AB Wilh. Becker sells its business area Becker Acroma to The Sherwin-Williams Company

Höganäs, Sweden, May 24, 2010 AB Wilh. Becker announced that it has signed a definitive agreement to sell its business area Becker Acroma to The Sherwin-Williams Company (NYSE:SHW). The transaction, subject only to certain regulatory approvals, is expected to close in the third quarter. Headquartered in Stockholm, Sweden, Becker Acroma is one of the largest manufacturers of industrial wood coatings globally and a technology leader in water, UV and other wood coatings. Becker Acroma serves the joinery, kitchen cabinet, furniture, and flooring markets directly and through distributors. Becker Acroma has more than 900 employees with sales in excess of SEK 2.1 billion. Jenny Lindén Urnes, owner and chairman of AB Wilh. Becker, commented: “We are very pleased to sell Becker Acroma to The Sherwin-Williams Company. Becker Acroma and its committed employees around the world have been a very much appreciated part of Beckers and I wish them the best of luck in the future. We know Sherwin-Williams well and I am confident that joining The Sherwin-Williams family will be good for Becker Acroma’s employees, customers and other stakeholders.” Christopher M. Connor, Chairman and CEO of The Sherwin-Williams Company, said “We are pleased to bring Becker Acroma, a well-respected company, and their employees into the Sherwin-Williams family.” Post-transaction, AB Wilh. Becker will have two business areas – Becker Industrial Coatings and ColArt – with more than 3,000 employees world-wide and revenues in excess of SEK 6 billion. Becker Industrial Coatings is a market leader in coil coatings, industrial equipment coatings and design finishes for personal mobile devices. ColArt is the world’s largest supplier of fine art materials and owns four of the top ten brands of artists’ colour in the world. Erik Urnes, CEO of AB Wilh. Becker: “This is a strategic deal for both parties. Becker Acroma will become an important part of The Sherwin-Williams Company’s international expansion, while Beckers will be able to put more energy and resources behind the two remaining business areas Becker Industrial Coatings and ColArt in order to ensure that they continue to build on their global leadership positions. Becker Acroma is a great company, and as the consolidation in the wood finishing industry accelerates, we feel that Sherwin-Williams are even better positioned as owner to capture the opportunities of the future. AB Wilh. Becker will after this transaction be in the strongest financial position ever and this will enable us to actively pursue the exciting opportunities we see within Becker Industrial Coatings and ColArt.” Founded in 1865, AB Wilh. Becker is privately owned through Lindéngruppen AB, and is a well established global leader in clearly defined coatings, industrial finishes and fine art materials markets. The Sherwin-Williams Company was founded in 1866 and is a global leader in the manufacture, development, distribution, and sale of coatings and related products to professional, industrial, commercial, and retail customers. SEB Enskilda is acting as AB Wilh. Becker’s sole financial advisor in the transaction. For more information, please contact: Erik Urnes, CEO of AB Wilh. Becker, tel: +46 42 33 85 09