Sherwin-Williams Breaks Ground on NC Facility

THURSDAY, NOVEMBER 10, 2022


Late last month, global coatings manufacturer The Sherwin-Williams Company hosted a ceremonial groundbreaking to expand its manufacturing and distribution facilities in Statesville, North Carolina.

The ceremony, which was hosted on Oct. 26, was attended by various state, county and local public officials and Sherwin-Williams employees, in addition to project contractors and partners.

“Today marks an important milestone for Sherwin-Williams in continuing to serve our customers and investing in our employees,” said John G. Morikis, Sherwin-Williams Chairman and Chief Executive Officer. “This project will support our growth for years to come. We are proud to be a part of the community here and grateful for the partnership we have with the local and state officials.”

About the Expansion

Back in February, Sherwin-Williams and the state of North Carolina, Iredell County and the City of Statesville signed an agreement approving the expansion of its architectural paint and coatings manufacturing capacity in Statesville. The agreement also approved the establishment of a larger distribution facility.

According to Sherwin-Williams, the area in Statesville was chosen after looking at several potential expansion locations across the state in a competitive vetting process.

In landing on Statesville for the project, Sherwin-Williams shares that it has well-suited grounds for transportation infrastructure, a strong current workforce and a deep local talent pool. The location is also better suited for the facility to handle the additional capacity and provides centralization of existing distribution opportunities for Sherwin-Williams’ regional operations.

“This project in Statesville adds to North Carolina's reputation as a top workforce location for modern manufacturing,” said North Carolina Governor Roy Cooper. “With more than 2,400 full-time Sherwin-Williams employees in our state and more coming, our state is committed to the education and training that will create success for years to come.”

The project intends to build an additional 36,000 square feet of facility space to its existing 200,000-square-foot. Construction efforts will also involve the construction of a new 800,000-square-foot distribution and fleet transportation center, in addition to four new rail spurs at the existing manufacturing site.

Another 200,000 square feet of space is still available and could potentially be used for additional expansions at the distribution site in the future.

Sherwin-Williams will receive approximately $30 million in state, county and local government incentives toward the project. The funding is noted to reflect the strength of the public-private partnership between Sherwin-Williams and the state of North Carolina, Iredell County and the City of Statesville and underscores the company’s confidence in the region and its people.

“We are thrilled Sherwin-Williams, a company that has been an integral part of our community since 1993, chose to make a significant investment in Statesville for both its manufacturing and distribution facilities,” said City of Statesville Mayor Costi Kutteh. “The decision to expand their footprint here represents the largest paint manufacturing operation for the company in North America based upon total gallon capacity and the largest single investment in the history of our city.”

The project is expected to reach competition in 2024.

Recent Sherwin-Williams News

The expansion groundbreaking follows several announcements made by Sherwin-Williams last month. Of them, Sherwin-Williams announced that it is planning to acquire an Italian designer, manufacturer and distributor of industrial wood coatings.

Products made by Industria Chimica Adriatica S.p.A. (ICA) are used for kitchen cabinets, furniture and décor, building products, flooring and other specialty applications. According to Sherwin, the acquired business has annual sales of more than 150 million euros ($147.1 million) and employs approximately 600 workers.

ICA also conducts sales and operations globally, with production facilities in Italy and Poland, and is noted to have an interest in the India-based joint venture, ICA Pidilite.

The acquisition is expected to reach completion by the end of 2022. Upon finalization, ICA will become part of the Sherwin-Williams Performance Coatings Group operating segment.

Also last month, Sherwin-Williams released its financial earnings report for the 2022 third quarter, which officially ended on Sept. 30.

The company reported a year-over-year consolidated net sales increase of 17.5% to a record $6.05 billion. Diluted net income per share, in addition to earnings before interest, taxes, depreciation and amortization all also witnessed increases for the quarter.

A full recap of the report can be viewed here.

Most recently, commercial painting crew from Duggan & Associates (Los Angeles) completed restoration coatings on the Hollywood sign in California utilizing 400 gallons of Emerald Rain Refresh paint in Extra White SW 7006 by Sherwin-Williams.

The project completes just in time for the historical landmark’s centennial celebration.

   

Tagged categories: Architectural coatings; Asia Pacific; Business management; Business matters; Business operations; Coatings; Coatings manufacturers; Distributors; EMEA (Europe, Middle East and Africa); Expansion; Expansions; Good Technical Practice; Latin America; North America; Program/Project Management; Projects - Commercial; Sherwin-Williams; Z-Continents

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