Coatings Industry Sets All-Time Record Highs in 2006

            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.

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

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

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 (IPS), a joint venture between their epoxy, modified-urethane and polyurea-based roadway-marking businesses. IPS is owned 50% by Reichhold and 50% by Ennis Paint.

17. TIGER Drylac U.S.A., Inc.
Ontario, California
800/243.8148
www.tigerdrylac.com
CEO/President: Helmut Lehner and Karl Rijkse
Coatings Sales: 160+ million*
TIGER is ranked the fifth-largest pow-der manufacturer in the world with sales of over $160 million and more than 900 employees, and boasts the largest selection of top-of-the-line powder coatings in every type of chemistry, serving among others the architectural, MDF, glass and automotive industries. The U.S. operations were established in 1984 and in 2006 reported North American coatings sales of $76 million. Today, the company operates five warehouse facilities in the United States (Calif., Ill., Penn., Ga., Texas) plus ships from several additional strategic distribution centers. The North American production network includes three facilities in the United States (Calif., Ill. and Penn.).
Source: Company contact

18. Ace Hardware Corp.
Oakbrook, Ill.
630/990.6600
www.acehardware.com
CEO/President: Ray A. Griffith
Chairman of the Board: J. Thomas Glenn
Coatings Sales: $150 million*
Ace Hardware Corp., 82 years old, is the largest-volume member-owned cooperative in the hardware industry. Ace manufactures its own paints and distributes them to member hardware stores. In 2006, the Benjamin Moore® paint rollout was initiated, and nearly 700 Ace stores now carry the line, offering customers a brand choice in paint selection. Ace opened 188 new stores in 2006 and now operates about 5,000 hard-ware stores, mostly in the United States, although it has stores in 70 other coun-tries. In 2006, Ace Paint grew in both dollars and gallons sold with dollars up 6.6% and gallons sold up to 10.4 million gallons. Paint, cleaning and related sup-plies represent about 22% of Ace ware-house sales. About 4% of total sales are outside the United States.
Source: Company contact

19/20. Chemcraft International
Winston-Salem, N.C.
336/723.1846
www.chemcraft.com
CEO/President: David Rogers
Coatings Sales: $146 million*
Chemcraft, founded in 1977, manufac-tures coatings primarily for wood, kitchen cabinets, furniture, wood flooring and millwork manufacturers. Its products include nitrocellulose lacquers, waterborne finishes, and polyester, polyurethane and UV coatings, as well as vinyl finishes. Chemcraft has 13 locations in North America, including seven manufacturing plants.
Subsidiaries: Alternative Materials Technology, which represents substantially all of the assets of Polymer Solutions, and a minority interest in Singapore-based Inchem Holdings Interna-tional Inc., which has ownership of coatings manufacturers in Malaysia, Vietnam and China. In 2006, Chemcraft acquired a majority interest in Chemcraft do Brasil, which represents substantially all the assets of ICD coatings.
Notes: 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.
Source: Company contact

19/20. M.A. Bruder & Sons Inc.
Broomall, Pa.
610/353.5100
www.mabpaints.com
CEO/President: Thomas A. Bruder Jr.
Coatings Sales: $146 million*
Headquartered in the Philadelphia area, M.A. Bruder & Sons Inc.  is a leading manufacturer and distributor of paints and coatings in the Eastern and Southeastern portions of the United States.  M.A. Bruder services the professional painting contractor, builder and do-it-yourself markets through 132 company-owned stores.
Source: Company contact
Notes: On June 1, 2007, Sherwin-Williams Company, Cleveland, announced the completion of the acquisition of M.A. Bruder & Sons Inc.

21. Diamond Paints Co.
Orange City, Iowa
712/737.8880
www.diamondvogel.com
President/CEO: Drew Vogel
Coatings Sales: $130 million*
Vogel Paints was started in 1926 and became Diamond Vogel Paints after the acquisition of Diamond Products in 1967. The company sells architectural coatings in 80 company-owned stores in 13 central states. Diamond Vogel also produces industrial coatings for a wide variety of OEM products, and markets heavy-duty maintenance coatings. It acquired certain assets of Davis-Frost and Four Seasons Paint to expand its industrial-coatings offerings. A new powder-coating plant has been started to expand its industrial-coatings product line.
Subsidiaries: Diamond Vogel Paints, Van Sickle Paint Mfg. Co. and Diamond Products.
Parent Company: Vogel Paint, Inc.
Source: Company website, press releases, Internet

22. Spraylat Corp.
Pelham, N.Y.
914/738.1600
www.spraylat.com
CEO: Michael Borner
President: Raymond T. Chlodney
Coatings Sales: $121 million*
Spraylat Corporation, founded in 1936, is an innovative supplier to the product finishing market, offering both decorative and functional coatings. Spraylat began production of powder coatings in 1987. It offers high-technology coatings, including electrically conductive coatings for EMI/RFI shielding, lightning protection and Polymer Thick Film (PTF) inks for membrane switches and printed antennas. Spraylat’s Liquid Business Unit provides high-performance coatings for heavy equipment, automotive, specialty OEM applica-tions, as well as solutions and coatings for mirror manufacturing. Spraylat’s global operations include locations in North America, Europe and Asia.
Subsidiaries: Hilemn LLC, Spraylat GmbH (in Germany), Spraylat Coatings (Shanghai) Ltd., and Spraylat de Mexico.
Source: Company contact

23. Insl-x Products Corp.
Stony Point, NY
845/786.5000
www.insl-x.com
CEO/President: James A. Weil
Coatings Sales: $120 million*
Insl-x manufactures a broad range of industrial and high-performance coatings. Its products are marketed nationally through a network of distribution warehouses. In September 2004, Insl-x acquired Wattyl Ltd.’s Coronado Paint Co. Inc. and Lenmar Inc. coatings units. Coronado, based in Edgewater, Fla., is a producer of architectural coatings. Lenmar, based in Baltimore, Md., is a manufacturer of lacquers and polyurethane coatings. In September 2006, Insl-x purchased the lacquer division of Trinity Coatings. Trinity, based in Mineral Wells, Texas, a manufacturer of pre-coats, lacquers and conversion varnishes, fits well with and expands on the earlier acquisition in the lacquer market. In late 2006, Insl-x launched the STAINMASTER® Paint brand in the United States market. STAINMASTER Paint is a line of very high quality interior finishes and primers that appeals to consumers and professionals. The Insl-x family of products now includes industrial coatings, architectural coatings, and stains and clear finishes.
Source: Company contact

24. ELANTAS PDG, Inc. (formerly The P.D. George Co.)
St. Louis
314/621.5700
www.elantas.com
CEO/President: Dr. Susan W. Graham
Coatings Sales: $118 million*
The P.D. George Company, founded over 86 years ago, is a premier supplier of specialty polymers for the electrical and electronic industries. It is now known as ELANTAS PDG, Inc., having been further united under the ALTANA umbrella. The key products of ELANTAS PDG include magnet wire enamel, insulating varnishes and encapsulating resins. It also produces tubing and sleeving varnishes, pultrusion resins, laminating resins, adhesives and conformal coatings. ELANTAS PDG offers a strong global approach to research, manufacturing and service.
Parent Company: ALTANA, AG, of Germany
Source: Websites, press releases, financial report, company contact

25. Vista Paints
Fullerton, Calif.
714/680.3800
www.vistapaint.com
CEO/President: Eddie Fischer
Coatings Sales: $105 million*
Vista Paints, founded in 1960, is a manufacturer of high-quality paints and coatings for the architectural and industrial-maintenance markets for sale through 46 company-owned stores in Southern California, Las Vegas and Sacramento, Calif. Its customers include the professional painter and the DIY consumer. The stores supply wallpaper, window coverings and related painting supplies in addition to paint.
Source: Company contact

26. Red Spot Paint & Varnish Co.
Evansville, Ind.
812/428.9100
www.redspot.com
CEO/President: Charles D. Storms
Coatings Sales: $103 million*
Red Spot is a privately held global coatings manufacturer specializing in coat-ings for plastics. Red Spot’s core businesses are automotive interior, exterior and forward lighting products. Red Spot is the market leader in coatings for automotive forward lighting, interior rigid applications, laser etch applica-tions for radio and climate controls, in-mold for IPs and door panels, and composite primers and topcoats for automotive body parts. Its products are sold globally via export and produced globally through licensing and joint ventures. Red Spot’s Global Alliance with Fujikura Kasei, in Asia, and Sonneborn and Rieck, in Europe, allow the company to meet the needs of global automotive OEMs and Tier 1s outside the Americas. Specialty Products applications include coatings for power sports vehicles; golf balls, shafts and heads; cosmetic packaging; and other markets where custom solutions are required.
Source: Company contact

27. LORD Corporation
Cary, N.C.
877-ASK-LORD
www.lord.com
CEO/President: Richard L. McNeal
Coatings Sales: $100 million*
LORD Corp., founded in 1924, designs, formulates, manufactures and markets adhesives, polyurethane coatings, and devices and systems to manage mechanical motion and control noise. It makes coatings for direct sale and for sale to other coatings companies. The company manufactures and sells products worldwide. LORD Corp. is privately held with worldwide sales amounting to over $630 million in 2006.
Source: Company contact
Notes: In 2006, LORD Corp. purchased certain assets of Henkel KGaA of Düsseldorf, Germany, comprising Henkel’s elastomer device bonding and coatings business. The business primarily serves automotive and industrial customers, and includes the trade names Chemosil, Flocksil, Cuvertin and Sipiol.

28. Tnemec Company, Inc.
Kansas City, Mo.
800/863.6321
www.tnemec.com
CEO/President: Peter Cortelyou
Coatings Sales: $96 million*
Tnemec Co., cement spelled backward, founded in 1921, manufactures more than one hundred architectural and industrial coatings - from premium epoxies and polyurethanes to specialized fluoropolymer and polyurea products - formulated specifically for extreme durability, enduring performance and enhanced aesthetics. Tnemec is a leading supplier of interior and exterior coatings for water storage tanks. Tnemec’s StrataShield brand consists of resinous floor and wall coatings. The company’s Chemprobe subsidiary offers water-repellent and stain products for concrete, masonry and wood.
Subsidiary: Chemprobe Coating Systems
Source: Company contact

29. Yenkin-Majestic Paint Corp.
Columbus, Ohio
614/253.8511
www.majicpaints.com
www.yenkin-majestic.com
www.opcpolymers.com
President: Jonathan M. Petuchowski
COO: Andrew O. Smith
Coatings Sales: $95 million*
Yenkin-Majestic, founded in 1920, is a full-line manufacturer of architectural, maintenance and OEM products for waterborne and solventborne industrial applications, including urethanes, epoxies and polyesters. Its full line of paints includes interior and exterior products and a variety of specialties, including a complete farm-paint program and rust-inhibiting coatings. Its OPC Polymers operations have expanded beyond the U.S. national market, with representation and service throughout North America. Product categories are alkyds, oil-modified urethanes, monomer-modified combinations, high solids, water reducibles and VOC-compliant vehicles.
Subsidiaries: OPC Polymers
Source: Company contact

30. Quest Specialty Chemicals, Inc.
Seabrook, N.H.
603/468.1917
www.questsc.com
CEO: Fred Quinn
COO: Gerry Loftus
Coatings Sales: $87.362 million*
Founded in 2002 by CEO Fred Quinn, Quest Specialty Chemicals is funded through private equity by Huron Capital Partners of Detroit and TBG Capital of Dover, Mass. Quest’s mission is to acquire and build specialty chemical companies who are engaged in the formulation of coatings, adhesives and sealant products, which are designed to provide surface protection to, or the bonding of, flexible and rigid substrates. Quest seeks enterprises whose core competencies and drive are based on differentiated and defensible product technology in combination with a market-niche strategy focus.
Subsidiaries: United Coatings Manufacturing Company, Matrix System Automotive Finishes LLC, Raabe Company LLC and Foxcolor, which is now a part of Raabe.
United Coatings Manufacturing Co., www.unitedcoatings.com, with over 85 years of manufacturing experience, offers a full line of premium-quality protective coatings for a wide range of architectural, industrial and roofing applications. United’s product line includes systems for interior and exterior walls, pedestrian and vehicular traffic decks, potable water storage, waste/water treatment, secondary containment, interior and exterior pipe lining, and new or existing roofs. United operates from its facilities in Spokane, Wash.; Tempe, Ariz.; and a joint venture in China. With distribution in over 40 countries, United markets its products on a worldwide basis.
Matrix System Automotive Finishes LLC is the largest independent manufacturer and distributor of automotive refinish paint products in the country. Matrix paints, primers, clearcoats, hardeners and solvents are used in more than 5,000 body shops on more than 1,000,000 cars per year. Since 1983, the company’s facilities have expanded to over 85,000 square feet, which include a modern production facility and a corporate headquarters and warehouse in Walled Lake, Mich.
Raabe Company LLC, Menominee Falls, Wis., is a leading manufacturer of custom-matched branded touchup paint and provider of private-label aerosol and liquid paint filling services. Raabe’s touchup products consist of ready-to-apply paints that closely match OEM coatings and are used to repair the surfaces of industrial OEM products along all points of the supply chain.  The company has a variety of liquid and aerosol filling equipment, which allows Raabe to fill a range of aerosol cans and liquid containers, from ¼ ounce to 5 gallons with several different propellant types. Customers are OEM manufacturers, custom coaters/fabricators, arts and crafts marketers, and coatings and specialty chemicals marketers. In July 2005, Raabe acquired Foxcolor and continues to manufacture its product lines.

32. Columbia Paint & Coatings
Spokane, Wash.
509/535.0954
www.columbiapaint.com
CEO/President: H.H. Larison
Coatings Sales: $73.5 million*
Columbia Paint and Coatings, in busi-ness since 1947, manufactures and supplies architectural and industrial coatings to DIY consumers and paint contractors in the Northwest and Mountain West areas of the United States. It operates 41 retail-wholesale stores in Washington, Idaho, Mon-tana, Oregon, Utah, Wyoming, North Dakota and Alaska.
Source: Company contact

33. Seibert Powder Coatings
Cleveland
216/631.2002
CEO/President: Sam Rhue
Coatings Sales: $63 million*
Seibert Powder Coatings produces finishes primarily for the automotive industry. It also produces private-label products for the industrial, lawn and garden, architectural, and steel office-furniture markets. The facility for liquid coatings operates at the same location under the name NPA, Automotive. The company is affiliated with Nippon Paint of Japan and known as NPA Coatings, Inc.
Source: Company contact

34. California Products Corp.
Andover, Mass.
978/623.9980
www.californiapaints.com
CEO/President: Joseph Junkin
Coatings Sales: $60 million*
California Paints, founded in 1926, manufactures coatings for architectural, consumers and contractors. California Products produces interior and exterior architectural paints.
Subsidiaries: Plexipave Sport Surfacing Systems, Deco Tennis Surfacing Systems, Fiberlock Technologies, Inc.
Source: Company website, company contact

35. Hentzen Coatings, Inc.
Milwaukee 414/353.4200
www.hentzen.com
CEO/President: Albert Hentzen
Coatings Sales: $55 million*
Hentzen Coatings, founded in 1923, is a developer of advanced-technology coatings for the industrial OEM and military markets. The company markets a wide range of industrial coatings, including waterborne, solvent-reducible and powder coatings.
Source: Company contact

36. Gemini Industries
El Reno, Okla.
405/262.5710
www.gemini-coatings.com
CEO/President: Roger Woolery
Coatings Sales: $50.5 million*
Founded in 1964, Gemini Industries is an employee-owned company that manufactures and distributes an extensive line of coatings, aerosol products and touchup materials for the architectural wood-finishing market. A sophisticated line of high-performance coatings for cabinetmakers, furniture finishers and refinishes represents 50% of sales. It also manufactures a line of EPA-registered wood preservatives and related products for use on exterior decks, siding and fences. Gemini has five plants and distribution facilities to provide nationwide service.
Parent Company: Gemini Industries
Source: Company contact

37. Aervoe Industries, Inc.
Gardnerville, Nev.
775/783.3100
www.aervoe.com
CEO: David A Williams
President: Mark D. Williams
Coatings Sales: $50 million*
Aervoe Industries, Inc., is a manufacturer and marketer of coatings, chemicals, lubricants and cleaners. Products are sold through both the industrial and consumer channels. Brands include Aervoe, Crown, Contractor Specialties, Zynolyte and Wind n Go. Products are sold worldwide through independent distribution channels, paint stores, MRO and Stafda Distribution. Aervoe is the acknowledged leading supplier of Inverted marking paints, worldwide, and the leading supplier of specialty coatings to the municipal marketplace. Products are manufactured in Gardnerville, Nev., and shipped from Nevada or Nashville, Ill.
Source: Company contact

38/39. Daubert Chemical Company, Inc.
Chicago
708/496.7350
www.daubertchemical.com
CEO/President: Mike Dwyer
Coatings Sales: $42 million*
Daubert Chemical Co., founded in 1935, is an industrial coatings manufacturer. It specializes in corrosion-prevention coatings, industrial anti-skid coatings, sound-deadening coatings, specialty adhesives, as well as concentrate formulations to service the aerosol packaging industry. It primarily markets directly, with some distributor sales.
Parent Company: Daubert Industries
Source: Company contact

38/39. Deft, Inc.
Irvine, Calif.
949/474.0400
www.deftfinishes.com
CEO/President: William A. Desmond
Coatings Sales: $42 million*
Deft, a 62-year-old business, produces a full line of professional-quality, yet easy-to-use, interior wood stains and finishes, and commercial and military-specification primers and coatings.
Source: Company contact

40/41. Hirshfield’s Paint Mfg. Co.
Minneapolis, Minn.
612/522.6621
www.hirshfields.com
President: Hans Hirshfield
Operations Director: Jason Boedigheimer
Coatings Sales: $40 million*
Hirshfield’s Paint Manufacturing, the largest manufacturer of trade sales paint in Minnesota, produces paints, stains and specialty finishes for residential, commercial and industrial markets. Hirshfield’s brand paints are backed by a tradition of quality, excellence and service, which has endured since Frank and Elizabeth Hirshfield opened their first store in 1894. Today, Hirshfield’s Paint Manufacturing provides consumer and professional coatings through 31 company-owned stores. In addition to their own brand, Hirshfield’s offers customers brand choices in paint selection with Benjamin Moore, Pratt & Lambert, Cabot Stains, and Sikkens.
Source: Company website and company contact

40/41. United Gilsonite Laboratories
Dunmore, Pa.
570/344.1202
www.ugl.com
CEO/President: Thomas White
Coatings Sales: $40 million*
United Gilsonite Laboratories (UGL) manufactures over 80 paint-specialty and home-maintenance products that are sold nationally and internationally at hardware stores, home centers, paint stores and lumberyards. Its main brands are Zar and Drylok. UGL exports products to nearly 80 countries.
Source: Company contact

42. Sheboygan Paint Co.
Sheboygan, Wis.
920/458.2157
www.shebpaint.com
CEO: Brock Brownrigg
President: Charlie Malingowski
Coatings Sales: $37.1 million*
The Sheboygan Paint Company, a family owned business founded in 1921, formulates and manufactures custom industrial finishes for national distribution. A broad product portfolio includes coatings to service wood, transportation, waste, agricultural and many other general industrial markets. Current technologies include epoxy primers, zinc-rich primers and two-component urethane chemistries.
Joint Venture: Atomized Powder Coatings, Terre Haute, Ind.
Source: Company contact

43. McCormick Paints
Rockville, Md.
301/770.3235
www.mccormickpaints.com
CEO/President: J. Casey McCormick
Coatings Sales: $37 million*
McCormick Paints was founded in 1960 to manufacture and sell a full line of architectural paints for DIY consumers and contractors. These are sold through 24 company-owned stores and through independent paint dealers throughout the Mid-Atlantic region. Coatings are also produced for heavy-duty maintenance and traffic marking. McCormick Paints is the Mid-Atlantic Region distributor for DuPont industrial coatings. It has a GSA government contract and sells products overseas.
Source: Company contact

44. The Muralo Co., Inc.
Bayonne, N.J.
201/437.0770
www.muralo.com
CEO/President: James S. Norton
Coatings Sales: $33 million*
Muralo, founded in 1894, manufactures a broad line of architectural coatings sold through independent paint stores. With manufacturing located across the United States, Muralo can supply its customers nationally. Muralo also offers Spackle® spackling compound and brush, patch and repair products.
Subsidiaries: Elder and Jenks Inc., Synkoloid, and Graham Paint and Varnish Co.
Source: Company contact

46. U.S. Paint Corp.
St. Louis
314/621.0525
www.uspaint.com
CEO/President: John Duchardt
Coatings Sales: $31 million*
U.S. Paint specializes in the development, manufacture and support of advanced one-component and two-component coatings for plastics. A former key coatings supplier to the marine and aviation markets, U.S. Paint now focuses solely on providing specialty high-appearance coatings for plastics to the automotive, power sports and industrial markets.
Source: Company contact

47. INX International Ink Co.
Schaumburg, Ill.
630/382.1800
www.inxinternational.com
CEO/President: Rick Clendenning
Coatings Sales: $30 million*
INX offers an extensive line of inks and coatings for all printing and packaging market segments of the graphic arts industry. It is a subsidiary of Sakata Inx Corp., a Japanese company. It sells over-print varnishes, aqueous coatings, UV/EB coatings and metal-decorating coatings along with a full line of inks. INX is the third-largest ink manufacturer in North America.
Parent Company: Sakata Inx Corp.
Source: Company contact

48. Waverly
New York, N.Y.
www.waverly.com
President: Richard Platt
Coatings Sales: $27.4 million*
Launched in 1923 by F. Schumacher & Co., Waverly is a premier home fashion and furnishings lifestyle brand and one of the most recognized names in home furnishings. Its signature look is expertly translated into countless classic styles among licensed home furnishing products, including fabrics, wallpapers, paint, bedding, window treatments, decorative accessories and other key products. Waverly is available through retailers and interior design showrooms nationwide and internationally. Its family of brands consists of Waverly, Waverly Home Classics, Waverly Garden Room, Waverly Baby, and Waverly Dècor.
Parent Company: NexCen Brands, Inc.
Source: Company contact

49/50. O’Leary Paint Co.
Lansing, Mich.
517/487.2066
www.olearypaint.com
President: David M. O’Leary
Co-President: John O’Leary
Coatings Sales: $25-20 million*
O’Leary Paint manufactures and distributes high-quality architectural, commercial, and industrial paints, coatings and related equipment and supplies. The products are specifically formulated to provide optimum performance for the rugged Midwest climate. O’Leary Paint’s 100% acrylic interior latex paints stay cleaner and fresher longer with Microban® anti-microbial product protection. O’Leary Paint’s Ceramic Coat with Ceramic Stain-Release Technology helps walls and trim maintain that just-painted look in homes, schools, healthcare facilities, offices and more.
Source: Company website and company contact

49/50. Anchor Paint Manufacturing Co.
Tulsa, Okla.
918/836.4626
www.anchorpaint.com
CEO: Chip Meade
President: Chuck Taylor
Coatings Sales: $23 million*
Anchor Paint specializes in manufacturing custom-formulated products for the industrial OEM and maintenance market including low-VOC and low-HAPS primers, enamels, epoxies, urethanes and waterborne coatings. Anchor also manufactures a full line of architectural enamels, sealers and coatings. Anchor products are distributed directly to domestic and international customers through the plant headquarters and seven company-owned locations as well as 25 independent dealers.
Source: Website and company contact

Honorable Mentions

Golden Artist Colors, Inc.
New Berlin, N.Y.
607/847.6154
www.goldenpaints.com
CEO: Mark Golden
President: Barbara Schindler
Coatings Sales: $17.9 million*
Golden Artist Colors, Inc., founded in 1980, manufactures and supplies professional-grade acrylic paints and materials for artists worldwide.
Source: Company contact

Passonno Paints
Watervliet, N.Y.
518/273.3822
www.passonnopaints.com
President: Richard B. Cunningham
Coatings Sales: $6 million*
Passonno Paints manufactures architectural and industrial maintenance coatings, both latex and oil-base systems. The company specializes in high-solids acrylic latex coatings, as well as driveway sealers and roof coatings. Passonno Paints operates seven retail stores and decorating centers. The company uses data color-matching computers in the production of some 2,000 colors. Passonno Paints also provides Waverly Home Fashion products to coordinate with the many patterns of wall covering and carpet for commercial and residential jobs. Passonno also distributes DuPont high-performance coatings and Graco spray equipment and pumps.
Source: Company website, Internet and company contact

The Mahoning Paint Corp.
Youngstown, Ohio
330/744.2139
www.mahoningpaintcorp.com
President: Charles C. Rumberg
Coatings Sales: over $5 million*
The Mahoning Paint Corp. effectively researches, designs and manufactures custom coatings for industrial applications such as steel pipe and tube, steel drums, steel strapping, steel coil, aluminum extrusion, the OEM wood industry, maintenance coatings, general maintenance, and structural steel. Some popular categories of coatings are ultraviolet coatings, water-reducible baking systems, high-solids air-dry systems, low VOCs, HAPS free, heavy-metal free; high-solids baking systems; non-lifting primers and maintenance coatings; water-reducible air-dry systems, and direct-to-metal coatings. The company has been in operation since 1911 and recently has launched a new product line called LEC . . . low-energy cure coatings available in waterborne and high-solids systems that can reduce oven temperatures for curing by nearly 50%.
Source: Company website and company contact

* Estimated global coatings sales in 2006