Sherwin-Williams To Explore Options For New R&D Facility, New Global HQ

(RTTNews) - Sherwin-Williams Co. (SHW) announced Thursday that it has initiated a process to explore options for a new R&D facility and a new global headquarters. This action comes as a result of the company's ongoing review of its facilities requirements.

The company said its significant growth and global expansion over the last several decades has resulted in a less than optimal configuration of headquarters, offices and R&D facilities across multiple locations.

As part of the exploratory process, Sherwin-Williams will consider multiple potential sites, including locations in Cleveland, Northeast Ohio and several other states. Any transition to new facilities is not expected to occur until 2023 at the earliest and would require Board approval.

The move is expected to help the company to accelerate productivity and efficiency, enhance technology and innovation, enable greater collaboration, support recruitment and retention and reduce maintenance costs over the long term.