CLEVELAND, Sept. 15, 2020 /PRNewswire/ -- The
Sherwin-Williams Company (NYSE: SHW) is pleased to announce the key
external partners it has selected to build its new global
headquarters in downtown Cleveland
and its new R&D center in the Cleveland suburb of Brecksville. The
Company previously announced its plans for the project on
February 6, 2020.
The key project partners include:
- Pickard Chilton Architects, Inc. – Design architect for the
global headquarters
- HGA Architects and Engineers, LLC (HGA) – Base building
architect for the global headquarters; Design, base building and
interior architect for the R&D Center
- Vocon Partners, LLC – Interior architect for the global
headquarters
- Welty Gilbane, a Joint Venture – Construction manager
- Mark G. Anderson Consultants, Inc. (MGAC) – Project manager,
project controls and owner's representative
- CBRE Inc. – Real estate and economic development advisor
- Vorys, Sater, Seymour and Pease LLP – Legal and economic
development counsel
- Hanson Bridgett LLP – Legal counsel
- inSITE Advisory Group – Economic development advisor
"The key partners we have selected are aligned with our vision
of creating a next generation workplace that supports serving our
customers at the highest level, retaining and attracting top
talent, and igniting creativity, collaboration and industry-leading
innovation," said John G. Morikis,
Sherwin-Williams Chairman and CEO. "As we move forward with the
next phase of this critical project, my deepest appreciation goes
to our employees who have adapted quickly and safely throughout the
pandemic to meet our customers' needs in new and unique ways. At
the same time, we recognize that the development, engagement and
sense of community our employees share has been essential to our
success for more than 150 years and would be difficult to sustain
over the long-term with a remote-based workforce."
The project has reached this important point thanks to
outstanding and effective public-private partnerships with the
State of Ohio, JobsOhio, Ohio
Development Services Agency, Cuyahoga
County, Cleveland-Cuyahoga
County Port Authority, the City of
Cleveland and the City of
Brecksville. In addition, the Company continues to receive
tremendous support from Team NEO, the Greater Cleveland Partnership
and Downtown Cleveland Alliance.
Sherwin-Williams plans to invest a minimum of $600 million
to build both facilities. The new global headquarters will be
in downtown Cleveland just west of
Public Square between Saint Clair Avenue and Superior Avenue and
will be approximately 1,000,000-square-feet in size. The new
R&D center will be in Brecksville, on a proposed reconfigured
119-acre site conveniently located off I-77 at Miller Road and
Brecksville Road. The R&D center will be approximately
500,000-square-feet in size and will serve as the corporate anchor
for a new mixed-use development project.
Sherwin-Williams is committed to fostering a culture of
inclusion and diversity in the workforce. Forbes recently named the
Company among America's Best Employers for Diversity, for New
Graduates and for Women. The Company is extending this commitment
to the construction of these facilities. Sherwin-Williams will work
proactively with the cities, community leaders and trade partners
to positively impact the local economy by providing workforce
opportunities for the community, including awarding contracts to
minority-owned and female-owned businesses, as well as small
businesses.
Combined, the two facilities will house more than 3,500
employees with room to accommodate future growth. Sherwin-Williams
estimates it will add a minimum of 400 jobs at these facilities
over time, an increase of 11 percent to the Company's current local
workforce. Many of these jobs will include professional staff,
engineers and chemists.
Given the pause in some project activities since April, the
Company is updating its project timeline. While the global
headquarters and R&D center project continues to be a
multi-year process, some milestone dates are expected to change and
will be communicated when available. The transition to the new
facilities is now likely to occur in 2024 compared to the
previously announced timing of late 2023. No decisions have been
made regarding the disposition of the Company's current
headquarters and R&D center, located in Cleveland at W. Prospect Avenue and Canal
Road, respectively, or its facility on Warrensville Center
Road.
For ongoing updates on the Company's new global headquarters and
new R&D center, please visit buildingourfuture.com.
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.
Investor Relations Contacts:
Jim Jaye
Senior Vice President, Investor Relations & Corporate
Communications
Sherwin-Williams
Direct: 216.515.8682
james.r.jaye@sherwin.com
Eric Swanson
Vice President, Investor Relations
Sherwin-Williams
Direct: 216.566.2766
eric.r.swanson@sherwin.com
Media Contact:
Julie Young
Vice President, Global Corporate Communications
Sherwin-Williams
Direct: 216.515.8849
corporatemedia@sherwin.com
Cautionary Statement Regarding Forward-Looking
Information
This press release contains certain "forward-looking
statements," as defined under U.S. securities laws, about
Sherwin-Williams. These statements can be identified by the use of
forward-looking terminology such as "believe," "expect," "may,"
"will," "should," "project," "could," "plan," "goal," "potential,"
"seek," "intend" or "anticipate" or the negative thereof or
comparable terminology. 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 such things as: general business and economic
conditions; approvals of project incentives and other matters,
completion of standard due diligence and resolution of business and
legal matters relating to the project; Sherwin-Williams' ability to
successfully integrate past and future acquisitions into its
existing operations, as well as the performance of the businesses
acquired; strengths of retail and manufacturing economies and the
growth in the coatings industry; changes in Sherwin-Williams'
relationships with customers and suppliers; changes in raw material
availability and pricing; adverse weather conditions or impacts of
climate change, natural disasters and public health crises,
including the COVID-19 pandemic; the duration, severity and scope
of the COVID-19 pandemic and the actions implemented by
international, federal, state and local public health and
governmental authorities to contain and combat the outbreak and
spread of COVID-19, which may exacerbate one or more of the
aforementioned and/or other risks, uncertainties and factors more
fully described in the Company's reports filed with the Securities
and Exchange Commission (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.
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SOURCE The Sherwin-Williams Company