International. The positive balance in sales was one of the most striking points of the financial results of the previous year presented by the company Sherwin Williams; the company identified its success in the rise in the sale of paints to groups in Latin America and finishes globally, thus beginning a 2012 with record numbers in its history.
Taking as a reference the figures of 2010, sales increased last year US $ 983.3 million, or 12.7%, thus reaching a total of US $ 8,770 million throughout the year. Acquisitions increased net sales by 4.5% in the year, while changes in currency conversion rates gave a gain of 0.7%.
Net sales of coatings in Latin America grew 22.7% represented by US$828.5 million in the year, mainly encouraged by acquisitions, increased sales price, higher volume in paint sales and favorable context in exchange rates.
Christopher M. Connor, President and Chief Executive Officer of Sherwin Williams, said, "We are pleased to report record profits and sales in 2011 even as there was a weak demand environment and material prices increased; our segment operation will continue to control costs and implement price increases in an effort to go hand in hand with raw material costs."
Despite last year's good numbers, Sherwin Williams executives are not relaxing efforts to surpass it in 2012, "for the first quarter of the year we anticipate our consolidation with the increase in sales of 9 to 14% compared to the first quarter of 2011," said M. Connor.
