The Sherwin-Williams Company
Cleveland, Ohio/USA
www.sherwin-williams.com
PUBLIC COMPANY
YEAR ESTABLISHED: 1866
REVENUE: $7.855 billion s (2011: 7.326 bn)
(Note: Sherwin-Williams reported total revenue of $9.53
billon for fiscal 2012. However, for purposes of this report,
sales of painting tools and equipment in the Paint Stores
Group are not reported as part of coatings revenue. The
above is Coatings World’s estimate.)
MARKETS SERVED
•Architectural coatings • Industrial coatings • Protective
and marine coatings • OEM product finishes • Wood
finishes • Aerospace coatings
KEY EXECUTIVES
Christopher Connor, chairman and CEO; John Morikis,
president and COO; Sean Hennessy, senior VP, finance
and CFO.
The Sherwin-Williams Company reported sales of $9.53 bil- lion in net sales. Minus the sale of painting tools and equip- ment in the company’s Paint Store Group, Coatings World
estimates the company’s paint and coatings sales to be approximately $7.855 bn.
Its Paints Stores Group represents 56. 7 percent of total sales and
includes Sherwin-Williams branded paints and stains. Major brands
include Sherwin-Williams, MAD, ProMar and SuperPaint. The Consumer Group comprises 13. 9 percent of sales and sells branded,
private label and licensed brand paints, stains, varnishes, industrial
products, wood finishing products, aerosols, caulks and adhesives.
Major brands include Dutch Boy, Krylon, Minwax, Thompson’s
WaterSeal, Pratt and Lambert, Martin Senour, Ronseal and Du-raseal. The company’s Global Finishes Group comprises 20. 6 percent of total sales and manufactures and sells a wide range of OEM
product finishes, protective and marine coatings and automotive
finishes to a customer base in 120 countries. Key brands include
Sherwin-Williams, Lazzuril, Excelo and Baco. The Latin America
Coatings Group encompasses 8. 8 percent of total sales. It manufactures a wide range of architectural paints and industrial coatings
throughout Latin America.
The company’s Latin America Coatings Group was bolstered
with the $2.34 billion acquisition of Mexico’s Comex (ranked 14
in last year’s report), which will strategically position the company
throughout Latin America and strengthen its western U.S. and Canadian presence. The combined company will have $10 billion in
sales, the company reported.
Founded in 1952, Comex is a privately held business with operations in Latin America, the U.S. and Canada. In 2011, Comex
had total annual sales of $1.4 billion. The company manufactures
and sells architectural and industrial coatings in Mexico through
3,300 points of sale operated by 750 concessionaires. In the U.S.,
Comex sells paint and coatings products under a variety of brand
names through 240 company-operated paint stores. In Canada, the
company markets multiple brands of paint and coatings through 78
company-operated paint stores and approximately 1,500 independent paint dealers.
Comex, like Sherwin-Williams, places heavy emphasis on sup-
plying high-quality architectural paints and coatings. The compa-
ny’s product assortment also includes various industrial, protective
and specialty coatings. Comex operates eight manufacturing sites
in Mexico, five in the U.S. and three in Canada and has more than
7,200 employees.
Sherwin-Williams Becomes
Official Paint of NASCAR
NASCAR and Sherwin-Williams have entered into a multi-year part-
nership designating the nation’s largest specialty retailer of paint
and painting supplies as the “Official Paint of NASCAR.”
In addition to signing on as an Official NASCAR Partner, Sher-
win-Williams also becomes a Contingency Sponsor in the NAS-
CAR Sprint Cup Series, NASCAR Touring and Weekly Series and
GRAND-AM Road Racing. The NASCAR and GRAND-AM contin-
gency programs foster strong relationships between competitors
and the high-quality, performance-driven brands that are part of
the program, by providing prize money for each race and at the end
of each racing season. Competitors become eligible for the money
by displaying partner decals on their race vehicles. As part of the
contingency program, Sherwin-Williams will be title sponsor of the
Fastest Lap Award in the NASCAR Sprint Cup Series.
“The Sherwin-Williams Company is thrilled to be the ‘Official
Paint of NASCAR.’ We have invested in the sport at the team level
since 2000, sponsoring about 85 percent of the teams in the NAS-
CAR Sprint Cup Series,” said Chris Connor, chairman and chief ex-
ecutive officer, The Sherwin-Williams Company. “With more than
3,500 stores nationwide, this comprehensive Official Partnership
will enable us to connect with our wide customer base across the
country and to truly partner with NASCAR at every track.”
As part of this integrated partnership, Sherwin-Williams joins the
NASCAR Fuel for Business Council, which brings together an exclu-
sive group of more than 60 Official NASCAR Partners four times
per year to buy and sell products and services from one another.
This exclusive business-to-business environment offers unique op-
portunities for many Fortune 500 companies to bypass the time and
layers of corporate coordination that may exist to construct custom-
ized deals that help address specific business needs.
52 | Coatings World
www.coatingsworld.com
July 2013
