The Sherwin-Williams Company (NYSE: SHW) has entered into a deal with global coatings firm Hempel A/S to sell Wattyl. Wattyl is an Australian and New Zealand producer and supplier of architectural and shielding paint and coverings with yearly income of nearly $200 million USD and 750 employees.
The Wattyl business has joined Sherwin-Williams through the 2017 purchase of The Valspar Corporation. The business was earlier described in Sherwin-Williams Customer Brands Group. The adviser to Sherwin-Williams is Deloitte Corporate Finance Australia.
Shares of The Sherwin-Williams Company (NYSE: SHW) soared 0.74% during the trading session of Thursday. It has gained +5.36 during the trading session of Thursday. In the past 52-weeks of trading, this firm's share went from a low point around $325.43 to briefly over $758.00. Its shares went up 123.32% from its 52-week low and traded down -4.12% from its 52-week high. The Sherwin-Williams Company 's market cap has remained high, reaching $65.84 billion at the time of writing.
Sherwin-Williams disclosed that the decision to sell the Wattyl is as per the current processes of the firm to assess all features of its portfolio, comprising products lines, consumer lineups and dealings, for their capability to fulfill the performance target and for their long-term strategic fit.