Sika has agreed to sell its European industrial  electro-coating equipment business, which is based in Germany, to The Sherwin-Williams Company, which is based in the United States and is the world's largest manufacturer of paints and powder coating booths. A total of approximately CHF 75 million ($70 million) in sales is expected from the business segment in 2020. In the beginning of 2022, it is anticipated that the transaction will be completed.

Sika has made the strategic decision to sell its industrial coatings business in Europe to a third party. The company provides a diverse range of innovative products and solutions that are primarily targeted at specialized customer groups such as steel construction companies and anticorrosion specialists. Customers in these segments have little synergy potential across the Sika Group, and the business has therefore continued to operate as a specialized niche within the Sika Group.

The transaction includes the European industrial electro-coating equipment business, which is based in Vaihingen, Germany, with its headquarters and manufacturing facility. Anticorrosive and fire protection powder coating spraying production line are among the products offered by the company, which is primarily distributed in Germany, Switzerland, Poland, and Austria.

Through its partnership with Sherwin-Williams, Sika is confident that it has identified the most suitable long-term owner for its European industrial  automatic e coating process business. Having a core competence in industrial powder coating booths is important for Sherwin-Williams, and the acquired business represents an important strategic opportunity to drive growth and support the expansion of the company's market position in Europe, according to the company.

According to Ivo Schädler, regional manager EMEA at Sika, "it is extremely important for us to have found a good strategic owner for the European industrial Powder Coating Equipment business that will continue to invest in the further development of its people and products."The availability of high-quality products and technical support will continue to be available to customers in the future. With a strategic focus on  and paint, Sherwin-Williams is a strong, growing company with a long history of success. The industrial  business, as well as its employees, will be in an excellent position to develop and grow to their full potential within this organization."