CLEVELAND, Sept. 12, 2019 /PRNewswire/ -- The
Sherwin-Williams Company (NYSE: SHW) today announced it has
initiated a process to explore options for a new R&D facility
and a new global headquarters. This action comes as a result of the
company's ongoing review of its facilities requirements as it seeks
to best meet the current and future needs of its customers and
employees.
"The company's significant growth and global expansion over the
last several decades has resulted in a less than optimal
configuration of headquarters, offices and R&D facilities
across multiple locations," said Sherwin-Williams Chairman and
Chief Executive Officer John G.
Morikis. "Given the limitations of our current footprint and
driven by the needs of our customers, we are exploring options that
will help us to accelerate productivity and efficiency, enhance
technology and innovation, enable greater collaboration, support
recruitment and retention and reduce maintenance costs over the
long term."
As part of the exploratory process, Sherwin-Williams will
consider multiple potential sites, including locations in
Cleveland, Northeast Ohio and several other states. Any
transition to new facilities is not expected to occur until 2023 at
the earliest and would require Board approval.
Sherwin-Williams' current headquarters at 101 W. Prospect Avenue
in Cleveland, Ohio, has been its
home since 1930. The company operates multiple facilities in
Northeast Ohio which are home to
approximately 4,400 employees.
Sherwin-Williams will update employees and external stakeholders
on an ongoing basis as the multi-year process goes forward.
In the meantime, Sherwin-Williams will continue to focus its
efforts on the service, quality and innovations that fuel the
company's commitment to help customers around the world
succeed.
About Sherwin-Williams
Founded in 1866, The Sherwin-Williams Company is a global leader
in the manufacture, development, distribution, and sale of paints,
coatings and related products to professional, industrial,
commercial, and retail customers. Sherwin-Williams 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 4,900 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. Sherwin-Williams shares
are traded on the New York Stock Exchange (symbol: SHW). For more
information, visit www.sherwin.com.
Media Contact:
Mike Conway
Director, Corporate Communications
Sherwin-Williams
Direct: 216.515.4393
mike.conway@sherwin.com
Investor Relations Contact:
Jim Jaye
Senior Vice President – Investor Relations & Corporate
Communications
Sherwin-Williams
Direct: 216.515.8682
james.r.jaye@sherwin.com
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SOURCE The Sherwin-Williams Company