This issue of PCI features the 16th annual listing of the top coatings manufacturers in the world. We ranked both the Top-10 global leaders and the Top-50 North American companies according to their worldwide 2007 global coatings sales figures. All ranking numbers in red indicate a tie for that placement. The PCI 50 also appears all year on our website, www.pcimag.com.
2007 was a year of challenge and change for the coatings industry. As reported in the Marketplace 2007 year-end report by PCI Contributing Editor Edward Bourguignon and published in the June 2008 issue of this magazine, the U.S. paint industry faced some challenges in 2007. According to the U.S. Census Bureau, the decline in the economy, led by the decline in U.S. housing starts and resales, slowed shipments of coatings. However, the industry managed to offset this decline in shipments by increases in shipment value, even improving on gross margins during the period. The data presented in this year’s listings substantiates this trend, with companies reporting mixed sales. Many companies in both the global and domestic listings reported higher sales in 2007 than in 2006, while others reported the same or lower sales for 2007. In general, the global Top-10 reported increased sales for 2007, indicating continued growth in the global coatings market.
Despite challenges, global demand for coatings continues to grow as world markets expand. According to the recently published edition of “The Coatings 100,” a market review of the 2006 global paint industry published by Information Research, global demand for paint is estimated at 43.4 million metric tons, or 6.6 kg. per capita. China ranked as the largest paint importer and Germany ranked as the largest exporter, while the United States ranked as the largest paint producer and the largest market based on volume. Although the rapid growth in the market stems primarily from demand in China, the Middle East and Eastern Europe are considered to be important rising markets.
Continued consolidation of the industry was another trend in 2007, with a number of mergers and acquisitions that have changed the face of the global coatings industry. The largest of these acquisitions was the purchase of ICI by AkzoNobel. While the announcement of this acquisition was made midyear, it was not completed until January 2, 2008. As part of the deal, AkzoNobel agreed to divest certain activities in Britain, Ireland, Belgium and Canada to comply with EU and Canadian trade regulations. In addition, AkzoNobel sold ICI’s adhesives and electronic materials units to German consumer products group Henkel. As the consolidation of the two companies progressed, AkzoNobel announced a new brand strategy that includes a subtle name change and a new logo. With the new brand, AkzoNobel also announced the retirement of the ICI name. The other large acquisition in 2007 was the purchase of Sigma Kalon by PPG for $3.2 billion, also announced midyear but completed in January 2008. Because both of these purchases were completed in January of this year, ICI and Sigma Kalon are listed as separate companies in our global Top-10 listing since it is based on 2007 sales figures.
Several other notable acquisitions also occurred among North American paint companies in 2007. Sherwin-Williams had a total of seven acquisitions in 2007, four outside the United States and three inside, including the acquisitions of Columbia Paint & Coatings and M.A. Bruder & Sons Inc., two companies previously listed in the PCI 50. Sherwin-Williams has announced two additional acquisitions in 2008, the Liquid Coatings Subsidiaries of Inchem Holdings Asia and Becker Powder Coatings Inc. in North America. Other companies acquired in 2007 include Insl-x Products Corp., purchased by Benjamin Moore, and Chemcraft International, purchased by AkzoNobel. In April of this year Fujichem announced it was acquiring Red Spot.
A few other changes to this year’s listing should be noted. Because of the acquisition of ICI by AkzoNobel, 2007 sales figures for ICI North America, ranked #7 in North America in 2006, were not available, and ICI North America was removed from the list. Vista Paints and Willamette Valley were also removed from the list because their 2007 sales figures were unavailable.
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 June 2008 Issue at www.pcimag.com.
Global Top 10
1. AkzoNobel nvAmsterdam, the Netherlands +31-20-502 7833
www.akzonobel.com
Chairman of the Board of Management: Hans Wijers
Coatings Sales: $9.628 billion (€6.537 billion)
Akzo Nobel is the world’s largest coatings manufacturer and holds leading positions in most of its business. Despite difficult market conditions, coatings reported excellent performance with revenue growth at 5 percent, reaching €6.537 billion ($9.628 billion). Its portfolio includes decorative paints; products for industrial applications including powder and specialty coatings; car refinishes; marine, protective and aerospace coatings; and coatings-related products such as wood and building adhesives. Brands include global and household names such as International®, Sikkens®, Crown®, Interpon®, Levis® and Sadolin®.
Parent Company: Akzo Nobel, Amsterdam, the Netherlands
Source: 2007 annual report, press releases, company contact
Recent Acquisitions and Divestments: In November 2007, Akzo sold Organon BioSciences (OBS) to Schering-Plough Corp. The company also finalized the aquisition of Imperial Chemical Industries plc (ICI) on January 2, 2008. Akzo intends to consolidate its position as the world leader in decorative paints and performance coatings in all product markets. It will focus on growth in the emerging markets of Asia, Eastern and Central Europe, and South and Central America through a combination of organic growth and selected acquisition. It intends to strengthen its position in key mature markets through small and medium-sized acquisition. In July 2007, the company’s Powder Coatings business opened its first production plant in Russia. In January 2008, the Powder Coatings business opened a landmark facility in Dubai, strengthening its presence in the Middle East. Further expansion in China in 2007 included opening manufacturing plants in Chengdu, Sichuan province, and a new Decorative Coatings site in Langfang in northern China.
2. PPG Industries Inc.
Pittsburgh
412/434.3131
www.ppg.com
Chairman/CEO: Charles E. Bunch
Coatings Sales: Approx. $7.46 billion
PPG’s coatings business is made up of coatings for auto OEM, auto refinish, industrial, architectural, aerospace, packaging, and protective and marine applications. 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 about 67 percent of 2007 corporate sales of $11.2 billion. Industrial Coatings sales increased $410 million or 13 percent in 2007. Performance Coatings net sales increased $720 million or 23 percent in 2007.
Source: 2007 Annual Report, company website, company contact
Recent Acquisitions and Divestments: In 2007, South Africa-based Barloworld, Ltd. sold its Australian architectural paint unit, Barloworld Coatings Australia, to PPG Industries. PPG also completed its acquisition of the architectural and industrial coatings businesses of Renner Sayerlack, S.A., Gravatai, Brazil, and acquired certain assets of Champion Coatings, Inc., of Houston. PPG completed the acquisition of the SigmaKalon Group, a worldwide coatings producer based in Uithoorn, the Netherlands, on Jan. 2, 2008.
3. DuPont Coatings & Color Technologies Group
Wilmington, DE
302/774.1000
www.dupont.com
Chairman/CEO: Charles O. Holliday Jr.
Group V.P.: Terry Caloghiris
Coatings Sales: $6.6 billion
DuPont Coatings & Color Technologies Group’s platform includes its core markets of automotive, collision repair, paper, industrial coatings, 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 2007, global coatings sales were $4.4 billion. North American coatings sales in 2007 are estimated at $1.4 billion. DuPont, the parent company, had worldwide sales of $29.4 billion in 2007.
Parent Company: DuPont
Source: 2007 Annual Report, company website, company contact
Notes: In January 2008, DuPont Performance Coatings opened a plant in the Jiading district of Shanghai. DuPont also entered into an agreement with German automotive coatings manufacturer Bollig & Kemper to use DuPont’s EcoConcept coatings technology in plants in Germany and elsewhere in Europe.
4. Sherwin-Williams Co.
Cleveland
216/566.2000
www.sherwin.com
Chairman & CEO: Christopher M. Connor
Coatings Sales: $6.0 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 2007 increased $195.5 million, or 2.5 percent, to $8.005 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 percent of sales, or about $6.0 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. The company 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: 2007 Annual Report, company website, press releases, company contact
Recent Acquisitions: In 2007, Sherwin-Williams completed seven acquisitions, including four outside the United States. Foreign investments included NITCO, an architectural coatings company in India; Pinturas Industriales, an industrial paint company headquartered in Montevideo, Uruguay; NAPKO, an industrial-maintenance coatings company in Monterrey, Mexico; and Flex Recubrimientos, Acabados Automotrices and related companies, leading manufacturers and distributors of automotive after-market body fillers, putties, primers and other vehicle refinish products headquartered in Monterrey, Mexico. Acquisitions inside the United States included M.A. Bruder, a Philadelphia-based company with 132 paint stores; Spokane-based Columbia Paint & Coatings; and VHT Paint Lines, an aerosol coatings company in Scottsdale, AZ. The company also formed a joint venture with Altair Nanotechnologies, called AlSher Titania, to commercialize a new, low-cost Ti02 pigment manufacturing technology.
In February 2008, Sherwin-Williams announced it had acquired Becker Powder Coatings Inc. in North America. The company also announced it had signed a definitive agreement to acquire the Liquid Coatings Subsidiaries of Inchem Holdings of Inchem Holdings International Ltd., a producer of coatings applied to wood and plastic products in Asia.
5. ICI Paints
Berkshire, UK
+44 1753550000
www.ici.com
Chairman/Chief Exec.: David Hamill
Coatings Sales: $4.835 billion (£2.421 billion)
As of the end of 2007, ICI Paints was a leading international paint business and accounted for 49 percent of the Group’s continuing sales in 2007.
Notes: On January 2, 2008, AkzoNobel purchased ICI. In May 2008, AkzoNobel announced that the ICI name will no longer be used, but the ICI logo will continue to appear on relevant products during the migration period.
6. BASF Coatings AG
Münster, Germany
+0049 25 01 140
www.basf-coatings.com
CEO/President: Raimar Jahn
Coatings Sales: $4.007 billion (€2.587 billion)
BASF Coatings, a division of the world’s largest chemical company, BASF, produces and markets a high-quality range of automotive OEM paints, automotive refinish and industrial coatings as well as decorative paints. When it comes to automotive OEM coatings, BASF Coatings is among the top three global leaders. For its industrial coatings, the company focuses on coil, foil, liquid and powder coatings. BASF’S architectural coatings activities are based in Europe and South America. Since the integration of the RELIUS Group in early 2007, BASF Coatings offers construction paints for interior and exterior applications as well as external wall insulation systems in Europe. 2007 coatings sales increased 7 percent from 2006.
Parent Company: BASF
Source: 2007 Annual Report, company website, company contact
Notes: In 2007, BASF Coatings opened a new training center in Shenyang, China, for the company’s refinish coatings product users.
7. Valspar Corp.
Minneapolis
612/332.7371
www.valspar.com
Chairman of the Board/CEO: William L. Mansfield
Coatings Sales: $2.941 billion
Valspar achieved growth of 9.1 percent in 2007. The company operates its coatings-related businesses in two reportable segments: Paints and Coatings. Sales in the Paints segment increased 10.5 percent (2007 revenue of $1,088.8 million) and 10.0 percent in the Coatings segment (2007 revenue of $1,851.7 million), for a total coatings sales of $2,941 billion. Sales growth was driven by strong performance in new acquisitions and international operations. International sales rose 34 percent to $1.2 billion. The company’s fastest-growing markets are China, Latin America and Eastern Europe. In 2007, revenues from Asia increased more than 80 percent.
Source: 2007 Annual Report, company website, company contact
Notes: In Sept. 2007, Valspar acquired Teknos Nova Coil TNC Oy, a Helsinki-based manufacturer of high-performance coil coatings widely used in the construction industry. The company also successfully transitioned Lowe’s premium paint line to the Valspar brand and introduced Cabot stains at stores across the United States.
8. SigmaKalon Group BV
Uithoorn, the Netherlands
www.SigmaKalon.com
CEO: Pierre-Marie De Leener
Coatings Sales: $2.9 billion
As of January 2, 2008, SigmaKalon Group BV was purchased by PPG Industries and is now a subsidiary of PPG. With a portfolio of leading brands, SigmaKalon is a worldwide player in decorative, marine, protective and industrial coatings. SigmaKalon Group BV is headquartered in Uithoorn, the Netherlands, and was formed in 1999 from a subsidiary of Total SA. The company employs around 10,000 people in more than 40 countries, with a focus on Europe, Asia and Africa. It has plants and research and development facilities in Poland, Germany, the Netherlands and Belgium. 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.
Source: Company website, company contact
9. Nippon Paint Co.
Osaka, Japan
+81.6.64581111
www.nipponpaint.co.jp
President: Makoto Matsuura
Coatings Sales: $2.4 billion
Japan’s oldest paint company is also its largest. Nippon Paint produces coatings for the automotive and marine markets as well as other 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. RPM International Inc.
Medina, OH
330/273.5090
www.rpminc.com
CEO/President: Frank C. Sullivan
Coatings Sales: $2.1 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, boat repair and maintenance, and by hobbyists.
Subsidiaries: A/D Fire Protection, Alteco Technik, Carboline, Chemical Coatings, Day-Glo, Dryvit Systems, Guardian Protection Products, Tremco illbruck, Kop-Coat, Mantrose-Haeuser, Martin Mathys, Modern Masters, New Parks, Nullifire, Republic Powdered Metals, RPM Wood Finishes, RPM/Belgium, Rust-Oleum, Stonhard, TCI, Testors, Tor Coatings, Tremco, Westfield Coatings, Wolman and Zinsser.
Parent Company: RPM International Inc.
Source: Company contact, 2007 annual report, press releases
Notes: Recent transactions include the acquisition of $85-million Flowcrete Group in April 2008, Euclid Chemical’s acquisition of $15-million Increte Systems in March 2008, Tremco’s acquisition of $39-million Prosytec in March 2008, the $45-million divestiture of its Bondo subsidiary and StonCor’s acquisition of $30-million Star Maling in Sept. 2007.
THE PCI 50
1. PPG Industries Inc.Coatings Sales: $7.46 billion
2. DuPont Coatings & Color Technologies Group
Coatings Sales: $6.6 billion
3. Sherwin-Williams Co.
Coatings Sales: $6.0 billion
4. Valspar Corp.
Coatings Sales: $2.941 billion
5. RPM International, Inc.
Coatings Sales: $2.1 billion
6. Behr Process Corp.
Santa Ana, CA
714/545.7101
www.behr.com
CEO/President: Jeff Filley
Coatings Sales: $l.771 billion
Masco’s Decorative Architectural Products segment includes Behr Process Corp. and Masterchem Industries, LLC. Segment revenues in 2007 totaled $1.771 billion.
Already a leader in the DIY market with The Home Depot, Behr introduced Behr Premium Select paint for professional application by Masco Contractor Services into the new home construction channel.
Established more than 40 years ago, 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. Kilz, which is the number-one primer brand in the United States, launched the Casual Colors paint line in 2003 at Wal-Mart.
Parent Company: Masco Corp.
Source: 2007 Annual report, company website, company contact
7. Comex Group
Mexico City
www.comex.com.mx
CEO: Marcos Achar
President, U.S./Canada Div.: Kent Child
President, Mexico Div.: Leon Cohen
Coatings Sales: $1.47 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. Mexico’s largest paint manufacturer, 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. The company distributes its products through over 3,000 independent paint stores (Mexico Div.) and 380 company-owned stores (U.S./Canada Div.). It 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
8/9. BASF Coatings
Southfield, MI
800/347.2273
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, SE
Source: Company contact
8/9. Benjamin Moore & Co.
Montvale, NJ
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 maintenance coatings. The company has a small amount of sales overseas.
Parent Company: Berkshire Hathaway Inc.
Source: Company contact, company website
Notes: In June 2007, Benjamin Moore announced its intent to acquire Finnaren & Haley Paint & Coatings, a regional manufacturer based in Conshohocken, PA. In March 2008, the company purchased select assets and brands of Insl-x Products Corp.
10. Dunn-Edwards Corp.
Los Angeles
323/771.3330
www.dunnedwards.com
CEO: Kenneth N. Edwards
President/COO: Michael Badar
Coatings Sales: $384 million
Dunn-Edwards, founded in 1925, operates 100 stores in five western states: California, Arizona, New Mexico, Nevada and Texas. Dunn-Edwards is a leading 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. Recently the company has focused on opening new stores and investing in R&D. For the past five years, Dunn-Edwards has opened an average of five new stores per year, and in 2007 it opened a record nine stores.
Source: Company contact, website
Notes: On April 3, 2008, Dunn-Edwards opened its 100th location in Fullerton, CA.
11. Ennis Paint Inc.
Ennis, TX
972/875.7272
www.ennispaint.com
Chairman: W. Bryce Anderson
Global Director: John Anderson
Coatings Sales: $350 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, press release
Notes: In September 2007, Ennis Paint acquired the traffic paint division of Société Laurentide Inc., a privately held family owned business based in Shawinigan-Sud, Quebec, Canada.
12. Rohm and Haas Co.
Philadelphia
215/592.3000
www.rohmhaas.com
Chairman, President and CEO: Raj L. Gupta
Coatings Sales: $335 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: 2007 Annual Report, company contact, press release
Notes: In September 2007, Rohm and Haas Powder Coatings launched Claymore™, its European portfolio of powder coatings for architectural and industrial markets, and its associated brand, REALCOAT™.
13. Kelly-Moore Paint Co., Inc.
San Carlos, CA
650/592.8337
www.kellymoore.com
President: Steve DeVoe
Coatings Sales: $300 million
Kelly-Moore has grown to be one of the largest employee-owned paint manufacturers and suppliers in the United States. Kelly-Moore Paints now operates four regional state-of-the-art manufacturing facilities, producing over 20 million gallons of paint annually. Coatings and related products are sold through 168 company-owned retail stores in nine western states. The company is also recognized as an innovator and leader in the recycled paint industry with its E-Coat line.
Source: Company contact, company website
14. Cloverdale Paint Inc.
604/596.6261
Surrey, British Columbia, Canada
www.roddapaint.com or
www.cloverdalepaint.com
Rodda Paint Co. Chairman: Thomas J. Braden
Cloverdale Paint Inc. Chairman: Walter Vogel
Cloverdale Paint Inc. President and CEO: C.A. (Al) Mordy
Coatings Sales: $246 million
Cloverdale Paint Inc. and its subsidiaries, Rodda Paint Co., Fargo Paint & Chemicals Inc. and Guertin Coatings, Sealants & Polymers Ltd., operate through 109 corporate-owned locations in western Canada, the U.S. Pacific Northwest, Idaho and Alaska. Cloverdale is celebrating its 75th year of operations and currently employs 1,100 employees and operates six production facilities. The company manufactures architectural paints and industrial coatings as well as certain powder coatings, specialty resins and sealant products. Cloverdale is currently the largest privately owned paint company in Canada and sells to a wide variety of professional, commercial, industrial, private label and DIY customers as well as to a large number of Cloverdale Paint and Rodda Paint independent dealers. Rodda Paint Co. and Cloverdale Paint Co. merged in July 2004.
Source: Company contact, company website
Notes: In February 2008, Cloverdale Paint purchased Guertin Coatings, Sealants and Polymers Ldt. of Winnipeg, Manitoba, Canada.
15. TIGER Drylac U.S.A. Inc.
Ontario, CA
800/243.8148
www.tigerdrylac.com
CEO/President: Helmut Lehner and Karl Rijkse
Coatings Sales: 240 million
TIGER Drylac U.S.A. Inc. is a high-quality manufacturer of top-of-the-line powder coatings and boasts the largest selection of powder coatings in every type of chemistry. It serves a wide variety of business sectors, including the architectural, MDF, glass and automotive industries. TIGER Drylac U.S.A. Inc. was established in 1984 and operates five warehouse facilities in the United States (California, Illinois, Pennsylvania, Georgia and Texas) plus ships from several additional strategic distribution centers. The company’s production network includes three facilities in the United States (California, Illinois and Pennsylvania). TIGER is the fifth-largest powder manufacturer in the world with sales of over $240 million.
Source: Company contact
16. Nippon Paint U.S. Subsidiaries
Coatings Sales: $220 Million (combined)
NB Coatings Inc.
Lansing, IL
708/474.7000
www.nbcoatings.com
COO/President: Tim Ruberry
NB Coatings is a subsidiary of Nippon Paint Co. NB Coatings serves OEM and tier suppliers around the globe and is the industry leader in automotive paint-on-plastics in North America. It supplies a complete line of OEM-approved liquid coatings for fascia, exterior trim, interior trim and lens applications.
NPA Coatings Inc.
Cleveland
216/651.5900
President: Masaru Sumida
NPA Coatings, another subsidiary of Nippon Paint Co., 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
17. True Value Co.
Chicago
773/695.5000
www.truevaluecompany.com
Chairman: Brian A. Webb
President/CEO: Lyle G. Heidemann
Coatings Sales: $200 million
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 $2 billion in 2007. True Value Co. serves approximately 5,400 independent retailers operating under the store identities of True Value, Grand Rental Station, Taylor Rental, Party Central, Home & Garden Showplace and Induserve Supply.
Source: Company contact
18. Ace Hardware Corp.
Oakbrook, IL
630/990.6600
www.acehardware.com
CEO/President: Ray A. Griffith
Chairman of the Board: Dave Ziegler
Coatings Sales: $147 million
Ace Hardware Corp. is the largest-volume member-owned cooperative in the hardware industry. Ace manufactures its own paints and distributes them to member hardware stores. Ace opened 140 new stores in 2007 and now operates about 5,000 hardware stores, mostly in the United States, although it has stores in 70 other countries. Paint, cleaning and related supplies represent about 22 percent of Ace warehouse sales. About 4 percent of total sales are outside the United States.
Source: Company contact
19. Diamond Paints Co.
Orange City, IA
712/737.8880
www.diamondvogel.com
President/CEO: Drew Vogel
Coatings Sales: $ 140 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 over 70 company-owned stores in 13 central states and operates seven manufacturing facilities. 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 contact, website, press releases
20. Spraylat Corp.
Pelham, NY
914/738.1600
www.spraylat.com
CEO: Michael Borner
President: Raymond T. Chlodney
Coatings Sales: $125 million
Spraylat Corp. is an innovative supplier to the product finishing market, offering both decorative and functional coatings. Spraylat offers powder coatings for a wide variety of applications involving powder coatings that exceed ADMA 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, specialty OEM applications, as well as solutions and coatings for mirror manufacturing. Spraylat’s global operations include locations in North America, Europe and Asia.
Subsidiaries: Spraylat GmbH (in Germany), Spraylat Coatings (Shanghai) Ltd. and Spraylat de Mexico
Source: Company contact
21. ELANTAS PDG Inc.
St. Louis
314/621.5700
www.elantas.com
CEO/President: Dr. Susan W. Graham
Coatings Sales: $111 million
ELANTAS PDG Inc. was founded in 1919 as The P.D. George Co. and changed its name in March 2007, having been further united under the ALTANA umbrella. It 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. 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
22. Tnemec Co., Inc.
Kansas City, MO
800/863.6321
www.tnemec.com
CEO/President: Peter Cortelyou
Coatings Sales: $108 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
23. Quest Specialty Chemicals, Inc.
Seabrook, NH
603/468.1917
www.questsc.com
CEO: Fred Quinn
COO: Gerry Loftus
Coatings Sales: $105 million
Quest Specialty Chemicals is funded through private equity by Huron Capital Partners of Detroit and TBG Capital of Dover, MA. Quest’s mission is to acquire and build specialty chemical companies in the coatings arena. Quest seeks enterprises whose core competencies and drive are based on differentiated and defensible product technology in combination with a market-niche strategy focus. Quest has completed six acquisitions in the coatings market since November 2004 and has organized itself into three divisions focusing on transportation, industrial and construction coatings. The mission of these businesses is to repair, restore and preserve the assets of its customer.
Subsidiaries: United Coatings Manufacturing Co., Matrix System Automotive Finishes LLC, Raabe Co. LLC and Foxcolor, which is now a part of Raabe.
United Coatings Manufacturing Co. offers a full line of premium-quality protective coatings for a wide range of architectural, industrial and roofing applications. United operates from its facilities in Spokane, WA, and Tempe, AZ, and a joint venture in China. With distribution in over 40 countries, United markets its products on a worldwide basis. In November 2007, Quest acquired HydroStop of Charleston SC, which provides production capabilities on the East Coast and an extension of its product line with complete roofing systems.
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. In July of 2007, Quest acquired Zolatone to extend Matrix sales into the fleet market for finishes, including truck liner bed coatings.
Raabe Co. LLC, Menominee Falls, WI, 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 one-quarter ounce to five 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.
Source: Company contact
24. LORD Corp.
Cary, NC
877-ASK-LORD
www.lord.com
CEO/President: Richard L. McNeel
Coatings Sales: $100 million
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. LORD Corp. is privately held with worldwide sales amounting to over $700 million in 2007.
Source: Company contact
25. Yenkin-Majestic Paint Corp.
Columbus, OH
614/253.8511
www.majicpaints.com
www.yenkin-majestic.com
www.opcpolymers.com
President: Jonathan M. Petuchowski
COO: Andrew O. Smith
Coatings Sales: $98 million
Yenkin-Majestic 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
26. Red Spot Paint & Varnish Co.
Evansville, IN
812/428.9100
www.redspot.com
CEO/President: Charles D. Storms
Coatings Sales: $97 million
Red Spot is a privately held global coatings manufacturer specializing in coatings 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 applications for radio and climate controls, in-mold for instrument panels 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. 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, press release
Notes: As of May 2008, Red Spot was acquired by Fujichem, a U.S. subsidiary of Fujikura Kasei Co., Ltd. (FKK), Tokyo, Japan. Red Spot will operate as Red Spot Paint & Varnish Co. Inc., a consolidated subsidiary of FKK/Fujichem. Red Spot’s people, facilities and infrastructure in Evansville, IN, and Westland, MI, will continue to serve North America.
27. Hentzen Coatings Inc.
Milwaukee, WI 414/353.4200
www.hentzen.com
CEO/President: Albert Hentzen
Coatings Sales: $75 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
28. Seibert Powder Coatings
Cleveland
216/631.2002
CEO/President: Sam Rhue
Coatings Sales: $71.5 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
29. California Products Corp.
Andover, MA
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
30. Gemini Industries
El Reno, OK
405/262.5710
www.gemini-coatings.com
CEO/President: Roger Woolery
Coatings Sales: $50.7 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 to provide nationwide service.
Parent Company: Gemini Industries
Source: Company contact
31. Aervoe Industries Inc.
Gardnerville, NV
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, NV, and shipped from Nevada or Nashville, IL.
Source: Company contact
32. Daubert Chemical Co. Inc.
Chicago
708/496.7350
www.daubertchemical.com
CEO/President: Mike Dwyer
Coatings Sales: $47 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
33. 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, yet easy-to-use, interior wood stains and finishes, as well as commercial and military-specification primers and coatings.
Source: Company contact
34/35. Hirshfield’s Paint Mfg. Co.
Minneapolis
612/522.6621
www.hirshfields.com
President: Hans Hirshfield
Operations Director: Jason Boedigheimer
Coatings Sales: $40 million
Hirshfield’s Paint Manufacturing produces paints, stains and specialty finishes for residential, commercial and industrial markets. Hirshfield’s Paint Manufacturing provides consumer and professional coatings through 31 company-owned stores. In addition to its own brand, Hirshfield’s offers customers brand choices in paint selection with Benjamin Moore, Pratt & Lambert, Cabot Stains and Sikkens.
Source: Company website, company contact
34/35. 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
36. Sheboygan Paint Co.
Sheboygan, WI
920/458.2157
www.shebpaint.com
CEO: Brock Brownrigg
President: Charlie Malingowski
Coatings Sales: $39.5 million
The Sheboygan Paint Co. formulates and manufactures custom industrial finishes for national distribution. It has a broad product portfolio that 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.
Source: Company contact
37. McCormick Paints
Rockville, MD
301/770.3235
www.mccormickpaints.com
CEO/President: J. Casey McCormick
Coatings Sales: $35 million
McCormick Paints manufactures a full line of architectural paints for DIY consumers and contractors. These are sold through 25 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
38. Farrell-Calhoun Inc.
Memphis, TN
90l/526.2211
www.farrellcalhoun.com
President: John A. Ward Jr.
VP Sales & Mktg.: Anthony Ward
Coatings Sales: $33 million
Farrell-Calhoun manufactures architectural and industrial maintenance coatings and produced over two million gallons of paint in 2007. The company has distribution throughout the mid-south and southeast through 27 company-owned stores and a network of 100 dealers.
Source: Company contact
39/40. The Muralo Co. Inc.
Bayonne, NJ
201/437.0770
www.muralo.com
CEO/President: James S. Norton
Coatings Sales: $31 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
39/40. 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
41. INX International Ink Co.
Schaumburg, IL
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
42. Waverly
New York, NY
212/448.8020
www.waverly.com
President: Richard Platt
Coatings Sales: $27.4 million
Waverly is a premier home fashion and furnishings lifestyle brand and one of the most recognized names in home furnishings. Waverly is available through retailers and interior design showrooms nationwide and internationally. Its family of brands consists of Waverly and Waverly Home Classics.
Parent Company: NexCen Brands Inc.
Source: Company contact
43. Anchor Paint Manufacturing Co.
Tulsa, OK
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, company contact
44. O’Leary Paint Co.
Lansing, MI
517/487.2066
www.olearypaint.com
President: David M. O’Leary
Co-President: John O’Leary
Coatings Sales: $20-25 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.
Source: Company website, company contact
45. CASS Polymers Inc.
Oklahoma City
405/755.8448
www.casspolymers.com
CEO/President: W. Douglass Frans
Coatings Sales: $20 million
CASS Polymers is a holding company; Milamar Coatings, Adtech Plastic Systems and Tool Chemical Co. are the subsidiaries dealing with coatings. Milamar Coatings produces commercial/industrial high-performance flooring products; heavy-duty, solvent-free, low-odor coatings and adhesives for the consumer market; and military-specification coatings. Adtech Plastic Systems provides polymeric compounds to the aerospace, automotive, construction and marine industries. Tool Chemical provides urethane, epoxy and polyester resin systems for use in tooling applications.
Source: Website, company contact
46. Golden Artist Colors Inc.
New Berlin, NY
607/847.6154
www.goldenpaints.com
CEO: Mark Golden
President: Barbara Schindler
Coatings Sales: $19 million
Golden Artist Colors Inc., founded in 1980, manufactures and supplies professional-grade acrylic paints, architectural coatings and materials to artists and artisans worldwide.
Source: Company contact
47. Anvil Paints & Coatings, Inc.
Largo, FL
727/535.1411
www.anvilpaints.com
President: Clyde Garver and Glenn R. Roth
Coatings Sales: $15-20 million
Anvil Paints & Coatings manufactures specialty paints and coatings for the professional painting contractor and the DIY market. Anvil’s product line includes waterproofing sealers and concrete coatings, roof coatings, Venetian plaster as well as a complete line of interior texture products, dry wall refinishing coatings and primers. The company serves a variety of customers including independent paint retailers, the Sherwin-Williams Co., ICI Paint Centers, regional paint store chains, and national hardware co-ops. Additionally, Anvil supports a select group of full-line paint and paint sundries distributors who serve the manufactured home, roofing supply, export and paint dealer market channels.
Source: Company website, company contact
48. American Coatings
Tomball, TX
281/351.1776
www.americancoatings.com
Owners: Jim Adams and Jim Morrison
Coatings Sales: $13-17 million
American Coatings is a privately owned company that provides custom interior liners and exterior coatings to industrial manufactures, contractors, tank builders, floor coating applicators and equipment owners throughout the United States. Markets the company serves include oil field finishers, steel container manufacturers, chemical plants, refineries, transportation coatings, product finishing, general industrial, pipeline and unique flooring finishes for concrete. Product offerings consist of compliant systems in acrylics, alkyds, baking finishes, latexes, waterborne coatings, abrasive-resistant linings, degreasers, rust converters, polyesters, acrylic polyurethanes, multiple epoxy formulations (phenolic, novalacs, etc.), heat-resistant coatings, zinc-rich coatings, acrylic epoxies, silicone alkyds and strippable coatings.
Source: Company website, company contact
49. Northern Coatings & Chemical
Menominee, MI
906/863.2641
www.northern-coatings.com
Company President: Lawrence Melgary
Coatings Sales: $10-20 million
Northern Coatings & Chemical Co. is a technology-based manufacturer of specialty coatings. The company has five principal product groups: Coil Coatings, General Industrial and High-Heat Coatings, Waterborne Wood Finishes, Electronic Coatings, and Automotive/Truck Fastener and Under Carriage Protective Coatings.
Source: Company contact
50. National Coatings Corp.
Camarillo, CA
805/388.7112
www.nationalcoatings.com
Owners: Private
Coatings Sales: $10-13 million
National Coatings Corp. manufactures and supplies premium-quality elastomeric roof and wall-coating products. The company offers coating restoration systems that extend the life of nearly every kind of roofing, including asphalt-based, all single-plies metal and spray foam. National Coatings provides its market-leading systems under the AcryShield®, AcryLock™, AcryPly®, AcryPly®-D, AcryFlex® and RenuWall® names. Committed to developing sustainable, high-value solutions that extend the life of roofs and walls, National Coatings has been selected twice as the EPA’s ENERGY STAR® Partner of the Year.
Source: Company website and company contact
Honorable Mention
Passonno Paints
Watervliet, NY
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-based 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 also distributes DuPont high-performance coatings and Graco spray equipment and pumps.
Source: Company website, Internet, company contact
