It seems the next few years will be a tumultuous time for transportation companies.
The industry is in an upheaval as consumers demand more affordable, environmentally friendly transportation options.
The latest news on the future of the auto industry comes from auto manufacturer and investor Sherwin-Williams, who announced on Wednesday that it would close its Michigan operations.
Sherwin Williams, the largest auto company in the world, announced in January it would shut down all its facilities by 2020.
The news of Sherwin’s decision comes on the heels of news that Uber and Lyft will close their operations in Michigan.
The news of the two companies leaving the state came after Michigan Governor Rick Snyder signed a law that allows the two ride-hailing companies to begin operating in the state.
In an email to investors, Sherwin wrote, “This decision will help ensure that the future is a brighter one for the Michigan economy, and that future generations will have access to the same transportation options that we have today.”
Sherwin-Wilks Detroit operations will shut down by 2020 The announcement comes less than a month after the state approved the state’s first ride-sharing bill, which includes a requirement for ride-share drivers to have a valid driver’s license and have been certified by the state in at least one of their prior rides.
The law also requires ride-takers to obtain a minimum of a one-year permit from the state, but Sherwin is hopeful that more cities will follow suit.
In a statement, Sherwood Williams wrote, SherWIN will continue to offer our customers the best transportation options possible in the coming years, but it is time to move beyond the current landscape of our business and move to a new future.
Sherwin’s Detroit operations, which have been in business since 1974, are still in business, and the company is expected to be a profitable enterprise.
Sherwood wrote that Sherwin expects to close all of its Michigan facilities by the end of 2020.
The company did not reveal the locations of the closed Sherwin facilities.
If you want more information on Sherwin, you can read the company’s full statement.
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