Business News

Sherwin-Williams to Acquire Altax in Poland

Monday 09. February 2009 - Leading Woodcare Coatings Innovator Joins S-W's Growing UK Based Ronseal Division

The Sherwin-Williams Company (NYSE:SHW) announced it has closed a definitive agreement to acquire Altax Sp. zo.o. Headquartered in Poznan, Poland, Altax is a leading innovator of protective woodcare coatings and serves multiple channels including Industrial, Professional and DIY. Altax will join S-W’s growing Ronseal coatings business unit based in the U.K.

Founded in 1988, Altax has 70 employees across two manufacturing and distribution platforms whose products are currently sold throughout central Europe.

Christopher M. Connor, Chairman and CEO of The Sherwin-Williams Company said, “We are pleased to bring Altax, a well respected company and its talented people into the Sherwin-Williams family. This acquisition reaffirms our commitment to growing globally through organic expansion, accelerated by appropriate acquisitions.”

Paul Barrow, Managing Director of the Sherwin-Williams Ronseal division stated, “The acquisition of Altax is a logical step in our efforts to strengthen our growing global platform to better serve customer needs around the world with outstanding R&D, products, and people.”

Altax Managing Director Maciej Wichniarek said, “We are excited to join the Sherwin-Williams Ronseal family and to contribute to the company’s success across the globe. We have been an admirer of Sherwin-Williams for years, and now we are a partner.”