Sherwin-Williams Completes Acquisition of Euronavy
December 17, 2008
CLEVELAND - The Sherwin-Williams Co. announced it has closed a definitive agreement to acquire Euronavy-Tintas Maritimas e Industriais S.A. of Portugal.
Headquartered in Lisbon, Portugal, Euronavy is an innovator of marine and protective coatings applied to ships, off-shore platforms, storage tanks, steel, concrete and flooring.
Euronavy became the first company in the world to receive approval for a solvent-free epoxy coating system. Research and development has also produced pioneering products for underwater application.
Founded in 1981, Euronavy has 40 employees across its manufacturing and distribution platform with sales of less than U.S. $25 million. Euronavy's coatings are sold in Brazil, Singapore, China, Vietnam, Dubai, Europe, Portugal, Canada and the United States.