Recently, according to the Tianyancha website, Jiangsu Pulanna Paint Co., Ltd., the external investment company of Sherwin Williams (Nantong) Paint Co., Ltd., was recently removed and was taken over by Foshan Shunde District Liwei Enterprise Management Co., Ltd.

It is understood that Pulanna's predecessor was Lipai Automotive Paint Co., Ltd., which was established on July 1, 1998. On September 18, 2002, Plana Paint Co., Ltd. was established, mainly producing and distributing automotive coatings. Its main products include car refinishing paint, automotive original paint, plastic paint, wind turbine blade coating and other industrial coatings. Planner has long been focusing on the field of automotive refinishing paint. It owns multiple brands such as "RUVING", "CONELY" and "DFL", and has high visibility and reputation in the industry. In December 2012, Sherwin Williams of the United States successfully acquired 100% equity of Jiangsu Planner Paint Co., Ltd.

As the "successor", Foshan Shunde District Liwei Enterprise Management Co., Ltd., before the acquisition, already owned Foshan Shunde District Herunyue Painting Service Co., Ltd. and Valspar Yueyue Paint (Foshan) Co., Ltd. , Foshan Shunde District Yue Yue Chemical Trading Co., Ltd., Foshan Shunde District China Resources Engineering Coatings Trading Co., Ltd., Sherwin Williams (Qingdao) Paint Co., Ltd., Sherwin Williams (Qingdao) Paint Co., Ltd. and other 6 companies. capital subsidiary.

Sherwin Williams' 2022 financial performance report shows that Sherwin Williams achieved net sales of US$22.149 billion and a net profit of US$2.0201 billion throughout the year, ranking first in the world in sales revenue.

Automotive refinish market may change:

Due to the rapid development and strong influence of China's automobile market, the quality certification system of global automobile OEM is gradually opening up, and the original oligopoly structure is gradually loosening. Most European, American and Japanese automobile refinishing paint manufacturers have set up production plants in China or acquired local products in China. The top-ranked independent brand has achieved localization. The original distinction between imported paint and domestic paint has gradually blurred and is no longer suitable for actual market conditions. Sherwin Williams' acquisition of Plana happened during this special period.

The domestic automotive refinishing coatings industry is becoming more and more concentrated, with imported brands occupying more than 70% of the market share, becoming a actual oligopoly. With continued acquisitions and mergers, concentration may continue to intensify in the future. Relevant data shows that Sherwin Williams’ market share in domestic automotive refinishing paint is only 2.26%, far behind rivals such as BASF, PPG, and Axalta. This time it once again sells some of its assets in China, including its automotive coatings business, new variables may arise in Sherwin Williams' business plan in China.