Sika to Divest European Industrial Coatings Business
The product range encompasses anticorrosive and fire protection coatings that are mainly sold in Germany, Switzerland, Poland, and Austria.
Sika recently announced that it has agreed to sell its Germany-based European industrial coatings business to The Sherwin-Williams Co. In 2020, the business segment generated sales of approximately CHF 75 million (~ $81.8 million). The transaction is expected to close in the beginning of 2022.
The transaction includes the European industrial coatings business with the main location and manufacturing facility in Vaihingen, Germany. The product range encompasses anticorrosive and fire protection coatings that are mainly sold in Germany, Switzerland, Poland, and Austria.