Engineering News

Sherwin-Williams buys Polish wood coatings company
Friday February 6, 2009, 11:46 am EST

CLEVELAND (AP) -- Sherwin-Williams Co. said Friday it will buy Polish wood coatings maker Altax Sp for an undisclosed amount.

Altax will join Sherwin-Williams' Ronseal coatings business, which is located in the United Kingdom.

Altax has 70 workers and sells its products throughout central Europe.

"This acquisition reaffirms our commitment to growing globally through organic expansion, accelerated by appropriate acquisitions," Sherwin-Williams Chairman and Chief Executive Christopher M. Connor said in a statement.

Shares of paint and coatings maker Sherwin-Williams rose 55 cents to $48.98 in morning trading.

Source: Associated Press

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