Sherwin-Williams Completes the Acquisition of Inchem Holdings in Asia; Leading Coatings...

Sherwin-Williams Completes the Acquisition of Inchem Holdings in Asia; Leading
Coatings Supplier to Furniture and Electronics Manufacturers; Joins S-W's
Growing Global Chemical Coatings Division

CLEVELAND, July 31 /PRNewswire-FirstCall/ -- The Sherwin-Williams Company
(NYSE: SHW) announced that it has closed a definitive agreement to acquire the
Liquid Coatings Subsidiaries of Inchem Holdings of Inchem Holdings
International Limited (SGX: ICHM).
Headquartered in Singapore, Inchem produces coatings applied to wood and
plastic products in Asia. These waterborne, solvent-based, and ultraviolet
(UV) curable coatings are applied to furniture, cabinets, flooring, and
electronic products that are manufactured both for export and domestic sale.
The coatings are made and sold in China, Vietnam and Malaysia, and distributed
to 15 other Asian countries.
Founded in 1992, Inchem has more than 400 employees across its four
manufacturing plants, sales of approximately US$30 million, and a reputation
for innovative technology and quality products.
Christopher M. Connor, Chairman and CEO of The Sherwin-Williams Company,
said, "we are pleased to bring Inchem, a well respected company throughout
Asia, its plants in China, Vietnam, and Malaysia, and most importantly its
people into the Sherwin-Williams family.
This acquisition reaffirms our commitment to growing globally through organic
expansion, accelerated by strategically important acquisitions."
George Heath, President and General Manager of Sherwin-Williams Chemical
Coatings Division, stated, "we continue to strengthen our growing global
platform to better serve the needs of manufacturers in North America and Asia.
Inchem supports this mission with great plants, products, and people
throughout Southeast Asia."
Inchem Chairman, Robin Lim, said, "we are excited to join the Sherwin-
Williams family and to contribute to the company's success here in Asia. We
have been an admirer of Sherwin-Williams for years, and now we are a partner."
Sherwin-Williams Chemical Coatings Division
The Sherwin-Williams Chemical Coatings Division, part of the company's
Global Group, manufactures and distributes a complete line of advanced
technology liquid and powder coating systems for the world OEM market through
13 manufacturing and 90 facility locations across the U.S., Canada, Mexico,
China, Vietnam, Malaysia and the Philippines. For more information, visit
www.sherwin.com/oem .
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(R), Dutch Boy(R), Krylon(R), Minwax(R), Thompson's(R) Water Seal(R),
and many more.
With global headquarters in Cleveland, Ohio, Sherwin-Williams(R) branded
products are sold exclusively through a chain of more than 3,000 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.
The Sherwin-Williams Global Group distributes a wide range of products in
more than 30 countries around the world. For more information, visit
www.sherwin.com .

The Sherwin-Williams Company: M&A

Acquired

4.4.07 NITCO India Architectural Coatings

4.26.07 Altair Nano Nevada Ti02 Joint Venture

6.1.07 M.A. Bruder Philadelphia 132 Paint Stores

6.28.07 Pinturas Uruguay Architectural Coatings
Industriales

8.3.07 NAPKO Mexico Protective Coatings

9.21.07 VHT Paint Line Scottsdale Aerosol Coatings

9.27.07 Columbia Spokane 41 Paint Stores

12.29.07 Flex Mexico Automotive Coatings

2.18.08 Becker Powder Columbus Industrial Coatings
Coatings US

7.31.08 Inchem Holdings Singapore Industrial Coatings

Contacts:

Robert Wells
Vice President Corporate Communications and Public Affairs
Sherwin-Williams
Direct: 216.566.2244
rjwells@sherwin.com

Mike Conway
Director Corporate Communications and Investor Relations
Sherwin-Williams
Direct: 216.515.4393
Pager: 216.422.3751
mike.conway@sherwin.com

SOURCE The Sherwin-Williams Company

Robert Wells, Vice President Corporate Communications and Public Affairs,
+1-216-566-2244, or rjwells@sherwin.com, or Mike Conway, Director Corporate
Communications and Investor Relations, +1-216-515-4393, or pager,
+1-216-422-3751, or mike.conway@sherwin.com, both of Sherwin-Williams