Sherwin-Williams Signs an Agreement to Acquire the Liquid Coatings Subsidiaries of Inchem Holdings Asia Leading Coatings Supplier to Furniture and Electronics Manufacturers will Join S-W’s Growing Global Chemical Coatings Division
The Sherwin-Williams Company (NYSE:SHW) announced that it has signed a definitive agreement to acquire the Liquid Coatings Subsidiaries of Inchem Holdings of Inchem Holdings International Limited (SGX:ICHM).
Headquartered in Singapore, Inchem produces coatings applied to wood and plastic products in Asia. These waterborne, solvent-based, and ultraviolet (UV) curable coatings are applied to furniture, cabinets, flooring, and electronic products that are manufactured both for export as well as domestic sale. The coatings are made and sold in China, Vietnam and Malaysia, and distributed to 15 other countries throughout Asia.
Founded in 1992, Inchem has more than 400 employees across its four manufacturing plants, sales of approximately US$30 million, and a reputation for innovative technology and quality products.
Christopher M. Connor, Chairman and CEO of The Sherwin-Williams Company, said “this acquisition reaffirms our commitment to growing globally through organic growth accelerated by strategically important acquisitions. We are pleased to bring Inchem, a well respected company throughout Asia, it’s plants in China, Vietnam, and Malaysia, and most importantly its people into the Sherwin-Williams family.”
George E. Heath, President and General Manager of Sherwin-Williams Chemical Coatings Division, stated, “we continue to strengthen our growing global platform to better serve the needs of manufacturers in North America and Asia. Inchem supports this mission with great plants, products, and people throughout Southeast Asia.”
Inchem Chairman, Robin X. Lim, said, “we are excited to join the Sherwin-Williams family and to contribute to the company’s success here in Asia. We have been an admirer of Sherwin-Williams for years, and now we are a partner.”
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