CHEMICAL TECHNOLOGY
SHERWIN-WILLIAMS COMPANY | August 20, 2021
The Sherwin-Williams Company today announced it has signed an agreement to acquire the European industrial coatings business of Sika AG. The transaction is expected to close in the beginning of 2022.
Based in Germany with additional sales and technical support in Poland, Austria and Switzerland, Sika's European industrial coating business engineers, manufactures and sells corrosion protection coating systems for high value interior and exterior steel infrastructure, bridges, airport and rail, wind and energy, chemicals, power transmission and stations, interior linings for oil and gas tanks, vessels, and pipework, and water and wastewater applications, along with fire protection coating systems to protect and preserve steel, wood and concrete building components. Sales of the business were approximately CHF 75 million ($82 million) for the year ended December 31, 2020. The acquired business will become part of the Company's Performance Coatings Group operating segment. Approximately 130 Sika employees are expected to join Sherwin-Williams.
"This transaction fits our strategy of acquiring complementary, high-quality, differentiated businesses that add to our profitable growth momentum," said Sherwin-Williams Chairman, President and Chief Executive Officer, John G. Morikis. "The business brings us scale, unique technology, a strong sales and marketing team, technical service capabilities, strategically located manufacturing, and leading specification and approval positions, all of which we can leverage further throughout Europe and other regions across the world. Additionally, synergy opportunities give us great confidence in accelerating the already strong financial performance of the business. We look forward to officially welcoming Sika's industrial coating employees to Sherwin-Williams upon the close of the transaction at the beginning of next year."
ABOUT THE SHERWIN-WILLIAMS COMPANY
Founded in 1866, The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of paint, coatings and related products to professional, industrial, commercial, and retail customers. The Company manufactures products under well-known brands such as Sherwin-Williams®, Valspar®, HGTV HOME® by Sherwin-Williams, Dutch Boy®, Krylon®, Minwax®, Thompson's® Water Seal®, Cabot® and many more. With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold exclusively through a chain of more than 5,000 Company-operated stores and facilities, while the Company's other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers, and industrial distributors. The Sherwin-Williams Performance Coatings Group supplies a broad range of highly-engineered solutions for the construction, industrial, packaging and transportation markets in more than 120 countries around the world.
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CHEMICAL TECHNOLOGY
Sumitomo Chemical Company Limited | August 25, 2021
NuMat Technologies, Incorporated today announced a partnership with Sumitomo Chemical Co., Ltd. to develop sustainable chemical separation technologies that can efficiently and dramatically reduce the carbon emissions and carbon footprint required to produce critical chemicals used in key sectors of the global economy.
Traditional chemical separation processes require substantial energy to operate, and significant capital investment. The drive for energy-efficient and cost-effective alternatives is of critical importance to achieve carbon emission reduction objectives outlined in the Paris Climate Agreement. Through this collaboration, both companies will apply their world-class expertise in advanced separation and precision-engineered materials to develop novel solutions that can displace incumbent technologies longer-term, while working towards near-term commercial targets.
NuMat is a platform chemistry design company, innovating at the intersection of high-performance computing, data engineering and chemistry to deliver transformational solutions to the chemicals, industrials, electronics and life-science sectors. A pioneer in the field of Programmable Chemistries, including Metal-Organic Frameworks, NuMat takes a precision-medicine approach to chemistry – tailor designing materials to solve big challenges at the smallest possible level.
"We're proud to partner with Sumitomo Chemical in unleashing the potential of Programmable Chemistries to address complex sustainability challenges in the chemicals industry," stated Ben Hernandez, Founder and Chief Executive Officer at NuMat Technologies. "Sumitomo Chemical and NuMat are joined by a shared mission to use chemistry in solving the problems that matter, and I’m excited at the innovation opportunities our collaboration can unlock."
Sumitomo Chemical, a leading Japanese chemical company, was founded with a mission to drive societal impact and solve environmental challenges through technology. They have been exploring new opportunities to achieve carbon neutrality by 2050.
"We are pleased to tackle the emission reduction challenges in the chemical industry with NuMat. This partnership is aligned with our carbon neutral strategy and intentions. We are looking forward to exploring the synergies from working with NuMat, allowing us to accelerate and enhance the discovery, development and delivery of innovative separation solutions that require less energy." said Junpei Tsuji, Associate Officer, General Manager of Research Planning and Coordination Department at Sumitomo Chemical.
About NuMat Technologies, Incorporated
NuMat is a chemistry design company, innovating at the intersection of high-performance computing, data engineering and chemistry to deliver transformational solutions to the chemicals, industrials, electronics and life-science sectors. A pioneer in field of Programmable Chemistries including Metal-Organic Frameworks ("MOFs), NuMat programs materials to uniquely interact with target molecules at the atomic level, and then integrates these materials into next-generation encapsulation, separation and catalytic solutions. NuMat provides a total solutions platform for product commercialization, pairing world-class material discovery software with application development and manufacturing expertise.
About Sumitomo Chemical Company Limited
Sumitomo Chemical, was founded in 1913 and is one of Japan's leading chemical companies with global sales of nearly $21 Billion. The company operates worldwide in such diverse business sectors as Petrochemicals & Plastics, Energy & Functional Materials, IT-related Chemicals, Health & Crop Sciences, and Pharmaceuticals. The Sumitomo Chemical Group will continue to create and provide solutions that can contribute to achieving a sustainable society by capitalizing on a wide array of technologies that it has cultivated as a diversified chemical company operating in its extensive areas of business.
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SOCMA | October 09, 2020
Society of Chemical Manufacturers & Affiliates (SOCMA) is pleased to announce the release of the third issue of the association's semi-annual publication. Written and developed specifically for the specialty and fine chemical value chain, this edition, "Charting the Course for 2021," showcases the journey of the industry during this unprecedented year. "SOCMA is proud to deliver this latest issue reflective of the adaptability, agility and ambition of this innovative industry," said SOCMA President and CEO Jennifer Abril. "Across industry sectors, companies are solving challenges and providing solutions with resilience and resourcefulness, as echoed through these pages."
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