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Swiss construction chemicals company Sika divests European industrial coatings business

Aug 19 (Reuters) - Swiss construction chemicals company Sika AG said it agreed to sell its European industrial coatings business, based in Germany, to U.S. paint and coatings maker Sherwin-Williams Co.

In 2020, the business segment generated sales of about 75 million Swiss Franc ($81.64 million), Sika said, adding the deal was expected to close in the beginning of 2022.

The statement did not disclose financial details. ($1 = 0.9187 Swiss francs) (Reporting by Kanishka Singh in Bengaluru Editing by Chris Reese)

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