Sherwin-Williams
#182
Rank
$95.6B
Marketcap
United States
Country
Edward Williams (Founder)
Henry Sherwin (Founder)
Summary
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners. The Consumer Brands Group segment supplies a portfolio of branded and private-label architectural paints, stains, varnishes, industrial products, wood finishes products, wood preservatives, applicators, corrosion inhibitors, aerosols, caulks, and adhesives to retailers and distributors. The Performance Coatings Group segment develops and sells industrial coatings for wood finishing and general industrial applications, automotive refinish products, protective and marine coatings, coil coatings, packaging coatings, and performance-based resins and colorants. It serves retailers, dealers, jobbers, licensees, and other third-party distributors through its branches and direct sales staff, as well as through outside sales representatives. The company has operations primarily in the North and South America, the Caribbean, Europe, Asia, and Australia. As of February 17, 2022, it operated approximately 5,000 company-operated stores and facilities. The Sherwin-Williams Company was founded in 1866 and is headquartered in Cleveland, Ohio.
History
Sherwin-Williams was founded by Henry Sherwin and Edward Williams in 1866 in Cleveland, Ohio, after the two had previously worked together in the same store. Originally operating as a wholesale paint, oil and glass business, it soon opened its first retail store in 1870 and began to rapidly expand its operations. In 1875 the company began its manufacturing operations in Warren, Ohio, and opened its first international store in London, England, in 1883. The company continued to expand in the 20th century. In 1920 its total sales exceeded $50 million and it began to manufacture paint products in factories across the US. In 1929 Sherwin-Williams purchased a prominent paint company, rival Valspar, allowing it to gain an even larger market share and expand production throughout Europe. From the 1940s onwards, the company began to expand its operations to include other specialty products, such as protective coatings, marine coatings, architectural coatings and industrial finishing products. Over the next two decades, Sherwin-Williams went on to open WallKote stores across the US, as well as paint and home improvement stores, and began to offer a wide range of proprietary coatings for different industries. In the late 1980s, the company grew further, becoming a publicly-traded company in June of 1989, and moving its headquarters to its current Ohio home, near the old Sherwin and Williams store from 1866. In the years leading up to the 21st century, Sherwin-Williams continued to expand, acquiring a number of companies, such as Thompson's, Conoco, and Inmont. By the 2010s, the company had become one of the largest paint manufacturers in the world, with operations in many major markets around the world.
Mission
Our mission is to be the best coatings, paints and sundry solution provider in the world, helping the communities we serve reach their full potential through innovation, education, and customer service.
Vision
Our vision is to be the world's leader in premium coatings and sundry solutions and be a beacon of quality, innovation and creativity.
Key Team
Allen J. Mistysyn (Senior Vice President - Finance and Chief Financial Officer)
Richard Kramer (Board Member)
Steven Wunning (Board Member)
Bryan J. Young (Senior Vice President - Corporate Strategy and Development)
Heidi G. Petz (President & Chief Operating Officer)
James R. Jaye (Senior Vice President - Investor Relations & Corporate Communications)
Jane M. Cronin (Senior Vice President - Enterprise Finance)
Jeff Fettig (Board Member)
Justin T. Binns (President, The Americas Group)
Recognition and Awards
References
Edward Williams (Founder)
Henry Sherwin (Founder)