Cleveland-based The Sherwin-Williams Co. completed its previously announced acquisitions of 100 percent of the stock of Duron Inc. and Paint Sundry Brands Corp. The aggregate consideration for these acquisitions, including the assumption of certain financial obligations, is approximately $625 million. Sherwin-Williams will finance the acquisitions through the use of cash, liquidated short-term investments and $350 million in proceeds from the sale of commercial paper under its existing commercial paper program.

The acquisitions, which will be reflected in Sherwin-Williams' 2004 financial statements for the months of September through December, will be only slightly accretive to earnings due to the seasonality of the two businesses and transaction expenses. As a result of the slight accretion to earnings, Sherwin-Williams has not changed its previously announced earnings expectations for the 2004 year of $2.58 to $2.66 per share compared to $2.26 per share in 2003.