News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

NOCHE

Meaden & Moore

Knight Foundation


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business


Cleveland's Sherwin-Williams to buy Mexican paint rival
But Sherwin-Williams combined operations not expected to add jobs right away
by WKSU's KEVIN NIEDERMIER


Reporter
Kevin Niedermier
 
Courtesy of Sherwin-Williams
Download (WKSU Only)
In The Region:

 

One of Cleveland’s oldest and largest companies could nearly double in size, but that will not necessarily mean employment will change. Paint maker Sherwin-Williams has announced an agreement to acquire its’ Mexican rival in a deal worth more than $2 billion dollars. WKSU’s Kevin Niedermier reports on the potential local impact of the biggest acquisition in Sherwin-Williams’ history.

Click to listen

Other options:
Windows Media / MP3 Download (1:28)


 

Sherwin-Williams has been headquartered in Cleveland for almost 150-years, and is the largest paint manufacturer in the Western Hemisphere. The paint company wants to buy Mexico’s Consorcio Comex, the hemisphere’s second biggest. Sherwin-Williams has more than 3200 employees world-wide, and 2000 of them are in Cleveland. Comex employs more than 7000 people. Sherwin-Williams spokesman Mike Conway says the combined operations could lead to more employment in the future as the companies grow, but for now things would stay the same.

“We always try to keep the top folks and leaders in the companies we’re acquired over the years because they’re the one who have great relations with professional paint contractors, and that’s our niche in addition to the retail do it yourselfers. But professional contractors are the main drivers for our customer base.”  

Analysts believe that acquiring Comex is a great business move for Sherwin-Williams, because the Mexican company is very profitable in South and Central American, and through its’ operations in Canada and the western United States.  These are all places where Sherwin-Williams has a smaller presence.  Announcement of the agreement pushed up Sherwin-Williams’ stock. Government regulators in the U.S., Mexico and Canada still have to approve the deal. Conway expects approval to come in the first quarter of next year…. I

Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

Ohio becomes first in the nation to dump PARCC testing
Best test to use for elementary schools is the old pre common core Iowa test of basic skills. This test measures apples to apples and tests the skills appropri...

Ohio is moving forward with new standardized tests
Mr Chow, Nice piece on testing. Should not Ohio go to an open bid process for the new assessment contract? Ohio has stayed with a "connected" DC non-profit fo...

The Surpreme Court gay-marriage decision plays out in Ohio Amish country
Keep in mind that the majority of the people residing in Holmes County are Amish, a church people who do not vote because they do not believe in governmental ru...

Akron council committee recommends Forney for its opening
Which committee member voted for Wilhite?

Nearly a dozen Cuyahoga gay couples get licenses to marry after the Supreme Court ruling
Presiding Judge Anthony J. Russo a graduate of Chanel High School and supposed member of St. Francis Parish in Gates Mills has just excommunicated himself. As ...

Canton Youth Symphony is named orchestra of the year
This is what makes CSO the hippest small town orchestra in America!

What can be expected if Ohio's tobacco taxes increase?
let's face it! The increase has little to do with smoking cessation

Rare Cleveland Indians photo from 1911 hits the auction block
Paddy Livingston, who cut his teeth on a Louisville Slugger in Kent, Ohio was one of the immortals that played in that game. He was the catcher. Ty Cobb actuall...

Nexus denies Green's request to relocate its planned gas pipeline
These people have so much power. Too much. They could care less about the people they leave when it is done. Spectra does not, and admits, they do not do the...

Copyright © 2015 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University