Global Top 10 and the PCI 25
View the most current Global Top 10 and PCI 25 here.
1. PPG Industries, Inc.
Pittsburgh
412/434.3131
Chairman/CEO: Charles E. Bunch
Coatings Sales (Net): Approx. $14.3 billion
PPG’s global coatings businesses comprise coatings for the aerospace, architectural, automotive OEM, automotive refinish, industrial, packaging, protective and marine, and specialty markets. The company serves customers in markets and aftermarkets for transportation, industrial, consumer products and construction. PPG is the world’s leading manufacturer of transportation OEM and refinish coatings.
In 2014, PPG delivered record full-year adjusted earnings from continuing operations of $9.75 per diluted share, as well as record earnings in each major geographic region. Full-year net sales increased about 9.6 percent year-over-year to $8.7 billion for the company’s Performance Coatings segment [aerospace; architectural coatings, Americas and Asia Pacific; architectural coatings, EMEA (Europe, Middle East and Africa); automotive refinish; and protective and marine coatings businesses] and about 5.5 percent year-over-year to $5.6 billion for the Industrial Coatings segment (automotive OEM coatings, industrial coatings, packaging coatings, and specialty coatings and materials businesses). Coatings represented about 93 percent of PPG’s 2014 total net sales from continuing operations of $15.4 billion. Notably, PPG achieved record cash flow from continuing operations in 2014 of about $1.8 billion.
Source: 2014 Annual Report, company website, company contact
Notes: PPG continued its portfolio transformation in 2014, completing the sale of both its ownership interest in the Transitions Optical joint venture and its wholly owned sunlens group in April, as well as the sale of its Mount Zion, IL, glass manufacturing facility in September. Acquisitions in the coatings industry in 2014 included Hi-Temp Coatings Technology in March, Panama-based protective and marine coatings supplier Canal Supplies Inc. in June, and decorative aerosol drywall and ceiling-texturing application supplier The Homax Group in July. Most notably, PPG completed its acquisition of leading Mexican paint manufacturer Comex – the second-largest acquisition in PPG’s history – in November, adding a high-quality architectural coatings business that serves Mexico and Central America to its portfolio.
Additionally in 2014, PPG spent $587 million – nearly 14 percent more than in 2013 – to continue driving organic growth by expanding its businesses and modernizing operations for improved productivity. In March, the company announced plans to invest more than $27 million in its San Juan del Rio, Querétaro, Mexico, facility to meet increasing demand in Latin America for its coatings. In June 2014, PPG announced plans to invest about $40 million in its Sumaré, São Paulo, Brazil, manufacturing facility to add on-site resin production for electrocoat products, and it celebrated completion of this expansion in March 2015. PPG also initiated a $70 million expansion of its resin production facility in Zhangjiagang, China, in September 2014, and it completed a nearly $12 million expansion of its Cheonan, South Korea, facility to increase resin production for waterborne coatings in December.
In terms of leadership, PPG Executive Vice President Michael H. McGarry was named Chief Operating Officer in August 2014 and additionally appointed President as of March 2015. McGarry now oversees all PPG’s businesses and operating regions as well as the global corporate information technology (IT), environment, health and safety (EHS), and purchasing and logistics functions. PPG Executive Vice President Viktoras R. Sekmakas now leads the industrial coatings, packaging coatings, flat glass, fiber glass, and specialty coatings and materials businesses as well as the Asia Pacific region, and he has managerial responsibility for the purchasing and logistics function. Also, effective March 2015, Senior Vice President of Strategic Planning and Corporate Development, David B. Navikas, retired.
2. Akzo Nobel nv
Amsterdam, The Netherlands
+31.20.502.7833
Chairman of the Board of Management: Ton Büchner
Coatings Sales: $11.5 billion (€9.5 billion)
AkzoNobel is a leading global coatings company and a major producer of specialty chemicals. The company supplies industries and consumers worldwide with innovative products and is committed to developing sustainable answers for customers. AkzoNobel’s portfolio includes well-known brands such as Dulux, Sikkens, International and Eka. The company is consistently ranked as a leader in the area of sustainability, including the company’s forward-thinking Human Cities initiative. With operations in more than 80 countries, -AkzoNobel employs 47,200 people around the world with over 200 production sites.
Parent company: AkzoNobel
Source: AkzoNobel Report 2014, press releases
Notes: In August 2014, AkzoNobel broke ground on a new Decorative Paints site in Chengdu, capital city of Sichuan Province, China. In October, the company started operations at its vehicle refinishes plant in Changzhou, which added around 25 million liters of capacity for Sikkens, Lesonal and Prime vehicle refinishes products. At the end of 2014, the company started operations at its new powder coatings plant in Dubai, which increased capacity for the company’s Interpon and Resicoat products. In February of this year, AkzoNobel Performance Coatings announced plans to invest €2.5 million to expand its plant in Cikarang, Indonesia, which will add capacity to the company’s International brand products. In May, the company announced plans to invest more than €30 million in a manufacturing facility in Thailand to support regional growth of its Performance Coatings business.
3. Sherwin-Williams Co.
Cleveland
216/566.2000
Chairman/CEO: Christopher M. Connor
Coatings Sales: Approx. $8.35 billion
The Sherwin-Williams Co. is engaged in the manufacture, distribution and sale of coatings and related products to professional, industrial, commercial and retail customers primarily in North and South America. The company has four operating segments: Paint Stores Group, Consumer Group, Latin America Coatings Group and Global Finishes Group. Net sales for the Global Finishes Group increased 3.8 percent to $2.08 billion in 2014, despite a 1.6 percent drag from currency valuation. Net sales for the Paint Stores Group increased 14.2 percent to $6.85 billion, and comparable-store sales, sales by stores open more than 12 months, increased 8.8 percent during the year. Net sales for the Consumers Group increased 5.9 percent to $1.42 billion for 2014. In 2014, unfavorable currency exchange rates in many Latin American countries again posed a challenge to revenue and profits for the company’s Latin America Coatings Group. Net sales for the group decreased 7.3 percent to $771.4 million.
Sherwin-Williams reported total consolidated sales for 2014 of approximately $11.13 billion, a 9.3 percent increase over 2013. It is estimated that between 70 – 75 percent of sales, or about $8.35 billion, represents coatings sales, with the remainder being related products, including wallcoverings, floor coverings and application supplies.
In 2014, the company’s Paint Stores Group added 95 new stores, for a total of 4,003 stores in the United States, Canada and the Caribbean. During the year, the company closed 12 of its acquired Comex stores, leaving a total of 294 in operation. Approximately 100 of these locations have been fully converted to Sherwin-Williams stores, with a goal of converting the majority of the remaining locations in 2015.
The company 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: 2014 Annual Report, company website, press releases
Notes: In September of 2013, Sherwin-Williams completed its deal to acquire 306 company-owned paint stores in the United States and Canada from Consorcio Comex. In 2014, the company worked to integrate these businesses, stabilizing sales volumes and improving product assortment and product availability. In August 2014, the company unveiled an organizational realignment that placed its Paint Stores Group and Latin America Coatings Group under a unified management team. In December, the company announced its first-ever architectural paint program in Lowe’s stores under the HGTV Home®by Sherwin-Williams label.
4. RPM International Inc.
Medina, OH
330/273.5090
Chairman/CEO: Frank C. Sullivan
Coatings Sales: $4.4 billion for fiscal year ended May 31, 2014
RPM owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services serving both industrial and consumer markets. Industrial products include corrosion-control coatings, flooring coatings and specialty chemicals. Industrial companies include Stonhard, Tremco, illbruck, Carboline, Flowcrete, Day-Glo, Dryvit and Euclid Chemical. RPM’s consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement and by hobbyists. Consumer brands include Rust-Oleum, DAP, Zinsser, Varathane and Testors.
Subsidiaries: A/D Fire, Alteco Technik, API, Ascoat Contracting, Betumat, Carboline, Chemtec Chemicals, Citadel Restoration and Repair, Dane Color, DAP, DAP Canada, Day-Glo, Dryvit, Ecoloc, Euclid Chemical, Eucomex, Expanko, FEMA, Fibergrate, Fibregrid, Flowcrete, Grupo P&V, HiChem, Hummervoll, Increte Systems, Kirker, Kop-Coat, Krud Kutter, Legend Brands, Mantrose-Haeuser, Martin Mathys, Modern Masters, New Parks, Paramount Technical, Productos Cave, Productos de DAP, Radiant Color, Republic Powdered Metals, RPM/Belgium, RPM Wood Finishes Group, Rust-Oleum, Rust-Oleum Argentina, Rust-Oleum Canada, Rust-Oleum Japan, Rust-Oleum Netherlands, Spraymate, Stonhard, Synta, TCI, Testor, Tor Coatings, Toxement, Tremco Barrier Solutions, tremco illbruck, Tremco Inc., Universal Sealants, ValvTect, Vandex, Viapol, Watco, Weatherproofing Technologies, Wolman and Zinsser.
Parent Company: RPM International Inc.
Source: Company contact, 2014 Annual Report, press releases
Notes: Recent transactions include the acquisitions of Betumat, a Brazilian waterproofing products manufacturer, in June 2014; Krud Kutter, a producer of cleaners and removers, in July 2014; and Spraymate, South Africa’s leading spray paint manufacturer, in March 2015. RPM increased its cash dividend for the 41st consecutive year on October 9, 2014.
5. Axalta Coating Systems
Philadelphia, PA
215/255.4357
Chairman/CEO: Charles W. Shaver
Coatings Sales: $4.36 billion
Axalta Coating Systems is a leading global supplier of coatings serving four main sectors.
Offerings for light vehicle OEMs include Axalta’s Harmonized Coating Technologies™ including its Eco-Concept, 3-Wet and 2-Wet Monocoat coating systems and the latest coating formulations such as the company’s new Vermeera™ high-chroma technology.
With Imron®and other brands, Axalta serves commercial vehicle manufacturers of heavy duty trucks, buses, rail cars, and agricultural, construction and earthmoving equipment (ACE), among others.
For refinish customers, the company’s premium flagship global brands include Cromax®, Spies Hecker® and Standox®, as well as mainstream products such as Challenger, Nason and Duxone, which are sold in a number of countries.
Axalta serves a wide variety of industrial customers with a number of brands including AquaEC™ anodic and cathodic electrocoat products, Alesta®and Abcite®powder coatings for architectural and other applications, Nap-Gard®powder coatings for oil and gas pipelines, and Voltatex® electrical insulation coatings.
On five continents, Axalta operates 35 manufacturing centers, seven major R&D facilities and 45 refinish training centers.
Notes: In 2014, Axalta Coating Systems became a public company (NYSE: AXTA) with an IPO on November 12, 2014. Also in 2014, the company began construction to expand production capacity in Germany, China and Mexico, and continued its expansion program in Brazil. Axalta launched Voltatex 1262 C6 formaldehyde-free electrical steel varnish in 2014, which is targeted for use in special applications for large hydro and turbo generators with no formaldehyde degassing, and also launched Alesta ZeroZinc next-generation zinc-free anticorrosion powder primers. The company introduced AquaEC™ as the new brand name for all of Axalta’s established electrocoat products, and made Abcite thermoplastic powder coatings available globally. Another product launched in 2014 was Voltatex 1250V C5 electrical steel varnish for use in multiple applications including electric motors, small and medium power tool generators, traction motors and electric vehicles. In 2014, the company made the Alesta Global Color Collection of powder coatings available globally. Additionally, Alesta AntiGraffiti Outdoor became the first powder coating product to receive GSB International and Qualicoat approvals and to comply with the requirements of the German anti-graffiti quality association Gütegemeinschaft Anti-Graffiti e.V. Axalta expanded manufacturing capacity for powder products at two locations in China in 2014. The company also published its first sustainability report (www.axaltacs.com/sustainability). In 2014, Axalta partnered with Kinlita Chemical to provide coatings for Foton-Daimler production of Auman trucks in China and launched Cromax Pro in India. Since 2013, the company has launched 30 paint lines for light vehicle OEM customers.
Source: Axalta Coating Systems
6. The Valspar Corp.
Minneapolis
612/851.7000
CEO/Chairman: Gary E. Hendrickson
Coatings Sales: $4.3 billion
Valspar experienced a total sales increase of approximately 10.2 percent in 2014 to $4.5 billion. The company operates its coatings-related businesses in two reportable segments: Paints and Coatings. Sales in the Coatings segment increased 13.7 percent in 2014 to $2.5 billion. Sales in the Paints segment increased 6.9 percent in 2014 to $1.8 billion, for total coatings sales of $4.3 billion. Valspar’s Paints segment includes consumer paint products in North America, Australia and New Zealand, China, and Europe, as well as auto refinish. Global brands in the Paints segment include Valspar, Huarun, Wattyl, Solver, Cabot, PlastiKote, Guardsman and Devine Color. Auto refinish brands include De Beer and House of Kolor (consumer paints) and Valspar, De Beer, House of Kolor and Octoral (auto refinish). The Coatings segment includes four product lines: packaging, general industrial, coil and wood coatings. Analyzed by region, North American accounted for 49 percent of sales for 2014, followed by Asia-Pacific (17 percent), EMEAI (25 percent) and Latin America (9 percent).
Source: 2014 Annual Report, company website
Notes: In North America, the company launched a new super premium paint, Valspar Reserve®, which won an innovation award from Lowe’s. Also in 2014, the company expanded consumer access to Valspar paints in North American through its partnership with Ace Hardware, which included 3,250 Ace stores being reset with the Valspar paint studio. In the United Kingdom, the company launched Valspar paints in 350 B&Q plc home improvement stores. In Australia and New Zealand, the company launched the Valspar brand of paint and grew market share in its paint stores business and in home improvement and independent hardware channels.
In May of this year, Valspar announced a definitive agreement to acquire the performance coatings businesses of Quest Specialty Chemicals Inc., which includes automotive refinish and industrial coatings. In April, the company completed a $45 million manufacturing center in Tianjin, China. The investment increases the company’s waterborne coatings capabilities in the region. In November 2014, the company announced the completion of the purchase of Madison Chemical Industries Inc., a coatings manufacturer headquartered in Ontario, Canada, that has a global reputation for its technically advanced products used for critical infrastructures such as water transmission pipelines, water and wastewater management, and potable water storage.
7. BASF Coatings
Münster, Germany (global headquarters)
+49.2501.14. 3453 (press contact)
Southfield, MI (North American headquarters)
248/304.5413
CEO/President: Markus Kamieth
Coatings Sales: Approx. $3.63 billion (Approx. €3 billion)
BASF Coatings is a division of BASF SE. BASF’s Coatings division develops, produces and markets automotive coatings, automotive refinishes and industrial coatings as well as decorative paints. The company operates sites in Europe, North America and South America as well as Asia-Pacific. Within this network, it collaborates closely with customers all over the world. In 2014, the Coatings division achieved global sales of €3 billion.
Parent Company: BASF SE
Source: Company contact, press releases, company website
Notes: In February 2014, BASF announced that it is expanding its business in industrial coatings in the growth market of Africa, supplying coil coatings to Roofings Rolling Mills (RRM), located in Uganda. The African market plays a key role in the future growth plans of the Industrial Coatings Solutions unit of BASF. In November 2013, BASF inaugurated its state-of-the-art training facility for automotive refinishing in Midrand, Johannesburg, South Africa. The new Refinish Competence Center (RCC) is the first facility of its kind to be established in the country by the company and expands BASF’s global network of Refinish Competence Centers.
In July 2014, BASF inaugurated its new automotive coatings plant at the Shanghai Chemical Industry Park in Shanghai, China. The expansion of its automotive coatings production capacity with an investment of around €50 million further strengthens BASF’s presence in China and its position as a leading coatings supplier to the automotive industry. In December 2014, BASF’s Coatings division announced it is the sole supplier of automotive coatings for the new plant of the Chinese automaker Chery in Jacarei, Brazil, which started operations in August 2014. BASF invested €2.5 million in its Demarchi Coatings site, located in the state of São Paulo, Brazil, to expand its capacity to service Brazil’s automotive industry with waterborne automotive coatings.
In 2014, BASF and BMW once again teamed up, this time for the i3, the BMW Group’s first model driven purely by electric power. BASF is supplying basecoats in four colors for the new i3 production line at the BMW plant in Leipzig, Germany.
8. Kansai Paint Co. Ltd.
Osaka, Japan
+81.6.6203 5531
President: Hiroshi Ishino
Coatings Sales: Approx. $3.11 billion for fiscal year ended March 31, 2014
Founded in 1918, Kansai Paint Co. Ltd. is the largest coatings manufacturer in Japan and Africa, with leading market positions in India, China and Southeast Asia. It also has operations in Europe, the Americas and the Middle East. Core business areas include automotive coatings, industrial coatings, decorative coatings, and marine and protective coatings. In the company’s 2014 annual report, it recorded an increase in net sales of approximately 9 percent compared to the previous year. Product sales in the Automotive Coatings business area accounted for 38 percent of sales. The Industrial Coatings business area accounted for 26 percent of sales, the Decorative Coatings business area accounted for 26 percent of sales, and the Marine and Protective Coatings business area accounted for 6 percent of sales.
Source: Annual Report, press release
9. Nippon Paint Holdings Co.
Osaka, Japan
+81.6.64581111
www.nipponpaint-holdings.com/en/
President: Tetsushi Tadou
Coatings Sales: $3.03 billion
Since its inception in 1881, Nippon Paint has experienced over 125 years of growth through innovation, and has become one of the world’s major automotive paint suppliers and the largest supplier of decorative paints. Nippon Paint produces coatings for the automotive market, the marine coatings market, as well as industrial products. It also makes paints for residential and commercial buildings and for the do-it-yourself market. Nippon Paint’s manufacturing operations are located principally in Asia, but the company also has facilities in North America and Europe. In the United States, it has two subsidiaries that manufacture and sell paints: NB Coatings (liquid automotive coatings for plastic) and NPA Coatings (automotive body coatings and powder coatings).
Source: Company contact
10. Asian Paints Limited
Mumbai, India
91.22.39818990
Managing Director/CEO: K.B.S. Anand
Coatings Sales: $2.28 billion for sales ended March 31, 2015
Founded in 1942, Asian Paints is India’s largest paint company and ranked among the top decorative coatings companies in the world. The company and its subsidiaries have operations in 17 countries across the world with 23 paint manufacturing facilities serving consumers in 65 countries. Subsidiaries include Berger International, SCIB Paints – Egypt, Asian Paints, Apco Coatings and Taubmans.
Source: 2014-15 Annual Report, company website
Notes: In April 2014, Asian Paints (International) Limited, Mauritius, (APIL) a wholly owned subsidiary of Asian Paints Ltd., signed an agreement to acquire 51 percent of the equity share capital of Kadisco Chemical Industry PLC, Ethiopia, a manufacturer of coatings and adhesives in Ethiopia.
The PCI 25
Following is a ranking of the top 25 North American coatings manufacturers in 2014.
1. PPG Industries Inc.
Pittsburgh
Coatings Sales (Net): Approx. $14.3 billion
2. Sherwin-Williams Co.
Cleveland
Coatings Sales: Approx. $8.35 billion
3. RPM International Inc.
Medina, OH
Coatings Sales: $4.4 billion for fiscal year ended May 31, 2014
4. Axalta Coating Systems
Philadelphia
Coatings Sales: $4.36 billion
5. The Valspar Corp.
Minneapolis
Coatings Sales: $4.3 billion
6. Behr Process Corp.
Santa Ana, CA
714/545.7101
CEO/President: Jeff Filley
Coatings Sales: Approx. $2 billion
Behr Process Corp. is part of Masco’s Decorative Architectural Products segment, which produces architectural coatings including paints, primers, specialty paint products, stains and waterproofing products. Products are sold under the BEHR® and KILZ® brands in the United States, Canada, China, Mexico and South America. They are sold to DIY and professional customers through paint stores, home centers and other retailers. In 2014, sales from that segment represented $2 billion, 23 percent of total net sales for the company. Behr is a leader in the DIY market, partnering with the The Home Depot to sell paints, decorative finishes, primers, stains and surface preparation products exclusively at The Home Depot. During 2013, Behr Process Corp. finished rolling out its products to Home Depot stores across Mexico.
Parent Company: Masco Corp.
Source: Masco Corp. SEC filing
Notes: In November, BEHR MARQUEE®Interior Paint & Primer won top honors in the 2014 Innovation Award selected by The Home Depot®. The award recognizes the newly launched BEHR MARQUEE Interior Paint & Primer with an exclusive one-coat color collection. The Home Depot’s annual Innovation Awards recognize the most revolutionary new products that provide true benefits to consumers and companies that exceeded expectations in sales, service and program execution.
7. Benjamin Moore & Co.
Montvale, NJ
201/573.9600
CEO: Michael Searles
Coatings Sales: Approx. $656.7 million (as reported by Hoover’s Inc.)
One of North America’s leading manufacturers of premium-quality residential, commercial and industrial maintenance coatings, Benjamin Moore is committed to sustainable manufacturing practices and continues to develop the most eco-responsible formulations possible.
Parent Company: Berkshire Hathaway
Source: Company website, Hoover’s Inc.
Notes: Benjamin Moore ranked the top solid stain in the June 2014 Consumer Reports tests of house and deck stains with its ARBORCOAT Premium Exterior Stain. In March of this year, Benjamin Moore & Co. opened a new distribution center in Oakland, CA, to support demand of its growing West Coast business. The Silver LEED Certified Logistics Center will support distribution of an expanded line of Benjamin Moore & Co. products and serve as the key hub for the company’s growing network of Asia-Pacific retailers and distributors.
8. Ennis-Flint
Thomasville, NC
336/475.6600
CEO: R. Steven Vetter
Coatings Sales: Approx. $550 million
Ennis-Flint is a premier manufacturer of pavement markings and traffic safety products. Ennis Paint merged with Flint Trading in March 2012 to form Ennis-Flint. Ennis Flint has 18 manufacturing facilities on four continents as well as numerous sales offices around the world.
Source: Company contact
9. Cloverdale Paint Inc.
Surrey B.C., Canada
604/569.6261
CEO: C.A. (Al) Mordy
Rodda Paint Co.
Portland, OR
800/242.3713
COO: Bill Boone
Coatings Sales: $290 million (combined)
Cloverdale Paint Inc. and its subsidiaries, Rodda Paint Co., Fargo Paint & Chemicals Inc., Guertin Coatings, Sealants & Polymers Ltd., and Serif Coatings & Chemical, operate through 121 corporate-owned locations covering western Canada as well as Washington, Oregon, Idaho, Montana and Alaska. The companies manufacture architectural paint, and industrial and marine coatings along with certain powder coatings, specialty resins and sealant products. Combined markets include sales to a wide variety of professional, commercial, residential, industrial, marine, private-label and DIY customers as well as a network supporting Cloverdale Paint and Rodda Paint independent dealers throughout the Pacific Northwest region.
Source: Company contact, company website
Notes: In 2014 Rodda Paint Co. entered an alliance with Kelly-Moore in which Rodda agreed to acquire five Kelly-Moore company-owned stores, four located in Idaho and one on the Oregon border.
10. Dunn-Edwards Corporation
Los Angeles, CA
888/337.2468
President/CEO: Karl Altergott
Coatings Sales: Approx. $283.5 million (as reported by Hoover’s Inc.)
Dunn-Edwards Operates 117 stores in five western states: California, Arizona, New Mexico, Nevada and Texas. It is a manufacturer and supplier of architectural and industrial coatings, providing a complete line of paints and professional painting supplies.
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, press releases, Hoover’s Inc.
Notes: Dunn-Edwards Paints® enhanced its designer-preferred Perfect Palette® color system with the Then, Now & Forever™ collection of 300 new colors to offer designers, architects and consumers the most complete, well-researched palette for any project. 142 colors were inspired by architecture of the American West and are historically accurate as verified by Architectural Resources Group, an architecture firm focused on historical preservation and renovation. And 158 colors are trending today and offer a greater range of grays and browns, as well as blues and oranges.
11. Kelly-Moore Paint Co., Inc.
San Carlos, CA
800/874.4436
President/CEO: Steve DeVoe
Coatings Sales: Approx. $270 million
Kelly-Moore is one of the largest employee-owned paint companies in the United States. The company is known in the industry as the “Painter’s Paint Store” for its high-quality products, fair prices and customer service. Kelly-Moore operates over 145 company-owned stores in Arkansas, California, Idaho, Nevada, Oklahoma and Texas.
Source: Company contact, press releases, company website
Notes: In June 2014, the company continued its retail expansion with the opening of a 5,400-square-foot store in Petaluma, CA, located at 905 Lakeville Street. It is Kelly-Moore’s 105th retail store in northern California. Also in 2014, Kelly-Moore Paints and the Rodda Paint Co. announced an agreement under which Rodda Paint Co. acquired five Kelly-Moore company-owned stores, four located in Idaho and one on the Oregon border.
12. Quest Specialty Chemicals, Inc.
Charleston, SC
800/966.7580
President/CEO: Doug Mattscheck
Coatings Sales: $260 million+
Quest Specialty Chemicals is funded through private equity by the Audax Group, located in Boston, MA, and Moelis Capital Partners, located in New York. The company acquires and builds specialty chemical companies in the coatings arena. It is organized into three operating divisions focusing on automotive refinish, industrial and construction coatings. The key product brands include: Matrix System automotive finishes, Raabe paints and coatings, Patriot Industrial and Zolatone Automotive, Industrial and Marine Coatings, United Coatings and HydroStop roofing systems, Streetbond asphalt repair coatings, Prospray automotive refinishes, and US Chemical body fillers, putties and accessory products.
Quest Construction Products offers a line of protective coatings for a wide range of architectural, industrial and roofing applications. Quest Automotive Products is an independent manufacturer and distributor of aftermarket automotive refinish paint products, marketing paints, primers, clearcoats, hardeners and solvents. In addition to automotive refinish paints, it also produces fillers, putties and accessory products. Quest Industrial Products manufactures custom-matched branded touchup paint and provides private-label aerosol and liquid paint filling services, as well as specialty industrial coatings.
Source: Company contact, company website
Notes: In June of this year, Quest Specialty Chemicals announced it had completed the sale of the Quest Automotive Products and Quest Industrial Products businesses to The Valspar Corp. The two divisions account for approximately $190 million in sales of specialty coatings in the automotive, transportation and industrial markets.
13. Nippon Paint (USA)
Coatings Sales: $240 million (combined)
NB Coatings Inc.
Lansing, IL
708/474.7000
CEO: Kristina Nelson
A subsidiary of Nippon Paint Co., NB Coatings is a leading supplier of liquid coatings for plastic automotive parts in North America. It provides a complete line of custom OEM coatings for automotive fascia, exterior trim, interior trim and lens applications.
It supplies all major OEMs, from domestic (GM, Ford, and Chrysler) to transplant (Honda, Toyota, Nissan and Hyundai), as well as their tiers.
NPA Coatings Inc.
Cleveland
216/651.5900
CEO: Masato Kurokowa
NPA Coatings manufactures and sells automotive body coatings and pretreatment chemicals. NPAC mainly serves the automotive and general industrial markets.
Source: Company contact
14. Vogel Paint, Inc.
Orange City, IA
712/737.8880
President/CEO: Drew F. Vogel
Coatings Sales: $165 million
Vogel Paint was established in 1926 as a manufacturer of barn paints and creamery maintenance enamels. It entered the liquid industrial coatings market in the 1950s, and in the 1970s began to build a fleet of company stores selling architectural paints and heavy-duty maintenance coatings. The company formed the Peridium powder coatings division in 1998 and built a new powder coatings production facility in 2003.
Today, the company operates over 65 company stores and seven manufacturing plants and distribution centers in 13 states. It markets under the principal brand names of Diamond Vogel Paints, Old Masters Decorative Wood Finishes, Vogel Industrial Coatings, Peridium Powder Coatings, Axis Automotive Coatings and Van Sickle Paints.
Source: Company contact
Notes: The company completed an addition to its Peridium Powder Coatings plant in mid-2013. It also acquired expanded facilities for its Fasse Paint Division in Wisconsin.
15. Yenkin-Majestic Paint Corp.
Columbus, OH
614/253.8511
President: Jonathan M. Petuchowski
COO: Andrew O. Smith
Coatings Sales: $145 million
Yenkin-Majestic is a vertically integrated manufacturer of coatings and resins. Its full line of architectural paints includes interior and exterior products and a variety of specialties, including a complete farm program, low-VOC oil-based floor paints and a unique acrylic enamel line (Diamond Hard). Its industrial division manufactures waterborne and solventborne products, including urethanes, epoxies and polyesters. Its OPC Polymers operations serve the United States, Canada and other markets, with expansion by the acquisition of SI Group-Canada Ltd. and the addition of new co-polymers. Product categories include alkyds, oil-modified urethanes, monomer-modified combinations, high solids, water reducibles, alkyd dispersions and emulsions, epoxy esters, and VOC-compliant vehicles.
Source: Company contact
16. Tnemec Co., Inc.
Kansas City, MO
800/863.6321
CEO/President: Peter Cortelyou
Coating Sales: $124 million
Tnemec Co. manufactures more than 100 architectural and industrial coatings, from premium epoxies and polyurethanes to specialized fluoropolymer products, formulated specifically for extreme durability, enduring performance and enhanced aesthetics. Tnemec is a leading supplier of high-performance coatings for water tanks, treatment plants and industrial facilities. Tnemec’s StrataShield brand consists of resinous floor and wall coatings. The company’s Chemprobe division offers water-repellant and stain products for concrete, masonry and wood.
Source: Company contact
17. California Products Corp.
Andover, MA
978/623.9980
Chairman/CEO: Peter Longo
COO/CFO: Steven McMenamin
Coatings Sales: $117 million
California Paints manufactures coatings for architectural consumers and contractors under the brand names California Paints, Storm System, Progress Professional, FixAll, GraySeal, Muralo, Graham, Spackle, and California Performance Coatings. California Products Corp. produces interior and exterior architectural paints, and light industrial and recreational surface coatings.
Source: Company contact, website
Notes: California Products Corp. has made several recent acquisitions. In 2014, it acquired the assets of the Muralo Co. and associated brands. The corporation also acquired the assets of Premier Sports Finishes. In 2013, California Products Corp. acquired the assets of Rebound Ace, adding to it already prominent position in recreational surfaces and coatings. In 2012, the company launched Storm System, a new division of exterior stains and finishes.
18. ELANTAS PDG Inc.
St. Louis, MO
314/621.5700
CEO/President: Susan W. Graham
Coatings Sales: $100 million
ELANTAS PDG Inc. is a supplier of specialty polymers for the electrical and electronic industries. The key products of ELANTAS PDG include magnet wire enamel, insulating varnishes, encapsulating resins, potting compounds, adhesives and conformal coatings.
Parent Company: ALTANA, AG, of Germany
Source: Company website, press releases, company contact
19. Vista Paints
Fullerton, CA
714/680.3800
CEO/President: Eddie Fischer
Coatings Sales: $90-110 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 company-owned stores throughout California and Nevada. 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
20. Hentzen Coatings Inc.
Milwaukee, WI
414/353.4200
CEO/President: Albert Hentzen
Coatings Sales: $90-$100 million
Hentzen Coatings, founded in 1923, is a developer of advanced-technology coatings for the industrial OEM, aerospace and military markets. The company markets a wide range of industrial coatings, including waterborne, solvent-reducible and powder coatings.
Source: Company contact
Notes: In October 2013, the company announced the founding of Hentzen de Mexico, based in Queretaro, Mexico. Hentzen will distribute liquid and powder coatings for the industrial coatings market from its new warehouse in Mexico.
21. True Value Company
Chicago
773/695.5000
President/CEO: John R. Hartmann
Coatings Sales: Approx. $80 million
True Value Co. manufactures exclusive paint brands for its retail identities and third-party accounts. Paint is manufactured under the EasyCare and Weatherall brands in Cary, IL, and distributed nationally to its core hardware stores.
True Value Co., headquartered in Chicago, is one of the world’s largest retailer-owned hardware cooperatives with gross billings of $1.9 billion and revenue of $1.4 billion in 2012. The True Value cooperative includes approximately 4,500 independent retailer locations worldwide operating under the store identities of True Value, Grand Rental Station, Taylor Rental, Party Central, Home & Garden Showplace and Induserve Supply.
Source: True Value Corporate Communications Department
22. Gemini Industries
El Reno, OK
405/262.5710
CEO/President: David Warren
Coatings Sales: $60 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 cabinet makers, furniture finishers and refinishes represents 50 percent 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 that provide nationwide service.
Parent Company: Gemini Industries
Source: Company contact
Notes: In January of this year, Gemini Coatings Inc., a division of Gemini Industries Inc., announced the acquisition of the assets of Georgia-based Gulf Synthetics. The transaction consisted of the technology and brand names of the Deck Revive, Concrete Revive, Dock Revive, Perma Fill and Perma Bond brands.
23. TIGER Drylac U.S.A. Inc.
St. Charles, IL
800/243.8148
CEO: Larry McNeely
Coatings Sales: $59.7 million
TIGER Drylac’s U.S. operations were established in 1984. Today, the company ships from six strategic distribution centers and employs 239 people. The company’s North American production network includes two facilities in the United States, located in California and Illinois.
Source: Company contact
24. Suncoatings Inc.
Tampa, FL
813/367.4444
President: Michael Hyer
Coatings Sales: $41 million
Suncoatings is a family owned company that has produced an array of architectural and light industrial coatings since 1971. Headquartered in Tampa, FL, the company’s products are distributed nationally and globally through private-label partners, a vast network of dealers, and direct to contractors and the public through its sister company’s own chain of retail stores, Sun Paints and Coatings.
Suncoatings operates three plants nationally, and prides itself on being on the forefront of coatings technology by investing heavily in R&D. Sun’s architectural products range from floor to roof coatings, and everything in between.
Source: Company contact, company website
25. Farrell-Calhoun Inc.
Memphis, TN
90l/526.2211
President: John A. Ward Jr.
VP Sales/Marketing: Anthony Ward
Coatings Sales: $37.1 million
Farrell-Calhoun manufactures architectural and industrial-maintenance coatings. The company has distribution throughout the Mid-South and Southeast through 37 company-owned stores and a network of 100 dealers.
Source: Company contact
Honorable Mention
FORTECH Products Inc.
Brighton, MI
248/446.9500
President: Creighton E. Forester
Coating Sales: $12 million
Founded by Creighton E. Forester in 1994, FORTECH Products Inc. is a developer and manufacturer of various OEM-approved high-heat, corrosion-resistant, chip-resistant water-based coatings for the automotive, agricultural, recreational-vehicle and allied industries. The company has grown through acquisitions and new-product development. Coating products include TechKote WA 2935 and TechKote WA 2951 (first, second and third generation), water-based, high-heat, corrosion-resistant coating; WA 2975 water-based chip-resistant coating; and TechKote WE 2000, a water-based, heat-resistant protective epoxy coating.
The company has been awarded a three-year, 980,000-piece underbody part program using its TechKote WA 2975 blackout/chip-resistant series coatings. This is one of four programs TechKote WA 2975 series coatings have been awarded by the Big Three automotive manufacturers. The TechKote WA 2975 series features water-based, lightweight, easily applicable chip-resistant coatings for automotive wheel wells and underbody components. The TechKote WA 2975 series is currently being manufactured at Fortech Products’ Brighton facility, but will also be manufactured in its Mexico operation by the third quarter of 2016.
Source: Company contact
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