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AUSTRALIAN HARDWARE JOURNAL

| JUNE 2017

NEWS

Sutton Tools scoops

manufacturing awards

Sutton Tools recently took out the year’s

top awards from Business Victoria.

Throughout its history, Sutton Tools has

collected an impressive list of awards and

achievements, however its induction into

the prestigious 2017 Victorian Manufac-

turing Hall of Fame and the 2017 ‘Manu-

facturer of The Year: Large Business’

award, is the latest recognition for the

large family owned Victorian employer.

Sponsored by the Department of Eco-

nomic Development, Jobs, Transport

and Resources, the awards were recently

presented at the Manufacturing Hall

of Fame 2017 Gala Dinner and Awards

Ceremony, staged by Business Victoria.

The 2017 theme of ‘Growing Advanced

Manufacturing’ recognised outstanding

achievements by Victorian businesses and

individuals who uphold a high standard of

excellence in Victorian manufacturing.

Judging parameters included: advance-

ments in technology, manufacturing tech-

niques, rate of growth and application of

lean manufacturing as well as adoption of

best practice throughout the business. The

selection panel also comprised of senior

decision-makers from industry associations.

Opening export markets

While presenting the awards, the Hon

Wade Noonan MP, Minister for Industry

and Employment said, “These awards not

only boost morale among workers, they

open up export market opportunities and

help grow trust among distributors and

customers. The selection panel recognises

that today’s metalworking industry faces

relentless challenges of producing prod-

uct faster, better and cheaper than before.

To achieve these goals, manufacturers

need innovative technology and to adopt

world-class production processes and

techniques,” Minister Noonan said.

Maintaining a commitment to invest-

ment has played a key role in Sutton Tools’

global market success, according to Sutton

Tools Managing Director Peter Sutton.

“It is important to ensure our people,

products and manufacturing techniques

remain world-class. That is why we have

more than 80 staff members who are

trained in Lean and hold a Certificate IV

in Competitive Manufacturing. In addi-

tion, Sutton Tools has an ongoing com-

mitment to apprenticeships and supports

overseas study tours and attendance at

major engineering exhibitions around the

world,” Mr Sutton said.

“The awards were unexpected and we

were incredibly proud and honoured to

receive them on behalf of every Sutton

Tools staff member who has contributed

so much to our successes of today,” he said.

Sherwin-Williams

completes acquisition of

Valspar

Sherwin-Williams Company recently

announced that it has completed its acqui-

sition of The Valspar Corporation. The

approvals from the U.S. Federal Trade

Commission and the Canadian Com-

petition Bureau were the final obstacles

required to close the acquisition of Val-

spar for $113 per share in cash, or about

$11.3 billion.

Valspar, a Minneapolis-based global

paints and coatings company whose con-

sumer paints are sold in home-improve-

ment stores, will be the largest acquisition

in Sherwin-Williams' 151-year history.

The deal will create a massive global

paint company with combined estimated

revenues of $15.6 billion, adjusted earn-

ings of $2.8 billion, and about 58,000

employees.

Sherwin-Williams Chairman, Presi-

dent and Chief Executive Officer, John

Morikis said, "We are pleased to complete

this transaction, and I would like to offi-

cially welcome our new colleagues from

Valspar and the tremendous talent they

bring to Sherwin-Williams. The acquisi-

tion of Valspar accelerates Sherwin-Wil-

liams' global growth strategy and creates

the global leader in paints and coatings.”

“The combination of these two compa-

nies creates a world class brand portfolio,

expanded product range, premier tech-

nology and innovation platforms and an

extensive global footprint.These enhanced

capabilities will benefit our customers and

create sustainable long-term value for our

shareholders,” Mr Morikis said.

With corporate headquarters in Cleve-

land, Ohio, the combined company gen-

erated pro forma 2016 revenues of $15.8

billion and employs approximately 60,000

Sutton Tools Managing Director Peter Sutton with the 2017 Victorian Manufacturing Hall of Fame and the 2017

‘Manufacturer of The Year: Large Business’ award.