Sherwin-Williams.com Offers paint products & find company's store location online
Sherwin-Williams
Sherwin Williams is a public limited company with employee strength of 29,434 and a yearly growth rate of 8.6%. The annual revenues of this Cleveland based company was $576 million in the fiscal year ended December 2006. The company manufactures paints, finishes, coatings, applicators and varnishes under the brand names Dutch Boy, Krylon, Martin-Senour, Red Devil, Sherwin-Williams, Thompson’s and Minwax. The company owns more than 3000 paint shops throughout North America and 200 whole sale branches in US, Canada, Chile, Jamaica and Peru for selling automotive finishing and refinishing products.
Sherwin-Williams is rated as the largest paint manufacturer in the U.S. The Chairman and CEO of the company is Christopher M. Connor and the President and COO is John G. Morrikis. The SVP, Corporate Planning and Development, is Conway G. Ivy. The competitors of this company are Akzo Nobel, ICI Paints and PPG.
History
Sherwin-Williams was incorporated in 1884 but traces its history back to 1866 when Henry Sherwin invested his life savings of $2000 in a partnership with Truman Dunham Company of Ohio. The firm distributed pigments, painting supplies, oils and glass. The original partnership dissolved in four years and a new partnership was formed with Sherwin, Edward P. Williams and A. T. Osborn. The new business became operational under the name Sherwin-Williams & Company. The first factory of the company was established in Cuyahoga River in Cleveland, Ohio to manufacture paste paints, oil colors and putty. The first product of this new entity was “Guaranteed Strictly Pure Raw Umber in Oil”.
The Recloseble paint can patented by Sherwin-Williams & Company revolutionized the paint industry in 1877. For the first time people could buy paint which could used and reused. The paints that existed before this revolution had to be mixed constantly to prevent the pigment sinking to the bottom and had to be used immediately as the paint would dry up. The initial patented product was introduced under the Osborn label and then as SWP—Sherwin Williams Paint—after two years of trail.
In 1884 the “Inside Floor Paint” was marketed to introduce the concept that specific paints need to be used for specific purposes. Percy Neyman also joined the company as the first paint chemist during this year. His contribution to research resulted in several new products being introduced by the company.
The Sherwin Williams Company was known for its ability to detect niche markets. It saw great opportunity in marketing paints to the railroad companies in 1888. The manufacturing unit at Chicago was opened with a view to service this sector and also the farm implement and carriage industries. The Pullman Company was a major customer. George A Martin joined the company to run this new facility and to go on to become the President of the Sherwin Williams Company.
In the late 1890’s the Sherwin Williams Company began to feel the need to advertise its products extensively and increase its market share. An exclusive advertisement division was formed to address this need. George Ford became the head of this department. He opened a sales agency in Worcester, Massachusetts and conceptualized its “Store”. “Cover the Earth” trademark was first introduced in 1905. Cottingham, who became the President in 1909 conducted several successful sales campaigns and wrote several inspirational editorials.
A period of acquisition began in the early 20th century. Martin –Senour Company of Chicago, Acme Quality Paint Company of Detroit and a new plant in Oakland California were acquired during this early part of the century. Cottingham also retired in 1922 and Martin took over as the President of the company.
Martin gave the Company a new direction. The company developed nitro-cellulose lacquer and synthetic enamel during his tenure. Car finishes market opened out to the company. Martin continued Cottingham’s policy of advertising the products of the company strongly. The “Metropolitan Opera auditions of the Air” was a successful radio program that the company ran for almost four years. The company also acquired two innovative companies under his leadership-- Lowe Brothers Company, Ohio and the John Lucas Company of Philadelphia. He bought the Bredell Paint Company of Havana with the view to take the products of the company to Latin America. He established branches in Buenos Aires and Sao Paulo.
During the World War II the company focused on camouflage paints for armed forces. They were also commissioned to load shells, anti tank mines and aerial bombs. The plant in Carbondale, Illinois was set up to handle this work. Steudel took over from Martin in 1940 as President of the company. Dye, chemical and color division was Steudel’s speciality. He had several good ideas about retailing and merchandising paint and the company’s profits responded to an upward swing during his tenure. He remained the President of the Company for more than twenty years and continued to serve the company in other capacities thereafter.
Sherwin Williams continued to introduce several popular consumer products over the years. The Kem-Tone, the Roller-Koater(applicator brush), the Kem-Glo(a porcelain like enamel) and Super Kem-Tone were some of the products that were very profitable to the company and very sought after by customers. Polane was introduced for metal surfaces and was found very effective with plastic surfaces also. The company was listed in the stock exchange for the first time in 1964.
The 70’s was a period of setback for the company. The company experienced losses that amounted to $8.2 million. The debt increased to $242 million and dividends were suspended. William O Spencer CEO was replaced by William C Fine and later by John G Breen. Breen managed to bring the company back on its feet. He purchased the shares of the Sherwin Williams company held by Gulf and Western and averted a take over. He also shuffled the management and replaced several vice presidents, decentralized responsibility and discontinued low selling products. He cut the long standing debt and improved earnings. Breen continued as President till 1986 when Thomas A. Commes took over from him.
The Dutch Boy line of paints, the Dupli-Color Products Company and the Bapco partnership were acquired during Breen’s tenure. The Krylon and Illinois Bronze lines were added during the 1990’s and the company took over units from Cook Paint and Varnish Company. Technology entered the company in the late 90’s and a software engineer was hired to help the company create an automated control system for its distribution systems. The system used bar code technology and portable radio frequency. This improved the company’s efficiency in processing orders.
Today Sherwin Williams has a strong financial position. It has successfully avoided long term debt and gained a large market share. The company, however, retains its ability to respond effectively to shifting economic development.
Principal Subsidiaries
Contract Transportation Systems Co.; Dupli-Color Products Company; Sherwin-Williams International Company; DIMC, Inc.; Interiors Guild, Inc.; MTM Development Corporation; Sherwin-Williams Acceptance Corporation; SWIMC, Inc.; Sherwin-Williams Canada, Inc.; 147926 Canada Inc.; The Sherwin-Williams Co. Resources Limited (Jamaica); Sherwin-Williams (Caribbean) N.V. (Curaç); Sherwin-Williams (West Indies) Ltd. (Jamaica); Sherwin-Williams Foreign Sales Corporation Limited (Virgin Islands); Sherwin-Williams do Brasil Industria e Comercio Ltda. (Brazil); Compañia Sherwin-Williams, S.A. de C.V. (Mexico); Sherwin-Williams Cayman Islands Ltd. (Grand Cayman).
Languages
English
Address
- 101 Prospect Avenue NW
- Cleveland, Ohio 44115
Contact
- Sherwin-Williams CO
-
- +1 216 566 2000
Additional Information
Related Domains
External Links
- Stock: SHW
- Alexa: Sherwin-Williams.com
