Global Top Ten and The PCI 25 - 2013
Global Top 10
Following is a ranking of the top global coatings manufacturers in 2012.
Jump to Page 2 to see The PCI 25.
1. AkzoNobel nv
Amsterdam, The Netherlands
+31-20-502-7833
www.akzonobel.com
Chairman of the Board of Management: Ton Büchner
Coatings Sales: $13.2 billion (€10.0 billion)
AkzoNobel is a leading global coatings company and a major producer of specialty chemicals. The company serves industries and consumers worldwide with innovative products, and works to develop sustainable answers for customers. Headquartered in Amsterdam, the Netherlands, the company is consistently ranked as one of the leaders in the area of sustainability. AkzoNobel has operations in more than 80 countries.
Coatings brands include global and household names such as International®, Sikkens®, Glidden®, Dulux®, Crown®, Interpon®, Levis®, Coral® and Sadolin®.
Parent Company: AkzoNobel
Source: AkzoNobel Report 2012, press releases, company contact
Acquisitions and Divestments: In December 2012, AkzoNobel announced the divestment of Decorative Paints North America to PPG Industries, Inc.
Notes: In September 2012, AkzoNobel signed an agreement to supply advanced paint technology to McLaren Automotive, building on the success of the existing corporate partnership with the Vodafone McLaren Mercedes (VMM) Formula 1 team. The agreement extends this relationship to include road cars, including coatings for the MP4-12C and MP4-12C Spider, as well as the P1 when it enters production. In November 2012, the company signed an expanded joint venture agreement with the Yusuf Bin Ahmed Kanoo group of companies, in which AkzoNobel now supplies products from across its Performance Coatings portfolio, including professional woodcare, automotive refinish, marine, yacht, fire protection, protective and powder coatings.
2. PPG Industries, Inc.
Pittsburgh
412/434.3131
www.ppg.com
Chairman/CEO: Charles E. Bunch
Coatings Sales (Net): Approx. $11.28 billion
PPG’s global coatings businesses comprise coatings for the aerospace, architectural, automotive OEM, automotive refinish, industrial, packaging, and protective and marine markets. The company serves customers in industrial, transportation, consumer products, and construction markets and aftermarkets. PPG is the world’s leading manufacturer of transportation OEM and refinish coatings, as well as a leader in the supply of paints for consumer electronics.
In 2012, PPG achieved improved selling prices in each of its three coatings segments (Performance Coatings, Industrial Coatings and Architectural Coatings – EMEA), with higher selling prices as a response to persistent raw material and other cost inflation. Full-year net sales increased about 3 percent year-over-year to $4.8 billion for the company’s Performance Coatings segment (aerospace, architectural coatings – Americas and Asia-Pacific, automotive refinish, and protective and marine coatings businesses), about 5 percent year-over-year to $4.4 billion for the Industrial Coatings segment (automotive OEM, industrial and packaging coatings businesses), and about 2 percent year-over-year to $2.15 million for the Architectural Coatings – EMEA (Europe, Middle East and Africa) segment. Coatings represented about 74 percent of PPG’s 2012 total net sales of $15.2 billion, and coatings earnings grew about 20 percent for the full year 2012.
Source: 2012 Annual Report, company Web site, company contact
Notes: In December 2012, PPG completed the acquisition of North American-based industrial coatings company Spraylat. The company announced a restructuring initiative in April, mostly in global architectural coatings businesses and primarily in Europe, targeted to generate full-year pretax savings of $140 million. In June 2012, PPG entered into a technology license agreement with China-based Henan Billions that would provide that company the right to use PPG’s technology for the manufacture of chloride-grade titanium dioxide on a worldwide basis. PPG announced in July 2012 it would expand its current India joint venture with Asian Paints and enter into a second joint venture with the company, with PPG gaining effective management control of the original venture. Additionally, PPG continued its organic growth with the expansion of coatings capacity at its Tianjin, China, facility.
PPG greatly accelerated the pace of its portfolio transformation in January 2013 with completion of the separation of its commodity chemicals business and the subsequent merger of the separated business with Georgia Gulf Corp. to create a new company, Axiall Corp. In April 2013, PPG completed the acquisition of AkzoNobel’s North American architectural coatings business, the second-largest acquisition in the company’s history, which further extends its architectural coatings business in the United States, Canada and the Caribbean, and expands its reach in all three major North American distribution channels – home centers, independent paint dealers and company-owned paint stores. In May 2013, the company acquired certain assets of Deft Inc., a privately owned specialty coatings company.
3. The Sherwin-Williams Co.
Cleveland
216/566.2000
www.sherwin.com
Chairman/CEO: Christopher M. Connor
Coatings Sales: Approx. $7.15 billion
The Sherwin-Williams Co. is engaged in the manufacture, distribution and sale of coatings and related products to professional, industrial, commercial and retail customers primarily in North and South America. The company has four operating segments: Paint Stores Group, Consumer Group, Latin America Coatings Group and Global Finishes Group. Net sales for the Global Finishes Group increased 4.4 percent to $1.96 billion in 2012. Net sales for the Paint Stores Group increased 13.2 percent to $5.41 billion, and net sales for the Consumers Group increased 3.7 percent to $1.32 billion. Unfavorable currency exchange rates in 2012 posed a challenge to revenue and profits for the company’s Latin America Coatings Group. Sales in U.S. dollars for the group increased less than 1 percent to $836.1 million, while sales in local currencies grew more than 10 percent.
It was another record year for Sherwin-Williams in 2012, with the company marking the second consecutive year of consolidated sales that surpassed $9 billion. The company reported total consolidated sales for 2012 of $9.52 billion, an 8.8 percent increase over 2011, or $769 million. It is estimated that between 70 to 75 percent of sales, or about $7.15 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 2012, the company’s Paint Stores Group added 70 new stores, bringing its store count in the United States, Canada and the Caribbean to 3,520 locations, compared with 3,450 a year ago. 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: 2012 Annual Report, company Web site, press releases
Notes: In December 2012, the company completed the acquisition of Jiangsu Pulanna Coating Co. Ltd., a leading manufacturer of automotive coatings for the Chinese aftermarket. In November 2012, the company signed a definitive agreement to acquire Consorcio Comex, S.A. de C.V., a leader in the coatings market in Mexico with headquarters in Mexico City. In March 2013, Berger Paints India Ltd. agreed to acquire, through its wholly owned subsidiary firm Brushworks Paints Ltd., the architectural operations of Sherwin-Williams Paints India Pvt. Ltd.
4. DuPont Performance Coatings (now Axalta Coating Systems)
Wilmington, DE
855/547.1461
www.axaltacoatingsystems.com
President: John G. McCool
Coatings Sales: $4.2 billion
DuPont Performance Coatings includes its core markets of automotive, collision-repair and industrial coatings. The company develops, manufactures and sells coatings and application tools to automobile repair body shops and original equipment manufacturers in the automotive and heavy-duty truck markets. Global brands include Standox®, Spies Hecker®, Cromax® and Imron®. The company also serves the decorative, architectural, general industrial and job-coater segments of the powder coatings market under the brands Alesta®, NAP-GARD® FBE and ABCITE®. In August 2012, DuPont signed an agreement to sell the Performance Coatings business to The Carlyle Group for approximately $4.9 billion. The sale was completed on February 1, 2013, and the company was renamed Axalta Coating Systems.
Parent Company: The Carlyle Group
Source: DuPont 2012 Annual Report, press releases
5. BASF Coatings
Münster, Germany (global headquarters)
+49.2501.14.2040
Southfield, MI (North American headquarters)
248/304.5413
www.basf-coatings.com
CEO/President: Markus Kamieth
Coatings Sales: Approx. $4.0 billion (approx. €3.0 billion)
BASF Coatings is a division of BASF SE. In the Coatings Division, BASF 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. In 2012, the Coatings Division of the BASF Group achieved global sales of nearly $3.9 billion.
Parent Company: BASF SE
Source: Company contact, press releases, company Web site
Notes: In 2012, BASF’s Coatings Division invested €1 million in the construction of a new Application Center in Oldenburg, Germany. The center will be used for applications in the wind energy sector, as well as for marine and aircraft coatings and an array of applications in diverse industrial segments. In January 2013, BASF broke ground on a new automotive coatings plant in Shanghai, China. In March 2013, BASF opened a new coatings technical center for ASEAN’s growing automotive market in Bangkok, Thailand. In March 2013, BASF received the General Motors’ Supplier of the Year Award for 2012. The award has been given to BASF nine times in the last 11 years.
6. The Valspar Corp.
Minneapolis
612/851.7000
www.valspar.com
Chairman/CEO: Gary E. Hendrickson
Coatings Sales: $3.8 billion
Valspar experienced a total sales increase of approximately 2.6 percent in 2012. The company operates its coatings-related businesses in two reportable segments: Paints and Coatings. Sales in the Paints segment decreased .5 percent (2012 net sales of $1.6 billion). Sales in the Coatings segment increased 5.5 percent (2012 net sales of 2.2 billion) for total coatings sales of $3.8 billion. Valspar’s Paints segment includes consumer paint products in the United States, Australia and China, as well as auto refinish. Global brands in the Paints segment include Valsper, Huarun, Wattyl, Solver, Cabot, PlastiKote, Guardsman and Devine Color. Auto refinish brands include De Beer and House of Kolor. The Coatings segment includes four product lines: packaging, general industrial, coil and wood coatings. Analyzed by region, North America accounted for 56 percent of sales for 2012, followed by Asia-Pacific (25 percent), Europe (13 percent) and Latin America (6 percent).
Source: 2012 Annual Report, company Web site
Notes: In January 2013, Valspar announced a strategic paint supply relationship with Ace Hardware and the acquisition of the retailer’s paint manufacturing assets, which include two manufacturing facilities located near Chicago. Under terms of the agreement, Valspar will manufacture and supply Ace-branded paint products as well as make a comprehensive line of Valspar-branded paints available to more than 4,000 Ace retail locations in the United States.
7. Kansai Paint Co., Ltd.
Osaka, Japan
+81.6.6203 5531
www.kansai.co.jp
President: Yuzo Kawamori
Coatings Sales: Approx. $3.1 billion (for fiscal year ended March 31, 2012)
Founded in 1918, Kansai Paint Co. Ltd. is the largest coatings manufacturer in Japan and Africa, with leading market positions in India, China and Southeast Asia. It also has operations in Europe, the Americas and the Middle East. Core business areas include Automotive Coatings, Industrial Coatings, Decorative Coatings, and Marine and Protective Coatings. In the company’s 2012 annual report, it recorded an increase in net sales of approximately 8.3 percent compared to the previous year. Product sales in the Automotive Coatings business area accounted for 39 percent of sales. The Industrial Coatings business area accounted for 28 percent of sales, the Decorative Coatings business area accounted for 25 percent of sales, and the Marine and Protective Coatings business area accounted for eight percent of sales.
Source: Annual Report, press release
8. RPM International Inc.
Medina, OH
330/273.5090
www.rpminc.com
Chairman/CEO: Frank C. Sullivan
Coatings Sales: $2.7 billion (for fiscal year ended May 31, 2012)
RPM is a holding company with subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services serving both industrial and consumer markets. Industrial products include corrosion-control coatings, flooring coatings and specialty chemicals. Major industrial brands are Stonhard, Tremco, illbruck, Carboline, Flowcrete, Universal Sealants and Euco. RPM’s consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement, and by hobbyists. Consumer brands include Zinsser, Rust-Oleum, DAP, Varathane and Testors.
Subsidiaries: A/D Fire, Alteco Technik, API, Ascoat Contracting, Carboline, Chemtec Chemicals, Dane Color, DAP, DAP Canada, Ecoloc, Euclid Admixture, Euclid Chemical, Eucomex, FEMA, Fibergrate, Fibregrid, Flowcrete, Grupo P&V, HiChem, Hummervoll, Increte Systems, Kirker, Legend Brands, Mantrose-Haeuser, Martin Mathys, Modern Masters, New Parks, Paramount Technical, Productos Cave, Productos de DAP, Radiant Color, Republic Powdered Metals, RPM Building Solutions Group Europe, RPM/Belgium, Rust-Oleum, Rust-Oleum Argentina, Rust-Oleum Canada, Rust-Oleum Japan, Rust-Oleum Netherlands, Stonhard, Synta, Testor, Tor Coatings, Toxement, Tremco Barrier Solutions, Tremco illbruck, Tremco Inc., Universal Sealants, Vandex, Viapol, Watco, Weatherproofing Technologies, Wolman and Zinsser.
Parent Company: RPM International Inc.
Source: Company contact, 2012 Annual Report, press releases
Notes: Recent transactions include the Building Solutions Group’s acquisition of Brazilian roofing and building materials business Viapol in June 2012, RPM2 Group’s acquisition of nail polish enamel manufacturer Kirker Enterprises in September 2012, and Rust-Oleum Group’s acquisition of wood deck and concrete coatings manufacturer Synta in September 2012. RPM increased its cash dividend for the 39th consecutive year on October 4, 2012.
9. Nippon Paint Co.
Osaka, Japan
+81.6.64581111
www.nipponpaint.com
President: Kenji Sakai
Coatings Sales: $2.4 billion
Nippon Paint produces coatings for the automotive market, the marine coatings market, as well as industrial products. It also makes paints for residential and commercial buildings and for the do-it-yourself market. Nippon Paint’s manufacturing operations are located principally in Asia, but the company also has facilities in North America and Europe. In the United States, it has two subsidiaries that manufacture and sell paints: NB Coatings (liquid automotive coatings for plastic) and NPA Coatings (automotive body and powder coatings).
Source: Company contact
10. Jotun
Sandefjord, Norway
47.33.45.70.00
www.jotun.com
President/CEO: Morten Fon
Coatings Sales: Approx. $1.9 billion
The Jotun Group is a leading manufacturer of paint, coatings and powder coatings. By the end of 2012, the group consisted of 71 companies and 36 production facilities with representation and sales offices in 90 countries. The group has four divisions: Jotun Dekorativ, which consists of decorative paints, stains and varnishes for the professional and DIY markets in Norway, Sweden, Denmark and Iceland, as well as production of binding agents; Jotun Paints, which consists of decorative paints in the Middle East and Southeast Asia, including marine and protective coatings customers in those regions; Jotun Coatings, which consists of marine and protective coatings for shipping, industry and offshore in Europe, the United States, South Africa, Australia and North Asia, as well as decorative products for local customers in the same regions; and Jotun Powder Coatings, which consists of architectural, functional and industrial powder coatings in Scandinavia, Europe, the Middle East and Asia. Jotun reports sales in four business segments: Decorative Paints, Protective Coatings, Powder Coatings and Marine Coatings. The company saw growth in the Decorative, Protective and Powder Coatings segments for 2012. The Marine segment experienced a decline in sales for the year. Overall, the company reported a 6.5 percent increase in operating income in 2012 compared to the previous year, and a 17.8 percent increase in operating profit for 2012 compared to 2011.
Source: 2012 Annual Report, press releases
Notes: In March of 2012, the company opened a new paint production facility in Sandefjord to serve the Scandinavian market. In April 2013, Jotun announced plans to phase out lead chromates, a toxic chemical compound, from all coatings formulations worldwide.
The PCI 25
Following is a ranking of the top 25 North American coatings manufacturers in 2012.
Jump to Page 1 to see The Global top 10.
1. PPG Industries Inc.
Pittsburgh
www.ppg.com
Coatings Sales: Approx. $11.28 billion
2. The Sherwin-Williams Co.
Cleveland
www.sherwin.com
Coatings Sales: Approx. $7.15 billion
3. DuPont Performance Coatings (now Axalta Coating Systems)
Wilmington, DE
www.axaltacoatingsystem.com
Coatings Sales: $4.2 billion
4. The Valspar Corp.
Minneapolis
www.valspar.com
Coatings Sales: $3.8 billion
5. RPM International Inc.
Medina, OH
www.rpminc.com
Coatings Sales: $2.7 billion (for fiscal year ended May 31, 2012)
6. Behr Process Corp.
Santa Ana, CA
714/545.7101
www.behr.com
CEO/President: Jeff Filley
Coatings Sales: Approx. $1.82 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. Behr manufactures paints, decorative finishes, primers, stains and surface preparation products, which are sold exclusively at The Home Depot.
Parent Company: Masco Corp.
Source: Masco Corp. SEC filing
Notes: In 2012, Behr Paints introduced the next generation of Premium Plus® Interior Paint, BEHR Premium Plus self-priming, zero-VOC and low-odor interior paint, which now seals previously painted and uncoated surfaces without the use of a separate primer.
7. Comex Group
Mexico City
www.thecomexgroup.com
CEO: Marcos Achar
Coatings Sales: $1.48 billion
Comex Group was formed with the consolidation of Comex, Color Wheel, Frazee, General Paint, Kwal, Parker and Duckback. The company manufactures and sells architectural and industrial coatings in Mexico through 3,300 points of sale operated by 750 concessionaires. In the United States, Comex sells paint and coatings products under a variety of brand names through 240 company-operated paint stores. In Canada, the company markets multiple brands of coatings through 78 company-operated paint stores and approximately 1,500 independent paint dealers. In addition to architectural paints, Comex manufactures industrial coatings, roof coatings, wood-care products and aerosols.
Source: Company contact, press releases
Notes: In 2012, Comex acquired Krhal Powder Coatings in Northern Mexico. In November 2012, The Sherwin-Williams Co., Cleveland, signed a definitive agreement to acquire Consorcio Comex, S.A. de C.V. for approximately $2.34 billion.
8. Benjamin Moore & Co.
Montvale, NJ
201/573.9600
www.benjaminmoore.com
CEO: Robert S. (Bob) Merritt
Coatings Sales: Not reported (ranking based on PCI estimate)
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
Notes: In April 2013, Benjamin Moore repeated its ranking for the third consecutive year as highest in customer satisfaction with interior paint in the J.D. Power and Associates Interior Paint Satisfaction StudySM.
9. Ennis-Flint
Thomasville, NC
336/475.6600
www.ennisflint.com
Chairman: Bryce Anderson
Coatings Sales: Approx. $490 million
Ennis-Flint is a premier manufacturer of pavement markings and traffic safety products. Ennis Paint merged with Flint Trading in March 2012 to form Ennis-Flint. During 2012, the company opened a sales office in China, making that location the 12th country where Ennis-Flint has a physical presence.
Source: Company contact
10. Dunn-Edwards Corp.
Los Angeles, CA
323/771.3330
www.dunnedwards.com
President/CEO: Karl Altergott
Coatings Sales: Not reported (ranking based on PCI estimate)
Dunn-Edwards operates 111 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, company contact
Notes: Dunn-Edwards introduced a new line of interior, low-odor, zero-VOC paint called SPARTAZERO. These new premium interior paints are ideal for use in residential and commercial projects, schools, hospitals or any application where low-odor products are preferred. SPARTAZERO is available in flat, velvet, eggshell and semi-gloss finishes, in a range of tint bases.
11. TIGER Drylac U.S.A., Inc.
St. Charles, IL
800/243.8148
www.tiger-coatings.us
CEO: Larry McNeely
Coatings Sales: $287 million
TIGER is ranked the fifth-largest powder manufacturer in the world, with global sales of over $287 million and over than 1,000 employees. It offers the largest selection of powder coatings in every type of chemistry, serving, among others, the architectural, automotive, retail environment, lighting and furniture industries. The U.S. operations were established in 1984. Today, the company ships from six strategic distribution centers. The company’s North American production network includes two facilities in the United States, located in California and Illinois.
Source: Company contact
12. Kelly-Moore Paint Co., Inc.
San Carlos, CA
800/874.4436
www.kellymoore.com
President/CEO: Steve DeVoe
Coatings Sales: Approx. $255 million
Kelly-Moore is one of the largest employee-owned paint companies in the United States. The company is known in the industry as the “Painter’s Paint Store” for its high-quality products, fair prices and exceptional customer service. Kelly-Moore operates over 145 -company-owned stores in Arkansas, California, Idaho, Nevada, Oklahoma and Texas.
Source: Company contact, press releases, company Web site
13. Cloverdale Paint Inc.
Surrey B.C., Canada
604/569.6261
www.cloverdalepaint.com
CEO: C.A. (Al) Mordy
Rodda Paint Co.
Portland, OR
800/242.3713
www.roddapaint.com
COO: Bill Boone
Coatings Sales: $239 million (combined)
Cloverdale Paint Inc. and its subsidiaries, Rodda Paint Co., Fargo Paint & Chemicals Inc., Guertin Coatings, Sealants & Polymers Ltd., and Serif Coatings & Chemical, operate through 112 corporate-owned locations covering western Canada as well as Washington, Oregon, Idaho, Montana and Alaska. The companies manufacture architectural paint, and industrial and marine coatings along with certain powder coatings, specialty resins and sealant products. Combined markets include sales to a wide variety of professional, commercial, residential, industrial, marine, private-label and DIY customers, as well as a network supporting Cloverdale Paint and Rodda Paint independent dealers throughout the Pacific Northwest region.
Source: Company contact, company Web site
14. Nippon Paint U.S. Subsidiaries
Coatings Sales: $230 million (combined)
NB Coatings Inc.
Lansing, IL
708/474.7000
www.nbcoatings.com
CEO: Hidefumi Morita
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 OEM coatings for automotive fascia, exterior trim, interior trim and lens applications.
It supplies all major OEMs, from domestic (GM, Ford, and Chrysler) to transplant (Honda, Toyota, Nissan and Hyundai), as well as their tiers.
NPA Coatings Inc.
Cleveland
216/651.5900
CEO: Hidefumi Morita
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
15. Whitford Corp.
Elverson, PA
610/286.3500
www.whitfordww.com
President: David P. Willis, Jr.
Coatings Sales: $190+ million
Founded in 1969, Whitford Corp. has dedicated itself to fluoropolymer coatings for the industrial and consumer markets, later expanding to rubber, textiles, rope and cordage, and other markets. Whitford’s first international venture 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®, HALO®, Eclipse®, QuanTanium®, Quantum2®, Fusion®, PFA+ and others. Whitford has global manufacturing facilities, including sites in Brazil, Canada, Italy, the UK, India, China, Singapore and Elverson, PA. With the acquisition of Polymeric Systems Inc. in mid-2004, its portfolio expanded to include a wide variety of adhesive and sealant products. In 2006, Whitford purchased Alpha, a leading manufacturer of specialty coatings for the automotive industry. In 2009, Whitford acquired AkzoNobel Nonstick Coatings.
Source: Company Web site, company contact
Notes: In January 2011, Whitford purchased HP Polymers, a leading Canadian manufacturer of a variety of polymer resins. In April 2011, the company opened its ninth factory in Bangalore, India. Manufacturing at the site concentrates primarily on coatings for consumer products, along with a few specialized industrial applications.
16. Quest Specialty Chemicals, Inc.
Charleston, SC
800/966.7580
www.questsc.com
President/CEO: Doug Mattscheck
Coatings Sales: $160 million+
Quest Specialty Chemicals is funded through private equity by the Audax Group, located in Boston, MA, and Moelis Capital Partners, located in New York. The company acquires and builds specialty chemical companies in the coatings arena. It is organized into three operating divisions focusing on automotive refinish, industrial and construction coatings. The key product brands include: Matrix System automotive finishes; Raabe paints and coatings; Patriot industrial and Zolatone automotive, industrial and marine coatings; United coatings; HydroStop roofing systems and Streetbond asphalt repair coatings.
Quest Construction Products offers a line of protective coatings for a wide range of architectural, industrial and roofing applications. Quest Automotive Products is an independent manufacturer and distributor of aftermarket automotive refinish paint products, marketing paints, primers, clearcoats, hardeners and solvents. Quest Industrial Products manufactures custom-matched branded touchup paint, and provides private-label aerosol and liquid paint filling services, as well as specialty industrial coatings.
Source: Company contact, company Web site
17. Vogel Paint, Inc.
Orange City, IA
712/737. 8880
www.vogelpaint.com
President/CEO: Drew F. Vogel
Coatings Sales: $160 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 in the 1970s began to build a fleet of company stores selling architectural paints and heavy-duty maintenance coatings. The company formed the Peridium powder coatings division in 1998, and built a new powder coatings production facility in 2003.
Today, the company operates over 65 company stores and seven manufacturing plants and distribution centers in 13 states. It markets under the principal brand names of Diamond Vogel Paints, Old Masters Decorative Wood Finishes, Vogel Industrial Coatings, Peridium Powder Coatings and Van Sickle Paints.
Source: Company contact
Notes: In May 2011, Diamond Vogel announced a partnership with Sciessent, creator of the silver-based antimicrobial brand, Agion, to offer with the Peridium Powder Coatings line. The new Peridium line brings the quality and durability that industrial customers have found synonymous with the Vogel name with the added benefit of Agion antimicrobial product protection. In 2012, the company announced plans to expand its Peridium Powder Coatings plant, with completion projected in the spring of 2013. In 2011 the company acquired Fasse Paint and Coatings, Sheboygan Falls, WI, a distributor and manufacturer of industrial wood coatings and stains.
18. 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: $135 million
Yenkin-Majestic is a vertically integrated manufacturer of coatings and resins. Its full line of architectural paints includes interior and exterior products and a variety of specialties, including a complete farm program, low-VOC oil-based floor paints and a unique acrylic enamel line (Diamond Hard). Its industrial division manufactures waterborne and solventborne products, including urethanes, epoxies and polyesters.
Source: Company contact
19. Tnemec Co., Inc.
Kansas City, MO
800/863.6321
www.tnemec.com
CEO/President: Peter Cortelyou
Coating Sales: $128 million
Tnemec Co. manufactures more than 100 architectural and industrial coatings, from premium epoxies and polyurethanes to specialized fluoropolymer products, formulated specifically for extreme durability, enduring performance and enhanced aesthetics. Tnemec is a leading supplier of high-performance coatings for water tanks, treatment plants and industrial facilities. Tnemec’s StrataShield brand consists of resinous floor and wall coatings. The company’s Chemprobe division offers water-repellant and stain products for concrete, masonry and wood.
Source: Company contact
20. Ace Hardware Corp.
Oakbrook, IL
630/990.6600
www.acehardware.com
CEO/President: Ray A. Griffith
Chairman of the Board: Dave Ziegler
Coatings Sales: $124.6 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. All Ace Paint-branded products are produced in two facilities that are located in the south suburbs of Chicago, IL, and are ISO 9001 (quality management) and ISO 14001 (environmental management) certified.
Source: Company contact, press release
Notes: In January 2013, the company announced partnership with Valspar, wherein Valspar has acquired Ace’s paint manufacturing assets. Under terms of the agreement, Valspar will manufacture and supply Ace-branded paint products as well as make a comprehensive line of Valspar-branded paints available to more than 4,000 Ace retail locations in the United States.
21. 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, company contact
22. Hentzen Coatings Inc.
Milwaukee, WI
414/353.4200
www.hentzen.com
CEO/President: Albert Hentzen
Coatings Sales: $90-$100 million
Hentzen Coatings, founded in 1923, is a developer of advanced-technology coatings for the industrial OEM, aerospace and military markets. The company markets a wide range of industrial coatings, including waterborne, solvent-reducible and powder coatings.
Source: Company contact
Notes: In March of this year, Hentzen purchased the assets of CrossLink Powder Coatings of Clearwater, FL. In business since 1996, CrossLink produces and sells powder coatings for the general industrial and architectural market segments. The acquisition adds to Hentzen’s rapidly growing powder coatings business and is in line with the company’s growth strategy in the industrial coatings market.
23. California Products Corp.
Andover, MA
978/623.9980
www.californiapaints.com
www.stormsystem.com
CEO/President: Peter Longo
Executive Vice President California Paints: Dan Cohen
Vice President Storm System: Mike Gramke
Coatings Sales: $90 million
California Paints manufactures coatings for architectural consumers and contractors under the brand names California Paints and California Performance Coatings. California Products Corp. produces interior and exterior architectural paints, and light industrial and recreational surface coatings.
Source: Company contact, Web site
Notes: In 2012, California Products Corp. launched Storm System, a new division of exterior stains and finishes. In August 2009, California Products Corp. acquired the customer base and certain assets of Progress Paint Manufacturing Co., including Gray Seal®, Fixall®, Duralux® Marine and other associated lines.
24. Vista Paints
Fullerton, CA
714/680.3800
www.vistapaint.com
CEO/President: Eddie Fischer
Coatings Sales: $85 -$110 million
Vista Paints, founded in 1960, is a manufacturer of high-quality paints and coatings for the architectural and industrial-maintenance markets for sale through company-owned stores throughout California and Nevada. Its customers include the professional painter and the DIY consumer. The stores supply wallpaper, window coverings and related painting supplies in addition to paint.
Source: Company contact
25. True Value Company
Chicago
773/695.5000
www.truevaluecompany.com
President/CEO: John R. Hartmann
Coatings Sales: Approx. $80 million
True Value Co. manufactures exclusive paint brands for its retail identities and third-party accounts. Paint is manufactured under the EasyCare and Weatherall brands in Cary, IL, and distributed nationally to its core hardware stores. True Value Company, headquartered in Chicago, is one of the world’s largest retailer-owned hardware cooperatives with gross billings of $1.9 billion and revenue of $1.4 billion in 2012. The True Value cooperative includes approximately 4,500 independent retailer locations worldwide operating under the store identities of True Value, Grand Rental Station, Taylor Rental, Party Central, Home & Garden Showplace and Induserve Supply.
Source: True Value Corporate Communications Department
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Gemini Industries
El Reno, OK
405/262.5710
www.gemini-coatings.com
CEO/President: David Warren
Coatings Sales: $48 million
Founded in 1964, Gemini Industries is an employee-owned company that manufactures and distributes an extensive line of coatings, aerosol products and touchup materials for the architectural wood finishing market. A sophisticated line of high-performance coatings for cabinet makers, furniture finishers and refinishes represents 50 percent of sales. It also manufactures a line of EPA-registered wood preservatives and related products for use on exterior decks, siding and fences. Gemini has five plants and distribution facilities that provide nationwide service.
Parent Company: Gemini Industries
Source: Company contact
Sun Paint & Coatings
Tampa, FL
813/367.4444
www.suncoatings.com
President: Michael Hyer
Coatings Sales: $38 million
Sun Paints and Coatings is a family owned company that has produced an array of architectural and light industrial coatings since 1971. Headquartered in Tampa, FL, the company’s products are distributed nationally and globally through private-label partners, a vast network of dealers, and direct to contractors and the public through the company’s own chain of Sun Paints and Coatings stores. The company operates three plants – two in Tampa and one in Phoenix. Sun prides itself on being on the forefront of coatings technology by investing heavily in research and development. It’s architectural products range from floor to roof coatings and everything in between.
Source: Company contact, company Web site
Farrell-Calhoun Inc.
Memphis, TN
90l/526.2211
www.farrellcalhoun.com
President: John A. Ward Jr.
VP Sales and Marketing: Anthony Ward
Coatings Sales: $34 million
Farrell-Calhoun manufactures architectural and industrial maintenance coatings. The company has distribution throughout the Mid-South and Southeast through 32 company-owned stores and a network of 100 dealers.
Source: Company contact
The Muralo Co. Inc.
Bayonne, NJ
201/437.0770
www.muralo.com
President: James S. Norton
Coatings Sales: $15 million
Muralo manufactures a 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
FORTECH Products Inc.
Brighton, MI
248/446.9500
www.fortechproducts.com
President: Creighton E. Forester
Coating Sales: $12 million
FORTECH Products Inc. is a developer and manufacturer of various OEM-approved high-heat, corrosion-resistant, chip-resistant water-based coatings for the automotive, agricultural, recreational-vehicle and allied industries. Coating products include TechKote WA 2935 and TechKote WA 2951 (first, second and third generation), water-based, high-heat, corrosion-resistant coating; WA 2975 water-based chip-resistant coating; and TechKote WE 2000 water-based, heat-resistant protective epoxy coating.
Source: Company contact
