Coatings Industry Sets All-Time Record Highs in 2006

This issue of PCI magazine brings you the 15^th annual listing of the top coatings manufacturers in the world. We ranked both the Top-10 global leaders and the Top-50 North American companies according to their worldwide 2006 global coatings sales figures. All ranking numbers in red indicate a tie for that placement. The PCI 50 also appears yearlong on our website, www.pcimag.com.

            The data in this year’s listings substantiates the information in the Marketplace 2006 yearend report by PCI Contributing Editor Edward Bourguignon and published in the May 1, 2007, issue of this magazine.^* According to the U.S. Census Bureau, the paint industry achieved another record in both shipment volume and value. The total paint industry increased in volume shipped for the year by 3.1% to l,393.4 million gallons; shipment value increased 4.5% to $19,379.6 million. Both volume and value set all-time record highs despite the fact that volatility in the cost and supply of petrochemical derivatives created pressure on the operating performance throughout the year. However, the pressure on margins was often offset by volume growth in emerging markets and prudent cost management in mature markets.

            Despite the turndown in the housing market, the Architectural segment increased in volume shipped and shipment values. There is definitely a softening the Architectural coatings segment taking place, which has continued into this year.

            In general, most companies in both the global and domestic listings reported higher sales in 2006 than in 2005. There are some other differences this time, however that should be pointed out:

• This year we ranked the PCI 50 companies by global coatings sales instead of just North American sales, as we have done in the past.

   

• Since the number of mergers and acquisitions continues to grow, some of the acquired companies are not included because their 2006 earnings were reported only as part of total corporate earnings.

   

• Likewise, some of the biggest paint makers may have gained market share from smaller players who did not make the list.

A trend that we have seen developing among coatings companies is the services they provide through community outreach. For example, an Akzo Nobel initiative has made €10 million available to support deserving community projects all over the world. The Akzo Nobel Community Program is designed to encourage employees to play a more active role in helping society by making funds available that can be used to assist worthwhile local causes. More than 150 projects on all five continents have benefited from the financial and hands-on assistance it offers.

Another trend in the industry is its continuation to produce environmentally friendly paints, taking the lead in producing VOC emission-free products before being forced to do so by legislators. For example, Sico’s new zero-VOC paints deliver outstanding performance, resistance and adhesion – product features that have been an industry challenge with low-VOC finishes. (For more on this topic, read the review of the European Coatings Show.)

While the PCI staff made every effort to seek out the top companies in the industry, we may have inadvertently omitted some. Please let us know if you have interest in being included next year.

^*To access the entire Marketplace report, visit the May 2007 issue at this link.

Press Alert:

As we were going to press, The Sherwin-Williams Company, Cleveland, announced June 1, 2007, that it was able to complete its acquisition of 100% of the stock of M.A. Bruder & Sons Incorporated, headquartered in the Philadelphia area.  This came on the heels of another major acquisition, the announcement May 22, 2007, that Akzo Nobel had significantly broadened its position in the North American wood coatings market after signing an agreement to acquire Chemcraft Holdings Corp., Winston-Salem, N.C., North America’s largest privately owned manufacturer of industrial wood coatings. These two recent acquisitions only help to substantiate the continuing trend toward consolidation within the paint and coatings industry.

Global Top 10

1. Akzo Nobel nv
Arnhem, The Netherlands+31-26-266 4433
www.akzonobel.com
Chairman of the Board of Management: Hans Wijers
Coatings Sales: $8.195 billion*
Akzo Nobel is the world’s largest coatings manufacturer. Coatings showed a strong growth of 12% in global sales, reaching €6.209 billion ($8.195 billion), of which 4% was obtained from recent acquisitions. The company commands leading market posi-tions in nearly all its coatings businesses. The company’s extensive portfolio includes decorative paints; products for industrial applications such as powder, wood, coil and specialty coatings; automotive refin-ishes; marine, protective and aerospace coatings; and coatings-related products such as wood and building adhesives. Brands include global and household names such as Crown®, International®, Sikkens®, Interpon®, Levis® and Sadolin®.
Parent Company: Akzo Nobel, Arnhem, The Netherlands
Source: 2006 annual report, press releases, company contact
Recent Acquisitions and Divestments: Significant acquisitions in 2006 included Sico Inc. (the largest coatings company in Canada), the Flood Company (the biggest independent woodcare business in the United States), Balakom in the Czech Republic and the Ukraine’s Khimrezerv. The company’s growth strategy in China continued to gather pace, with highlights including the opening of two new facilities – in Langfang and Jaishan – and the acquisition of the remaining shares in the Akzo Nobel Chang Cheng Coatings joint venture. On May 22, 2007, Akzo Nobel announced that it had significantly broadened its position in the North American wood coatings market after signing an agreement to acquire Chemcraft Holdings Corp., North America’s largest privately owned manufacturer of industrial wood coatings.

2. PPG Industries, Inc.
Pittsburgh
412/434.3131
www.ppg.com
Chairman /CEO: Charles E. Bunch
Coatings Sales: $6.32 billion*
PPG’s coatings business is made up of coatings for auto OEM, auto refinish, industrial, architectural, aerospace and packaging applications. Pittsburgh Paints is one of three national and four regional brands in PPG’s architectural coatings business. PPG is the technology leader in coatings for the wood-flooring industry. Additionally, PPG is a leader in the supply of paints for consumer electronics, including cell phones, personal digital assistants (PDAs) and computers. It is the largest producer worldwide of transportation OEM and refinish coatings. It also has a global position in industrial and packaging coatings, and is a major player in architectural coatings in the United States. Coatings represent 55% of record-breaking 2006 corporate sales of $11 billion, or $6.32 billion. Industrial Coatings sales increased $315 million or 11% in 2006. Performance and Applied Coatings sales increased $420 million or 16% in 2006.
Source: 2006 Annual Report, company website and company contact
Recent Acquisitions and Divestments: In 2006, Ameron International Corp., Pasadena, Calif., sold its worldwide Performance Coatings & Finishes business to PPG Industries. PPG Industries also acquired the architectural and industrial coatings businesses of Renner Sayerlack, S.A., Gravatai, Brazil and also signed a Memorandum of Understanding with ICI India Ltd., Mumbai, India, to facilitate the acquisition of ICI’s premium automotive refinish business. Upon closing, the business would be acquired by Asian PPG Industries Ltd., a 50-percent joint venture of PPG and Asian Paints Ltd., also of Mumbai.

3. Sherwin-Williams Co.
Cleveland, Ohio
216/566.2000
www.sherwin.com
Chairman, President & CEO: Christopher M. Connor
Coatings Sales: $5.7 billion*
The Sherwin-Williams Company, incorporated in 1884, is engaged in the manufacture, distribution and sale of paint, coatings and related products to professional, industrial, commercial and retail customers primarily in North and South America. Effective January 1, 2006, the company changed its operating segments to Paint Stores Group, Consumer Group and Global Group. Consolidated net sales in 2006 increased $619.1 million, or 8.6%, to $7.81 billion in the year, due primarily to strong paint sales by the Global Group and by stores open for more than 12 calendar months in the Paint Stores Group. It is estimated that between 70% to 75% of sales, or about $5.7 billion, represents coatings sales, with the remainder being related prod-ucts, including wallcoverings, floor coverings and application supplies. The company sells Sherwin-Williams®-labeled architectural coatings, industrial finishes and associated supplies through company-operated paint and wallcovering stores in 50 states, Canada and some countries of Latin America. It also manufactures and sells coatings such as Dutch Boy®, Pratt & Lambert®, Martin-Senour®, Dupli-Color®, Krylon®, Thompson’s® and Minwax®, plus private-label brands to independent dealers, mass merchandisers and home-improvement centers. Sherwin-Williams produces coatings for original equipment manufacturers in a number of industries, and special-purpose coatings for the automotive-aftermarket, industrial-maintenance and traffic-paint markets.
Source: 2006 Annual Report, company website and company contact
Recent Acquisitions: In April 2007, Sherwin-Williams announced its entry into the Indian paint market with its purchase of the business of Nitco Paints. On June 1, 2007, Sherwin-Williams announced that it was able to complete its acquisition of M.A. Bruder & Sons Inc., headquartered in the Philadelphia area. 

4. DuPont Coatings & Color Technologies Group
Wilmington, Del.
302/774.1000
www.dupont.com
Chairman/CEO: Charles O. Holliday Jr.
Group V.P.: Terry Caloghiris
Coatings Sales: $4.1 billion*
DuPont Coatings & Color Technologies Group’s platform includes its core markets of automotive, collision repair, paper, industrial coatings, digital printing, architectural coatings and plastics. The company offers high-performance liquid and powder coatings as well as high-performance specialty products. The group is also the largest manufacturer in the world of titanium dioxide. In 2006, sales of coatings worldwide were at $4.1 bil-lion. North American sales of coatings in 2006 are estimated at $1.4 billion. The Coatings Color Technologies Group’s 2006 worldwide sales, including white pigments, were $6.3 billion. DuPont, the parent company, had worldwide sales of $27.4 billion in 2006.
Parent Company: DuPont
Source: 2006 Annual Report, Data Book, company website and company contact
Notes: In 2006, DuPont announced the development of refinish coatings containing newly invented bio-based polymers, a renewable resource. In May 2006, the company broke ground for a world-class coatings plant in Shanghai, set to open in late 2007.

5. BASF Coatings AG
Münster, Germany
+011 49 2501 14 3160
www.basf.com
CEO/President: Raimar Jahn
Coatings Sales: $3.085 billion* (€2.337 billion)
BASF Coatings AG is the coatings division of the world’s largest chemical company, BASF AG. The company produces and markets a range of automaker coatings, automotive refinishes and industrial coatings. It also produces decorative paints for the South American market. BASF Coatings is one of the world’s leading manufacturers of automotive and industrial lacquer. It also ranks among the top-three global leaders for automotive OEM coatings. Brand names include Glasurit, R-M and Salcomix. For its industrial coatings, the company focuses on coil, foil and powder coatings.
Parent Company: BASF AG
Source: 2006 Annual Report, company website and company contact
Notes: BASF Coatings received General Motors’ Supplier of the Year Award for 2006. The award recognizes BASF for outstanding performance as a global supplier of OEM coatings. It is the fourth time in five years that BASF has received this award.

6. Valspar Corp.
Minneapolis
612/332.7371
www.valspar.com
President/CEO: William L. Mansfield
Coatings Sales: $2.669 billion*
With sales of nearly $3 billion, Valspar achieved growth of 9.7% in 2006. The company operates its coatings-related businesses in two reportable segments: Paints and Coatings. The Paints segment achieved outstanding results with year-over-year sales growth of 13.4%, while the Coatings segment delivered a strong performance of 7.0% year-over-year growth. Revenues in 2006 were $985.7 million in the Paint segment and $1,683.5 million in the Coatings segment for a total in coatings sales of $2.669 billion.
Source: 2006 Annual Report, company website and company contact
Notes: In July 2006, Valspar acquired an 80% interest in Huarun Paints, a leading supplier of furniture, decorative wood and architectural coatings in China. In October 2006, Valspar announced the acquisition of H.B. Fuller’s powder coatings business, providing the company’s first powder-manufacturing capacity in Europe and creating an excellent fit with Valspar’s already substantial U.S. powder business. Subsequent to year-end, Valspar agreed to enter into a joint venture with Tekno S.A. to supply coil coatings in Brazil. Valspar also partnered in 2006 with its largest customer, Lowe’s Companies, to transition Lowe’s nationwide premium paint line to the Valspar brand.

7. SigmaKalon Group BV
Uithoorn, the Netherlands
www.SigmaKalon.com
CEO: Pierre-Marie De Leener
Coatings Sales: $2.5 billion*
With a portfolio of leading brands, SigmaKalon is a worldwide player in decorative, marine, protective and industrial coatings. The company employs around 10,000 people in more than 40 countries, with a focus on Europe, Asia and Africa. SigmaKalon USA LLC was formed on Feb. 1, 2006, in Houston as a Sales, Marketing and Technical group and as an integral part of the Protective Coatings (Industrial) & Marine operating unit of the SigmaKalon worldwide company. The main office is well situated in the energy corridor of Houston to serve the surrounding oil and gas majors and contractors, including marine owners and operators throughout the North American region.
Parent Company: Bain Capital
Source: 2006 Annual report, company website and company contact
Notes: In 2006, SigmaKalon acquired the coil coatings activities of Bollig & Kemper, Cologne, Germany, and opened SigmaKalon Research & Development Center in Kunshan, China. In early 2006, SigmaKalon regretted to announce that due to the effects of Hurricane Katrina, its licensee, Sigma Coatings USA, Harvey, La., a member of the Total group of companies, had been forced to cease operation.

8. ICI Paints
Berkshire, UK
+44 1753550000
www.ici.com
Chairman/Chief Exec.: David Hamill
Coatings Sales: $2.414 billion*
ICI Paints is a leading international paint business and accounted for 50% of the Group’s continuing sales in 2006. It concentrates primarily on decorative paint (90% of ICI Paints’ sales in 2006) and packaging coatings for food and beverage cans. ICI Paints’ global business headquarters is located in Slough, UK. Major manufacturing facilities are located in the United States, UK, Brazil, Argentina, Germany, the Netherlands, France, China, India and Malaysia. ICI Paints maintains its own sales distribution network in over 30 countries. The business also sells through agents and distributors. Paints sales in 2006 were 5% ahead of 2005 on both a comparable and as-reported basis. Sales growth was particularly strong for the Decorative business in Asia. ICI Paints made good progress in the key developing economies of Asia with full-year comparable growth of 16% for the Decorative Paint business. In addition, Decorative UK and Ireland, Decorative Latin America, and Packaging Coatings all delivered good growth. With difficult market conditions in North America, adversely affected by a significant downturn in the housing market, sales for the Decorative business in this region were only slightly ahead of last year. This resulted in modest overall profit improvement in 2006. Raw material costs were higher than the prior year, and while increased selling prices recovered the absolute monetary value of the cost increases, overall gross margin percentages were lower. Consequently, with the impact of the weak trading in North America, trading profit was only 2% ahead of 2005 on a comparable basis and 1% on an as-reported basis, and the trading margin of 10.6% was slightly lower than in 2005 (11.0%).
Parent Company: ICI, Plc
Source: 2006 Annual Report, company website and company contact
Notes: ICI Paints and National Starch commissioned a joint facility in Shanghai to manufacture a range of specialty resins and polymers for adhesive and coating products. In addition, ICI began construction of a new technology center in Shanghai, and ICI Paints invested in new manufacturing projects in China and Vietnam.

9. RPM International Inc.
Medina, Ohio
330/273.5090
www.rpminc.com
CEO/President: Frank C. Sullivan
Coatings Sales: $2.0 billion*
RPM is a holding company with subsidiaries that are world leaders in specialty coatings and sealants serving both industrial and consumer markets. Industrial products include corrosion-control coatings, flooring coatings and specialty chemicals. Major industrial brands are Stonhard, Tremco, illbruck, Carboline, Day-Glo, and Dryvit. Consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement, automotive and boat repair and maintenance, and by hobbyists. Consumer brands include Zinsser, Rust-Oleum, Varathane, Bondo, and Testors. Non-coatings companies include Agpro, Chemical Specialties, Compact Technology, DAP, Ecoloc, Euclid Chemical, Fibergrate, NBFS, Radiant Color, Tremco Barrier Solutions, Vandex and Weatherproofing Technologies.
Subsidiaries: A/D Fire Protection, Alteco Technik, Carboline, Chemical Coatings, Day-Glo, Dryvit Systems, Guardian Protection Products, illbruck, Kop-Coat, Mantrose-Haeuser, Martin Mathys, Modern Masters, New Parks, Nullifire, Republic Powdered Metals, RPM Wood Finishes, RPM/Belgium, Stonhard, TCI, Testors, Tremco, Westfield Coatings, Wolman and Zinsser.
Parent Company: RPM International Inc.
Source: Company contact, 2006 annual report, press releases
Notes: Recent transactions include Rust-Oleum’s acquisition of $45 million Tor Coatings Ltd. in March 2007, Day-Glo’s Dec. 2006 acquisition of the $20 million special-effects colorants business of The Dane Group, Carboline’s Nov. 2006 acquisition of fireproofing manufacturer Nu-Chem, Inc., Tremco’s Nov. 2006 acquisition of roofing and sealants manufacturer Permaquik Corp., Stoncor Group’s Sept. 2006 joint venture with Kemrock Industries in India and Rust-Oleum’s July 2006 acquisition of $20 million concrete-coatings manufacturer The Watco Group.

10. Nippon Paint Co. Ltd.
Osaka, Japan
+81.6.64581111
www.nipponpaint.co.jp
Chairman: Hiroshi Fujii
President: Makoto Matsuura
Coatings Sales: $1.88 billion*
Japan’s oldest paint company is its largest. Founded in 1881, Nippon Paint produces paints and coatings for automakers (one of the company’s major markets), industrial products and ships. It also makes paints for residential and commercial buildings and for the do-it-yourself market. The company’s manufacturing operations are located principally in Asia, but also in North America and Europe. In the United States, Nippon Paint makes automotive coatings and powder coatings through Nippon Paint (America) Coatings. The influx of automakers into China bodes well for the company’s already strong automotive division.
Source: 2006 Annual Report, company website and press releases
Notes: In 2006, Nippon Paint Co. (NPC) purchased the majority of Rohm and Haas’ wholly owned Automotive Coatings business in North America and Rohm and Haas’ 50-percent share of the companies’ joint ventures, Morton Nippon Coatings in North America and Nippon Bee Chemical in Japan. The businesses acquired by NPC collectively represent a leading position in the global automotive plastic-paint market with strong positions in North America, Japan, China, Taiwan and Korea.

The PCI 50

1. PPG Industries, Inc.
Pittsburgh
412/434.3131
www.ppg.com
Chairman/CEO: Charles E. Bunch
Coatings Sales: $6.32 billion*

2. Sherwin-Williams Co.
Cleveland, Ohio
216/566.2000
www.sherwin.com
Chairman, President & CEO: Christopher M. Connor
Coatings Sales: $5.7 billion*

3. DuPont Coatings & Color Technologies Group
Wilmington, Del.
302/774.1000
www.dupont.com
Chairman/CEO: Charles O. Holliday Jr.
Group Vice President: Terry Caloghiris
Coatings Sales: $4.1 billion*

4. Valspar Corp.
Minneapolis
612/332.7371
www.valspar.com
President/CEO: William L. Mansfield
Coatings Sales: $2.669 billion

5. RPM International, Inc.
Medina, Ohio
330/273.5090
www.rpminc.com
CEO/President: Frank C. Sullivan
Coatings Sales: $2 billion*

6. Behr Process Corporation
Santa Ana, Calif.
714/545.7101
www.behr.com
CEO/President: Jeff Filley
Coatings Sales: $l.77 billion*
Masco’s Decorative Architectural Products segment includes Behr Process Corporation and Masterchem Industries, LLC. Segment revenues in 2006 totaled $1.777 billion.
Behr Process Corporation has been one of America’s leading manufacturers of premium architectural coatings since 1947. With a complete line of interior and exterior paints, stains and specialty coatings, Behr offers a product for virtually every consumer coating need. Products are sold under the brand names Premium Plus®, Premium Select®, Premium Plus Ultra®, Plus 10® and others. Already a leader in the DIY market with The Home Depot, Behr Premium Select paint was introduced by Behr for professional application by Masco Contractor Services into the new home construction channel.
Masterchem Industries sells under the brand names of Kilz®, Casual Colors®, Expressions®, Hammerite® and others. These brands are sold through major home centers, paint stores, co-ops, lumber yards and dealers. Kilz, which is the #1 primer brand in the U.S., launched the Casual Colors paint line in 2003 at Wal-Mart.
Parent Company: Masco Corporation.
Source: 2006 Annual report, company website and company contact

7. ICI Paints in North America
Strongsville, Ohio
440/297.8000
www.icipaints.com/northamerica
CEO/President: David Loose
Coatings Sales: $1.66 billion*
ICI Paints is part of the ICI Group, one of the world’s largest producers of specialty products and paints. ICI Paints worldwide has 49 manufacturing sites in 25 countries and more than 15,000 employees. Headquartered in Strongsville, Ohio, near Cleveland, ICI Paints’ North American oper-ations produce decorative coatings brands such as Glidden, Dulux, Ralph Lauren, Devoe, Fuller-O’Brien, Sinclair, C-I-L paint, Color Your World and Liquid Nails caulks and adhesives. Products are sold through company stores, national/retail outlets and independent dealers in the United States, Canada and Puerto Rico, and exported internationally. Glidden paints are carried at all Home Depot stores. ICI Packaging Coatings is also based in Cleveland alongside ICI Paints and has a dominant share of the metal-container interior coatings market.
Parent Company: ICI, Plc
Source: Company website and company contact

8. Comex Group
Mexico City
www.comex.com.mx
CEO: Marcos Achar
President – U.S./ Canada Div.: Kent Child
President - Mexico Division: Leon Cohen
Coatings Sales: $1.43 billion*
The consolidation of Professional Paint, Inc., and Comex is now complete, and the combined group is called “Comex Group.” Professional Paint, Inc., now operates as the U.S. and Canadian Division and Comex Paint as the Mexico division. Mexico’s largest paint manufacturer, Comex Paint, is the leading architectural paint brand in Mexico. In addi-tion to architectural paints, Comex manufactures industrial coatings, automotive paints, roof coatings, wood care products and aerosols. The company distributes its products through over 3,000 independent paint stores (Mexico Div.) and 380 company-owned stores (U.S./Canada Div.), and operates a total of 13 plants: four in Mexico; seven in the United States and two in Canada.
Subsidiaries: Comex, Color Wheel, Frazee, General Paint, Kwal, Parker and Duckback
Source: Company contact
Note: Comex acquired Color Wheel Paint based in Orlando, Fla., on May 31, 2006; opened a new architectural paint plant in Bonham; and recently opened a sheetrock manufacturing plant in Queretaro, Mexico.

9/10. BASF Coatings
Southfield, Mich.
248/827.4670
www.basf.com
Group Vice President: Jay Baker
Coatings Sales: $1 billion*
BASF is the world’s leading chemical company, with products including chemicals, plastics, coatings systems, dispersions, agricultural products, fine chemicals, as well as crude oil and natural gas. Coatings sales in North America include but are not limited to automotive OEM and refinish, industrial OEM products and high-performance industrial maintenance coatings.
Parent Company: BASF, AG
Source: Company contact
Notes: In 2007, General Motors named BASF a 2006 supplier of the year for global coatings; this is the fourth time in five years that General Motors has named BASF one of its “Best of the Best.” BASF Coatings also received a nod from Automotive News via its annual PACE award program. BASF’s industrial coatings team received a 2007 “Metal of Honor” from the readers of Metal Roofing Magazine for being a favorite metal roofing industry supplier.
9/10. Benjamin Moore & Co.
Montvale, N.J.
201/573.9600
www.benjaminmoore.com
Chairman: Yvan Dupuy
President/CEO: Denis Abrams
Coatings Sales: $1 billion*
Benjamin Moore & Co. is primarily a North American paint company. Its products are well known and sold nationally through independent paint stores. It specializes in architectural coatings with some industrial mainte-nance coatings. The company has a small amount of sales overseas.
Parent Company: Berkshire Hathaway, Inc.
Source: Annual report for Berkshire Hathaway, Inc., company website, company contact

11. Dunn-Edwards Corp.
Los Angeles
323/771.3330
www.dunnedwards.com
CEO: Kenneth N. Edwards,
President/COO: Mike Rose
Coatings Sales: $426 million*
Dunn-Edwards, founded in 1925, operates 90 stores in five western states: California, Arizona, New Mexico, Nevada and Texas. Dunn-Edwards manufactures paints, varnishes, lacquers and enamels, and sells private-label paint-related products ranging from ladders to spray equipment. The company caters to architects, designers, painting contractors, homebuilders and property managers in the Southwest; it also serves do-it-yourselfers, although professionals account for a majority of sales.
Source: Company website, company contact

12. Kelly-Moore Paint Co., Inc.
San Carlos, Calif.
650/592.8337
www.kellymoore.com
President: Steve DeVoe
Coatings Sales: $350 million*
Founded in 1946 by William H. Kelly and William E. Moore, the company has grown to be one of the largest employee-owned paint manufacturers and suppliers in the United States. Kelly-Moore Paints operates 160 paint stores for architectural and industrial maintenance coatings in nine western states. The company plans to open additional stores through 2007 and 2008. Kelly-Moore produces over 20 million gallons of paint annually.
Source: Company contact

13. Rohm and Haas Co.
Philadelphia 215/592.3000
www.rohmhaas.com
Chairman, President and CEO: Raj L. Gupta
Coatings Sales: $332 million*
Rohm and Haas is a major specialty-chemical company with worldwide operations. The powder coatings business offers a strong portfolio of powder coatings in a variety of colors, textures, finishes and unique end-use properties that are utilized within the consumer, automotive, architectural, industrial and general metal-finishing industries. The company’s coatings are found on a wide variety of products, from door handles to patio and deck furniture, under-hood components, industrial shelving and architecture. Rohm and Haas has powder coatings operations in Europe, South America and Asia.
Source: 2006 Annual Report and company contact
Notes: As part of an ongoing restructuring program to divest the company’s portfolio of non-strategic businesses, Rohm and Haas sold its North American Automotive Coatings business in 2006 to Nippon Paint Co., Ltd. (NPC), Osaka, Japan.

14. True Value Company
Chicago
773/695.5000
www.truevaluecompany.com
Chairman: Brian A. Webb
President/CEO: Lyle G. Heidemann
Coatings Sales: $328 million*
True Value Company (formerly known as TruServ Corporation) manufactures exclusive brands for its retail identities including True Value paints. True Value Company is one of the largest hardware cooperatives in the nation, with about $2.05 billion in wholesale sales. Paint is manufactured under the True Value brand at one location and distributed nationally throughout the United States. True Value Company serves approximately 6,000 indepen-dent retailers operating under the store identities of True Value, Grand Rental Station, Taylor Rental, Party Central, Home & Garden Showplace and Induserv Supply. Painting and cleaning products represented about 16% of the retailer’s total sales.
Source: 2006 Annual Report, company website

15. Ennis Paint, Inc.
Ennis, Texas
972/875.7272
www.ennispaint.com
Chairman: W. Bryce Anderson
Global Director: John Anderson
Coatings Sales: $301 million*
Ennis Paint, Inc., incorporated in 1996, continues a long history of pavement markings that date back to the 1960s. Ennis Paint is a world leader in both traffic paint and thermoplastics.
Source: Company contact and press release
Notes: In January 2006, Ennis Paint and Reichhold announced the formation of Innovative Performance Systems, LLC