Sika has closed the transaction related to the divestment of its European industrial coatings business to The Sherwin-Williams Co. The deal was announced on August 19, 2021. The associated sales proceeds amount to €200 million (approximately $222.3 million).

Sika reports that the transaction will have a positive one-time impact on its profitability in the first half of 2022. The final effect on the financial statements will be presented in the half-year report to be published on July 22, 2022.

For more information, visit www.sika.com.