Sherwin-Williams to Acquire Comex

-- Acquisition combines the operations of Sherwin-Williams and Comex 
-- Expands distribution in Mexico, the United States, Canada and other Latin 
American countries 
-- Enhances Sherwin-Williams' position as a supplier of premium architectural 
paints and related products to professional painting contractors in the 
Americas 
CLEVELAND, Nov. 12, 2012 /CNW/ - The Sherwin-Williams Company (NYSE: SHW) 
announced it has signed a definitive agreement to acquire Consorcio Comex, 
S.A. de C.V., a leader in the paint and coatings market in Mexico with 
headquarters in Mexico City.  Sherwin-Williams will pay approximately $2.34 
billion, including assumed debt, in an all-cash transaction.  Completion of 
the acquisition is subject to certain conditions and customary regulatory 
approvals. 
Founded in 1952, Comex is a privately held business with operations in Latin 
America, the U.S. and Canada.  In 2011, Comex had total annual sales of 
U.S.$1.4 billion.  The Company manufactures and sells architectural and 
industrial coatings in Mexico through 3,300 points of sale operated by 750 
concessionaires.  In the U.S., Comex sells paint and coatings products under a 
variety of brand names through 240 company-operated paint stores.  In Canada, 
the company markets multiple brands of paint and coatings through 78 
company-operated paint stores and approximately 1,500 independent paint 
dealers. 
Comex, like Sherwin-Williams, places heavy emphasis on supplying high-quality 
architectural paints and coatings.  The company's product assortment also 
includes various industrial, protective and specialty coatings. Comex operates 
eight manufacturing sites in Mexico, five in the U.S. and three in Canada and 
has more than 7,200 employees. 
"Sherwin-Williams and Comex Group are an ideal fit in every respect - 
geographically, strategically and culturally," said Christopher M. Connor, 
Chairman and CEO of Sherwin-Williams.  "This transaction will significantly 
increase our presence in markets where our store count is low, it builds upon 
our strategy to grow our architectural paint business in the Americas and it 
brings a high-quality, dedicated team of employees to Sherwin-Williams. We are 
proud to welcome such a well-respected company and their employees into the 
Sherwin-Williams family." 
Marcos Achar Levy, CEO of Comex, commented, "We are very pleased and excited 
to join the Sherwin-Williams team and look forward to making a major 
contribution to the Company's ongoing success across the Americas. We have 
respected Sherwin-Williams for years, and are delighted to now be a partner. 
Comex and its committed employees know Sherwin-Williams well, and I am 
confident that joining the Sherwin-Williams family will provide an outstanding 
future for our employees and customers." 
Sherwin-Williams will conduct a conference call with investors to discuss the 
details of the proposed acquisition at 11:00 a.m. ET on Monday, November 12, 
2012.  Analysts and institutional investors may participate in the Q&A session 
by dialing (877) 407-9205 in the U.S. and (201) 689-8054 outside the U.S.  The 
conference call along with accompanying slide presentation will also be 
webcast simultaneously by Vcall. To access the webcast link go to the 
Sherwin-Williams website, www.sherwin.com, click on About Us, choose Investor 
Relations, then select Press Releases and click on the webcast icon following 
the reference to the November 12th release.   An archived replay of the live 
webcast will be available at www.sherwin.com beginning approximately two hours 
after the call ends and will be available until Friday, November 16, 2012 at 
5:00 p.m. ET. 
The Sherwin-Williams Company 
Founded in 1866, The Sherwin-Williams Company is a global leader in the 
manufacture, development, distribution, and sale of coatings and related 
products to professional, industrial, commercial, and retail customers. 
The company manufactures products under well-known brands such as 
Sherwin-Williams®, Dutch Boy®, Krylon®, Minwax®, Thompson's® Water 
Seal®, Ronseal™, Becker Acroma™, Sayerlack®, Euronavy®, Altax™ and 
many more. 
With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded 
products are sold exclusively through more than 4,000 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.   For more information, 
visit www.sherwin.com. 
____________________________________________________________________________ 
This press release contains certain "forward-looking statements," as defined 
under U.S. federal securities laws, concerning the proposed acquisition of 
Comex.  These forward-looking statements are based upon management's current 
expectations, estimates, assumptions and beliefs concerning future events and 
conditions.  Readers are cautioned not to place undue reliance on any 
forward-looking statements.  Forward-looking statements are necessarily 
subject to risks, uncertainties and other factors, many of which are outside 
the control of Sherwin-Williams, that could cause actual results to differ 
materially from such statements and from Sherwin-Williams' historical results 
and experience.  These risks, uncertainties and other factors include legal, 
regulatory and other matters that may affect the timing or ability of 
Sherwin-Williams to complete the acquisition of Comex.  Other risks, 
uncertainties and factors may affect the businesses of Sherwin-Williams and 
Comex, and include such things as: general business conditions, strengths of 
retail and manufacturing economies and the growth in the coatings industry; 
changes in relationships with customers and suppliers; changes in raw material 
availability and pricing; unusual weather conditions; and other risks, 
uncertainties and factors described from time to time in Sherwin-Williams' 
reports filed with the SEC.  Since it is not possible to predict or identify 
all of the risks, uncertainties and other factors that may affect future 
results, the above list should not be considered a complete list.  Any 
forward-looking statement speaks only as of the date on which such statement 
is made, and Sherwin-Williams undertakes no obligation to update or revise any 
forward-looking statement, whether as a result of new information, future 
events or otherwise. 
Investor Contact: Bob Wells Senior Vice President Corporate Communications and 
Public Affairs Sherwin-Williams Direct:  216.566.2244 rjwells@sherwin.com 
Media Contact: Mike Conway Director Corporate Communications Sherwin-Williams 
Direct:  216.515.4393 Pager:  216.422.3751 mike.conway@sherwin.com 
http://www.sherwin.com 
SOURCE: Sherwin-Williams Company 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/November2012/12/c7001.html 
CO: Sherwin-Williams Company
ST: Ohio
NI: HOU RET MNA CONF  
-0- Nov/12/2012 13:57 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.