AUSTRALIAN HARDWARE JOURNAL
| JUNE 2017
Sutton Tools scoops
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.
completes acquisition of
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
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
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.