This issue of PCI features the 18th annual listing of the top coatings manufacturers in the world. Following is a ranking of the Top 10 global leaders and a listing of the Top 25 North American companies. Coatings sales listed for each company include worldwide 2009 global coatings sales figures.
This has been a challenging year for the coatings industry due to the global economic crisis. The industry has been impacted by the worldwide decline in manufacturing, the housing crisis in the United States and the challenges facing the automotive industry. These factors resulted in virtually across-the-board declines in sales. Of the Top 10 global leaders, every company posted lower sales for 2009 compared to 2008. Additionally, the majority of the PCI 25 posted lower or flat sales for 2009. While the numbers are down for 2009, there is optimism for 2010, and the industry seems to be moving forward in a positive direction, with many companies posting more positive numbers for the first quarter of 2010.
This year, some of the North American companies did not want to supply sales figures for 2009, which made ranking them impossible. Rather than omit them, it was decided to list the top 25 North American companies alphabetically instead of ranking companies according to sales numbers. For the most part, the list remains the same as our listing in 2009. The exception is BASF’s U.S. division, which requested to be removed from the PCI 25 and only be included as a global entity in our Top 10 global ranking.
While the PCI staff made every effort to seek out the top companies in the industry, we may have inadvertently omitted some. Please contact Karen Parker at parkerpcimag@gmail.com if you have interest in being included next year.
Global Top 10
1. Akzo Nobel nv
Amsterdam, The Netherlands
+31-20-502-7833
www.akzonobel.com
Chairman of the Board of Management: Hans Wijers
2009 Coatings Sales: $ 12.5 billion (€8.7 billion)
AkzoNobel is one of the world’s leading industrial companies. Based in Amsterdam, the Netherlands, the company makes and supplies a wide range of paints, coatings and specialty chemicals. 2009 revenue totaled $19.9 billion (€13.9 billion). The company is the largest paint and coatings producer in the world. As a major producer of specialty chemicals, AkzoNobel supplies industries worldwide with quality ingredients for life’s essentials. The company has 57,000 employees based in more than 80 countries. AkzoNobel coatings brands include global and household names such as International®, Sikkens®, Glidden®, Dulux®, Crown®, Interpon®, Levis®, Coral® and Sadolin®.
Parent company: AkzoNobel, Amsterdam, The Netherlands.
Source: AkzoNobel Report 2009, press releases, company contact.
Recent Acquisitions and Divestments: In Decorative Paints, AkzoNobel acquired two distributors in Continental Europe. In Performance Coatings, the company divested Chemcraft Brazil and the non-stick businesses. The company also completed the acquisitions of SABA and Kronospan and announced the acquisition of the Dow Powder Coatings assets. This business has global revenue of several hundred million dollars and employs around 700 employees. It will further strengthen the company’s Powder Coatings business in Europe and North America and will bring key technological know-how and significant synergy potential. The transaction is expected to close during the second quarter of 2010.
Notes: In January 2009, AkzoNobel’s Car Refinishes business was announced as the official supplier of paint solutions to the Vodafone McLaren Mercedes Formula 1 team. In December 2009, AkzoNobel announced, in partnership with The Home Depot in North America, the development of a new range of high-quality paints for the Martha Stewart Living Brand.
2. PPG Industries Inc.
Pittsburgh
412/434.3131
www.ppg.com
Chairman/CEO: Charles E. Bunch
Coatings Sales: Approx. $9.2 billion
PPG’s global coatings businesses comprise coatings for auto OEM, auto refinish, industrial, architectural, aerospace, packaging, and protective and marine applications. PPG serves customers in industrial, transportation, consumer products, and construction markets and aftermarkets. It is the technology leader in coatings for the wood-flooring industry and a leader in the supply of paints for consumer electronics. PPG is the largest producer worldwide of transportation OEM and refinish coatings. Notably, the Asia/Pacific region posted record earnings for PPG in 2009 and now represents about 18 percent of PPG's coatings portfolio. Coatings represented about 75 percent of 2009 corporate sales of $12.2 billion.
Source: 2009 Annual Report, company Web site, company contact
Recent Acquisitions and Divestments: While there were no notable acquisitions or divestitures by PPG in 2009, the company weathered challenging economic conditions by undertaking several restructuring initiatives and emphasizing operating discipline and cost control to reshape its business and better align with fundamental changes in the marketplace. Initiatives included closing several manufacturing and distribution facilities and eliminating approximately 3,800 positions. The company also accelerated some integration activities identified upon the 2008 acquisition of SigmaKalon.
3. Sherwin-Williams Co.
Cleveland
216/566.2000
www.sherwin.com
Chairman & CEO: Christopher M. Connor
Coatings Sales: Approx. $5.31 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 three operating segments: Paint Stores Group, Consumer Group and Global Group. Consolidated net sales in 2009 decreased slightly by $886 million, or 11 percent, to $7.094 billion (2008: $7.980 billion) in the year, due primarily the weak U.S. housing market and worsening U.S. economic conditions. It is estimated that between 70 to 75 percent of sales, or about $5.31 billion, represents coatings sales, with the remainder being related products, including wallcoverings, floor coverings and application supplies. Sherwin-Williams has company-operated stores in all 50 states, Canada and some countries in Latin America. In 2009, the company opened 53 stores in new markets and consolidated an additional 45 redundant store locations, for a net increase of eight new stores for the year. The company’s store count in the United States, Canada and the Caribbean now stands at 3,354. 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: 2009 Annual Report, company Web site, press releases
Notes: In March of 2010, the company announced it had closed an agreement to acquire the Industrial Wood Coatings business of Arch Chemicals, Inc. Headquartered in Pianoro, Italy, Arch Industrial Wood Coatings trades under the Sayerlack brand name and is a leading coatings innovator in the joinery, furniture, and cabinets markets. In May of 2010, the company signed an agreement to acquire Becker Acroma Industrial Wood Coatings, a subsidiary of AB Wilh. Headquartered in Stockholm, Sweden, Becker Acroma is one of the largest manufacturers of industrial wood coatings globally and a technology leader in water, UV and other wood coatings.
4. DuPont Performance Coatings
Wilmington, DE
302/774.1000
www.dupont.com
Chairman/CEO: Ellen J. Kullman
President: Terry Caloghiris
Coatings Sales: $3.5 billion
DuPont Performance Coatings includes its core markets of automotive, collision repair, and industrial coatings. The company offers high-performance liquid and powder coatings as well as high-performance specialty products. In 2009, global sales were 13 percent of 2009 corporate sales of $26.1 billion. Sales of $3.4 billion were down 21 percent when compared to prior year. The price reflects a 20 percent decline in volume, due in large part to the global economic recession in the automotive industry.
Parent Company: DuPont
Source: Dupont 2009 Annual Report, company Web site, company contact
Notes: Dupont Performance Coatings closed an OEM Coatings manufacturing facility in Lemans, France, an OEM Powder Coatings plant in Landshut, Germany, and a coatings lab in the United States. In addition, a plant was opened in Savli, India, serving the refinish markets, and industrial automotive plastic coatings.
5. BASF Coatings
Münster, Germany
+0049 25 01 140
www.basf-coatings.com
CEO/President: Raimar Jahn
Coatings Sales: $3.2 billion (€2.2 billion)
BASF Coatings, the Coatings division of the BASF Group, develops, produces and markets a high-quality range of innovative automotive OEM coatings, automotive refinishes and industrial coatings as well as decorative paints. BASF has significant market positions in the Coatings sector in Europe, North America, South America and the Asia-Pacific region. BASF Coatings is among the top three global leaders of automotive OEM coatings.
Parent Company: BASF SE
Source: Company contact
Notes: In 2009, BASF Coatings expanded its water-based coatings in Würzburg, Germany. Also in 2009, BASF Coatings opened the Refinish Competence Center (training center for spray painters) at its Münster, Germany, site. Additionally, BASF has expanded its coatings business in ASEAN, with Thailand at the center, to serve the large coatings market in the region for motorcycles, industrial coatings and the automotive industry.
6. The Valspar Corp.
Minneapolis
612/851.7000
www.valspar.com
Chairman of the Board/CEO: William L. Mansfield
Coatings Sales: $2.655 billion
Valspar experienced a total sales decline of 17 percent in 2009. The company operates its coatings-related businesses in two reportable segments: Paints and Coatings. Sales in the Paints segment decreased 4.9 percent (2009 revenue of $1,072.4 million) and 22.9 percent in the Coatings segment (2009 revenue of $1,582.8 million), for total coatings sales of $2,655 million. Despite the volume declines, the company reduced its cost structure, allowing it to remain profitable in all product lines. International sales accounted for approximately 38 percent of consolidated net sales.
Source: 2009 Annual Report, company Web site
7. Kansai Paint Co., Ltd.
Osaka, Japan
+81.6.6203 5531
www.kansai.co.jp
President: Shoju Kobayashi
Coatings Sales: $2.319 billion for fiscal year ended March 31, 2009
Kansai Paint Co., Ltd. is a manufacturer of paint and coatings used in Japan, Europe and the Americas, as well as China, India and other Asian countries. Core business areas include Automotive Coatings, Industrial Coatings, Decorative Coatings, and Marine and Protective Coatings.
Source: Company Annual Report
8. RPM International Inc.
Medina, OH
330/273.5090
www.rpminc.com
Chairman/CEO/President: Frank C. Sullivan
Coatings Sales: $2.22 billion for fiscal year ended May 31, 2009
RPM is a holding company with subsidiaries that are 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. Major industrial brands are Stonhard, Tremco, illbruck, Carboline, Day-Glo and Dryvit. RPM's consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement, boat repair and maintenance, and by hobbyists. Consumer brands include Zinsser, Rust-Oleum, DAP, Varathane and Testors.
Subsidiaries: A/D Fire, Agpro, Alteco Technik, Carboline, Chemical Coatings, Chemical Specialties, Compact Technology, DAP, Dane Color, Day-Glo, Dryvit, Ecoloc, Euclid Admixture, Euclid Chemical, Eucomex, Fibergrate, Flowcrete, Guardian Protection, Increte Systems, Kop-Coat, Mantrose-Haeuser, Martin Mathys, Modern Masters, New Parks, Nullifire, Paramount Technical, Productos Cave, Radiant Color, Republic Powdered Metals, RPM/Belgium, RPM Wood Finishes, Rust-Oleum, Star Maling, Stonhard, TCI, Testors, Tor Coatings, Toxement, Tremco, Universal Sealants, Vandex, Watco, Weatherproofing Technologies, Westfield Coatings, Wolman and Zinsser.
Parent Company: RPM International Inc.
Source: Company contact, 2009 Annual Report, press releases
Recent Acquisitions and Divestments: Recent transactions include Stonhard’s acquisition of $5 million Australia business Ascoat Pty Ltd in September 2009; Carboline taking a majority interest in its $8 million Indian joint venture, CDC Carboline India Pvt. Ltd., in October 2009; Rust-Oleum’s acquisition of $3.5 million UK-based FibreGrid Limited in December 2009; RPM’s acquisition of $55 million UK-headquartered Universal Sealants Limited in January 2010; and Rust-Oleum’s acquisition of $6 million Netherlands-based Chemtec Chemicals in March 2010.
9. Nippon Paint Co.
Osaka, Japan
+81.6.64581111
www.nipponpaint.co.jp
President: Kenji Sakai
Coatings Sales: $2.1 billion
Nippon Paint produces paints and 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. Jotun
Sandefjord, Norway
47.33.45.70.00
www.jotun.com
President and CEO: Morten Fon
Coatings Sales: $1.79 billion
The Jotun Group is a leading manufacturer of paints, coatings and powder coatings. It consists of four divisions: Jotun Dekorativ, responsible for Jotun’s decorative paints, stains and varnish deliveries in Scandinavia; Jotun Paints, responsible for decorative paints in markets outside Scandinavia; Jotun Coatings, a global segment responsible for marine protective coatings and decorative paints in local European and selected Asian markets; and Jotun Powder Coatings, responsible for powder coatings.
Source: 2009 Annual Report, company Web site
Notes: In November 2009, Jotun inaugurated a new paint factory in Yanbu, Saudi Arabia.
Amsterdam, The Netherlands
+31-20-502-7833
www.akzonobel.com
Chairman of the Board of Management: Hans Wijers
2009 Coatings Sales: $ 12.5 billion (€8.7 billion)
AkzoNobel is one of the world’s leading industrial companies. Based in Amsterdam, the Netherlands, the company makes and supplies a wide range of paints, coatings and specialty chemicals. 2009 revenue totaled $19.9 billion (€13.9 billion). The company is the largest paint and coatings producer in the world. As a major producer of specialty chemicals, AkzoNobel supplies industries worldwide with quality ingredients for life’s essentials. The company has 57,000 employees based in more than 80 countries. AkzoNobel coatings brands include global and household names such as International®, Sikkens®, Glidden®, Dulux®, Crown®, Interpon®, Levis®, Coral® and Sadolin®.
Parent company: AkzoNobel, Amsterdam, The Netherlands.
Source: AkzoNobel Report 2009, press releases, company contact.
Recent Acquisitions and Divestments: In Decorative Paints, AkzoNobel acquired two distributors in Continental Europe. In Performance Coatings, the company divested Chemcraft Brazil and the non-stick businesses. The company also completed the acquisitions of SABA and Kronospan and announced the acquisition of the Dow Powder Coatings assets. This business has global revenue of several hundred million dollars and employs around 700 employees. It will further strengthen the company’s Powder Coatings business in Europe and North America and will bring key technological know-how and significant synergy potential. The transaction is expected to close during the second quarter of 2010.
Notes: In January 2009, AkzoNobel’s Car Refinishes business was announced as the official supplier of paint solutions to the Vodafone McLaren Mercedes Formula 1 team. In December 2009, AkzoNobel announced, in partnership with The Home Depot in North America, the development of a new range of high-quality paints for the Martha Stewart Living Brand.
2. PPG Industries Inc.
Pittsburgh
412/434.3131
www.ppg.com
Chairman/CEO: Charles E. Bunch
Coatings Sales: Approx. $9.2 billion
PPG’s global coatings businesses comprise coatings for auto OEM, auto refinish, industrial, architectural, aerospace, packaging, and protective and marine applications. PPG serves customers in industrial, transportation, consumer products, and construction markets and aftermarkets. It is the technology leader in coatings for the wood-flooring industry and a leader in the supply of paints for consumer electronics. PPG is the largest producer worldwide of transportation OEM and refinish coatings. Notably, the Asia/Pacific region posted record earnings for PPG in 2009 and now represents about 18 percent of PPG's coatings portfolio. Coatings represented about 75 percent of 2009 corporate sales of $12.2 billion.
Source: 2009 Annual Report, company Web site, company contact
Recent Acquisitions and Divestments: While there were no notable acquisitions or divestitures by PPG in 2009, the company weathered challenging economic conditions by undertaking several restructuring initiatives and emphasizing operating discipline and cost control to reshape its business and better align with fundamental changes in the marketplace. Initiatives included closing several manufacturing and distribution facilities and eliminating approximately 3,800 positions. The company also accelerated some integration activities identified upon the 2008 acquisition of SigmaKalon.
3. Sherwin-Williams Co.
Cleveland
216/566.2000
www.sherwin.com
Chairman & CEO: Christopher M. Connor
Coatings Sales: Approx. $5.31 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 three operating segments: Paint Stores Group, Consumer Group and Global Group. Consolidated net sales in 2009 decreased slightly by $886 million, or 11 percent, to $7.094 billion (2008: $7.980 billion) in the year, due primarily the weak U.S. housing market and worsening U.S. economic conditions. It is estimated that between 70 to 75 percent of sales, or about $5.31 billion, represents coatings sales, with the remainder being related products, including wallcoverings, floor coverings and application supplies. Sherwin-Williams has company-operated stores in all 50 states, Canada and some countries in Latin America. In 2009, the company opened 53 stores in new markets and consolidated an additional 45 redundant store locations, for a net increase of eight new stores for the year. The company’s store count in the United States, Canada and the Caribbean now stands at 3,354. 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: 2009 Annual Report, company Web site, press releases
Notes: In March of 2010, the company announced it had closed an agreement to acquire the Industrial Wood Coatings business of Arch Chemicals, Inc. Headquartered in Pianoro, Italy, Arch Industrial Wood Coatings trades under the Sayerlack brand name and is a leading coatings innovator in the joinery, furniture, and cabinets markets. In May of 2010, the company signed an agreement to acquire Becker Acroma Industrial Wood Coatings, a subsidiary of AB Wilh. Headquartered in Stockholm, Sweden, Becker Acroma is one of the largest manufacturers of industrial wood coatings globally and a technology leader in water, UV and other wood coatings.
4. DuPont Performance Coatings
Wilmington, DE
302/774.1000
www.dupont.com
Chairman/CEO: Ellen J. Kullman
President: Terry Caloghiris
Coatings Sales: $3.5 billion
DuPont Performance Coatings includes its core markets of automotive, collision repair, and industrial coatings. The company offers high-performance liquid and powder coatings as well as high-performance specialty products. In 2009, global sales were 13 percent of 2009 corporate sales of $26.1 billion. Sales of $3.4 billion were down 21 percent when compared to prior year. The price reflects a 20 percent decline in volume, due in large part to the global economic recession in the automotive industry.
Parent Company: DuPont
Source: Dupont 2009 Annual Report, company Web site, company contact
Notes: Dupont Performance Coatings closed an OEM Coatings manufacturing facility in Lemans, France, an OEM Powder Coatings plant in Landshut, Germany, and a coatings lab in the United States. In addition, a plant was opened in Savli, India, serving the refinish markets, and industrial automotive plastic coatings.
5. BASF Coatings
Münster, Germany
+0049 25 01 140
www.basf-coatings.com
CEO/President: Raimar Jahn
Coatings Sales: $3.2 billion (€2.2 billion)
BASF Coatings, the Coatings division of the BASF Group, develops, produces and markets a high-quality range of innovative automotive OEM coatings, automotive refinishes and industrial coatings as well as decorative paints. BASF has significant market positions in the Coatings sector in Europe, North America, South America and the Asia-Pacific region. BASF Coatings is among the top three global leaders of automotive OEM coatings.
Parent Company: BASF SE
Source: Company contact
Notes: In 2009, BASF Coatings expanded its water-based coatings in Würzburg, Germany. Also in 2009, BASF Coatings opened the Refinish Competence Center (training center for spray painters) at its Münster, Germany, site. Additionally, BASF has expanded its coatings business in ASEAN, with Thailand at the center, to serve the large coatings market in the region for motorcycles, industrial coatings and the automotive industry.
6. The Valspar Corp.
Minneapolis
612/851.7000
www.valspar.com
Chairman of the Board/CEO: William L. Mansfield
Coatings Sales: $2.655 billion
Valspar experienced a total sales decline of 17 percent in 2009. The company operates its coatings-related businesses in two reportable segments: Paints and Coatings. Sales in the Paints segment decreased 4.9 percent (2009 revenue of $1,072.4 million) and 22.9 percent in the Coatings segment (2009 revenue of $1,582.8 million), for total coatings sales of $2,655 million. Despite the volume declines, the company reduced its cost structure, allowing it to remain profitable in all product lines. International sales accounted for approximately 38 percent of consolidated net sales.
Source: 2009 Annual Report, company Web site
7. Kansai Paint Co., Ltd.
Osaka, Japan
+81.6.6203 5531
www.kansai.co.jp
President: Shoju Kobayashi
Coatings Sales: $2.319 billion for fiscal year ended March 31, 2009
Kansai Paint Co., Ltd. is a manufacturer of paint and coatings used in Japan, Europe and the Americas, as well as China, India and other Asian countries. Core business areas include Automotive Coatings, Industrial Coatings, Decorative Coatings, and Marine and Protective Coatings.
Source: Company Annual Report
8. RPM International Inc.
Medina, OH
330/273.5090
www.rpminc.com
Chairman/CEO/President: Frank C. Sullivan
Coatings Sales: $2.22 billion for fiscal year ended May 31, 2009
RPM is a holding company with subsidiaries that are 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. Major industrial brands are Stonhard, Tremco, illbruck, Carboline, Day-Glo and Dryvit. RPM's consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement, boat repair and maintenance, and by hobbyists. Consumer brands include Zinsser, Rust-Oleum, DAP, Varathane and Testors.
Subsidiaries: A/D Fire, Agpro, Alteco Technik, Carboline, Chemical Coatings, Chemical Specialties, Compact Technology, DAP, Dane Color, Day-Glo, Dryvit, Ecoloc, Euclid Admixture, Euclid Chemical, Eucomex, Fibergrate, Flowcrete, Guardian Protection, Increte Systems, Kop-Coat, Mantrose-Haeuser, Martin Mathys, Modern Masters, New Parks, Nullifire, Paramount Technical, Productos Cave, Radiant Color, Republic Powdered Metals, RPM/Belgium, RPM Wood Finishes, Rust-Oleum, Star Maling, Stonhard, TCI, Testors, Tor Coatings, Toxement, Tremco, Universal Sealants, Vandex, Watco, Weatherproofing Technologies, Westfield Coatings, Wolman and Zinsser.
Parent Company: RPM International Inc.
Source: Company contact, 2009 Annual Report, press releases
Recent Acquisitions and Divestments: Recent transactions include Stonhard’s acquisition of $5 million Australia business Ascoat Pty Ltd in September 2009; Carboline taking a majority interest in its $8 million Indian joint venture, CDC Carboline India Pvt. Ltd., in October 2009; Rust-Oleum’s acquisition of $3.5 million UK-based FibreGrid Limited in December 2009; RPM’s acquisition of $55 million UK-headquartered Universal Sealants Limited in January 2010; and Rust-Oleum’s acquisition of $6 million Netherlands-based Chemtec Chemicals in March 2010.
9. Nippon Paint Co.
Osaka, Japan
+81.6.64581111
www.nipponpaint.co.jp
President: Kenji Sakai
Coatings Sales: $2.1 billion
Nippon Paint produces paints and 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. Jotun
Sandefjord, Norway
47.33.45.70.00
www.jotun.com
President and CEO: Morten Fon
Coatings Sales: $1.79 billion
The Jotun Group is a leading manufacturer of paints, coatings and powder coatings. It consists of four divisions: Jotun Dekorativ, responsible for Jotun’s decorative paints, stains and varnish deliveries in Scandinavia; Jotun Paints, responsible for decorative paints in markets outside Scandinavia; Jotun Coatings, a global segment responsible for marine protective coatings and decorative paints in local European and selected Asian markets; and Jotun Powder Coatings, responsible for powder coatings.
Source: 2009 Annual Report, company Web site
Notes: In November 2009, Jotun inaugurated a new paint factory in Yanbu, Saudi Arabia.
The PCI 25
Ace Hardware Corp.
Oakbrook, IL
630/990.6600
www.acehardware.com
CEO/President: Ray A. Griffith
Chairman of the Board: Dave Ziegler
Coatings Sales: $128 million
Ace Hardware is the largest retailer-owned hardware cooperative in the industry. Ace manufactures a full assortment of paints, stains, primers and light-industrial products with its primary business centered on the Ace ROYAL™ brand. The Royal brand has recently expanded to include Royal Finest™ - the only paint on the market with Scotchgard™ protection. All Ace Paint-branded products are produced in one of two facilities owned and operated by the Ace Paint division. Both facilities are located in the south suburbs of Chicago, IL, and are ISO 9001 (quality management) and ISO 14001 (environmental management) certified. In 2009, they were recognized for their pollution prevention initiatives by receiving the prestigious Illinois Governor's Sustainability Award. Aside from manufacturing its own line of products, Ace Paint also manufactures private-label brands for third-party accounts.
Source: Company contact
Arch Chemicals Inc.
Norwalk, CT
203/229.2900
www.archchemicals.com
President, CEO, Chairman of the Board: Michael E. Campbell
Coatings Sales: Approx. $379 million
The Wood Protection and Industrial Coatings business unit of Arch Chemicals is a producer of wood-treatment products sold under the brand names Wolman®, Dricon®, Tanalith®, Vacsol™, and Resistol™. Principal customers include sawmills and treaters of softwoods. The company also manufactures a range of industrial wood coatings for markets primarily located in Europe. Products include stains, polyester-based and polyurethane-based coatings, and water-based coatings and UV systems sold primarily under the brand names Sayerlack® and LineaBlu®. For 2009, sales decreased $80.3 million, or 18 percent, as significantly lower volumes (15 percent), due to the continued downturn in the economy, and unfavorable foreign exchange (five percent) were partially offset by improved pricing (two percent).
Source: 2009 10-K Form, company Web site
Notes: In March 2010, The Sherwin-Williams Co. acquired the Industrial Wood Coatings business of Arch Chemicals.
Behr Process Corp.
Santa Ana, CA
714/545.7101
www.behr.com
CEO/President: Jeff Filley
Coatings Sales: Approx. $1.714 billion
Masco’s Decorative Architectural Products segment includes Behr Process Corp. and Masterchem Industries, LLC. A leader in the DIY market with The Home Depot, Behr also provides Behr Premium Select paint for professional application through Masco Contractor Services. Masterchem Industries sells under the brand names of Kilz®, Casual Colors®, Expressions®, Hammerite® and others. These brands are sold through big-box stores, national retailers, paint and hardware stores and distributors.
Parent Company: Masco Corp.
Source: Masco Corp. SEC filing
Benjamin Moore & Co.
Montvale, NJ
201/573.9600
www.benjaminmoore.com
Oakbrook, IL
630/990.6600
www.acehardware.com
CEO/President: Ray A. Griffith
Chairman of the Board: Dave Ziegler
Coatings Sales: $128 million
Ace Hardware is the largest retailer-owned hardware cooperative in the industry. Ace manufactures a full assortment of paints, stains, primers and light-industrial products with its primary business centered on the Ace ROYAL™ brand. The Royal brand has recently expanded to include Royal Finest™ - the only paint on the market with Scotchgard™ protection. All Ace Paint-branded products are produced in one of two facilities owned and operated by the Ace Paint division. Both facilities are located in the south suburbs of Chicago, IL, and are ISO 9001 (quality management) and ISO 14001 (environmental management) certified. In 2009, they were recognized for their pollution prevention initiatives by receiving the prestigious Illinois Governor's Sustainability Award. Aside from manufacturing its own line of products, Ace Paint also manufactures private-label brands for third-party accounts.
Source: Company contact
Arch Chemicals Inc.
Norwalk, CT
203/229.2900
www.archchemicals.com
President, CEO, Chairman of the Board: Michael E. Campbell
Coatings Sales: Approx. $379 million
The Wood Protection and Industrial Coatings business unit of Arch Chemicals is a producer of wood-treatment products sold under the brand names Wolman®, Dricon®, Tanalith®, Vacsol™, and Resistol™. Principal customers include sawmills and treaters of softwoods. The company also manufactures a range of industrial wood coatings for markets primarily located in Europe. Products include stains, polyester-based and polyurethane-based coatings, and water-based coatings and UV systems sold primarily under the brand names Sayerlack® and LineaBlu®. For 2009, sales decreased $80.3 million, or 18 percent, as significantly lower volumes (15 percent), due to the continued downturn in the economy, and unfavorable foreign exchange (five percent) were partially offset by improved pricing (two percent).
Source: 2009 10-K Form, company Web site
Notes: In March 2010, The Sherwin-Williams Co. acquired the Industrial Wood Coatings business of Arch Chemicals.
Behr Process Corp.
Santa Ana, CA
714/545.7101
www.behr.com
CEO/President: Jeff Filley
Coatings Sales: Approx. $1.714 billion
Masco’s Decorative Architectural Products segment includes Behr Process Corp. and Masterchem Industries, LLC. A leader in the DIY market with The Home Depot, Behr also provides Behr Premium Select paint for professional application through Masco Contractor Services. Masterchem Industries sells under the brand names of Kilz®, Casual Colors®, Expressions®, Hammerite® and others. These brands are sold through big-box stores, national retailers, paint and hardware stores and distributors.
Parent Company: Masco Corp.
Source: Masco Corp. SEC filing
Benjamin Moore & Co.
Montvale, NJ
201/573.9600
www.benjaminmoore.com
President/CEO: Denis Abrams
Coatings Sales: Not available
Benjamin Moore & Co. is primarily a North American paint company. Its products are sold nationally through independent paint stores. It specializes in architectural coatings with some industrial maintenance coatings. The company has a small amount of sales overseas.
Parent Company: Berkshire Hathaway Inc.
Source: Company Web site
Cloverdale Paint Inc.
Surrey B.C., Canada
604/569.6261
www.cloverdalepaint.com
CEO: C.A. (Al) Mordy
Rodda Paint Co.
800/242.3713
Portland, OR
www.roddapaint.com
COO: Bill Boone
Coatings Sales: $212 million (combined)
Cloverdale Paint Inc. and its subsidiaries, Rodda Paint Co., Fargo Paint & Chemicals Inc., and Guertin Coatings, Sealants & Polymers Ltd., operate through 107 corporate-owned locations covering western Canada as well as Washington, Oregon, Idaho and Alaska. The companies manufacture architectural paint and industrial coatings along with certain powder coatings, specialty resins and sealant products. Combined markets include sales to a wide variety of professional, commercial, 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 Web site
Comex Group
Mexico City
www.comex.com.mx
CEO: Marcos Achar
CEO, U.S./Canada Div.: Elías Revah
CEO, Mexico Div.: Leon Cohen
Coatings Sales: $1.33 billion
Comex Group was formed with the consolidation of Professional Paint Inc. and Comex. Professional Paint Inc. now operates as the U.S. and Canadian Division and Comex Paint as the Mexico division. Comex Paint is the leading architectural paint brand in Mexico. In addition to architectural paints, Comex manufactures industrial coatings, automotive paints, roof coatings, wood-care products and aerosols.
Subsidiaries: Comex, Color Wheel, Frazee, General Paint, Kwal, Parker and Duckback
Source: Company contact
Recent Acquisitions and Divestments: In 2008, the company acquired the assets and brands of Para Paints and Crown Diamond in Canada.
Dow Powder Coatings
Reading, PA
610/372.3600
www.rohmhaaspowdercoatings.com
Coatings Sales: Not available
Dow Powder Coating offers a strong portfolio of powder coatings that are utilized within the consumer, automotive, architectural, industrial and general metal-finishing industries. The company had powder coatings operations in Europe, South America and Asia. The business was formerly the powder coatings business unit of Rohm and Haas, which was purchased by The Dow Chemical Co. in April of 2009. In November 2009, Dow announced plans to sell the business to AkzoNobel. The sale to AkzoNobel was finalized on June 1, 2010. The company will be AkzoNobel’s powder coatings activities.
Source: Press Release, company Web site
Dunn-Edwards Corp.
Los Angeles
323/771.3330
www.dunnedwards.com
CEO: Kenneth N. Edwards
President/COO: Karl Altergott
Coatings Sales: Not available
Dunn-Edwards operates 103 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 Web site, press releases
Notes: In April of 2010, Dunn-Edwards launched Enso™, a premium, low-odor, zero-VOC paint. Enso has virtually no odor during or after application, making it ideal for use in occupied spaces, such as homes, hotels, schools and hospitals.
DuPont Coatings & Color Technologies Group
Wilmington, DE
Coatings Sales: $3.5 billion
ELANTAS PDG Inc.
St. Louis, MO
314/621.5700
www.elantas.com
CEO/President: Susan W. Graham
Coatings Sales: $100 million
ELANTAS PDG Inc. is a premier supplier of specialty polymers for the electrical and electronic industries. 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.
Parent Company: ALTANA, AG, of Germany
Source: Company Web site, press releases, financial report, company contact
Ennis Paint Inc.
Ennis, TX
972/875.7272
www.ennispaint.com
Chairman: W. Bryce Anderson
Coatings Sales: $372 million
Ennis Paint Inc. 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
Kelly-Moore Paint Co., Inc.
San Carlos, CA
800/874.4436
www.kellymoore.com
President & CEO: Steve DeVoe
Coatings Sales: $240 million
Kelly-Moore is one of the largest employee-owned paint companies in the United States. Each employee-owner is committed to offering exceptional customer service. A leader and innovator of waterborne-coating technology, Kelly-Moore was the first company to offer recycled paints. Kelly-Moore operates 163 company-owned stores in eight states: Arkansas, California, Idaho, Nevada, Oklahoma, Oregon, Texas and Washington.
Source: Company contact
Notes: In 2009, Kelly-Moore Paints partnered with independent paint dealers making its entire paint product line available to over 100 stores nationwide. Kelly-Moore Paints also enjoyed continued success distributing its coatings overseas. In 2009, Kelly-Moore received the “Green Large Business of the Year Award,” in recognition of the company’s recycling programs that diverted 60 percent of its waste and for a carbon-offset program that has resulted in its San Carlos plant being carbon neutral.
Nippon Paint U.S. Subsidiaries
Coatings Sales: $190 million (combined)
NB Coatings Inc.
Lansing, IL
708/474.7000
www.nbcoatings.com
COO/President: Tim Ruberry
A subsidiary of Nippon Paint Co., NB Coatings is the leading supplier of liquid coatings for plastic automotive parts in North America. It provides a complete line of custom coatings for fascia, exterior trim, interior trim and lens applications. In addition to automotive paint, NB Coatings also offers resins and liquid dispersions to a variety of end markets.
NPA Coatings Inc.
Cleveland
216/651.5900
President: Masaru Sumida
NPA Coatings manufactures and sells powder coatings, automotive body coatings, pretreatment chemicals and transit film to customers in the general industrial and automotive markets.
Source: Company contact
PPG Industries Inc.
Pittsburgh
Coatings Sales: Approx. $9.2 billion
Quest Specialty Chemicals, Inc.
Detroit, Michigan
800/735.0303
www.questsc.com
CEO: Fred Quinn
COO: Gerry Loftus
Coatings Sales: $104 million
Quest Specialty Chemicals is funded through private equity by Huron Capital Partners of Detroit and TBG Capital of Dover, MA. The company acquires and builds specialty chemical companies in the coatings arena. It is organized into two principal divisions focusing on transportation, industrial and construction coatings. Subsidiaries Matrix System Automotive Finishes LLC and Raabe Co. LLC form the Specialty Coatings division while United Coatings Manufacturing Co. and HydroStop LLC form the Quest Construction Products division. Quest Construction Products offers a full line of premium-quality protective coatings for a wide range of architectural, industrial and roofing applications. Matrix System Automotive Finishes LLC is the largest independent manufacturer and distributor of automotive refinish paint products in the country, marketing paints, primers, clearcoats, hardeners and solvents while Raabe Co. LLC manufactures custom-matched branded touchup paint and provides private-label aerosol and liquid-paint filling services.
Source: Company contact, company Web site
RPM International Inc.
Medina, OH
Coatings Sales: $2.22 billion for fiscal year ended May 31, 2009
Sherwin-Williams Co.
Cleveland
Coatings Sales: Approx. $5.31 billion
Spraylat Corp.
Pelham, NY
914/738.1600
www.spraylat.com
CEO: Michael Borner
President: Raymond T. Chlodney
Coatings Sales: $102 million
Spraylat Corp. is a supplier to the product-finishing market, offering both decorative and functional coatings. Spraylat offers powder coatings for a wide variety of applications including architectural powder coatings that exceed AAMA specifications. It offers high-technology coatings, including electrically conductive coatings for EMI/RFI shielding 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, sign coatings, specialty OEM applications, as well as solutions and coatings for the manufacture of mirrors. Spraylat’s global operations include locations in North America, Europe and Asia. Subsidiaries: One Shot LLC, Spraylat GmbH (Germany), Spraylat Coatings (Shanghai) Ltd., Spraylat Boya Ltd. (Turkey).
Source: Company contact
TIGER Drylac U.S.A., Inc.
Reading, PA
800/243.8148
www.tiger-coatings.us
CEO: Larry McNeely
Coatings Sales: $ 180 million
TIGER is ranked the fifth-largest powder manufacturer in the world with sales of over $180 million and more than 800 employees. It offers the largest selection of top-of-the-line powder coatings in every type of chemistry, serving among others the architectural, automotive, lighting and furniture industries. The U.S. operations were established in 1984 and in 2009 reported North American coating sales of $ 64 million. Today, the company ships from six strategic distribution centers. The North American production network includes three facilities in the United States, in California, Illinois and Pennsylvania.
Source: Company contact
Tnemec Co., Inc.
Kansas City, MO
800/863.6321
www.tnemec.com
CEO/President: Peter Cortelyou
Coatings Sales: $112 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 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
True Value Co.
Chicago
773/695.5000
www.truevaluecompany.com
President/CEO: Lyle G. Heidemann
Coatings Sales: Not available
True Value Co. manufactures exclusive paint brands for its retail identities as well as private-label brands for 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. is one of the largest hardware cooperatives in the world, with sales of $1.8 billion in 2009. True Value Co. serves approximately 4,905 independent retailers operating under the store identities of True Value, Grand Rental Station, Taylor Rental, Party Central, Home & Garden Showplace and Induserve Supply.
Source: 2009 Annual Report, press releases
The Valspar Corp.
Minneapolis
Coatings Sales: $2.655 billion
Vogel Paint, Inc.
Orange City, IA
712/737.8880
www.vogelpaint.com
President/CEO: Drew F. Vogel
Coatings Sales: $125 million
Vogel Paints 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 began to build a fleet of company stores selling architectural paints and heavy-duty maintenance coatings in the 1970s. 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 70 company stores and seven manufacturing plants and distribution centers in 13 states.
Source: Company contact
Whitford Corp.
Elverson, PA
610/286.3500
www.whitfordww.com
President: David P. Willis, Jr.
Coatings Sales: In excess of $199 million
Whitford Corp. was founded in 1969 as the outgrowth of a compounder of solid PTFE materials. Whitford has dedicated itself to nonstick coatings for both industrial and consumer markets. Whitford’s first venture into the international market took place in 1971 with the opening of Whitford Plastics Ltd. in the north of England. Current products include: Xylan®, Xylac®, Dykor®, Xylar®, Ultralon®, Excalibur®, Eterna®, Eclipse®, QuanTanium®, Quantum2® and Suave®. Whitford has global manufacturing facilities, including sites in Elverson, PA, Brazil, Italy, the United Kingdom, China and Singapore.
Source: Company Web site, company contact
Notes: In May 2009, Whitford purchased the Akzo Nobel Non Stick Coatings LLC division (ANNS).
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: $105 million
Yenkin-Majestic is a vertically integrated manufacturer of paints and coatings 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-base floor paints and a unique acrylic enamel line (Diamond Hard). Its industrial division manufactures waterborne and solvent-borne products, including urethanes, epoxies and polyesters. Its OPC Polymers operations have served the United States, Canada and other markets, with expansion in 2010 by acquisition of SI Group-Canada Ltd. Product categories include alkyds, oil-modified urethanes, monomer-modified combinations, high solids, water reducibles, alkyd dispersions, epoxy esters and VOC-compliant vehicles.
Source: Company contact
Honorable mention:
California Products Corp.
Andover, MA
978/623.9980
www.californiapaints.com
CEO/President: Peter Longo
Coatings Sales: $71 million
California Paints manufactures coatings for architectural, consumers and contractors. California Products produces interior and exterior architectural paints.
Source: Company contact, Web site
Notes: In August 2009, California Products Corp. acquired customer base and certain assets of Progress Paint Manufacturing Co. The acquisition included certain Progress Paint brands and product lines including Gray Seal®, Fixall®, Duralux® Marine and other associated lines.
Deft Inc.
Irvine, CA
949/474.0400
www.deftfinishes.com
CEO/President: William A. Desmond
Coatings Sales: $42 million
Deft produces a full line of professional-quality, easy-to-use interior wood stains and finishes, as well as commercial and military-specification primers and coatings.
Source: Company contact
Farrell-Calhoun Inc.
Memphis, TN
90l/526.2211
www.farrellcalhoun.com
President: John A. Ward Jr.
VP Sales & Marketing.: Anthony Ward
Coatings Sales: $31 million
Farrell-Calhoun manufactures architectural and industrial maintenance coatings. The company has distribution throughout the mid-south and southeast through 30 company-owned stores and a network of 100 dealers.
Source: Company contact
Gemini Industries
El Reno, OK
405/262.5710
www.gemini-coatings.com
CEO/President: David Warren
Coatings Sales: $40 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 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
LORD Corp.
Cary, NC
877-ASK-LORD
www.lord.com
CEO/President: Richard L. McNeel
Coatings Sales: Not available
LORD Corp. 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.
Source: Company contact
The Muralo Co. Inc.
Bayonne, NJ
201/437.0770
www.muralo.com
President: James S. Norton
CEO: Edward F Norton Jr.
Coatings Sales: $22 million
Muralo 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
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
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