As you are aware, with 51 years of history, led by the Paniccia family’s vision, we have become a global leader in innovative and high-quality industrial wood coatings.
Outstanding 2021 financial results and a turnover exceeding EUR 150 million, together with increasing worldwide appreciation for the ICA brand, synonymous everywhere with quality, efficiency, and sustainable development, have attracted the interest of major global companies in the industry.
With the main purpose of ensuring the company’s growth plans, preserving an industry-leading brand and continuing to invest in employee growth and development, we have signed an agreement for acquisition by The Sherwin Williams Company, a well-respected leader in the coat-ings industry, with an extensive global network and a 156-year history of innovation. The company, headquartered in Cleveland, Ohio, US, generates more than USD 19 billion in revenue and employs 61,000 people worldwide. The transaction is expected to close before the end of 2022, following customary regulatory approvals.
Sherwin-Williams’ strategy is to position our company as a global center of excellence in wood coatings and a benchmark for the entire group, driving cutting-edge product research and development while maintaining the heritage and values that have always made us different: customer care, innovation, sustainability, and attention to human growth.
In this respect, our whole current management team will remain and the services offered in the ICA Innovation Camp will be enhanced: the R&D facility, ICA Lab; the creative and high-tech application lab for clients, Life Lab; the accredited professional training school, ICA Academy; and the accredited chemical and physical testing lab, Performance Lab.
Sherwin-Williams plans to make significant investments to drive growth and international ex-pansion of ICA’s made in Italy coatings. Our trademarks and brands will continue to be recognized globally and associated with high-quality products with the utmost attention to the environment.