Coatings Word July 2016

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Table of Contents July 2016 Vol. 21, No. 7
44
Top Companies Report

A global ranking of the top manufacturers of paints, coatings, adhesives and sealants
94
97
99
China Coatings Summit Review

Resins Directory
Is There a Correlation Between Contact Angle and Stain Repellency?
COLUMNS
Business Corner ................................................... 30

We Are Seeing The Beginning Stages Of A New Normal For
Middle Market M&A Part 1 Of 3
International Coatings Scene ............................... 33

Latin America Election Underscores Peru Growth Outlook
Europe SMEs Face Challenges Related to REACH
China Future Growth Foreseen for UV Coatings in China
Africa East Africa Coatings Congress, Part 1
Russia Foreign Producers Adapted to New Conditions in
the Russian Market
DEPARTMENTS
Editorial ................................................................. 6
As We Go to Press ................................................. 8
Fresh Paint ........................................................... 10
Market Report ..................................................... 26
New Products ...................................................... 28
Industry News .................................................... 107
Suppliers Corner ................................................ 109
People in the News ............................................ 110
Meetings ............................................................ 111
Final Coat........................................................... 114
ADVERTISING SECTIONS
Classified Ads..................................................... 112
Advertising Index............................................... 113
COATINGS WORLD (ISSN 152-711-29) is published monthly by Rodman Media Corp., 70 Hilltop Road, Ramsey, NJ 07446 USA. Phone: (201) 825-2552; Fax (201) 825-0553.
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Editors Page
Major Changes in the

Coatings Industry
his year the coatings industry is facing a number of major changes

that will certainly impact next years Top Companies rankings. All
eyes are on two major acquisitions announced earlier this year.
AkzoNobel (number 2 in this years ranking) has made an agreed offer
to acquire BASFs Industrial Coatings (10) business for 475 million.
The transaction would include technologies, patents and trademarks,
as well as securing supply to customers worldwide. Two manufacturing
plants one in the UK and one in South Africa would also be transferred to AkzoNobel. The business generated revenue of about 300 million in 2015 and supplies products for a number of end-uses, including
coil, furniture foil and panel coatings, wind energy and general industry
and commercial transport.
The planned transaction is expected to be completed in the second half
of 2016, subject to regular consultation with employee representatives and
satisfaction of certain closing conditions, including receipt of required regulatory approval.
By far the most exciting announcement this year is the proposed
acquisition of Valspar (8) by Sherwin-Williams (3) for approximately
$11.3 billion.
Sherwin-Williams and Valspar have highly complementary paints and
coatings offerings and this combination enhances Sherwin-Williams position as a premier global paints and coatings provider. If all goes accroding
to plan, the combined company would have approximately 58,000 employees and other stakeholders with approximately $15.6 billion in annual
sales revenue.
The proposed acquisition is not without its detractors, however.
Various news outlets are reporting that a shareholder has sued Valspar
Corp. in an attempt to thwart the sale to Sherwin-Williams. The plaintiff,
Tom Mitsopoulos, is seeking class-action status and accused the company of not properly disclosing financial projections and of breaching
their fiduciary duty, according to documents filed with the Securities and
Exchange Commission.
In the SEC documents, Valspar denied the allegations.
Last month, Valspar and Sherwin-Williams issued the following joint
statement: Given the complementary nature of the businesses and the
benefits this transaction will provide to customers, Sherwin-Williams and
Valspar continue to believe that no or minimal divestitures should be required to complete the transaction.
In the coming months it will be intersting to see how it all plays out.
kpianoforte@rodmanmedia.com
A Rodman Media Publication

70 Hilltop Road Ramsey, NJ 07446 USA
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Web site: www.coatingsworld.com
EDITOR
Kerry Pianoforte kpianforte@rodmanmedia.com
VICE PRESIDENT/EDITORIAL DIRECTOR
Tom Branna tbranna@rodmanmedia.com
ASSOCIATE EDITOR
Catherine Diamond cdiamond@rodmanmedia.com
TECHNICAL EDITOR
Darlene Brezinski
ART DEPARTMENT
Michael Del Purgatorio
mdelpurgatorio@rodmanmedia.com
Sara Downing sdowning@rodmanmedia.com
INTERNATIONALCORRESPONDENTS
Sean Milmo (Europe)
Charles W. Thurston (Latin America/Americas)
CONTRIBUTING EDITORS
Phil Phillips Steve McDaniel
EDITORIALADVISORYBOARD
Jim Berry (Berry Environmental)
Joseph Cristiano (consultant)
Thomas Frauman (consultant)
Joseph Prane (consultant)
Isadore Rubin (consultant)
Richard M. Tepper (PPG Industries)
Shelby F. Thames (University of So. Mississippi)
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Rodman J. Zilenziger, Jr.
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Matthew J. Montgomery
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6 | Coatings World www.coatingsworld.com
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As We Go To Press
PPG to Acquire Global Coatings Services

Provider MetoKote
PG has announced that it has

reached a definitive agreement to
acquire MetoKote Corporation
and its affiliates. MetoKote is a U.S.based coatings services business with
2015 global sales of approximately $200
million. The transaction is expected to
Index to Companies
This index gives the starting page for
a department or feature with a significant reference to a manufacturer of
paint, coatings, adhesives and sealants
Subsidiaries are indexed under their
own names.
close in the third quarter 2016, subject to

customary closing conditions. Financial
terms were not disclosed.
MetoKote is headquartered in Lima,
Ohio, and has more than 1,500 employees. MetoKote applies coatings to
customers manufactured parts and
assembled products. It operates on-site

coatings services within several customer
manufacturing locations, as well as at
regional service centers, located throughout the U.S., Canada, Mexico, the United
Kingdom, Germany, Hungary and the
Czech Republic. Customers ship parts to
Flugger Group ...............................44
Pachin............................................44
Fujikura Kasei ...............................44
Pacific Paint Boysen........................44
Grebe Group .................................44
PaintSolutions................................10
H.B. Fuller ....................................44
Pidilite Industries............................44
Hempel ............................. 10, 40, 44
Pintuco...........................................44
Henkel ..........................................44
PPG.......................... 8, 10, 28, 40, 44
ICA Group ....................................44
Renner Saylerlack...........................44
3M ................................................44
Industrias Titan .............................44
Ring International Holdings...........44
AB Wilh. Becker ............................44
Jotun .............................................44
Rock Paint.....................................44
Ace Paint .......................................44
JW Ostendorf ................................44
RPM International................... 10, 44
AkzoNobel .......................... 8, 40, 44
Kansai Paint ..................................44
Russian Coatings............................44
Asahipen .......................................44
Kapci Coatings ..............................44
Samhwa Paints Industrial...............44
Asian Paints ..................................44
Karlworwag Lack-Und Farbenfabrik.44
Shanghai Coatings..........................44
Atomix ..........................................44
Kayalar Kimya...............................44
Shawcor.........................................44
Axalta........................ 10, 28, 44, 114
KCC...............................................44
Sherwin Williams..................... 10, 44
BASF Coatings .................... 8, 10, 44
Kelly-Moore...................................44
Shinto.............................................44
Benjamin Moore ...........................44
Kikusui Chemical...........................44
Sika.......................................... 10, 44
Berger Paints .................................44
Kunsul Chemical Industrial............44
SK Kaken.......................................44
Betek Boya ....................................44
Looser Holding..............................44
Sniezka Woj....................................44
Boero Group .................................44
Lord...............................................44
Taiho Paint.....................................44
Brillux ...........................................44
Mankiewicz....................................44
Tambour........................................44
Carpoly .........................................44
Masco............................................44
Teknos Group................................44
Chugoku Marine ...........................44
Cromology.....................................44
Tiger Coatings................................44
CIN ...............................................44
Meffert AG Farbwerke...................44
Tikkurila Oyi........................... 40, 44
Cloverdale Paint ............................44
MIDO Coatings.............................44
Tnemec Company.................... 28, 44
Dai Nippon Toryo .........................44
Musashi Paint................................44
TOA Group....................................44
DAW .............................................44
National Paints Factories...............44
Tohpe.............................................44
DuluxGroup ..................................44
Natoco...........................................44
Valspar..................................... 10, 44
Diamond Vogel .............................44
Nihon Toksuhu..............................44
WEG Tintas...................................44
Dunn Edwards ..............................44
Nippon Paint..................................44
Whitford Corporation.............. 10, 44
Emplis ...........................................44
Noroo Paint...................................44
Yasar .............................................44
Ennis-Flint .....................................44
Origin Electric................................44
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BASF Breaks Ground on

New Automotive Coatings
Plant in Shanghai
BASF broke ground on a new, worldscale automotive coatings plant, at the
companys existing site at the Shanghai
Chemical Industry Park in Caojing,
Shanghai, China. The new plant represents an investment of around 140 million, and is expected to start operation in
the fourth quarter of 2017. As the latest
investment of the joint venture between
BASF and Shanghai Huayi Fine Chemical
Co., Ltd, the new plant is an expansion
of the automotive coatings plant, which
began production in 2014.
With the expansion, we continue
to invest in local production to closer
align with Chinas automotive industry,
said Dr. Stephan Kothrade, president
and chairman Greater China, BASF. As
the leading chemical supplier to the automotive industry, BASF takes an active
role in developing this rapidly growing
business, based on our local production
network, innovative power and market
knowledge.
Our automotive OEM customers in
China increasingly look for innovative,
eco-efficient coatings solutions to drive
sustainability in their processes. Adding
world-class manufacturing and R&D
capabilities in the country is our contribution to the rapidly evolving expectations of the automotive industry, said
Dr. Markus Kamieth, president, Coatings
Solutions, BASF. This new investment in
China is another example of our ongoing
growth strategy in this region and in our
automotive coatings business.
We have been investing in parallel
with the growth of the automotive industry, strengthening our presence where
our customers are located. Further investment into China reflects our strong
commitment to our customers in order
to provide faster and more efficient solutions that support their business growth,
said Peter Fischer, senior vice president,
Coatings Solutions Asia Pacific, BASF.
In addition to this new plant, BASF
also operates a production facility for
resins and electrocoat at the same location. The close proximity of these plants
allows for more synergies and efficiency.
AkzoNobels Methodology
for Sustainable Ship Owners
Wins Environmental Award
AkzoNobels pioneering methodology
for rewarding ship owners who use sustainable hull coatings has been named
Environmental Leader Product of the
Year for 2016. The award recognizes the
introduction of the shipping industrys
first carbon credits methodology, which
was developed by the companys Marine
Coatings business.
Launched in 2014 in conjunction
with The Gold Standard Foundation
and Fremco Group, the scheme is based
on ship owners converting existing vessels from a biocidal antifouling system
to a premium, biocide-free hull coating
such as Intersleek, part of AkzoNobels
International range of marine coatings.
July 2016 www.coatingsworld.com
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As We Go To Press
MetoKote service centers, where they are

treated to enhance paint adhesion and
painted with electrocoat, powder or liquid coatings technologies. Coated parts
are then shipped to the customers next
stage of assembly. MetoKote coats an average of more than 1.5 million parts per
day.
This acquisition will help us to better understand and meet our customers critical coatings requirements, said
Viktor Sekmakas, PPG executive vice
president. We are responding to customers requests to streamline the purchasing,
delivery and application of coatings by
adding MetoKotes capabilities to PPG.
This will simplify our customers operations, enabling them to focus on their
core competencies of product design and
manufacturing. Having a more intimate
understanding of our customers coatings needs will help us to offer enhanced,
end-to-end solutions and services going
forward.
Sekmakas added, MetoKote is a leader in coatings services. Its size, breadth of
capabilities and geographic reach complement PPGs technology and regional
customer base. With this acquisition, we
will be able to deliver process efficiency
and streamline coatings operations for
our customers, helping to drive a new era
of innovation.
The methodology financially

rewards ship owners for using
sustainable hull coatings that
improve operational efficiencies
and reduce emissions. This is reflected
in the awards success, which specifically
recognizes the role of the initiative in improving environmental and energy management in the shipping industry, while
delivering bottom line benefits to those
who participate.
Commenting on the companys award,
the judging panel said: Intersleek is a
great technology to help reduce greenhouse emissions from the shipping industry, and the carbon credits methodology
will help incentivize ship owners to adopt
it. This could be a very impactful initiative, leading the industry towards sustainable shipping.
Oscar Wezenbeek, managing director of AkzoNobel Marine Coatings,
added: We are delighted that our efforts to support our customers, while
also making an important contribution
to reducing global emissions, has been
recognized. This award shows the impact and relevance of our carbon credits
methodology, not just within the shipping industry, but also in the context of
the wider global sustainability agenda. It
also provides external validation, which
we hope will give ship owners further
motivation to enroll in the scheme.
Earlier this year, Neda Maritime
Agency Co. Ltd., a leading Greek tanker
and bulker owner, became the worlds
first ship owner to be awarded carbon
credits through AkzoNobels landmark
scheme. The company received a total of
13,375 carbon credits potentially worth
around $60,000.
Each carbon credit accrued represents the avoidance of one ton of
CO2 being emitted to the atmosphere,
meaning that Neda Maritime has offset a total of 13,375 ton of CO2 from
its business.
Environmental Leader is a leading
daily trade publication covering energy,
environmental and sustainability news.
The award was presented to AkzoNobel
during the recent Environmental Leader
Product & Project Awards ceremony held
in Denver in the U.S. CW
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6/27/16 10:17 AM
Fresh Paint
Axalta Opens Expanded Technical Center

in Wuppertal, Germany
xalta Coating Systems recently opened its newly expanded

European Technology Center
(ETC) in Wuppertal, Germany. The center will be home to the companys liquid
coating research facilities for the Europe,
Middle East and Africa (EMEA) region.
Axalta is making this considerable
investment in its EMEA research and
development facilities to expand, to upgrade and to centralize our technological capabilities to support our growth
in the region, said Matthias Schnberg,
vice president of Axalta and president
of EMEA. The origins of our company
can be traced back to the Wuppertal
site, where paint production first began
150 years ago. Today, over 300 technical professionals will work on creating
and developing next generation paints
and services to address regional market
needs and to meet our customers specific
requirements.
The ETC will comprise facilities that
house the latest coating research equipment. The entire campus encompasses
15,000 square meters of laboratories,
formulation and application capabilities,
a weathering and corrosion service, pilotscale and full scale-up facilities, customer
demonstration center, as well as offices.

Dr. Barry Snyder, Axaltas senior
vice president and chief technology officer, said, Axaltas expanded ETC in
Wuppertal will include several new labs
for light vehicle paint research, new
laboratories for industrial electrocoat
research, as well as expanded labs for
refinish paints and new color development facilities for both the refinish and
commercial vehicle markets. Its central
location for Europe, and historical importance to the company as a whole,
make it the ideal base for regional liquid
paint research and development work.
Axalta has taken a strategic approach
in expanding and enhancing its global
coating research and development capabilities, with recent announcements of
new technology centers to be constructed in North America and Asia Pacific.
The company is constructing a Global
Innovation Center in Philadelphia,
Pennsylvania, which will be the hub of
its worldwide technology network, and
a new technology center in Shanghai,
which will support technology applications across the Asia Pacific region. In
EMEA, Axaltas powder coatings technology hub is in Montbrison, France, on
the campus of its powder manufacturing

facility.
RPM Acquires Leading U.S.

Manufacturer of Concrete
Care Coatings and Sealants
RPM
Internationals
Rust-Oleum
Corporation subsidiary has acquired
Seal-Krete, a leading U.S. manufacturer
of concrete care coatings and sealants for
the retail market with annual net sales in
excess of $10 million. Terms of the transaction, which is expected to be accretive
to earnings within one year, were not
disclosed.
Seal-Krete, formerly a division of
Clayton Valve, manufactures a complete line of priming, painting, sealing
and finishing products for maintaining
and decorating concrete, masonry, brick
and pavers. Its products are sold primarily through home improvement
centers, as well as through independent
hardware and paint stores. Among its
leading brands are Seal-Krete Original,
Damplock, Epoxy-Seal and Clear-Seal.
The acquisition of Seal-Krete expands Rust-Oleums range of concrete
care products. Complementing our existing EpoxyShield and RockSolid lines,
Seal-Krete will allow us to offer a complete one-stop-shop for concrete care,
stated Frank C. Sullivan, RPM chairman
and chief executive officer. We expect to
grow Seal-Krete by leveraging its products across the Rust-Oleum distribution
network.
Matrix Coatings to Join the

Whitford Recommended
Coater Program
Whitford president David Willis recognized Matrix Coatings Corp. as a member
of the Whitford Recommended Coater
(WRC) program and awarded a plaque
to Matrix president Larry Sloan at the
Whitford Worldwide headquarters. Willis
commented, We are pleased to recognize Matrix as a Whitford Recommended
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Coater and commend them for

the excellent service they provide
to our industry.
The Whitford Recommended
Coater program recognizes custom coaters who meet certain criteria. Among
the standards that need to be met are:
knowledge of Whitford coatings and experience in applying them, completion
of a Whitford training course held at the
Whitford Worldwide headquarters and
having solid quality assurance procedures
in place.
PPG Foundation Donates

$2,500 to Betty Brinn
Childrens Museum
The PPG Foundation recently donated
$2,500 to the Betty Brinn Childrens
Museum in Milwaukee to underwrite
workshops promoting hands-on science,
technology, engineering, arts and math
education. The grant was made on behalf
of PPGs industrial coatings facility in
Oak Creek, Wisconsin.
We are grateful to the PPG

Foundation for supporting our commitment to expand maker experiences that
promote science, technology, engineering,
arts and math education, said Kristen
Adams, chief advancement officer for the
Betty Brinn Childrens Museum. Makerbased learning is particularly meaningful for young children who are learning
new skills and are experimenting through
hands-on experiences. Our Be A Maker
programs are now among the most popular family activities that we offer.
The PPG Foundation grant supported
maker-based winter workshops conducted twice a day over six days this past
December. More than 1,400 visitors participated in a range of projects that used
real tools and materials as well as digital
resources and technologies to encourage
participants to acquire new skills, collaborate and share what they learned.
At PPG, we believe it is very important to expose youth in our communities to the opportunities and excitement
of science, technology, engineering, arts

and math education, said Jack Marshall,
PPG plant manager at the Oak Creek
facility. It is equally important to help
adults understand how focused activities
like those in the winter workshops help
prepare children to become accomplished
students and productive adults.
Valspar Completes
Upgrades to Automotive
Training Center in Texas
Auto refinish technicians and distributors who attend classes at Valspars
Automotive Training Center in Grand
Prairie, Texas will benefit from a state-ofthe-art learning environment thanks to
an extensive renovation.
The facility received a complete
makeover, with remodeled classrooms,
expanded color mixing room, upgraded
spray booth, a new cafeteria and the latest in digital media.
Our goal is to provide the best training in the industry, and this ultra-modern
KRISTIN REDMAN
Enterprise
Account Manager
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France; and Lelystad, The Netherlands.

The sites have hosted thousands of painters from all segments of the industry
looking to improve their craft. Collisionrepair specialists, color-match experts,
custom painters and airbrush artists all
have benefitted from Valspar Automotive
training.
Axalta Coating Systems

Earns Daimler Supplier
Award
Axalta Coating Systems was among ten
suppliers honored by Daimler AG for
outstanding performance during the past
financial year with the 2015 Daimler
Supplier Award. A leading global supplier
of liquid and powder coatings, Axalta
was awarded in the Global Procurement
Trucks and Buses category for the supply
of top quality painting materials.
The Daimler Supplier Award honors
suppliers for above-average performance
and partnership collaboration at an annual event. Performance is measured
Fresh Paint
facility gives us the learning environment

to deliver that along with our expert
staff, said Pete Willman, sales director
branded coatings, Valspar Automotive
North America. Students will come
away with a comprehensive education on
the Valspar paint process, giving them the
skills necessary to enhance the quality and
productivity of their refinish operations.
The centers training curriculum,
which is approved by the I-CAR Industry
Training Alliance, includes both theory and practical workshops and gives
students hands-on experience in the
preparation booth, spray booth and stateof-the-art color mixing room. Courses
cover a wide range of skills, from basic
workshop and color skills to advanced
programs, using Valspars trusted brands
Valspar Refinish, DeBeer Refinish,
Prospray, Matrix and House of Kolor.
In addition to Grand Prairie, Valspar
has five Automotive Training Centers
around the world: Massillon, Ohio; Gold
Coast, Australia; Rome, Italy; Lyon,
in terms of quality, cost, reliable delivery and innovative

strength. The partnership between Daimler and its suppliers
is based on trust and open communication. It is a relationship that also includes
the observance of sustainable business
practices, which are intended to create
incentives for suppliers to improve on
a continuous basis in existing and new
markets.
Dr. Mark Soucek to Receive

Roy W. Tess Award in
Coatings
Dr. Mark Soucek, a professor in the
Department of Polymer Engineering at
The University of Akron, will be awarded
the Roy W. Tess Award in Coatings by
the American Chemical Societys Division
of Polymeric Materials: Science and
Engineering (PMSE).
Recipients of the Tess Award,
which recognizes outstanding individual achievements and noteworthy
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Coatings World | 13
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contributions to coatings science, technology and engineering, are presented with $3,000
and an engraved plaque. The
30th Tess Award will be presented to
Soucek at the Fall ACS Meeting in in
Philadelphia, Pennsylvania. The meeting is being held in conjunction with a
symposium and an evening reception to
honor Soucek and other award winners.
During Souceks career in the field of
polymer coatings, he has made significant scientific contributions to the field,
pioneered innovations and trained students in cutting-edge coatings technology.
Many of those students are now leaders
in the field.
Recognized as one of the leaders in
drying oil technologies, especially with
regard to bio-based feedstocks, he has
published more than 25 scientific papers in that area. He also was a major
contributor to the renaissance of alkyd
technology. He is among the leading authorities in reactive diluent technologies,
replacing VOCs with solvating biobased liquids that dissolve the polymeric
binder and then participate in the film
formation by reactive crosslinking into
the coating.
Souceks research contributions have
twice been recognized with the Roon
Award, once for his work with thermosetting latexes and also for developing a
new class of alkyd coatings. He was the
recipient of the inaugural Gordon Award
by the Coatings Tech Conference in 2000,
and he was selected as a Gordon Award
finalist for his work in UV-curable biobased polymers in 2003.
In 2004 and 2005, Soucek received
honorable mention for the Gordon
Award for his core-shell latex work and
UV-curing of unsaturated polyesters. Also
in 2004, he was awarded the Innovation
Award by Radtech (the European association for UV/EB technology) for his
work in UV-curable coatings. Soucek
received The Society for Protective
Coatings Editors Award for his work
Self-Stratifying Corrosion Resistant

Coatings, and has published more than
150 peer-reviewed technical papers on
coating science, 15 book chapters.
Soucek, who has 15 issued U.S. patents and pending patent applications,
also is a member of the faculty steering
committee of UAs National Center for
Education and Research on Corrosion
and Materials Performance.
Sherwin-Williams
Announces 2015
ProVisions Vendor Award
Winners
Sherwin-Williams, through its Product
Finishes Division, announced five winning
business partners of its seventh annual
ProVisions Vendor Awards at an appreciation program at Disneys Contemporary
Resort in Orlando, Florida.
The ProVisions Program augments
Sherwin-Williams industry-leading wood
and general industrial market coatings
and programs by offering OEMs and job
July 2016
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nexeo_coatings_world_ad_CASE_jul_2016_v6_hires_final.pdf
6/22/16
5:43 PM
Where Technical
Expertise Meets
Product Ingenuity
Whether you need a specialty chemical or an
enhanced blend, our connection to the industry's
top producersalong with our technical team,
analytics lab, and formulation servicesmakes
Nexeo Solutions your single source for all your
paints and coatings chemical needs.
Resins
Pigments
Solvents
Inorganic
chemicals
Blends
Additives
Functional
llers
Chemical
intermediates
Full coatings
lab services
Contact us for your solution.

Customer Service
1.800.531.7106
Analytical & Testing Services:
281.982.9447
www.nexeosolutions.com
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shops more than 10,000 brandname finishing process items

such as test, safety and spray
equipment, tools and abrasives.
Two partners Filtration Group Finishing and Mirka USA earned the top
honor of Vendor of the Year. Filtration
Group Finishing is a provider of consistent and seamless filtration solutions.
Filtration Group develops programs for
Sherwin-Williams that help customers
with a wide range of filtration needs, including filter spray booth programs and
spray booth floor protection. Mirka USA
is a leading provider of coated, non-woven and specialty abrasives. Mirka USA
provides marketing and field sales support to Sherwin-Williams as well as the
right abrasive solutions to customers.
The Field Sales Support Award went
to Hi-Lite Solutions. Hi-Lite, an ecofriendly cleaning product manufacturer,
introduced a new cleaning product,
AEROGREEN 4175, to support the
Sherwin-Williams Ultra-Cure line of UV
cure products in 2015.

Engineered Products and Services,
Inc. (EPSI) took home the Marketing
Excellence Award. EPSI offers a core
masking solution program that includes training, sales tools and sales
call support.
Winner of the Facility Support Award
was Burns Industrial Equipment, which
delivers a broad product offering and
custom recommendations to cover specific needs of product finishing facilities.
These key partners, along with
the many others that comprise our
ProVisions program, are focused on
helping our customers develop innovative solutions that ultimately help
grow their businesses and their bottom
lines, said Laura Kelleher, SherwinWilliams Product Finishes Division,
vice president marketing, North
America. Through a team effort, the
ProVisions program continues to grow
and add value to Sherwin-Williams
customers.
PPG, NATM Honor CAM

Superline with 2016 Green
Manufacturing Award
The PPG commercial coatings group
and the National Association of
Trailer Manufacturers (NATM) honored CAM Superline with the 2016
Green Manufacturing Award. Based
in Waynesboro, Pennsylvania, CAM
Superline manufactures dumper trailers for the construction and excavating
industries. The award was presented to
company president Sandy Poffenberger
at the 28th annual NATM national convention and trade show held in Las Vegas,
Nevada.
The Green Manufacturing Award
honors the NATM member with the
years best solution or innovation that
has a positive impact on the environment. This may include improvements in
material utilization, design advancement,
process or equipment enhancements,
emissions reductions, recycling methods and other environmentally sensitive
July 2016
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Results of Paint Contractor/U.S. Architectural Coatings Industry Research Report

Which Compared Business Trends in 2Q16 vs. 2Q15
Each quarter, Northcoast Research surveys a large sample of
paint contractors to get a sense for current business trends while
Specialty Chemical Sales provides insight into coatings raw material trends. Please note that of the three primary architectural
paint channels (paint stores, home centers, and independent
distributors), the contractor survey results are largely a proxy for
the paint store channel. For inquiries regarding the results of the
survey please contact Kevin Hocevar at 216-468-6924 or kevin.
hocevar@northcoastresearch.com. For inquiries regarding raw
materials please contact Dave Kotowski at 216-577-1982 or
dkotowski@specialtychemicalsales.com.
Contractor Sales Positive Trends Continue in 2Q16
The cumulative responses to the question of How do your
sales in April, May and thus far through June of 2016 compare
to your sales during the same time period last year, show that
the market appears to have grown solidly from the prior year, as
was the case in 1Q16. 68% of contractors experienced a higher
level of sales thus far in 2Q16 compared to 2Q15. A mere 16%
of contractors described their sales as Flat, while 16% experienced a year-over-year sales decline in the period. These metrics
produce a net increase (percent of contacts who experienced
higher sales in the period minus the percent of contact who experienced lower) of 52%, which we believe is highly encouraging
for the industry and indicative of the paint season being off to a
good start. Sales for contractors thus far in 2Q16 have grown at
an average of 6%.
Price of Paint from Suppliers 2Q16 Paint Prices Remain
Flat
In order to get a gauge for the pricing environment surrounding the paint contractors, we asked a few questions related to
said topic. At 86%, most contractors have not received any news
of a price increase from their suppliers. This is in-line with our
expectations, as we also have not heard of price increases from
any manufacturer contacts. As you can see, contractor expectations for any sort of price increase are very low. Only 11% have
received notice of a price increase and expect it to stick for the
full amount, while 3% expect the increase they received to stick
for Less than the Full Amount. While pricing may be imple-
mented in some small regional areas, we do not believe pricing

is much different industry wide than it was in 2015.
Raw Materials Pricing and Supply Update
Tio2 has had a significant upward bounce off an inflation adjusted historic low price in early 2016. Chinese producers have
pushed the envelope and garnered up to a $300mt cumulative
increase during the first half of 2016. A couple of the major
chloride producers have struggled to meet delivery dates during 2Q16. Most domestic consumers have received increases
exceeding $.10lbs. Ore suppliers have jumped on the price increase bandwagon, raising this key Tio2 raw material from $7585mt to $120-130mt during 2Q16. I am betting there are more
increases coming on our cherished white pigment. As I write
this article, crude oil is up off its low of $29 per barrel to $49 per
barrel. This 69% increase will be reflected in much higher prices
on hydrocarbon solvents, paraffinic oils, naphthenic oils and
other direct and indirect downstream raw materials based on
crude oil. Diatomaceous earth supply issues have hit our radar.
This key low cost matting pigment is primarily used in architectural coatings. The two key domestic suppliers have extended
lead times and are struggling to keep up with demand. Other
mined minerals are tight as well due to strong seasonal demand
exceeding short term capacity.
3-Month Outlook Outlooks Remain Solid So Far in 2016
At 78%, the vast majority of contractors believe that business
trends are improving/will improve over the coming months.
Again, it goes without saying that this is encouraging as we
head into the back half of the paint season. At 17%, the next
most common response was neutral, or that business trends will
stay about the same. We do not view a Neutral response as
necessarily a bad thing, as the survey average sales growth in
the quarter as mentioned above is 6% which represents solid
growth. Only 5% of contractors have a negative outlook and
expect business trends to decline. In asking this question, we
attempt to gauge actual expectations for the coming months
based on how business has been trending as of late and based
on leading indicators such as contractor backlogs, bidding activity, and any other relevant factors.
Y/Y Net Sales Increase
Average Sales Increase
% Who Received Price

Increase
Net % Positive
Outlook
Northeast
50%
4%
0%
44%
West
45%
6%
14%
82%
South
67%
8%
8%
83%
Midwest
57%
5%
19%
76%
July 2016
6/27/16 9:44 AM
NATM executive committee.

We at PPG believe that we have a responsibility to minimize the impact of our
operations on the environment, Yarnell
said. When we see a company like CAM
Superline make significant improvements
in the way it works, and those improvements benefit the environment, then we
know our commitment and our investment in the Green Manufacturing Award
is the right thing to do.
Yarnell also pointed out that the
Green Manufacturing Award has become
the trailer industrys most important annual charitable event. This year, several
trailer-related companies Optronics
International, Dexter Axle, the Carlstar
Group and Champion Hoist joined major sponsor PPG in supporting the award.
The NATM represents manufacturers
of light- and medium-duty trailers as well
as a wide range of suppliers to the industry. The organization promotes universal
recognition of safety and quality in trailer manufacturing to the trailer industry
AC T
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areas. CAM Superline earned the 2016

award by adopting several green technologies and practices that reduced both
its impact on the environment and its
costs. With the noted changes in its operations, CAM Superline earned the 2016
Green Manufacturing Award. A cash gift
that the winner may donate to a charitable organization is part of the award.
CAM Superline chose St. Judes Research
Hospital, based in Memphis, Tennessee,
which is one of the worlds premier centers for research and treatment of catastrophic diseases in children.
Ron Yarnell, PPG OEM sales manager, states that the Green Manufacturing
Award was established to encourage
NATM members to implement ecologically sound programs. Award contenders
must present case studies that demonstrate improved, ecologically conscious
performance in their operations. Entrants
are also required to provide documentation of the green initiatives they have
implemented. Entries are judged by the
and the general public. NATM

works to improve the trailer industry through the promotion of
compliance with its guidelines
and other initiatives. The association has
more than 800 member companies in the
United States, Canada, Mexico and other
countries.
Axalta Coating Systems,

Ducks Unltd. Announce
First Project, Solidifying
Multi-Year Relationship
Axalta Coating Systems and Ducks
Unlimited, the world leader in wetlands
and waterfowl conservation, have jointly
announced that restoration work on the
Anahuac National Wildlife Refuge is the
first conservation project reinforced by their
partnership. This project marks the first of
many cooperative ventures as part of a $10
million conservation program supported by
Axalta over the course of five years.
The announcement occurred in
Houston, Tezas where leaders from
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Axalta and Ducks Unlimited

were joined by members of the
community, including representatives from A&A Coating,
Inc., a Texas-based leader in the oil and
gas pipe coating industry and an Axalta
customer.
Today is an exciting day for Ducks
Unlimited and Axalta as we commit
to the restoration and enhancement of
300 acres of managed, freshwater wetlands, said Ducks Unlimited CEO Dale
Hall. With Axaltas generous support,
we can continue our work to improve
habitats for waterfowl and other migratory birds, while making significant progress toward our Rescue Our Wetlands
campaigngoals.
The Gulf Coast is a priority landscape

for Ducks Unlimited. The coastal prairies and marshes of Texas and Louisiana
winter up to 15 million waterfowl each
year and serve as nurseries for commercially and recreationally important fisheries. Working with the U.S. Fish and
Wildlife Service, Ducks Unlimited will
add water control structures and earthen
levees to facilitate better habitat management on this public-access refuge outside
of Houston. The work on the Anahuac
National Wildlife Refuge will begin as
soon as site conditions allow.
We are proud to be a part of the work
that Ducks Unlimited and Axalta are doing to protect our environment, especially
here in Texas, said Robert Langbartels,
general manager of A&A Coating, Inc.

Axalta and A&A Coating share a strong
bond. Our companies care deeply about
preserving the environment and value the
great work that Ducks Unlimited does
to protect and restore that environment.
This is also a great project for our employees who will be able to benefit from
the restoration of the Anahuac National
Wildlife Refuge right here in Texas.
Thousands of Axalta employees
around the world are deeply passionate
about conservation, from the impact of
our coatings to participating in making
the products we paint last longer to our
environmentally responsible manufacturing processes, said Mike Cash, president
of Axaltas Industrial Coatings business.
Company Profile: PaintSolutions

PaintSolutions is a California-based niche paint company offering high quality coatings for use on Hollywood sets.
John Jilek is president of Inksolutions, a Chicago-based company selling ink vehicles, overprint varnish and additives to the
lithographic ink maker. The company was founded in 2001 and
has ten employees at its facility. Several years ago, the company
was looking for a building in Los Angeles.
We bought the Muralo (Norton & Sons) building in
Commerce, California in 2005, said Jilek. They moved back
to Bayonne New Jersey, so we took over the toll manufacturing of their West Coast products which included Spackle,
Synkoloid patch and repair products and various paints. In
2007 they pulled out completely, so we took over their line,
with the right to manufacture, market and distribute their
product lines west of the Rockies. Last year they sold their
company to California Products. They did not want the Synkoloid product line, so we bought that. We now own the
Synkoloid brand.
With this as a base, Jilek remarketed the patch and repair
line, introduced SYNKO Cem-Bond, Floor & Patio paint and
SYNKO Universal Colorants, which are used in Hollywood for
artists designing sets and formed PaintSolutions.
Last year we introduced three lines of acrylic house paints,
which are being sold in the Los Angeles area, Jilek added. We
also sell paint for the background sets in Hollywood. This year
we introduced: a line of primers, a traffic paint and several specialty paints.
PaintSolutions has 10 employees in the Commerce, California plant, which produces: lithographic printing ink vehicles and
overprint varnishes, carbon black dispersions for litho inks and
paints and paste products for the paint market. The company
recently introduced a line of traffic marking paint.
From a business
development
standpoint, coming from the
ink industry, Jilek had
an advantage entering
the paint market. The
two industries are very
similar. Both industries
are dominated by large
international
companies, leaving the smaller
independent companies to be creative and stay ahead of the
game, said Jilek. Both of our companies cater to the independent companies, with creative products, new research, top
quality and dedicated attention to each customer.
PaintSolutions product line includes acrylic paints and paste
products such as: SYNKNO, CEM BOND, SYNKOLOID patch
and repair products, DECRASOL premium 100% acrylic paint,
PERMASOL professional grade paint and DURASOL acrylic
paints and primers.
PaintSolutions success as a smaller niche company can be
attributed to superior customer and technical service. We are
dedicated to the customer, said Jilek. We have excellent technical abilities, but we are not bogged down in bureaucracy. We
make decisions quickly and respond to our customers needs.
PaintSolutions plans for the future are to continue offering
a quality products and technical support to its customers in the
California area.
Many companies are sacrificing quality for profit, said
Jilek. We are making paint the way it was made 20 years ago
high quality paint. The painters, our customers customer, have
thanked us for staying in California and supporting them with
the paints that they need.
July 2016
6/27/16 9:44 AM
from trucks and buses to ATVs and construction equipment. Coatings also protect oil and gas pipelines from corrosive
underground environments.
Hempel Launches the

Trusted Asset Protection
Survey (TAPS)
Global coatings supplier Hempel has
launched the Trusted Asset Protection
Survey (TAPS) Digital Application in
North America.
The cost of corrosion in North
America has been estimated at over $3
billion annually, and failing to have an
overall maintenance plan will only increase this expense.
Hempel has developed the Trusted
Asset Protection Survey (TAPS) interactive tool for the iPhone and iPad to facilitate coating condition surveys in a
more dynamic, interactive and efficient
way for its customers; allowing Hempel
to help the corrosion industry and its customers reduce maintenance costs while
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We have partnered with A&A Coating

and Ducks Unlimited because they share
that same commitment to conservation
and to taking the leadership roles needed
to conserve and restore our natural resources. All of us at Axalta are as proud
of our ability to support the important
work that Ducks Unlimited does to sustain and protect the environment as we
are of our ability to help sustain and protect the products that great customers like
A&A coat every day.
A major developer, manufacturer, and
seller of industrial coatings in the United
States and in 130 countries around the
world, Axalta makes protecting and conserving natural resources a corporate
priority. Sophisticated technology is used
to produce coatings in sustainable and
responsible ways, enabling Axaltas customers to save energy and reduce carbon
(CO2) and volatile organic compounds
(VOC) emissions.
Axaltas colorful coatings can be seen
on cars and commercial vehicles ranging
extending the life of their assets.

North America marketing
director, Jose Luna, said, This
launch is an important milestone
in our Journey to Excellence Strategy, where
we have committed to supporting continued growth in the maintenance market.
Traditionally, Hempel has taken more
time to deliver final coating recommendations to its customers because surveys
were administered manually. The overall
condition survey focuses on giving the
asset a coating and corrosion condition
status to help spot potential problems,
minimize risk and prioritize the areas
that need to be considered first for maintenance. Hempels trusted coating advisors and sales representatives safe and
reliable recommendations help its customers focus and plan on where to allocate operational expenses to conserve the
performance and aesthetic appearance of
their holdings.
While further commenting on the
TAPS launch, Jose Luna stated that, We
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6/27/16 9:44 AM
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have developed this tool to assist

our customers in the reduction
of their maintenance costs by focusing on the long-term protection of their important assets.

More than $10,000 to Oak
Creek Franklin Joint School
District
a combined $10,600 to the Oak Creek
Franklin Joint School District in Oak
Creek, Wisconsin, to support a robotics
competition team and the purchase of 3D
printing equipment. The two grants were
made on behalf of PPGs local industrial
coatings facility.
We thank the PPG Foundation for
helping our students experience engineering firsthand in a fun and engaging
manner, said Leo Alvarez, a teacher in
the Oak Creek Franklin Joint School
District. For many, this is an opportunity to work alongside engineers and
programmers.
A PPG Foundation grant for $8,500
is supporting a new FIRST Robotics
Competition team at the high school. The
students are building and programing
an industrial-sized robot and competed
against other high school students from
around the region March 24 to 26 in
Milwaukee.
The second grant for $2,100 helped

fund the purchase of a 3D printer and
scanner for sixth- through eighth-grade
students. The equipment enables students
to use the designs they create as part of
the districts Project Lead the Way preengineering curriculum to make actual
parts.
We believe it is important to expose students to real-world science
and technology applications, and these
two projects do so in a very engaging,
hands-on manner, said Jack Marshall,
PPG plant manager at the Oak Creek
facility. PPG is very proud to support
both.
PPG Aerospace Coatings Recreate Historic Paint Schemes for Coast Guard Aircraft
Advanced aerospace military coatings by PPG were used recreate historic paint schemes for repainted aircraft commemorating U.S. Coast Guard aviations 100th anniversary. Thirteen
helicopters comprising three types HH-52A, MH-60 and
MH-65 and two HC-144 search-and-rescue fixed-wing airplanes have been repainted in a visual retrospective celebrating the centennial.
High-solids DESOTHANE HS/CA 9800 military advanced
performance topcoat used on the helicopters provides a buffable high-shine finish with excellent gloss and image reflection, lower weight and long-term durability for exceptional color
and gloss retention. Desothane HS/CA 8201 military topcoat
achieves the special-effects metallic paint scheme for the HC144 airplanes while affording a long-lasting finish. The PPG topcoats have been applied over high-solids DESOPRIME HS/
CA 7233 military epoxy primer on all 15 aircraft, and DEFT
chrome-free primer was also used on the MH-65 helicopters.
According to Duane Utter, PPG aerospace global segment
manager for military coatings and defense products, a PPG
military coatings technical and sales team worked with the engineering and paint manager at the U.S. Coast Guard Aviation
Logistics Center, Elizabeth City, North Carolina, to recommend
coatings that would provide the desired gloss, durability and
ease of application.
PPG coatings offered the performance needed, and we
were awarded the contract, Utter said. Desoprime HS/CA
7233 primer and Deft chrome-free primer provide exceptional
corrosion resistance for the tough environment in which the
Coast Guard flies these aircraft. Desothane HS military topcoats
afford excellent weathering durability so that these special aircraft will keep their appearance for years to come.
Utter said PPG is pleased to be involved in the Coast
Guards aviation centennial celebration. PPG has a long,
successful history as a coatings supplier for U.S. Coast Guard

aircraft, and we salute the aviators for their service in untold
numbers of heroic missions.
July 2016
6/27/16 9:44 AM
BASF was named a General Motors

(GM) Supplier of the Year for 2015 at an
awards ceremony in Detroit.
Wayne T. Smith, chairman and CEO,
BASF Corporation accepted the award,
which BASF has received 11 times since
2002.
GM is an important customer for
BASF and this award signifies the value of
the relationship we have developed over
the years, said Smith. Working closely
with GM colleagues, we integrate modern paint processes with special effect
pigments and technologies to offer car
buyers a wide array of colors and coatings for their vehicles.
We are focused on building positive supplier relationships, bringing new,
customer-centric innovations to GM and
being the OEM of choice among suppliers, said Steve Kiefer, GM vice president,
global purchasing and supply chain. The
companies we recognize not only have
brought innovation, they delivered it with
the quality our customers deserve.
The Supplier of the Year award winners are chosen by a global team of GM
purchasing, engineering, quality, manufacturing and logistics executives and
selected based on performance criteria in
product purchasing, indirect purchasing,
customer care, aftersales and logistics.
administrative and sales personnel.

This latest addition brings the number
of Sika production sites in North America
to 18, four of which are in Canada. As
recently as December 2015 a state-of-theart mortar production facility opened in
Philadelphia to serve the rapidly expanding major cities on the East Coast of the
U.S.
Axalta Coating
Systems Recognized
by General Motors as
a 2015 Supplier of the
Year Winner
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BASF Named a General

Motors Supplier of the Year
Axalta Coating Systems was named a GM

Supplier of the Year by General Motors
during its 24th annual Supplier of the
Year awards ceremony. GM recognized
Sika Opens Fourth Plant in

Canada
Sika has inaugurated a mortars and
concrete admixtures plant in Vancouver.
The new facility is the Groups fourth
in Canada. It will supply the Pacific
Northwest, a region that includes the
major cities of Vancouver, Seattle and
Portland. The new plant marks the continued execution of Sikas supply chain
strategy in North America, the aim of
which is to expand production capacities in conurbations and major cities.
The new facility in Vancouver includes
a modular mortar plant and blending
equipment for the production of a wide
range of concrete admixtures. In addition
to the production area, the new building also houses a quality control laboratory, a warehouse and office space for
Coatings World | 23
6/27/16 9:44 AM
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110 of its best suppliers from 17

countries who consistently exceeded GMs expectations, created outstanding value, or brought
new innovations to the company.
We are focused on building positive supplier relationships, bringing new,
customer-centric innovations to GM,
and being the OEM of choice among
suppliers, said Steve Kiefer, GM vice
president, global purchasing and supply
chain. The companies we recognize tonight not only have brought innovation,
they delivered it with the quality our
customers deserve.
The number of suppliers to receive the
award in 2015 represents a nearly 40 percent increase in the number of suppliers
honored in 2014 and constitutes the largest number of winners recognized in any
year since the Supplier of the Year award
debuted in 1992. More than half of the
suppliers are repeat winners from 2014.
This is the fifth time Axalta has received
the award.
Winning suppliers were chosen by a
global team of GM purchasing, engineering, quality, manufacturing, and logistics
executives and selected based on performance criteria in Product Purchasing,
Indirect Purchasing, Customer Care and
Aftersales, and Logistics.
Sika Acquires LM Scofield

in the U.S., Accelerates
Growth Strategy in North
America
Sika has acquired L.M. Scofield, a U.S.based market leader in the production of
concrete color additives for ready-mixed
concrete, along with decorative products

and treatments for concrete refurbishment. Scofield offers a comprehensive
range of color solutions to serve customers in the fast-growing decorative
concrete market of North America, and
generated sales of CHF 17 million in
2015.
Based in Los Angeles, California, L.M.
Scofield is a 100 year old, family-owned
company that has long been established
as the number one trusted brand of concrete color additives and decorative products in North America, Sika said. With
two strategic production locations (Los
Angeles, California and Atlanta, Georgia),
L.M. Scofield produces a complete range
of color solution products that are highly
regarded and widely specified even beyond the North American continent.
The acquisition fits with Sikas accelerated growth strategy in North America.
In the past two years the production
footprint for mortars and admixtures has
expanded with the addition of four new
plants in Denver, Atlanta, Philadelphia
and Vancouver the number of factories
in North America now totaling 18. In addition, the acquisition of the mortar company BMI, made in 2015, completed the
supply chain in the dynamic Californian
market.
Christoph Ganz, regional manager
North America: The acquisition of L.M.
Scofield further accelerates our growth
strategy for North America. It provides us
with a proven, industry leader, and a number one brand position in colors for new
concrete and refurbishment. We proudly
welcome L.M. Scofields employees to the
Sika team and are excited about growing

our business together.

$5,000 to Cleveland County
Schools, on Behalf on Fiber
Glass Facility
$5,000 to Cleveland County Schools in
Shelby, North Carolina, to develop a mobile creation and experimentation makerspace for use in district programs. The
grant was made on behalf of the local
PPG fiber glass facility.
Throughout the year, teams of students
in schools throughout the district participate in workshops focused on science,
technology, engineering and math that
build their capacity to compete against
other district teams in various challenges.
The makerspace includes 3-D printing
and laser cutting, both of which enable
students to deepen their experience by
using some of the same tools adult engineers use in their careers.
Hands-on education, such as that
provided by the mobile makerspace,
helps students better understand whats
involved in engineering and other technical careers, said Todd Douthit, PPG
manufacturing manager at the Shelby facility. PPG is proud to be involved with
a program offering applied learning that
helps prepare the advanced-manufacturing workforce of the future.
Axalta Becomes Primary

Sponsor of Dale Earnhardt
Jr.s Digital Platform
Axalta Coating Systems has announced
July 2016
6/27/16 9:44 AM
as voted by the fans. On March 14, it was

announced that Earnhardt Jr. is a finalist for Sports Business Journals 2016
Sports Business Awards for the category
of Best in Sports Social Media.
Sika Establishes National

Subsidiary in Kuwait,
Expanding its Position in
the Middle East
Sika has expanded its position in the
Middle East by establishing a new national subsidiary in Kuwait. The creation
of this 94th subsidiary worldwide marks
a further step forward in the implementation of Sikas growth strategy, which
aims to expand the Groups international
presence to 100 national subsidiaries by
2018.
Kuwaits construction market is set to
grow at a tremendous pace, with investments of just under $30 billion in the focus areas of real estate and infrastructure,
Sika noted. Key construction projects
at the national level include an airport
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that it has struck an agreement with

Dale Earnhardt Jr. to become the primary sponsor of his digital platform. The
agreement is a multi-year partnership and
will encompass his official home page,
www.DaleJr.com; his companys home
page, www.JRMracing.com; his podcast
network, Dirty Mo Radio and all videos
including the popular weekly series JRM
360.
JR Motorsports platforms will also
feature Axalta-related content. Axalta
will be the primary presenter of the Dirty
Mo Radio podcast Listorically Speaking,
which uses fan polling and lists to determine the most memorable moments in
Earnhardt Jr.s racing career. Axalta will
also offer exclusive content to its social
media followers such as inside videos and
imagery.
Earnhardt Jr. has won 26 races including two Daytona 500s, in a NASCAR
Sprint Cup Series career that is now in its
18th season. He is a 13-time winner of
NASCARs Most Popular Driver award
extension and upgrade of the

metropolitan transportation network, which alone account for a
total investment of $13 billion.
The new national subsidiary positions
Sika to supply high-quality concrete admixtures and refurbishment products
directly to customers in Kuwait and to
benefit from the countrys booming construction market. Sika products are already being used in the construction of
a new university and several roadbuilding projects. The Kuwait market has been
serviced from neighboring countries since
2010.
With national subsidiaries in 13
countries, Sika has an extensive local
presence in the Middle East. In Qatar,
where a subsidiary was established in
2013, Sika recently won a mega project. In the first phase of work on the
worlds biggest concrete-reinforced reservoir, more than 350,000 m of Sika
Proof A and Sika Proof P membranes are
being laid for waterproofing. CW
Over 180 years of Industry expertise combined....
Specialty Chemicals Petroleum Products
J. H. Calo Company Inc.

A division of
J. H. Calo
Two respected names in the Coatings Industry have come together
t: 1-800-257-9365
e: paintinfo@recarroll.com
w: www.recarroll.com/paint
Chicago Dallas Dalton Ewing Fullerton Kent
Coatings World | 25
6/27/16 9:44 AM
Market Reports
World Paint & Coatings Demand

to Reach 54.7 Million Metric Tons
lobal demand for paint and coatings is forecast to rise 3.7 percent
per year to 54.7 million metric
tons in 2020, valued at $193 billion, according to a new report, World Paint &
Coatings, from the Freedonai Group.
Advances will be driven by strong economic growth in developing regions,
particularly in the massive Asia/Pacific
market, where robust gains in building
construction activity will boost sales of architectural paint. Suppliers to developing
regions are also expected to benefit from
bright outlooks for manufacturing output
and infrastructure spending, which will
spur sales of industrial coatings used in
the production and upkeep of motor vehicles, furniture, marine vessels, and roads
and bridges.
However, analyst Carolyn Zulandt
found that overall gains will be limited
by the increased use of higher quality
coatings and more efficient application
processes in both the developed and developing world, reducing the volume necessary to complete a given paint job.
A significant slowdown in Chinas economic output and construction spending
will also hinder stronger overall growth.
The fastest growth is forecast for India,
where paint use will be fueled by rapidly
expanding investment to build or update
homes, commercial businesses, and industrial facilities. In China, which alone
accounts for over one-third of the global
market, a growing middle class will continue to boost demand for architectural
paint, while healthy gains in manufacturing output are expected to bolster industrial coatings sales. Among developed
nations, the US will post the best performance as building construction activity
and fixed investment spending advance at
solid rates. Western Europe is expected
to see a turnaround in paint sales, spurred
by improved economic output and a recovering construction sector.
Coatings suppliers worldwide will
continue to reduce the volatile organic
WORLD PAINT & COATINGS DEMAND (thousand metric tons)

% Annual Growth
Item
2010
2015
Paint & Coatings

Demand
36055
45530 54700 4.8
3.7
North America
6160
7195
8205
3.2
2.7
Western Europe
5630
5525
5925
-0.4
1.4
Asia/Pacific
16270
23870 30050 8.0
4.7
Other Regions
7995
8940
3.3
compound (VOC) content of their products due to intensifying regulatory pressure. As a result, water-based paints and
powder coatings are expected to gain
market share at the expense of solventbased products, especially in countries
such as China, where environmental legislation is becoming increasingly strict.
Nonetheless, solventborne formulations
will continue to dominate a number of
specialty applications, including marine
coatings, automotive refinishes and corrosion protection coatings.
Smithers Rapra:
Environmental Issues
Continue to be Hot Button
for Pigment Suppliers
The value of the high-performance pigments market is estimated as $4.75 billion
in 2016, rising to $5.49 billion in 2021,
at a CAGR of 2.9 percent, according to
the latest market research from Smithers
Rapra. The Future of High-Performance
Pigments to 2021 analyzes the principal market sectors for high-performance
pigments (HPPs) and specialty pigments
(SPs). These include coatings, plastics,
inks especially for packaging, cosmetics, textiles and electronics.
Despite the strong move of pigment
production to Asia, especially India and
China, HPP production is still largely
in the control of European, U.S. and
Japanese companies.
26 market reports 0716.indd 26
2020
2010-2015
10520 2.3
2015-2020
Several technical advances in the enduser markets will spur the demand for new
and improved types of HPP across the next
five years. There is an increase in demand
for more specialized and unique end-use
pigments. Small and niche players are also
focusing on increased usage of specialized
pigments, such as thermochromic pigments and daylight fluorescent pigments.
Current and future developments in nanopigment technology, currently feeding the
high end of the market (special effect pigments) can be expected to have an impact
on uses of high-performance pigments.
Report author Trevor Sayer said:
Environmental issues will continue to be
a hot-button issue for pigment suppliers.
Without question the biggest challenge to
the global pigment market will be stricter
environmental regulation, especially related to water and industrial waste treatment. Company consolidation is another
major trend. It is being driven by tighter
regulatory and customer requirements,
coupled with the highly competitive nature of the global pigment market.
The global consumption of HPPs and
SPs is estimated at 178,844 tons for 2016,
a figure expected to climb to 206,921 tons
by the end of 2021 at a CAGR of 3.0 percent. The largest end-use sector is coatings.
This will account for 111,584 tons by 2021
54 percent of the total market by volume
and have a global value of just under $3
billion. CW
July 2016
6/24/16 12:36 PM
AD TEMP0415.indd 1
4/28/16 4:54 PM
New Products
Tnemec Introduces a
Series 118 Uni-Bond Mastic
nemec Company, Inc. has introduced a single component, mastic waterborne acrylic coating
for use on minimally prepared sound
rusted steel and previously coated surfaces in a wide range of environments.
Series 118 Uni-Bond Mastic is an excellent rust-inhibitive tie coat that can be
used with acrylic and solventborne urethane and fluoropolymer finish coats,
according to Cory Brown, vice president of technical services.
With Series 118, it is possible to
apply six to eight mils dry film thickness (DFT) per coat, Brown explained.
Although it offers a fairly high standing
viscosity, Series 118 sprays on easily with
dry-fall characteristics that reduce the potential for overspray issues on buildings
and surrounding property.
Series 118 has been specified as an
overcoat for steel water tanks, vessels and
other industrial and architectural metal
substrates. Surface preparation consists
of power washing steel at 5,000 psi and
some mechanical hand or power tool
cleaning to remove loose rust, scale and
deteriorated coatings to obtain a sound
surface for coating.
In addition to its strong adhesion
properties, Series 118 offers 200 percent
elasticity for excellent flexibility and impact resistance. The coating has excellent elongation, enabling it to expand and
contract with the substrate as the temperature varies, Brown reported.
In Cortland, Illinois, Series 118 was
specified for the exterior of an elevated
municipal water storage tank where a
limited budget prevented the owner from
abrasive blasting exterior steel. After a
severe winter of freeze-thaw conditions,
the coating system maintained its original
appearance, Brown observed.
Similar results were reported at the
University of South Dakota, where Series
118 was spray-applied to all exterior galvanized metal on the schools Old Main
Building. During this project, Uni-Bond
Mastic was topcoated with Series 1028

Enduratone, a waterborne acrylic polymer that provides extended color and
gloss retention.
By offering a coating like Uni-Bond
Mastic alongside a topcoat with excellent UV-resistance, like Series 1070
Fluoronar, project teams are able to apply
a long-term exterior coating system from
a single-source provider, Brown added.
Tnemec looks forward to providing our
customers with this innovative system in
overcoating situations.
New Architectural-Grade
RAL Products Join Axaltas
Powder Coating Portfolio
Axalta Coating Systems recently introduced two new options in the AR300
RAL color palette used in its Alesta powder coatings. These additions offer the
powder coating industry even more premium colors that combine excellent color
retention and weatherability.
The release of RAL 1035 - Pearl Beige
and RAL 1036 - Pearl Gold expands our
RAL offerings and is an example of our
desire to continually expand our powder
coating offerings for our customers, explained Craig Dietz, Axalta product manager. Our customers require attractive
and durable powder coatings in a variety
of hues and we intend to provide them
just that.
RAL 1035 and 1036 deliver a smooth,
glossy coverage with excellent abrasion
and corrosion resistance. These RAL
colors are TGICfree and contain virtually no volatile organic compounds or
targeted hazardous air pollutants, making them a sustainable, environmentally
responsible solution.
All of Axaltas RAL powder coatings
meet the stringent American Architectural
Manufacturers Associations 2603 standards and are designed to lower energy
consumption, increase productivity, and
reduce costs to the coater. Improved
storage stability, coverage and transfer
28 Products 0716.indd 28
efficiency create uniform coverage on

parts and make it easier to fill in scratches
and reduce excessive thickness.
PPG Introduces
VELVECRON SR StainResistant Clear Coat
PPG has introduced VELVECRON SR
(stain-resistant) coating, the first coating
successfully engineered to prevent staining of white and light-colored consumer
and mobile electronic devices such as tablets, smartphones and e-readers.
Based on proprietary PPG resin and
pigment technologies, Velvecron SR
coating is a clear, two-component urethane topcoat designed for application
to primed white plastic and mixed metal
substrates. It offers exceptional resistance
to staining caused by daily exposure to
foods, oils, liquids and lotions, while imparting a luxurious velvety feel to mobile
device housings and keypads.
Velvecron SR coating has been successfully trialed by a well-known global
consumer electronics manufacturer and
will be highlighted in a major device
rollout by the company in 2016 focusing on the products white color. The
coating exceeds industry benchmarks
for durability and stain resistance, and
it can be sprayed over white basecoats
at thicknesses of 20 to 25 microns
less than half the film-build needed
with conventional soft-touch coatings,
PPG reported.
Velvecron SR coating also is more
flexible than hard ultraviolet-cure (UVcure) coatings, so devices protected by
the material withstand harsh drop tests
more effectively than do those finished
with competing materials.
As a stain-resistant clear coat, the
technology featured in Velvecron SR
coating has potential for broad application in markets such as athletic equipment, appliances, automotive parts and
accessories, game consoles, furniture, and
display products.CW
July 2016
6/27/16 10:18 AM
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Untitled-3 1
8/23/11 11:36 AM
Business Corner Strategies & Analysis
We Are Seeing the Beginning Stages of a New

Normal for Middle Market M&A
by Patrick Jones, VP M&A, CHEMARK
Consulting (Part 1 of a 3 Part Series)
ackground. There is an old proverb, a back-handed insult really,

something about living in interesting times. Perhaps you know the quote.
Well, I think these are indeed interesting times for many reasons, primarily because we have been living and
doing business in such a prolonged period of historically low interest rates. At
CHEMARK, we see a variety of companies and have the opportunity to work
with clients of all sizes and at every position in the value chain raw materials
suppliers, formulators and end users.
Sometimes strategic considerations
necessitate acquisition or exit as CEOs
structure corporate portfolios and SBU
leaders seek to grow and optimize their
businesses. From our vantage point as a
specialized industry consultancy working with a multitude of clients, we see
many trends, commonalities and differences between classes of buyers and
sellers of business assets. The impact of
cheap capital on valuations, the resulting
buyer and seller behavior and ultimately the deal structures are among those
things heavily influenced by the general
interest rate environment.
In the past 20 years, as globalization
and the explosion of growth in China
has washed over the economic landscape, global wealth has become more
concentrated as evidenced by the exploding number of billionaires in China and
around the world. Forbes, publishes an
annual listing of the worlds billionaires
along with some basic statistics quantifying their estimated net worth, line of
business, etc.
In 2000, Forbes listed 470 billionaires with a total net worth of $898 billion. In 2015 totals were even greater
when Forbes counted 1826 people worth
over $7 trillion. It is estimated that 2016,
which so far is considered a down year,

the tally will include 1810 people worth
a total of $6.5 trillion. In May 2016,
Bloomberg estimated that, $4 trillion in family capital globally is up for
grabs. It has been estimated by others
that perhaps half of this capital resides
or is controlled by those who reside in
the U.S.
Similarly, since the Great Recession,
corporations have amassed unprecedented cash balances. According to a June
11, 2015 article published by Business
Insider, at the end of 2014 U.S. nonfinancial corporations had amassed a
cash hoard of $1.82 trillion, up 5 percent
from 2013 and growing, with the top 25
cash holders controlling 48 percent.
Companies such as Google, Pfizer
and General Motors reported cash balances in excess of $50 billion each at the
end of 2014 with Apple and Microsoft
maintaining cash in excess of $100 billion apiece. By January 2016, according
to New York Times Magazines Adam
Davidson, the U.S. corporate cash total
exceeded $1.9 trillion.
Initially cash accumulation was seen
as insurance against another global financial calamity, and it has evolved
into dry powder presumably poised for
investment in the next great thing that
promises to transform our way of living
and/or doing business. It is accumulating over time as a result of conservative
financial management and elaborate
tax-minimization strategies that have
generated huge overseas cash balances
that cannot be repatriated easily.
Meanwhile, economic waters have
calmed considerably and the worlds major economies are no longer on the brink.
Yet, while consistently positive, growth
has been tepid and to many wage earners
the recovery just has not felt like a true
recovery should feel.
For this reason what happens to all
that available private capital and public
company cash should be of interest to the
30-32 Business Corner 0716.indd 30
rest of us.
Because, no matter how you slice it,
these are staggering sums of money, and
how, when and where the capital is deployed (or not) has a tremendous influence on our general economic well-being.
Private Equity. As I noted at the outset, the backdrop to the current environment (and perhaps a major contributing
factor) is the prolonged period of nearzero interest rates in the worlds major
economies. This low-yield investments
universe has been particularly perplexing for the managers of the worlds elite
fortunes where lifestyle support, preservation of generational wealth and tax
minimization are dominant concerns.
When interest rates on even long-term
debt barely cover short-term inflation,
where does one go to find an acceptable
risk-weighted yield?
The days of safely allocating a sizeable portion of the family nest egg to
fixed income investments and enjoying
attractive cash-on-cash returns have given way to an altered reality where asset
allocations are necessarily more heavily
weighted in higher risk asset classes, and
alternative investment vehicles such as
hedge funds and private equity limited
partnerships become critical.
Private Equity (PE) is the largest
so-called alternative investment asset
class, and due to the industrys impact
on mergers and acquisitions activity, we
will take a closer look at the fundamentals, dimensions and factors driving the
growth and performance of the sector.
In its 2016 report entitled Private
Equity Growth in Transition Evolve
to Meet Tomorrows Challenges, the
Deloitte Center for Financial Services
pegs global Private Equity assets, excluding venture capital, at $3.65 trillion with
a 13.5 percent compound annual growth
rate (CAGR) since year end 2005.
Hedge funds, by comparison, comprise
$2.8 trillion with a 7.5 percent CAGR
over the same period. PE asset growth
July 2016
6/27/16 10:18 AM
Strategies & Analysis Business Corner

is expected to cool to 5 percent CAGR
through 2020, enabling the industry to
reach $4.66 trillion.
Deloitte defines the aggregate growth
in PE Assets Under Management (AUM)
noted above as the sum of growth in
committed capital, often described as
dry powder, plus the unrealized gains in
the investment portfolios under management. To thrive and survive, a PE buyout
firm must work constantly in two fundamental areas:
Attracting capital and

Deploying capital. (How much
money is flowing into PE and where
does it originate?)
surveyed in the first half of 2016 had an

asset allocation to PE below 5 percent as
compared to 44 percent of respondents
below a 5 percent allocation level 18
months prior (second half of 2014).
Also, 56 percent of Family Offices
surveyed in 2016 indicated more appetite for private equity. Taken in combination, one can sense the need for greater
return on capital as even conservative investment professionals seek to increase
their risk profiles.
Strategic Mega Deals. Increasingly,
operational excellence on a global scale
is a critical success factor in capital intensive industries such as chemicals.
Producers need to be close to local markets, and operating leverage must be
maximized to overcome high fixed costs
associated with heavy capital investment.
Consequently, with organic growth
increasingly difficult to achieve, corporations flush with cash and access to cheap
debt are predictably deploying their dry
powder in pursuit of global consolidation, diversification and economies of
scale in a wave of high profile, highly
valued strategic mergers and acquisitions. We have every reason to expect
this trend to continue if not accelerate as
monetary policy shows signs of moving
toward a more historical norm.
The table below highlights a few of
the most highly publicized recent transactions in the chemicals and energy market space.
Family Offices. In addition to the
growth in PE and the eye-watering scale
In 2015 Prequin Ltd., a specialist

consulting firm that tracks and analyzes
alternative asset classes, tallied $152 billion of PE buyout fund closings with the
largest single fund, Blackstone Capital
Partners VII, closing at $18 billion. Not
surprisingly, 8 of the worlds top 10 PE
firms are based in the U.S. (2 in the UK),
and typically over 80 percent of PE fund
raising is done in the U.S. or Europe.
PE investors represent a broad spectrum. Again, taking data from Deloitte
and Prequin, the top 7 investor groups
allocating assets to PE funds are summarized in the table below.
This data can be viewed a number
of ways, but a couple of observations
are particularly striking. First, pension
funds and insurance companies provide
55 percent of the investment capital,
yet their overall risk is minimal as they
are allocating only 5
percent or so of their
investable funds to
PE. Second, although
they comprise only Capital Source
5 percent of AUM,
family offices are Public Pensions
heavily invested in PE
with an asset alloca- Private Pensions
tion of 27 percent.
Additionally, in- Sovereign Wealth
vestor
allocations
to PE appear to be Insurance Companies
increasing. Prequin
data indicate that Endowments/Foundations
only 21 percent of institutional investors Family Offices
Source: Deloitte
% of Total AUM
% of Investors
Investor Allocation %
30
15
13
17
10
12
23
11
27
of the strategic mega-deals that dominate the headlines, a less well publicized
emerging trend that has captured my attention is the role of the Family Office as
a direct investor in middle market companies. We are all familiar with terms
like strategic buyer and hedge fund and
private equity, but unless you closely follow the world of wealth management
you may not be familiar with the lesserknown concept of the Family Office and
the array of functions such an entity
might perform.
Lets start with a basic definition of
the term Family Office. Investopedia describes the FO thusly:
Family offices are private wealth
management advisory firms that serve
ultra-high net worth investors. Family
offices are different from traditional
wealth management shops in that they
offer a total outsourced solution to
managing the financial and investment
side of a affluent individual or family.
For example, many family offices offer
budgeting, insurance, charitable giving,
family-owned businesses, wealth transfer and tax services.
Since many family fortunes are derived from successful privately held or
family-owned businesses, it comes as
no surprise that FOs are among the top
tier of investors in the PE space as highlighted in the discussion above. It stands
to reason that there would be a natural
affinity for investing in privately held
companies if a family company was the
source of initial wealth creation.
Coatings World | 31
6/27/16 10:18 AM
Business Corner Strategies & Analysis

But
PE
firms Acquiring Company
Target
charge management
fees, typically 2% of Dow
DuPont
AUM, and routinely
take 20 percent of Air Liquide
Airgas, Inc.
the profits upon exit.
This model works Bayer
Monsanto
best when the PE is
significantly larger Chem China
Syngenta
than the FO as the
investor can leverage Shell Oil
BG Group
the benefits of asset
pooling, but what Sherwin-Williams
Valspar
happens when the
FO and the PE are of Evonik
APCI PMD
equal size or the FO
is larger?
The short answer,
according to Russ
Alan Prince (Forbes,
December 2014), is Deal Volume by Size
2014
that more and more
FOs are electing to Undisclosed
619
bypass the PE and
invest directly. At $0-$50M
419
a certain level the
economics favor hir- $50M-$250M
108
ing dedicated professional staff and $250M-$1B
50
creating effectively
specific,
in-house >$1B
24
buyout firms within
the FO structure.
Some are well
known, names like
Pritzker, Gates and Dell, with billions of typically offered by the FO buyer.
Implications. Since this is Coatings
capital doing their own mega deals like
Dells $67 billion acquisition of EMC. World and we are all involved in the
But in a January 2016 article published broader chemicals industry, I wanted to
by Mergers & Acquisitions (www. get an indication of the relative attracthemiddlemarket.com), Danielle Fugazy tiveness of chemicals, and by extension,
noted that most are focused on the the paints and coatings value chain to
middle market where good companies potential FO investors. Data on just the
with differentiated market positions can coatings sector is not easy to find, but
be acquired and nurtured for the long there are published statistics available
term. She went on to write that, in 2014, summarizing the deal flow in the chemi77 percent of respondents surveyed by cals industry. The data in the table below
McNally Capital indicated a preference was compiled by PWC and excerpted
for direct investing versus PE, up from from its chemicals industry M&A summary for 2015.
59 percent in 2010.
Different sources define the term
The middle market appears to be
a good fit as owners of middle market middle market differently, but for the
companies often respond favorably to purposes of this article I am thinking of
the flexible deal terms, longer/indefinite deals valued at up to $250 million. Based
hold periods and ready access to capital on the PWC statistics, a typical year in
Value
Comments
$62B
Merger & Spin Off
$13B
Consolidation
$62B
Consolidation
$44B
Consolidation
$54B
Diversification / LNG
$9.3B
Consolidation
$3.8B
Geographic expansion
Source: Multiple
2015
Comments
647
Merger & Spin Off
361
Consolidation
129
Consolidation
38
Consolidation
17
Diversification / LNG
Source: PWC
the chemicals industry produces at least

150 announced deals valued between
$50M and $250M. Add in the smaller
deals valued below $50 million and, assuming that the majority of deals with
an undisclosed value fall at or below our
$250 million cut-off, the total amenable middle market for chemicals M&A
could be as large as 1100 to 1200 deals
per year.
In the next installment, I will take
a look at how Strategic Buyers, PEs
and FOs influence the world of mergers and acquisitions and examine some
of the key issues and implications for
hot-button topics such as valuation,
deal structure and the potential convergence between these three classes
of buyers as we consider the new normal going forward. CW
July 2016
6/27/16 10:18 AM
Latin America International Coatings Scene
Election Underscores Peru Growth Outlook

by Charles W. Thurston
Latin America Correspondent
thurstoncw@rodmanmedia.com
P
Perus demand
for architectural
paints should
rise on increased
demand by
homeowners
and from new
construction.
erus recent presidential election has reestablished a firm market-oriented future

for the rapidly growing country. Pedro
Pablo Kuczynski is expected to foster continued
growth in mining, oil and gas, as well as the infrastructure and housing construction markets,
boding well for paints and coatings demand.
The nation of 31 million-plus is considered an upper-middle class economy by the
World Bank, and the gross national product
per capita of over $11,000 is similar to that
in Colombia, but trails the Brazil figure. GDP
expansion this year is widely forecast to be 4.0
percent, and Perus central bank has forecast
4.6 percent in 2017.
The demand for architectural paints should
rise on increased domestic demand by homeowners and from new construction. The government has plans to build some 244,000
homes, to help alleviate the housing crisis. In
the commercial construction segment, STR reports that 1,064 rooms in nine hotels are being
constructed in Peru, which has a long history of
tourism growth.
Among new entrants to the architectural
market is Chiles Pinturas Ceresita, which is
now being manufactured in Peru. A company
official was recently quoted by a Lima publication suggesting that the Peruvian paint market
is now worth $350 million, with per capita consumption of 1.3 gallons.
Apart from strong sales for paint manufacturers with company stores, like SherwinWilliams, DIY big box sales are climbing.
Ceresita will be sold through the Sodimac
chain. Pinturas Vencedor, which has claimed to
be the third largest in the Peruvian architectural
segment, also is sold through Sodimac stores.
Vencedor, now owned by Qroma Color y
Proteccion, has sister paint companies in Peru
including: American Colors; CPP; Tekno; Fast;
Paracas; Jet; Uniqumica; Teknoqumica and
Abralit. Among these brands, CPP is being recast as a highly durable product under a new
33 Latin 0716.indd 33
marketing campaign. Similarly, American Color,

a premium brand, has recently launched a mobile phone site and a social media campaign.
Industrial paint demand will continue to
climb with new infrastructure projects. In the
oil and gas sector, the $4 billion southern gas
pipeline (GSP) is being constructed by a joint
venture including Brazilian construction firm
Odebrecht, Spanish utility Enagas and Peruvian
builder Grana y Montero. The pipeline will feed
two thermal electrical generation plants under
construction and plans are underway for petrochemical plants as well.
Industrial paint manufacturers like PeruPaint
will expand with new infrastructure projects,
adding to its portfolio of iconic structures like
the National Stadium. Other suppliers to the industrial segment include Germanys Eckart and
U.S.-based Armorthane. Armorthane executives
recently toured Peru with a Missouri State trade
promotion group to encourage greater exports
to Peru, particularly in the mining sector.
Mining is the other main stay in the
Peruvian economy, accounted for 14 percent of
the countrys GDP in 2014, when mineral exports yielded $16 billion. Peru holds 22 percent
of the worlds silver reserves and 13 percent of
the worlds copper reserves, according to Ernst
& Youngs Perus Mining & Metals Investment
Guide 2015/2016. CW
Coatings World | 33
6/24/16 12:37 PM
International Coatings Scene Europe
SMEs Face Challenges Related to REACH
Compliance with
sustainability
legislation,
both at the
European Union
and national
levels, has been
tough for small
and medium
entetrprises
(SMEs) in Europes
coatings value
chain.
by Sean Milmo
European Correspondent
milmocw@rodmanmedia.com
ompliance with sustainability legislation, both at the European Union and

national levels, has been tough for small
and medium enterprises (SMEs) in Europes
coatings value chains stretching from the raw
materials suppliers and coatings producers to
distributors and users.
It has been easier for the larger players but
difficult for companies with fewer financial
and human resources to deal with regulations
aimed at protecting the environment and human health.
As a result differences in attitude to sustainability have opened up in the coatings and
related industries, especially with regard to
the implementation of the EUs controversial
34-35 Europe 0716.indd 34
legislation on REACH the registration, evaluation, authorisation of chemicals, including

their application in products like coatings.
For many SMEs sustainability is a necessity but at times is an unnecessary strain which
imposes on them higher costs and alternative
products with poorer levels of performance.
Rules seem to be been made with just large
enterprises in mind, said Gerhard Huemer,
economic policy director, European Association
of Crafts, Small and Medium Sized Enterprises
(UEAPME), Brussels, which has a large number of members who are producers, distributors
and, above all, users of coatings.
SMEs comprise the vast majority of businesses in the EU, he added. Meeting their
needs should be the first principle when drawing up, reviewing and implementing legislation.
There is some progress but it is not enough.
Nonetheless there are now signs that the EU
and national governments are taking much more
July 2016
6/24/16 12:37 PM
Europe International Coatings Scene

notice of the regulatory requirements of
SMEs. The European Commission is giving them a priority in a current drive to
improve existing regulations.
The Better Regulation strategy of the
Commission includes specific guidelines
for assessing the impacts of EU initiatives
on SMEs, said Vincent Navez, executive
director, legal affairs for the European
Chemical Industry Council (Cefic).
In fact, impacts on SMEs must
be included in all Commission Impact
Assessment reports. It is important that
this dimension is looked at because, due
to their size and limited resources, SMEs
can be affected by the costs of regulation
proportionately more than their bigger
competitors. SMEs make up a significant
share of chemical companies operating in
the EU.
The European Commission, together
with the European Chemicals Agency
(ECHA), responsible for administering
REACH, has, for example, been trying
to reduce costs of compliance with the
legislation, which has a final deadline for
registration of chemicals in two years.
There is a focus on addressing the concerns of SMEs, particularly in view of
the final REACH registration deadline
in mid-2018 that is predicted to affect
SMEs the most, said Pete Walters, technical advisor, REACHReady, a Londonbased consultancy.
The authorization process, regarded as
being at the core of REACH because its
objective to remove the most hazardous
chemicals from the market, has become a
bigger hurdle for companies wanting to
keep chemicals, considered a high risk, on
the market. The process for applying for
the authorisation of a substance is complex and expensive, explained Walters.
This can deter companies from making
authorization applications for substances
and instead they are withdrawing them
from the market.
This can work against some SMEs.
For small companies making potentially
hazardous chemicals, authorization become a bigger barrier because of its high
costs. Also, it can mean that chemicals
essential for the businesses of coatings
producers, distributors and users will no
longer be available.
However, companies are being relatively successful once they decide to apply
for authorization by providing evidence
that the risks of exposure to their chemicals are adequately controlled or that the
social and economic benefits of their remaining on the market outweigh these
risks. NGOs are even complaining that
authorizations are being given too easily.
A current contentious application
for authorization by Dominion Colour
Corp., a Toronto-based medium-sized
pigments manufacturer, involves two
lead chromates-- lead sulfochromate yellow pigment (PY. 34) and the lead chromate molybdate sulphate red (PR. 104),
both classified as carcinogenic and toxic
to reproduction.
After being supported by ECHA, the
application for a 12-year authorization
looked highly likely in mid-June to be
endorsed, after much deliberation, by the
European Commission, which takes the
final decision on authorizations.
The agencys backing of the application had been criticized by some coatings
trade associations in Europe as well as
prominent multi-national pigment and
coatings producers supporting a voluntary ban on the use of lead pigments.
However, ECHAs two specialist committees dealing with authorizations one
covering health and environmental risks
and the other socio-economic issues
both recommended that the lead chromates be authorized for 12 years with
a review after seven years of data from
health and environmental monitoring of
the products.
The two committees concluded that
the alternatives to the pigments, mainly
comprising inorganic pigments such
as bismuth vanadate and organic pigments like azo diarylides, could not
achieve the same levels of
technical
performance as the lead chromates.
They were also more expensive some
as much as 6-10 times.
Since they were exclusively for industrial coatings applications, consumers
were not exposed to the pigments, while
risks to workers could be adequately reduced with the aid of protective clothing,
the committees decided.
The authorization application was,
34-35 Europe 0716.indd 35
furthermore, sent out for public consultation, which showed that it was strongly
supported by both coatings producers
and by coatings users.
Some may have the impression that
the coatings industry did not support our
application, said Mark Vincent, DCCs
vice president for sales, marketing, technical. In fact, there was overwhelming
support. Of the 384 responses received
during the public consultation process
on our application, the vast majority
70 percent concurred that there are
no alternatives for the uses applied for.
Of the remainder, 20 percent were technical/legal remarks and just 10 percent
were opposed, which included two coatings companies
These pigments are still required by
our customers small and medium sized
plastics and coatings manufacturers who
in turn provide technical solutions to
their customers, he continued. Our
application is all about these smaller
companies who have a need for these
pigments in their niche industrial and
professional applications.
DCC argues that the authorization is
being consistent with longer-term objectives, backed by large and small companies according to trade association
surveys, to phase out lead-based coatings.
We fully support the work of (regulators, NGOs and parts of the coatings
industry) to push for a worldwide prohibition on lead-based paint for consumer
and decorative purposes and encourage
restrictions on lead use in decorative
paints in countries where none exist today, explained Vincent. This goal is
not incompatible with the continued use
of our two pigments because as the
Commission states in its decision - the
uses applied for do not concern consumers. Furthermore, we have policies and
procedures in place to both control the
sale of the products and ensure they are
handled safely.
The big challenge is to successful
develop alternatives to pigments like
lead chromates which provide the same
quality, performance or durability required by coatings users, most of whom
are SMEs operating in niche, industrial
markets. CW
Coatings World | 35
6/24/16 12:37 PM
International Coatings Scene China
Future Growth Foreseen for UV Coatings in China
It is estimated that
China currently
has 50 UV coating
manufacturers
and a total annual
output of 102-160
thousand tons of
UV coatings.
by Arnold Wang
China Correspondent
V curable coatings (UV coatings) have

entered fast development in recent
years in China. Several reasons contribute to the fast growth of UV coatings. One
major reason is the hube pressure from society
for improving the environmental situation in
China. This has facilitated the growth of UV
coatings because UV coatings release almost
no VOC into the environment. UV coatings are
listed as an environment friendly coatings variety whose development is encouraged by the
Chinese coatings industry.
It is estimated that China right now has
approximately 50 UV coatings manufacturers
and a total annual output of 120 thousand-160
thousand tons of UV coatings. And approximately 44 percent of the UV coatings produced
36-37 China Report 0716.indd 36
in China were used to paint wood products, including wood furniture, wood floors and wood
doors. In the wood products segment, UV coatings were first adopted in the manufacturing of
wood floor products, and later on UV coatings
were introduced to paint wood furniture.
Plastic products are the second largest
market segment for UV coatings, which can
be found on automotive components, mobile
phones, electronic appliances and computers,
etc. UV coatings or inks can also be seen on
paper, porcelain, metal, glass, etc. But compared
with plastics and wood segments, the other segments only hold small percentages in the total
volume of UV coatings applications.
The challenges for promoting UV coatings
comes from the high unit price of UV coatings
compared with traditional PU and PE coatings
and extra investments needed for the construction of UV coating production lines. And the
UV coatings companies are aware of these
July 2016
6/24/16 12:38 PM
China International Coatings Scene
Not a single UV coatings producer can

meet the needs of all the customers.
Strategic partnership is needed more than
ever before. This has pushed UV coatings
companies to develop more talents, a
reason that many UV coatings companies
organized training classes...
challenges when promoting UV coatings
in the market and try their best to provide
value based solutions to meet the needs of
their customers.
Large UV coatings
producers provide solutions
instead of merely products
The application of UV coatings normally demands a company to invest in
new coating machines and UV curing
machines, which could be worth of millions of RMB. To master the whole coating process, the operators need many
hours of comprehensive training. To cater to the needs of downstream customers, some UV coatings producers such as
Changrunfa, Huilong Paint and Carpoly
worked closely with their customers to
make sure the UV coating lines deliver
high quality products.
Changrunfa is one of the largest domestic UV coatings manufacturers in
China. Right now the company has set
up coatings manufacturing bases which
cover all the regions of China, located respectively in Chengdu, Shanghai, Beijing,
Tianjin and Guangdong. Their Tianjin
plant, the last production base put into
operation by Changrunfa has a total investment of 150 million RMB and can
produce approximately 30 thousand
coatings and 20 thousand coatings resins.
The companys business not only include
UV and waterborne coatings but also include painting equipment and coatings
resins. In 2015 Changrunfa announced
that their first environmental painting
service center was officially opened in
Zhejiang province, and 30 painting service centers are planned to be established

throughout China in the future.
Huilong Paint is a leader in providing
UV coating solutions for the wood door
market, with half of the top 30 wood
door producers using Huilongs coatings
currently. Although Huilong is a pioneer
in developing UV coatings technology for
wood door applications, the company
is facing fierce competition from other
companies. The technological difference
between different UV coatings products
for wood door market segment is not big.
Furthermore, the growth of the Chinese
wood door market is slowing down.
Based on the information from the China
Timber & Wood Products Distribution
Association, the total production value
of Chinas wood door industry was 120
billion RMB, increased by 4.3 percent,
much slower than their growth speed in
2014, which was approximately 7 percent. The wood door industry is entering
a period of industry integration. Among
over 3000 wood door companies in
China, some of them will be eliminated
or merged into other companies because
of market competition. Entering 2016,
approximately 60 percent of the wood
door producers experienced a decrease of
output in February.
The market environment and the characteristics of UV coatings lead to the fact
that the wood products customers need
more and more customized solutions
from UV coatings companies, a trend
which that challenges UV coatings companies to provide both quality coatings
36-37 China Report 0716.indd 37
and efficient and quick services. Skill

trainings, production line adjustments
and improvements and technical support
are all expected after the customers decide to invest into UV coating production
lines. Not a single UV coatings producer
can meet the needs of all the customers. Strategic partnership is needed more
than ever before. This pushed UV coatings companies to develop more talents,
a reason that many UV coatings companies organized training classes and established service center and schools in the
last two years.
Huge growth potential still

waiting to be tapped into
UV coatings can be used for anticorrosion
purposes, including oil pipes, food and
medicine packages, as well as food and beverage cans. And beverage and food industries are still experiencing quick growth in
China. Based on the statistics from China
National Food Industry Association, in
2015 China produced approximately 177
million tons of beverage drinks, increased
by 6.23 percent over 2014. And the total
tea drinks market value surpassed 50 billion RMB in 2015, increased by 10.6 percent over 2014. Besides food and beverage
drinks, some other market segments also
provided growth potential for UV coatings in China.
Telecommunication market is growing
fast in China. Because of a high technical barrier for UV coatings in this market,
Shanghai PhiChem Material Co., Ltd,
who is the largest supplier of UV coatings
used on optical fiber in China, increased
both their revenue and profit in the last
two years. The companys revenue was
increased to 432 million RMB in 2015
to 323 million from 2013, and their net
profit was increased by 60.79 percent in
the same period of time to 105 million
RMB, leading to a high profitability of
24.35 percent. Alos, the development of
broad band network and 4G(5G) construction provides growth potential for
PhiChem in the future.
In addition, continuous growth of the
automotive industry and new applications of UV coatings in 3D printing are
also offering new opportunities for UV
coatings. CW
Coatings World | 37
6/24/16 12:38 PM
International Coatings Scene Africa
East Africa Coatings Congress Report;

Part I
by Shem Oirere
Africa Correspondent
Companies take
advantage of East
Africa Coatings
Congress to
sample market.
he East African Coatings Congress held

in Nairobi between June 8 & 9 may not
have been anything near what the event
organizers have experienced in similar events
in North Africa, Europe and Asia in terms of
attendance and participation, but some of the
companies that took part said they were in East
Africa to explore the market, to seek business
partners and gauge the business environment
for potential investors in this fast-growing coatings market.
One could even say the selection of Nairobi
to host the East African Coatings Congress
(EACC) was deliberate on the part of the organizers. The city is East Africas paints and
coatings industry hub where all leading paints
and coatings market players such as Crown
Paints (also Crown Berger), Basco Paints, Solai
Paints and Sadolin Paints East Africa Ltd., formerly a subsidiary of Danish paint manufacturer Sadolin & Holmblad, later acquired by
AkzoNobel Coatings, have set up their operational base.
Companies such as Crown Paints have
spread their wings to the rest of East Africa
with subsidiaries such as Crown Tanzania,
Regal Paints in Uganda and Crown Rwanda.
Nairobi, also being the gateway to landlocked
Uganda, Rwanda and Burundi, the event organizers could not have picked a better venue for
the East African Coatings Congress.
The East African Coatings Congress presented superb opportunities for networking as
there is no other event of this kind in the region, said Kieran Proverbs, marketing manager
for Coatings Group, the main event organizer.
He said the Congress, whose theme was
East African Opportunities Investing in
Growth, provided a rare occasion in which senior decision makers in the industry assembled
in one location to meet participants from all
segments of the paints and coatings industry.
Jackie Xia, a senior manager at the export
department of the Chinas Quzhou Dongtai
New Material Company Ltd. said although
38-39 Africa Report 0716.indd 38
the company exports its products to Africa, the

EACC was the first forum for the company to
engage with potential consumers, business partners and players in the East African market.
This is our first time exhibiting in East
Africa and we are looking forward to getting
some good leads and probably useful business relationships by the end of the event,
said Xia.
Her company manufactures the Dongtai
titanium dioxide brand, which the Quzhoubased firm said is widely used in enhancing the
performance of paints, plastic, printing ink,
papermaking, chemical fiber, rubber, leather
and various kinds of industrial paint flourocarbon lacquer.
The chief executive officer of the Scotlandbased CelluComp Ltd., Christian Kemp-Griffin
said: We are not in the market yet but we believe there is potential in doing business in East
Africa and sub-Saharan Africa generally.
The company develops high performance
products based on sustainable resources that
offer rheological and mechanical properties
for numerous applications, such as paints
and coatings, personal care, home care, cosmetics, concrete, drilling fluids, composites
and other potential applications, according to
Kemp-Griffin.
I hope there are companies in East Africa
at this forum with whom we can talk with on
the possibility of forming partnerships through
which our products can penetrate the market,
he said.
CelluComp Ltd, which launched its Curran
product at the European Coatings Show in
2013, works with paint formulating companies
globally, alongside its distribution partners
Krahn Chemie, Keyser Mackay and Tennants
Distribution. Griffins told participants the
Curran product is one of the CelluComp Ltd.s
solutions to meet the the increasing environmental demands and performance demands of
the customers.
Ahmed Gamal of Covestro, a spinout formed
in the fall of 2015 from Bayer and formerly
the German multinational chemical and pharmaceutical companys $12.3 billion materials
science division, said East African market has
July 2016
6/24/16 12:38 PM
Africa International Coatings Scene

huge potential for the paints and coatings
industry material manufacturers. He said
Covestros participation at the EACC was
an opportunity to network with current
and potential customers of the companys
high-tech polymers and raw materials for
polyurethanes, coatings, adhesives and
specialty chemicals.
Our products are already in the
East African market and the
event provides an opportunity for us to hear from our
consumers, retailers and other participants, said Gamal.
During the two-day event,
top professionals and company decision implementers gave presentations that
touched on a wide range of
issues such as the overview
of the African paints and
coatings market, regulatory
issues, latest technology that
is shaping the industry, latest
projects and also upgrading
of existing manufacturing facilities and new ones with capacity to enable competitors
stand out from the crowd.
Daniel Troxler of Switzerland-based
Buhler AG explained to participants how
to achieve high-grade dispersions with
their micro bead processing systems. He
said optimized agitated bead milling can
enable companies in the paints and coatings industry achieve quality enhancement and energy saving.
He outlined to the participants how
different bead mill designs and major
parameters influencing the quality and
required specific energy positively.
The most important parameters,
which need to be optimized are the power
density in the mill chamber and the diameter of the grinding beads, he said.
Troxler said: It is a regular finding that reducing bead diameter results
in a substantial improvement of the
achievable dispersion quality, while at
the same time, reducing the specific energy required.
Cardolite Specialty Chemicals Europe
NV international sales manager Hans
Bosmans gave a presentation on how
manufacturers of various coatings
products can help consumers to achieve

beautiful floors for many years to come.
He singled out his companys Ultra
LITE 2009, which he said is the first phenalkamine in the market with Gardner
color ideal for floor top coats of all hues
and shades.
Cardolite derives its products from cashew nutshell liquid, a natural, renewable
chemical raw material grown widely in

Africa, Brazil, India and Vietnam.
Cardolites Ultra LITE 2009 is a
Cardanol-based curing agent that is used
in the floor coatings with qualities such
as low color and nice film appearance,
fast cure, good water resistance, balanced
mechanical properties, good self-leveling
properties, and excellent weatherability. Cardanol is the primary component
of the cashew liquid technology, which
Bosmans said is a natural phenolic compound with a long unsaturated fatty side
chain.
The curing agent is ideal for floor top
coats, good replacement for cycloaliphatic amine, according to Bosmans.
He said formulators can take advantage of the products good leveling
properties to reduce the number of coating layers required in a project or to use
the same curing agent for the self-leveller
and topcoat.
CelluComps Kemp-Griffins talked
to the EACC participants on the critical subject of choosing the right product for coating formulations to ensure
38-39 Africa Report 0716.indd 39
the final product meets the demands

of the environmental and performance
demands of customers.
He explained how coatings manufacturers can use the companys Curran
brand, which is developed from the extraction of nano-cellulose fibers of root
vegetables and offers exceptional rheological and mechanical properties for numerous applications, such as
paints and coatings, personal
care, home care, cosmetics,
concrete, drilling fluids, composites and other potential
applications.
He said the use of Curran
provides saving for both interior and exterior paint formulations such as 8 percent to 58
percent reduction in binder, 25
percent reduction in coalescent, 17 percent reduction in
anti seize spray thickener, 80
percent reduction in hydroxyethylcellulose (HEC), and 5
percent to 10 percent reduction
in titanium dioxide (TiO2).
Frank Abschlag of Elementis
Germany GmbH, a manufacturer of rheological additives and pigment dispersions
for the coatings, inks, adhesives, construction industries, said paint formulators in
Africa, who are used to mid- to highPVC latex paints dominated by the use of
HEC, can effectively combine HEC with
other thickeners to overcome an often-noticed limitation in workability.
He gave the example of mixing the companys rheology modifier
RHEOLATE and HEC which he said
work synergistically and will give you
excellent paint application properties
such as good sag stability, better dilution
stability than when one uses HEC alone.
Abschlag said Elementis GmbHs
RHEOLATE 150 works in the
same viscosity range than HEC while
RHEOLATE 175 gives better flow and
levelling properties.
The East African Coatings Congress,
which attracted 55 exhibitors and more
than 450 participants, had more than 12
presentations from company executives,
industry analysts and the United Nations
Environmental Programme. CW
Coatings World | 39
6/24/16 12:38 PM
International Coatings Scene Russia
Foreign Producers Adapted to

New Conditions in the Russian Market
Foreign paint
and coatings
manufacturers
operating in
Russia move
to localize
production and
raw material
purchases.
by Vladislav Vorotnikov
Russia Correspondent
epresentatives of the Russian Association

of Coating Manufacturers (Tsentrlak)
believe that over the past two years foreign producers in the countrys market have been
negatively affected with the devaluation of the
ruble as well as the overall economy crisis in
the country, whilst domestic manufacturers may
benefit from this situation and take advantage of
current import-replacement initiatives.
However, the largest market players managed to keep strong positions over the recent
two years and target to further improvement of
their business operation in the country. Some of
them have applied to localization initiatives in
order to cut currency risks in cooperation with
its main customers and to be able to participate
in government import substitution programs.
40-42 Russia 0716.indd 40
Hempel gets residence

registration
The Russian division of Hempel Group has
recently finalized construction of the plant in
Ulyanovsk, obtaining operational license, thus
official becoming a Russian resident. According
to Peter de Groot, general director at Hempel
A/S for Russia, Ukraine and CIS Region, this is
an important factor of the companys strategy
giving the import replacement initiatives at the
local market.
Hempel took the decision to invest in
Russia quite a few years ago. When the government passed a decree prioritizing state procurement of locally produced goods over imports it
gave us a strong additional reason to accelerate
our 30 million investment in Russia, since we
had substantial imports at that time, de Groot
noted. Our new factory in Ulyanovsk is a fully
integrated state-of-the-art facility capable of
producing Hempels full global product range.
July 2016
6/24/16 12:39 PM
Russia International Coatings Scene

Since we produce our high quality coatings only from raw materials that meet
Hempels strict quality requirements, our
policy is to buy local raw materials only
when the local quality standard is fully
met and the price is no higher than imported. We are working with many local
raw material suppliers to help them to
meet our strict criteria and we see this cooperation as an ongoing long term partnership. On the other hand, certain raw
materials, such as epoxy resin, are simply
not produced in Russia/CIS, and may not
be for a very long time, so we are forced
to import certain raw materials.
At the same time, he explained that a
number of Russian-owned local producers have been trying to take advantage of
the governments import substitution policies by offering alternatives to imported
premium industrial coatings. He noted,
that these producers have been somewhat
successful in lobbying state enterprises to
use their products by using local testing
and certification bodies, but usually without passing internationally recognized
testing procedures.
We have in certain cases conducted
our own comparative testing and have
also received reports from a number of
quality-minded customers, and negative
gaps in quality are usually seen.
More recently, we have seen disturbing instances where customers have been
forced to use alternative coatings from
certain Russian-owned local producers,
rather than the tried and tested premium
coatings. We see this is a negative trend
because it does not lead to market efficiency which we believe comes from fair
competition. In the end, the customer suffers by either paying too much or by receiving a lower quality. We are all for an
open market and a transparent and level
competitive playing field, de Groot said.
Huge localization for PPG

Group
PPG Group noted the worsening of the
situation in the countrys market, according to Jens Brackebusch, general manager
PPG Russia.
I believe everyone in the coatings industry has felt the crisis here in Russia.
When industries like automotive drop by
PPGs construction site in Lipetsk Oblast
nearly a half in a few years, all suppliers

to this industry are affected. Up until the
end of 2014 we were doing well as a business, and we are now steadily recovering
after a difficult 2015, Brackebusch said.
The key point of the companys strategy
here is the construction of a plant in Lipetsk
Oblast with overall capacity of 25,000 tons
of coatings per year and investment of RUB
1.97 billion (US$ 30 million).
The Lipetsk plant project was initiated out of the necessity to localize the
production of coatings we have been importing historically from production sites
in Western and Central Europe. The pressure on localization of production from
customers, especially in the automotive
industry has increased over the years and
we have therefore decided to offer this
sourcing possibility to our local customer
base, Brackebusch explained.
In this production site we will produce products for various industry
groups, such as automotive, industrial,
metal packaging as well as for marine
and oil & gas customers. The majority of
those customers are buying already from
us today the plant will allow us to better serve this customer base from a local
production platform that will cater to
their needs. We believe that this project
will suit our business plans for the next
foreseeable future, he added.
Speaking about the general market situation, the manager of PPG Russia stated
that the current economic situation and
the Ruble devaluation have clearly put
pressure on the cost of coatings in Russia
with two main tendencies are competing
with each other at the moment.
The pressure for low cost at the price

of quality and the drive to increase the
export of Russian goods are competing
with high quality international products.
While I believe that the low cost driver
will be significant in the short term, I trust
that the need for quality coatings allowing Russian industrial goods to compete
with international companies will prevail
in the future, Brackebusch explained.
In terms of the advantage position of
Russian coatings producers compared to
foreign brands, which has been previously
indicated by Tsentrlak, Brackebusch said it
is overstated, as there are some instances
where the activities for foreign companies
are restricted, but this remains a very small
part of the Russian coatings industry.
Not a lot of problems for

Tikkurila
According to Ilari Hyyrynen, managing
director Tikkurila in Russia, the situation
in the past two years has not been easy
but the company has managed well.
We have been able to grow nevertheless due to the crisis. Growth has not
been as fast as assumed still in year 2014.
Weakening ruble has affected to our business as business of all companies importing goods to Russia. We have not been
able to transfer devaluation of Ruble
fully to sales prices, Hyyrynen said.
He also indicated that the company
produces a full range of deco and industrial products in Russia, importing highend premium deco paints from Finland.
At the same time, the target currently is
to localize more and more production
and raw-material purchases to Russia.
Coatings World | 41
6/24/16 12:39 PM
International Coatings Scene Russia
Tikkurila produces a full range of deco and insustrial coatings in Russia. The target is to localize more and more production and raw material purchases to Russia.
He also indicated the rise of competition

in Russia.
I fully agree [with Tsentrlak statement] competition is getting more tough
due to big number of paint producers,
doesnt matter are they local or foreign.
Local players have some certain benefits
especially in the economy segment but
Tikkurila, as a market leader, is in a lucky
situation having wide range of products for all quality and price segments,
Hyyrynen stated, adding that market
is going through number of structural
changes as well.
According to him, in the Russian paint
and coatings market general trend seems
to be downgrading of purchase behavior.
People are looking for more price sensitive products than in the past years when
economy was rapidly growing. That kind
of trend and consumer behavior is very
much usual in all economies facing economic challenges.
At the same time we can see positive trends on the market. For example,
the substitution of solventborne materials by waterborne is going further. This
is a good sign for Russia due to ecological reasons and the impact on the health
of the end-users. As an international
company, Tikkurila is always promoting
high-quality and environmentally sustainable solutions for surface protection
and decoration. We are happy to see such
trend on the market even in crisis years,
Hyyrynen concluded.
As one of the issues of recent years

he also named the practice where some
competitors are utilizing Tikkurilas wellknown product names and naming their
products very closely/similarly. However,
according to Hyyrynen this does not bring
the company a lot of problems, as it mostly shows the power of its brand portfolio.
AkzoNobel indicates
potential of local market
According to the general manager of the
Russian division of AkzoNobel, Mikhail
Ionov, the crisis brought some effect on
the situation in the countrys market, but
still it has been limited.
Just as any other sensible companies
we have been forced to lay part of the
devaluation risks on consumers, where
it was possible. This is standard business
thinking, but where it was impossible we
were making advances to customers in
terms of price, Ionov said.
He also indicated that in Russia,
AkzoNobel currently operates three
plants: two in Moscow Oblast and one
in Lipetsk Oblast. The overall capacity of
decorative painting is 10,000 tons, while
for powder coatings it is close to 8,000
tons per year.
He also admitted some problems with
raw materials, as with the poor development of the Russian chemistry industry
on some certain positions company has
to import up to 100 percent of raw materials for coating production from abroad.
This year we are planning some expansion [of production capacities] with
opening of line for production of marine
coatings. This will be coatings for all
sorts of ships and complex metal structures, oil barrels and large plant complexes. We are targeting to open it this
year, Ionov stated.
In additional, he indicated that Russian
market has a low level of coatings use per
capita and most manufacturers believe as
a result the market has strong potential.
This is particular evidenced by the projects of PPG and Hempel.
These [projects] indicate that foreign
companies see good potential in Russian
coating industry as there will be a lot of
place to grow and compete here,Ionov
added.
Ionov didnt agree fully with Tsentrlak
on the rise of competition from domestic
coatings manufacturers, indicating that
so far Russian producers has low level of
technological base.
Somehow and from somewhere they
are buying unstable raw materials and
trying to make some [coating] underground to sell it under someone elses
brand. Certainly, it is the damage to
the brand, but if they do it under their
own names, than these companies has
not very bright future, because of quality. Large companies can not afford such
high reputation risks. We will be more
expensive, but still we have our own customers, he concluded. CW
July 2016
6/24/16 12:39 PM
BEYOND ADVANCED
September 15th 2016
SESSION TOPICS TO BE PRESENTED:

1. New and Better Coatings for Green Building Systems (LEED)
2. Lower Cost Non-ISO Coating Systems
3. Epoxy Systems with Improved Corrosion Resistance
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7. Improved Lifetime & Functionality for Coatings
8. Environmentally Friendly, Sustainable, and Reduced Carbon
Footprint for Coatings
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CV1.indd 1
6/27/16 9:32 AM
Top Companies Report

O
nce again, CoatingsWorld brings the industry our Top Companies Report the only truly global ranking of the top manufacturers
of paints, coatings, adhesives and sealants. Our editorial staff has devoted many hours researching the industry to provide you with
the most accurate ranking of paint and coatings manufacturers operating in the global industry. Rankings are based on annual
sales in U.S. dollars. For companies based outside the U.S., sales are translated into U.S. dollars using exchange rates from the companys
fiscal closing date. For privately held companies who choose not to disclose sales figures, our staff interviews different industry sources
coupled with our own research to come up with an accurate estimate of annual sales. We profiled 87 companies in this report. All have
sales of $100 million or more annually. Companies marked with an asterisk in the ranking on the following page represent CoatingsWorld
estimate. Bold companies are those making their first appearance as a Top Company.
The Top Companies Report is intended to provide our readers with a snapshot of the industrys most influential players. We hope you
will come away with a clearer insight into the future of this truly global and always evolving industry. If you are a paint, coatings, adhesives
or sealants manufacturer with sales of $100 million or more for fiscal 2015 and would like to be included in our Top Companies Report,
contact me and I will add your company to the online version.
-Kerry Pianoforte, Editor
First Timers
Brillux $568 million Karl Wrwag $221 million Mankiewicz $311 million
Meffert $355 million Ring International $601 million
Take-out Companies
Helios (Slovenia) bought by Ring International Holding
2015 Top 20
01 PPG 02 AkzoNobel 03 Sherwin-Williams 04 Henkel 05 Sika
06 RPM 07 Nippon 08 Vaslpar 09 Axalta 10 BASF Coatings 11 Kansai 12 KCC
13 3M 14 Asian Paints 15 H.B. Fuller 16 Masco 17 Hempel 18 DAW
19 DuluxGroup 20 Jotun
44 | Coatings World
44-45 Lead and Ranking 0716.indd 44
July 2016
6/27/16 2:58 PM
2016 Top Companies

1 PPG (USA)
2 AkzoNobel (The Netherlands)
3 Sherwin Williams (USA)
4 Henkel (Germany)
5 Sika (Switzerland)
6 RPM International (USA)
7 Nippon Paint (Japan)
8 Valspar (USA)
9 Axalta (USA)
10 BASF Coatings (Germany)
11 Kansai Paint (Japan)
12 KCC (South Korea)
13 3M (USA)
14 Asian Paints (India)
15 H.B. Fuller (USA)
16 Masco (USA)
17 Hempel (Denmark)
18 DAW (Germany)
19 DuluxGroup (Australia)
20 Jotun (Norway)
21 Shawcor (Canada)
22 Chugoku Marine (Japan)
23 Cromology (formerly Materis Paint)
(France)
24 Berger Paints (India)
25 Benjamin Moore (USA)
26 SK Kaken (Japan)
27 Beckers (Sweden)
28 Tikkurila Oyi (Finland)
29 Dai Nippon Toryo (Japan)
30 Pidilite Industries (India)
31 Fujikura Kasei (Japan)
32 Ring International Holdings
(Germany)
33 Dunn Edwards (USA)
34 Brillux (Germany)
35 National Paints Factories (Jordan)
36 Lord (USA)
37 Noroo Paint (South Korea)
38 Samhwa Paints Industrial (South Korea)
39 Carpoly (China)
40 Nihon Toksuhu (Japan)
41 Ennis-Flint (USA)
42 Betek Boya (Turkey)
43 Meffert AG Farbwerke (Germany)
July 2016
44-45 Lead and Ranking 0716.indd 45
$14.24 Billion
$10.925 Billion
$10.24 Billion*
$9.748 Billion
$5.54 Billion
$4.596 Billion
$4.45 Billion
$4.4 Billion
$4.1 Billion
$3.607 Billion
$2.906 Billion
$2.61 Billion
$2.4 Billion
$2.3 Billion
$2.04 Billion
$2.02 Billion
$1.894 Billion
$1.53 Billion
$1.24 Billion
$1.236 Billion
$1 Billion
$950 Million
$874 Million
$868 Million
$805 Million*
$752 Million
$710 Million
$638 Million
$634 Million
$626 Million
$612 Million
$601 Million*
$594 Million*
$568 Million*
$498 Million
$480 Million*
$475 Million*
$440 Million
$417 Million
$407 Million*
$400 Million*
$380 Million
$355 Million*
44 Shanghai Coatings (China)

44 Musashi Paint (Japan)
46 Kangnam Jevisco (South Korea)
46 Tiger Coatings (Austria)
48 Teknos Group (Finland)
49 Mankiewicz (Germany)
50 TOA Group (Thailand)
51 Pintuco (Colombia)
52 Kelly-Moore (USA)
53 CIN (Portugal)
54 Origin Electric (Japan)
55 Flugger Group (Denmark)
56 Yasar (Turkey)
57 JW Ostendorf (Germany)
58 Taiho Paint (China)
59 Pacific Paint Boysen (Phillippines)
60 Tambour (Israel)
61 Karlworwag Lack-Und
Farbenfabrik (Germany)
62 Grebe Group (Germany)
63 Rock Paint (Japan)
64 Renner Saylerlack (Brazil)
65 Shinto (Japan)
65 Ace Paint (USA)
67 Kapci Coatings (Egypt)
68 Kikusui Chemical (Japan)
69 Tohpe (Japan)
70 Diamond Vogel (USA)
71 Looser Holding (Switzerland)
72 Sniezka Woj. (Poland)
73 Industrias Titan (Spain)
74 Cloverdale Paint (Canada)
75 WEG Tintas (Brazil)
76 Kayalar Kimya (Turkey)
77 Whitford Corporation (USA)
78 Emplis (Russia)
79 ICA Group (Italy)
80 Natoco (Japan)
81 Tnemec Company (USA)
82 Pachin (Egypt)
83 Asahipen (Japan)
84 MIDO Coatings (Egypt)
85 Russian Coatings (Russia)
86 Atomix (Japan)
86 Boero Group (Italy)
$350 Million*
$350 Million*
$335 Million*
$335 Million
$322 Million*
$311 Million*
$300 Million*
277.2 Million USD
$275 Million*
$270 Million
$268 Million*
$263 Million
$256 Million
$240 Million
$235.76
$230 Million*
$224 Million*
$221 Million*
$218.5 Million*
$204 Million*
$200 Million*
$190 Million*
$190 Million*
$183.7 Million
$182 Milllion*
$181.32 Million*
$168 Million
$152 Million
$141,058,838 Million
$139 Million*
$137.12 Million
$134,313,987 Million
$134 Million*
$133.44 Million*
$131 Million
$124 Million
$123.45 Million
$120 Million
$119.6 Million
$117 Million*
$103 Million*
$100.61 Million
$100 Million*
$100 Million*
Coatings World | 45
6/27/16 2:58 PM
2016 Top Companies
20
55 27
17
02 34 49
72
04 10 42
18
05 45
62
23 57
71 61 32
74
15 08
70 13
65
52
33
81
41
21
16 03
86
53
06 01
25
77 09
36
73
79
51
72
75
ALPHABETICALLISTING
42 BETEK BOYA
78 EMPLIS
11 KANSAI PAINT
13 3M
86 BOERO GROUP
41 ENNIS-FLINT
67 KAPCI COATINGS
27 AB WILH. BECKER
34 BRILLUX
55 FLUGGER GROUP
61 KARLWORWAG LACK-UND
65 ACE PAINT
39 CARPOLY
31 FUJIKURA KASEI
FARBENFABRIK
2 AKZONOBEL
22 CHUGOKU MARINE
62 GREBE GROUP
76 KAYALAR KIMYA
83 ASAHIPEN
53 CIN
15 H.B. FULLER
12 KCC
14 ASIAN PAINTS
74 CLOVERDALE PAINT
17 HEMPEL
52 KELLY-MOORE
86 ATOMIX
29 DAI NIPPON TORYO
4 HENKEL
68 KIKUSUI CHEMICAL
9 AXALTA
18 DAW
79 ICA GROUP
46 KANGNAM JEVISCO
10 BASF COATINGS
19 DELUX GROUP
73 INDUSTRIAS TITAN
71 LOOSER HOLDING
25 BENJAMIN MOORE
70 DIAMOND VOGEL
20 JOTUN
36 LORD
24 BERGER PAINTS
33 DUNN EDWARDS
57 JW OSTENDORF
49 MANKIEWICZ
46-47 Map 0716.indd 46
July 2016
6/27/16 3:06 PM
48 28
85
49
42
72
45
78
61 32
79
54
40
12 38 63 45
76 22
37 45 68 83
31 44
80 29
11 07
44
69 26
76 42
56
84 67
60
82
35
39 64
24
14
30
50
59
19
16 MASCO
54 ORIGIN ELECTRIC
38 SAMHWA PAINTS
46 TIGER COATINGS
23 MATERIS PAINTS
82 PACHIN
INDUSTRIAL
28 TIKKURILA OYI
59 PACIFIC PAINT BOYSEN
44 SHANGHAI COATINGS
81 TNEMEC COMPANY
43 MEFFERT AG FARBWERKE
30 PIDILITE INDUSTRIES
21 SHAWCOR
50 TOA GROUP
84 MIDO COATINGS
51 PINTUCO
3 SHERWIN WILLIAMS
69 TOHPE
44 MUSASHI PAINT
1 PPG
65 SHINTO
8 VALSPAR
35 NATIONAL PAINTS
64 RENNER SAYLERLACK
5 SIKA
75 WEG TINTAS
FACTORIES
32 RING INTERNATIONAL
26 SK KAKEN
77 WHITFORD CORPORATION
72 SNIEZKA WOJ.
56 YASAR
(NOW CROMOLOGY)
80 NATOCO
HOLDINGS
40 NIHON TOKSUHU
63 ROCK PAINT
58 TAIHO PAINT
7 NIPPON PAINT
6 RPM INTERNATIONAL
60 TAMBOUR
37 NOROO PAINT
85 RUSSIAN COATINGS
48 TEKNOS GROUP
46-47 Map 0716.indd 47
Coatings World | 47
6/27/16 3:06 PM
Top Companies
01
2016
PPG
Pittsburgh, Pennsylvania/USA
www.ppg.com
PUBLIC COMPANY
YEAR ESTABLISHED: 1883
REVENUE: $14.24 billion t (2014: $14.25 billion)
SEGMENT BREAKDOWN
Aerospace coatings Packaging coatings Automotive
OEM coatings Industrial coatings Automotive refinish
coatings Protective and Marine coatings Architectural
coatings Specialty coatings and materials
KEY EXECUTIVES
Charles E. Bunch, executive chairman; Michael H. McGarry,
president and CEO; Viktor R. Sekmakas, executive VP; Frank S.
Sekmakas, executive VP and CFO; Glenn E. Bost II, senior VP and
general counsel. Bryan N. Iams, VP corporate and governmental

affairs; David S. Bem, VP science and technology and CTO; JeanMarie Greindl, senior VP, Architectural Coatings, and president,
PPG EMEA; Timothy M. Knavish, senior VP, Automotive Coatings;
Ram Vadlamannati, senior VP, Protective and Marine Coatings
and Corporate Development; Michael Horton, president, PPG
Asia Pacific, and VP, Protective and Marine Coatings, Asia Pacific;
Marcos Achar Levy, VP, Architectural Coatings, Latin America,
and CEO, PPG Comex; Shelley J. Bausch, VP, Global Industrial
Coatings; David J. Cole, VP, Architectural Coatings, U.S. and
Canada; Barry N. Gillespie, VP, Aerospace Products; Anup Jain,
VP, Specialty Coatings and Materials; John R. Outcalt, VP, Global
ales of PPG Industries three coatings business segments Performance Coatings, Industrial Coatings and
Architectural Coatings EMEA combined for
$14.24 billion in revenue in 2015.
2015 was another record year for our 132year- old company, said Michael McGarry, CEO
of PPG. Thanks to our customers and employMichael
ees, we were able to strengthen our global paint
McGarry
and coatings businesses despite some challenging
global economic conditions. Throughout the year,
we continued to deliver on our commitment to produce industry
leading paint, coatings and specialty materials that our customers
trust to protect and beautify their products and surroundings. Our
employees dedication, energy, innovative spirit and technical knowhow are key reasons why customers rely on PPG.
PPG reported that it delivered strong financial results in 2015, achieving the highest adjusted earnings per diluted share in company history.
PPG also completed several strategic initiatives aimed at creating
long-term value for its shareholders.
This included the successful integrationof Comex, the leading
paint supplier in Mexico, which we acquired in late 2014, McGarry
stated. The performance of PPG-Comex has been excellent by every
measure. In addition, we have maintained the pace of opening a new
PPG-Comex concessionaire store location approximately every two
days. I am proud to note that weve surpassed the milestone of 4,000
store locations in Mexico. While these achievements are significant,
we still have considerable growth opportunities ahead.
In addition, PPG completed a number of smaller acquisitions
during 2015:

Acquired specialty wood-care and paint products brand,
FLOOD Australia.
Acquired REVOCOAT, a global supplier of sealants, adhesives and damper products for the automotive industry.
Completed the acquisition of Consorcio Latinoamericano, a
network of 57 paint stores in Central America.
Acquired Cuming Microwave, a manufacturer of coatings that
absorb microwaves and radio waves and that have applications in military aircraft, electronics, telecommunications and
medical equipment.
Acquired IVC Industrial Coatings, a U.S.-based manufacturer of
specialty powder and liquid coatings for industrial applications.
Acquired majority interest in a new joint venture, called Sealants Europe SAS, formed with the aerospace and automotive
sealants and adhesives business of Le Joint Franais (LJF).
Looking forward in 2016, PPG remains focused on delivering
higher organic growth, including continued commercialization of its
innovative, industry leading paint, coatings and specialty materials.
Being the worlds leading paint and coatings company is a journey not a destination, said McGarry. In many ways, our journey
has just begun. So we continue our focus on driving growth from
within our businesses. We also will continue to be aggressive on efficiency and productivity initiatives. As those of you who have followed
us for years know quite well, this is a never ending quest at PPG. We
are always looking for ways to improve our cost structure.
PPG Reports Sustainability Progress

PPG has released its 2015 Corporate Sustainability Report, which
details the companys progress toward achieving its 2020 sustainability goals.
The company announced the following progress in 2015:
Achieved 30 percent of sales from sustainable products, an
increase of 50 percent since 2012.
Reduced energy intensity 23 percent since 2012.
Reduced greenhouse gas emissions intensity 17 percent since
2012.
Reduced its injury and illness rate 26 percent since 2012.
Implemented a wellness program at 71 percent of its facilities.
Implemented its community engagement framework at 65
percent of its sites.
Distributed $7.8 million in charitable contributions.
Launched the 10-year, $10 million COLORFUL COMMUNITIES
global charitable initiative.
48 01PPG 0716.indd 48
Automotive Refinish; Kenneth J. West, VP, Packaging Coatings;

Gregory B. Benckart, VP, Automotive Refinish, Americas; Kevin
D. Braun, VP, Industrial Coatings, Americas; Gary R. Danowski,
VP, Automotive Coatings Operations, Automotive Parts and
Accessories-Decorative and Commercial Vehicles; Diane Kappas,
VP, Protective and Marine Coatings, Americas; Rajesh Lall, VP,
Operations, Industrial Coatings and PPG Asia Pacific; Matt C.
Marek, VP, Automotive Coatings, Americas; David P. Morris, GM
and VP, Americas, Aerospace; Thomas E. Maziarz, VP, Stores and
Dealers, Architectural Coatings, North America; Vincent Robin,
VP, Automotive Coatings, Asia Pacific; Pauline Yuen, VP, Refinish
Coatings, Asia Pacific; Radhika Batra, VP, Purchasing and Logistics.
July 2016
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Top Companies
02
2016
AkzoNobel
Amsterdam, the Netherlands
www.akzonobel.com
PUBLIC COMPANY
MARKETS SERVED
Decorative paints
Marine and protective coatings
Auto and specialty coatings
Industrial and powder coatings
KEY EXECUTIVES
Ton Bchner, chairman and CEO; Malys Castella, CFO; Ruud
Joosten, executive committee member, Decorative Paints;
Conrad Keijzer, executive committee member, Performance
Coatings; Werner Fhrmann, executive committee member,
Specialty Chemicals managing directors: Oscar Wezenbeek
(marine coatings); John Wolff (powder coatings); Alberto Slikta
(specialty coatings); AB Ghosh (metal coatings); Mauricio
Bannwart (protective coatings); Simon Parker (vehicles
refinishes); Volkan Goran (wood coatings); Roger Jakeman
kzoNobel is active in the fields of decorative paints, performance coatings and specialty chemicals and employs
approximately 45,600 people (including its Specialty Chemicals business) in more than 80 countries. Mature Europe comprises
36 percent of the companies revenue, Asia Pacific 27 percent, North
America 17 percent, Latin America 10 percent, emerging Europe 7
percent and other countries 3 percent.
Although conditions were challenging during the year with many markets
and regions experiencing varying degrees
of volatility and uncertainty we made
significant progress towards our vision
of leading market positions delivering
leading performance, said Ton Bchner, CEO of AkzoNobel. We are now
a stronger, leaner, more agile company.
We have new operating models in place;
Ton Bchner
weve refined our portfolio; our factory
footprint has been optimized; a continuous improvement culture is being initiated and theres continued
focus on operational excellence. In addition, our ability to successfully commercialize innovation remains strong, we continue to lead
the way in terms of sustainability and our Human Cities initiative
has evolved and continues to grow and thrive. All of this contributed
to our performance, which saw us successfully achieve our 2015
financial targets.
Decorative Coatings Segment: Full-year operating income increased by 39 percent as a result of the new operating model, lower
costs, reduced restructuring expenses and currency developments.
Revenue was up 3 percent due to favorable currencies offsetting adverse price/mix and volumes. Volumes were down 1 percent overall
for the full-year, with positive developments in Asia offset by Latin
America and Europe.
Protective Coatings Segment: Full-year operating income was up
45 percent, due to performance improvement initiatives, management delayering, lower costs, reduced restructuring expenses and
currencies. Revenue was up 7 percent, driven by favorable price/
mix and currencies offsetting lower volumes. Volumes were down
2 percent across the segments, impacted by lower demand in Brazil
and ongoing spending declines in the global oil and gas industry.
AkzoNobels pioneering methodology for rewarding ship
owners who use sustainable hull coatings has been named Environmental Leader Product of the Year for 2016. The award
recognizes the introduction of the shipping industrys first carbon credits methodology, which was developed by the companys
Marine Coatings business.
Lets Colour Program

Lets Colour is an employee-led community program, which is
based on AkzoNobels belief in the transformative power of color.
The company donates paint and organize projects for community
groups, charities and individuals who have the desire and determination to make a difference through color. By revamping gray and
unappealing spaces into bright and colorful environments, AkzoNobels goal is to bring happiness to the lives of people everywhere.
As part of AkzoNobels Human Cities initiative, the Lets
Colour program highlights the important role color can play in
making cities more vibrant, inspiring and human. In August, for
example, 450 volunteers took part in one of the biggest Lets Colour events ever staged by the companys Decorative Paints business. Around 20,000 liters of Coral (AkzoNobels paint brand in
Brazil) was used to transform more than 300 buildings in Rio de
Janeiros famous Santa Marta favela. Education is also a key component of the Lets Colour program. This is achieved through
paint apprenticeships, which combine the desire to bring color to
communities via schools, hospitals and other public places with a
commitment to train local people (often from disadvantaged backgrounds) in the skills of painting and decorating.
During 2015, AkzoNobel donated more than 115,000 liters of
paint, worth an estimated 0.5 million. Approximately 1,000 AkzoNobel employees were involved, volunteering more than 8,000
hours of their time to various Lets Colour projects across the
globe. The company also trained 4,250 people in painting and estimate that they positively impacted the lives of around five million
people in 2015.
50 02Akzonobel 0716.indd 50
(performance coatings); Klaas Kruithof (Performance Coatings

RD&I director); Jaap Kuiper, Decorative Paints managing
director LATAM; Lin Lianqi, Decorative Paints managing
director China and North Asia; Amit Jain, Decorative Paints
managing director - North West Europe; Jan-Piet van Kesteren,
Decorative Paints managing director - Eastern Europe & Africa;
Jeremy Rowe, Decorative Paints managing director - South
East & South Asia, Middle East; David Menko, Decorative
Paints global marketing director; Trudy Schoolenberg,
Decorative Paints global supply chain and R&D director.
July 2016
6/27/16 3:12 PM
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Top Companies
03
2016
Sherwin Williams
Cleveland, Ohio/USA
www.sherwin-williams.com
PUBLIC COMPANY
REVENUE: $10.24 billion s (2014: $6.370 billion)
Stores Group are not reported as part of coatings revenue.
(Note: Sherwin-Williams reported total revenue of
MARKETS SERVED
Architectural coatings Industrial coatings Protective
and marine coatings OEM product finishes
$11,339,304 billon for fiscal 2015. However, for purposes of

this report, sales of painting tools and equipment in the Paint
Wood finishes Aerospace coatings
The above is Coatings Worlds estimate.)
he Sherwin-Williams Company reported $11.33 billion in

net sales for 2015. Minus the sale of painting tools and
equipment in the companys Paint Store Group, Coatings
World estimates the companys paint and coatings sales to be approximately $10.24 billion.
Its Paints Stores Group is the leading operator of specialty paint
stores in North America, with more than 4,000 stores located
throughout the U.S., Canada and the Caribbean region and represents 63.6 percent of total sales. Its Paint Stores Group includes
Sherwin-Williams branded paints and stains. Major brands include
Sherwin-Williams, MAB, ProMar and SuperPaint. The Consumer
Group comprises 13.9 percent of sales and sells branded, private
KEY EXECUTIVES
Christopher Connor, executive chairman; John Morikis,
president and CEO; Thomas P. Gilligan, senior VP, human
resources; Sean Hennessy, senior VP, finance and CFO
label and licensed brand paints, stains, varnishes, industrial products, wood finishing products, aerosols, caulks and adhesives. Major
brands include Dutch Boy, Krylon, Minwax, Thompsons WaterSeal, Pratt and Lambert, Martin Senour, Ronseal and Duraseal.
The companys Global Finishes Group comprises 16.9 percent of
total sales and manufactures and sells a wide range of OEM product finishes, protective and marine coatings and automotive finishes
to a customer base in 120 countries. Key brands include SherwinWilliams, Lazzuril, Excelo and Baco. The Latin America Coatings
Group encompasses 5.6 percent of total sales. It manufactures a
wide range of architectural paints and industrial coatings throughout Latin America.
The Sherwin-Williams Company to Acquire Valspar for $11.3 Billion

The Sherwin-Williams Company and The Valspar Corporation have entered into a definitive agreement under which Sherwin-Williams
will acquire Valspar for $11.3 billion.
Sherwin-Williams and Valspar have complementary paints and coatings offerings and
this combination enhances Sherwin-Williams
position as a premier global paints and coatings provider. The transaction results in a
diversified array of brands and technologies,
accelerates Sherwin-Williams growth strategy
by expanding its global platform in Asia-Pacific and EMEA, and also adds new capabilities
in the packaging and coil segments. The combined company would have pro forma 2015
Revenues and Adjusted EBITDA (including
estimated annual synergies) of approximately
$15.6 billion and $2.8 billion, respectively,
with approximately 58,000 employees.
John G. Morikis, president and chief executive officer of The Sherwin-Williams Company,
said, Valspar is an excellent strategic fit with
Sherwin-Williams. The combination expands
our brand portfolio and customer relationships
in North America, significantly strengthens our
Global Finishes business, and extends our capabilities into new geographies and applications,
including a scale platform to grow in Asia-Pacific and EMEA. Customers of both companies
will benefit from our increased product range,
enhanced technology and innovation capabilities, and the transactions clearly defined cost
synergies. We have tremendous respect for
the expertise and dedication of the Valspar
team and we are excited about the opportunities that this combination will provide to both
companies employees. Sherwin-Williams will
continue to be headquartered in Cleveland
and we intend to maintain a significant presence in Minneapolis.
Morikis added: Sherwin-Williams has a
long track record of successfully integrating
acquisitions. We are highly confident in the
industrial logic of the transaction and, once
closed, our ability to achieve $280 million of
estimated annual synergies in the areas of
sourcing, SG&A and process and efficiency
savings within two years and our long-term
annual synergy target of $320 million. We expect this transaction to be immediately accre-
52 03Sherwin-Williams 0716.indd 52
tive excluding one-time costs and meaningfully

enhance our cash flow generation profile.
Gary E. Hendrickson, chairman and chief
executive officer of Valspar, said, We are
pleased to announce this compelling transaction, which delivers immediate and certain
cash value to our stockholders. We believe
that Sherwin-Williams is the right partner to
utilize our array of brands and create a premier global coatings company. The combination of Sherwin-Williams and Valspar will
benefit our customers, employees and other
stakeholders. We are confident this transaction will create opportunities to accelerate
many of the operating initiatives already
underway at Valspar. We look forward to
positioning Valspar to enter its next phase of
growth and success and to working closely
with Sherwin-Williams to seamlessly close
this transaction. Together we will continue
to build on the solid momentum our team has
worked so hard to create.
The transaction is expected to close by the
end of Q1 calendar year 2017, and is subject
to the approval of Valspar shareholders and
July 2016
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Top Companies
04
2016
Henkel AG & Co. KGaA

Dusseldorf, Germany
www.henkel.com
PUBLIC COMPANY
REVENUE: $9.748 billion t (2014: $10 billion)
MARKETS SERVED
Adhesives Sealants Special Purpose coatings
KEY EXECUTIVES
Hans Van Byland, chairman and CEO; Jan-Dirk Auris,
executive VP Adhesive Technologies and member of the
board. Senior VPs of Adhesive Technologies: Ramon
Bacardit, Research; Julian Colquitt, North America,
General Industry; Jean Fayolle, Packaging Industry; Eric
enkel has expanded it presence in Asia-Pacific significantly

this year. Henekl recently opened its first Asia-Pacific Loctite Impregnation Service Center in Suzhou, China. With
this new service center, Henkel brings its impregnation technology
from Europe into Asian and other emerging markets.
The Suzhou Loctite Impregnation Service Center (LIS) is a modern 1,000 square meter workshop located in the center of Suzhou
Industrial Park which is 50 km from Shanghai. This service center,
located in the vicinity of major automotive manufacturers and their
suppliers, means reduced transportation distances equating to time
and cost savings.
Staffed with in-house technical service engineers, LIS offers a
world class level of quality and service with maximum flexibility to
increase efficiency in customers processes. Loctite is a standardized
process flow, quality system, fully automated computer controlled
impregnation system, and high-tech resins deliver consistent quality
and sealing performance. Once parts are returned, customers can
expect maximum sealing rates, zero damage, and zero distortion,
clean and ready to use parts for the subsequent processing steps, the
company stated. The highly efficient design of Loctite impregnation
service enables customers to achieve greater levels of sustainability
by minimizing wasted resin and shortening the processing time.
Loctite Impregnation solutions reliably seal all forms of porosity in many automotive parts, such as cylinder heads, water pumps
and compressors. Since its establishment, Henkel has hosted experts
from foundries, automobile manufacturers, and machining industries. Henkel plans to further expand the Loctite Impregnation
Service Center in the coming years in order to accommodate an
increasing need for quality and innovative technologies from the
Asian automotive market.
Henkel also launched a new innovation center in Shanghai to
better meet Asia-Pacific market needs. The new facility, featuring
a state-of-the-art NVH Testing Lab, consumer adhesives lab and
training center, will greatly expand Henkel Adhesives R&D capabilities in the region, providing innovative market-driven solutions
to local China and APAC customers.
Covering 6,730 square meters and featuring 171 R&D and
product development workstations, the HAIC has been designed
to facilitate effective collaboration across project teams. HAICs
NVH Testing Lab, replete with the latest equipment and software,
will provide NVH reducing solutions to China and APAC cus-
tomers through the optimization of product design parameters.

Meanwhile, the Consumer Adhesives Lab & Training Center Lab,
featuring a number of realistic living-space environments such as
a dining room, bathroom, swimming pool and carpark, will be
employed to test new product applications and provide effective
training for local customers.
Henkel said the HAICs Shanghai location was strategically chosen to bring Henkel Adhesives closer to customers and be increasingly responsive to local needs.
Hans Van Bylen Named Henkels New CEO

Hans Van Bylen has been appointed
Henkels new CEO. He succeeds Kasper
Rorsted, who has served 11 years on the
Henkel Management Board.
I am glad that Henkel will be led by
Hans Van Bylen in the future. Because
of his long-standing and international
experience at Henkel, his excellent management skills and his passion for brands,
innovations and customers, he is the perfect fit for the CEO position. We know that with Hans Van Bylen
Henkels future is in best hands, said Dr. Simone Bagel-Trah, Chairwoman of the Supervisory Board and the Shareholders Committee.
Hans Van Bylen explained: My appointment as CEO is both
an honor and an obligation. I am looking forward to this and I am
convinced we will continue the successful development of Henkel
with our global team in the future.
Hans Van Bylen joined Henkel in 1984. His successful career at
the company during the last 31 years comprised management positions with a broad geographical scope in two of Henkels business
units, Laundry & Home Care and Beauty Care. He began his career
in Belgium and Benelux, and he later took on business responsibilities in France, Western Europe, the Middle East and Africa, North
America, Asia-Pacific and Latin America. Since 2005, Hans Van
Bylen has been a member of the Management Board, responsible
for the Beauty Care business.
54 04Henkel 0716.indd 54
Holzbacher, Africa/Middle East, Consumer and Building

Industry; Paul Kirsch, Transportation and Metal Industry;
Michael Olosky, Asia Pacific; Matthias Schmidt, Financial
Director; Alan Syzdek, Electronics Industry.
July 2016
6/27/16 3:14 PM
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AD TEMP0415.indd 1
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Top Companies
05
2016
Sika AG
Baar, Switzerland
www.sika.com
PUBLIC COMPANY
REVENUE: $ 5.54 billion s (2014: $2.85 billion)
MARKETS SERVED
Adhesives Sealants Protective coatings
KEY EXECUTIVES
Paul Hlg, chairman of the board; Jan Jenisch, CEO; Group
management: Paul Schuler, EMEA; Jose Luis Vazquez,
Latin America; Silvio Ponti, building systems and industry;
Christoph Ganz, North America; Ronald Trchsel, CFO;
ika supplies the building and construction industry as well

as manufacturing industries (automotive, bus, truck, rail,
solar and wind power plants, facades). Sika is a leader in
processing materials used in sealing, bonding, damping, reinforcing and protecting load-bearing structures. Sikas product lines
feature high-quality concrete admixtures, specialty mortars, sealants and adhesives, damping and reinforcing materials, structural
strengthening systems, industrial flooring as well as roofing and
waterproofing systems.
All regions achieved significant sales increases and market share
gains during fiscal 2015, with double-digit sales growth in the core
markets of the U.S., Mexico, Africa, the Middle East, Southeast
Asia and the Pacific. According to Sikas Annual Report, in the
past business year, the EMEA region (Europe, the Middle East and
Africa) increased sales by 5.6 percent, benefiting from the good
business performance in Eastern Europe, Africa and the Middle
East. Sales in Western Europe even slightly exceeded the previous
years strong result. The greatest sales growth was achieved in the
Latin America region. Despite a challenging market environment
in Brazil, market share gains in other countries resulted in sales
rising by 9.5 percent. North America recorded a sustained high
level of growth, increasing sales by 8.4 percent. In the U.S., Sikas
continued development of the market and the healthy construction
sector, where investment in infrastructure and commercial projects is increasing, led to significantly higher volumes. Growth in
the Asia/Pacific region slowed to 2.1 percent owing to the market
downturn in China. Although double-digit sales increases were
achieved in Southeast Asia and the Pacific.
Sikas accelerated growth in the emerging markets continued
to generate results, with sales rising by 7.9 percent. The highmargin mortar business a core component of Sikas Strategy
2018 exhibited an above-average performance, with sales
growth of 12.9 percent. Sika further expanded its fast-growing
mortar business in the past year by opening five new factories and
completing three acquisitions.
The accelerated expansion in growth markets continued in 2015
and new factories were opened in all regions. In the EMEA region,
the expansion of production capacity in the form of new factories in
Dubai, Nigeria, Ivory Coast, Russia, and la Runion will ensure additional future growth, said Sika CEO Jan Jenisch. Furthermore,
Sika established new national subsidiaries in Tanzania and Ethiopia.
In the Latin America region, new factories were opened in Paraguay
and Argentina, while in North America, Sika expanded its production capacities by adding a new facility in Philadelphia. In the Asia/
Pacific region, Sikas first factory in Sri Lanka was opened, while a
new national subsidiary was established in Myanmar.
Sika Opens Fourth Plant in Canada
Sika has inaugurated a mortars and concrete admixtures plant in

Vancouver. The new facility is the Groups fourth in Canada. It will
supply the Pacific Northwest, a region that includes the major cities
of Vancouver, Seattle and Portland. The new plant marks the continued execution of Sikas supply chain strategy in North America,
the aim of which is to expand production capacities in conurbations
and major cities.
Christoph Ganz, regional manager North America: Local production will be very beneficial to customers in the region by providing improved product availability, reduced lead times and faster
deliveries. Moreover, eliminating the cost of shipping products from
our Edmonton and Montreal plants and using locally sourced raw
materials will enable us to optimize our cost structure.
The new facility in Vancouver includes a modular mortar plant
and blending equipment for the production of a wide range of concrete admixtures. In addition to the production area, the new building also houses a quality control laboratory, a warehouse and office
space for administrative and sales personnel.
This latest addition brings the number of Sika production sites
in North America to 18, four of which are in Canada. In December
2015 a mortar production facility opened in Philadelphia, Pennsylvania to serve the major cities on the East Coast of the U.S.
56 05Sika 0716.indd 56
Ernesto Schmperli, concrete and waterproofing; Heinz

Gisel, Asia Pacific; and Urs Mder, technology.
July 2016
6/27/16 3:14 PM
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Top Companies
06
2016
RPM International Inc.

Medina, Ohio/USA
www.rpminc.com
PUBLIC COMPANY
Primers-sealers Specialty paints

Hobby and craft paints Wood stains and finishes
Rust-preventative paints
MARKETS SERVED
Roofing systems Caulks and sealants
Flooring systems Corrosion control coatings
KEY EXECUTIVES
Frank C. Sullivan, chairman and CEO; Ronald A. Rice,
president and COO; Thomas Reed, Rust-Oleum Group;
PM International Inc. is a multinational holding company with

subsidiaries that manufacture
and market high-performance coatings,
sealants and specialty chemicals, primarily for maintenance, repair and improvement applications. RPM reported revenue
for 2015 of $4.594 billion. The company
employs approximately 13,000 people
Frank C. Sullivan
and has 116 facilities in 26 countries.
In fiscal 2015, the companys industrial
products accounted for 65 percent of its
total coating sales, with consumer products representing 35 percent. The Industrial segments operating groups include Tremco,
Stonhard, Carboline and Tremco illbruck. The Specialty segments
operating groups are Day-Glo, Dryvit, Mohawk and Petit.
The Consumer segments operating groups include Rust-Oleum
Group, DAP, Varathane, Zinsser and Testors.
RPM has launched a number of new products this year. They
include DAP Advanced Kitchen and DAP Kitchen, Bath and
Plumbing High Performance Sealant, Varathane Matte Floor Finish Polyurethane, Neverwet Rain Repellant by Rust-Oleum, Zinsser Dryfall and Block Filler 2X, Zinsser Paint Booster and DAP All
Purpose Adhesive.
Recent Acquisitions
RPMs Rust-Oleum subsidiary has acquired Seal-Krete, a leading
U.S. manufacturer of concrete care coatings and sealants for the retail market with annual net sales in excess of $10 million. Terms of
the transaction, which is expected to be accretive to earnings within
one year, were not disclosed.
Seal-Krete, formerly a division of Clayton Valve, manufactures
a complete line of priming, painting, sealing and finishing products
for maintaining and decorating concrete, masonry, brick and pavers.
Its products are sold primarily through home improvement centers,
as well as through independent hardware and paint stores. Among
its leading brands are Seal-Krete Original, Damplock, Epoxy-Seal
and Clear-Seal.
RPMs Mantrose-Haeuser Co., Inc. subsidiary within the RPM
Specialty Products Group has acquired Holton Food Products Company, a leading U.S. supplier of food stabilizer and dry egg white
products for the bakery and prepared food markets. Based in LaGrange, near Chicago, Illinois, Holton has annual net sales of $7
million. Terms of the transaction, which is expected to be accretive
to earnings within one year, were not disclosed.
Holton supplies high-strength dry egg white products, used with
its food stabilizers, for small- or large-scale, high-speed production
of meringue toppings, fillings, cookies, cakes, pies, and other dessert
and entre items. Holtons products are primarily sold to large bakery and food companies to optimize appearance, texture, moisture
control, production efficiency, freeze-thaw stability and shelf life.
Ross, John and David Holton, sons of the founder, will stay on to
run the business.
Acquisitions Drive Growth for RPM

When it comes to acquisitions, RPM seeks either free-standing entrepreneurial companies or product lines with between $10 million
and $300 million in annual sales. It targets companies that fit within
its portfolio of specialty coatings businesses, can be integrated into
an existing RPM platform, hold a market-leading position and generate strong profit margins.
RPM often retains the entrepreneurial management teams that
made the companies it acquires successful in the first place. Today,
more than one-third of RPMs businesses are operated by the original founders or their second- or third-generation family members.
Ror this reason, RPM is known as the best home for entrepreneurial companies in the industry.
Over the last 30 years, RPM has acquired more than150 companies, approximately 70 of which have been during the past decade.
RPM attributes its success rate to its reputation, experienced corporate development team and longcourting process.
RPM supports rapid growth of its acquired companies by investing in them at a greater rate than they could when they were independent. It also connects newly acquired products and technologies
to RPMs worldwide distribution and supply chain network. these
connections enable them to increase market penetration, improve
efficiencies, share technologies and reduce costs.
58 06RPM 0716.indd 58
Terry Horan, DAP Group; Steve Knoop, Specialty Products

Group; Paul Hoogenboom, Tremco Group; Reiner
Eisenhut, Tremco Illbruck Group; David Reif, Performance
Coatings Group.
July 2016
6/27/16 3:15 PM
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Top Companies
07
2016
Nippon Paint Co., Ltd.

Osaka, Japan
www.nipponpaint.com
PUBLIC COMPANY
MARKETS SERVED
Automotive coatings Industrial coatings Decorative
coatings Marine and protective coatings
ippon Paint manufactures a wide variety of paints and

coatings including those for automobiles, construction,
architecture, steel structures, ships, metal, electrical equipment, machinery, roadways and household appliances among others. Nippon Paint is one of the largest paint manufacturers in Asia
and has 33 manufacturing plants and produces more than one million tons of paint and coatings annually.
In Asia, all Nippon Paint offices are managed by the Nipsea
Group. Nipsea Group manufactures and sells Nippon Paint products in 15 Asian countries. Overall, the company generates close to
one billion liters of paints and coats annually.
Nippon Paint (Coatings) Philippines joined the recently concluded Philippine World Building and Construction Exposition
(Worldbex) held at the World Trade Center, Metro Manila.
Themed Worldbex 2016: Uniting Strong Foundations, the
event put a spotlight on interior design luminaries who mounted
gallery vignettes that showcased their design philosophies, and reflected the prolific development of the countrys construction and
design industry.
Nippon Paint (Coatings) Philippines collaborated with notable
interior designers such as Johnny Hubilla, Michael Pizzaro and
Rogelio Caringal, who used the innovative Nippon Paint Momento Special Effect Paint to bring more life to their respective
gallery designs.
A revolutionary textured paint series that allows one to add texture to the walls, Nippon Paint Momento comes in two lines the
Textured Paint Series, a premium line of opaque paint featuring
Elegant, Sparkle Pearl, Sparkle Silver and Sparkle Gold special effects; as well as the Enhancer Series, a semi-transparent glaze-over
featuring Frost and Cloud special effects.
Nippon Paint also partnered with the National Institute of Fashion Technology (NIFT), Chennai (China) to create design patterns
using Momento special effect paint.
The Elegant range will help to create a stylish impression with
luxurious matt textures and rich colors. Innovative and enchanting, Elegant is formed with gelatine pigments and rich colors to
evoke the essence of Italian renaissance. Its thick formation spreads
across any surface to create an exquisite texture. With odorless
and water-based features, it transforms any interior environment
into a rustic masterpiece.
The Enhancer range will provide a glazed-look over the walls
to create serene winter masterpieces of frost texture bathed in snow,

pearl or gold luster. The entire range focuses on providing homes
with a soothing and spacey appearance.
The Dzine range will bring an out-of-the-box, unorthodox approach to painting walls. This variant is easy-to-use and enables
homeowners to be able to design their own homes.
During the launch, Mahesh Anand, president decorative business, Nippon Paint said, With this new launch, our focus is to
primarily reach out to homeowners who are looking to redo their
homes based on their respective personalities. As designed by
NIFT students the patterns using Momento range of products are
easy-to-use and ideal for homeowners who enjoy painting their
own living spaces. Partnering with NIFT Chennai has definitely
proved beneficial to us the students come with interesting, fresh
ideas and it was truly a delight to see such beautiful patterns created with our paints.
Nippon Launches New Paint To Safeguard

Against HFMD And H1N1
Nippon VirusGuard, a new paint formula
to safeguard against Hand, Foot and
Mouth Disease (HFMD) and the H1N1
virus, will be available in the market in
soon. Produced by Nippon Paint Malaysia, the paint which was developed with
Silver Ion Technology, is the first of its
kind to have anti-viral and anti-bacterial
coating to inhibit the growth of viruses and bacteria on painted
surfaces. Nippon VirusGuard can help mitigate the spread of contagious diseases such as HFMD and H1N1. The revolutionary waterbased hygiene paint prevents the growth of micro-organisms using
a controlled ion-release system, besides featuring low odor with
low volatile organic compounds (VOC), said Nippon Paint, group
managing director, Yaw Seng Heng. Yaw said Nippon Paint is also
working with relevant parties to come up with an anti-mosquito
wall paint to combat dengue, which is a common, growing problem
worldwide.
60 07Nippon 0716.indd 60
KEY EXECUTIVES
Kenji Sakai, president, representative director; Yoshio
Andou, senior vice president, general manager of trade
use paint division and executive director; Ryoichi Baba,
senior vice president, representative director; Kiyohiko
Chijiiwa, executive vice president and director; Kanji
Nishijima, vice president.
July 2016
6/27/16 3:27 PM
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Top Companies
08
2016
The Valspar Corporation

Minneapolis, Minnesota/USA
www.valsparglobal.com
PUBLIC COMPANY
MARKETS SERVED
Architectural coatings General industrial Coil
coatings Wood coatings Automotive refinish
KEY EXECUTIVES
Gary Hendrickson, chairman and CEO; Jim Muehlbauer,
EVP and CFO; Howard Heckes, EVP and president, Global
Coatings;Les Ireland, EVP and president, Global Consumer
Paints; Cynthia Arnold, SVP, chief technology officer;
Howard Heckes, EVP and president, global coatings; Les
015 was another record year of earnings performance for

Valspar.
In 2015, Valspar delivered
another year of what matters to our customers, shareholders, employees and the
communities we serve, Gary Hendrickson, CEO of Valspar. At Valspar, we
create value and achieve strong financial
results by investing in differentiated technologies, producing high-quality products,
building brands consumers trust, and providing outstanding customer service.
Coatings Segment
Gary Hendrickson
In 2015,Valspar won new business in every Coatings product line.

In Packaging, Valspar is the global leader and continues to drive the
market in non-BPA coatings. During 2015, Valspar received excellence awards from several packaging customers for the best quality
products and technical service.
In General Industrial, Valspar is also an innovator and leader.
An example is Aquaguard, a breakthrough water-based coating
used by leading shipping container manufacturers. Aquaguard provides superior corrosion protection while reducing volatile organic
compounds (VOCs) by up to 94 percent, said Hendrickson. In
architectural coil and extrusion coatings, we have a long and proud
history. In 2015, we celebrated 50 years of the Fluropon brand in
architectural coil coatings. Fluropon is offered in over 20,000 colors
and can be found on signature buildings around the world. We are
a trusted partner and were rewarded by our customers with growth
in all geographies in 2015. In Wood products, Valspars superior
service model, innovative technical solutions and inspiring colors
make us a valued partner with the worlds leading wood furniture,
cabinet and building products brands.
Paints Segment
The Valspar portfolio of brands is available in more than 20,000
points of distribution worldwide. Together with its retail partners,
Valspar isdriving sales and building a loyal following for Valspar
brands through best-in-class retail service, new product innovation,
and world-class marketing and merchandising support, the company reported.
In North America, a leading consumer publication rated Valspar Reserve the No. 1 zero VOC paint in the U.S.; and in the
same publication our brands represented four of the top eight ranked
paints, Hendrickson stated. Strong consumer demand for our
products, combined with world-class in-store execution, resulted in
solid retail sell-through of Valspar products in North America.
Internationally, Valspar continued to grow its business through
extension of its brands and channels of distribution and new retail partnerships. In the UK, Valspar expanded its partnership with
B&Q, both in the store and through increased training and support.
In Australia and New Zealand, Valspar reported strong volume
growth in its trade paint stores, at its independent retail partners
and in the home improvement channel. Valspars growth in the
China market was driven by new products, product line extensions
and significantly increased points of retail distribution.
Our strong tradition of community involvement plays a significant role in employee satisfaction, and we are proud to provide grants and volunteer opportunities focused on strengthening
communities, said Hendrickson. As the national paint partner
for Habitat for Humanity, Valspar donates paint for every Habitat
home built or restored in the United States. To date, Valspar has
provided two and a half million gallons of paint, and our employees
have logged thousands of hours of volunteer time. In 2015, we
signed a new five-year agreement placing Valspar on the path to
becoming a $100 million cumulative donor to Habitat for Humanity by 2019.
New Product Launches in 2015

Valspar spray products: Milk Glass, Chalky Finish, Color Radiance, Project Perfect and Outdoor spray
Cabot Gold exterior stain
Lifeshield industrial flooring coating
Valspar Aquaspar and Valspar Duraspar coating solutions for
rail cars
Fluropon Effects, a new line of dimensional colors in its architectural coatings product line
Valspar chalky finish paint
62 08Valspar 0716.indd 62
Ireland, EVP and president, global consumer paints; Sam

Shoemaker, SVP global packaging, packaging coatings;
Joao Benites, SVP, global coil, coil coatings; Greg Wagner,
SVP, global general industrial, general industrial coatings;
and Brent Jewell, VP and GM global performance
coatings, wood coatings.
July 2016
6/27/16 3:28 PM
Dry-Film Preservatives
Wet-State Preservatives
Polyphase Fungitrol Troysan
Mergal Nuosept
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Visit www.troycorp.com to see how Troys premier portfolio of preservatives has been
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AD TEMP0415.indd 1
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Top Companies
09
2016

Philadelphia, PA/USA
www.axaltacoatingsystems.com
PUBLICLY HELD
MARKETS SERVED
Automotive OEM Collision repair Industrial Coatings
Commercial Transportation
KEY EXECUTIVES
Charles. W. Shaver, chairman and CEO; Robert Bryant,
EVP and chief financial officer; Nigel Budden, VP, global
customer excellence; Michael Cash, SVP and president,
industrial coatings; Jorge Cossio, president, Latin America
region; Michael F. Finn, SVP and general counsel; Mattias
Schenberg, president, Europe, Middle East and Africa
region; Martin Horneck, SVP and chief procurement
xalta Coating Systems is a global supplier of coatings to

the transportation and industrial sectors. The company
posted sales of $4.1 billion for 2015. Transportation Coatings (light vehicle OEM and commercial vehicles) comprised $1.702
billion of sales and Performance Coatings (industrial and refinish)
comprised $2.385 billion. The company currently employs approximately 12,800 people and has 12 locations in Asia-Pacific, nine in
Europe, Middle East and Africa, ten locations in North America and
seven locations in Latin America (including Mexico) producing
liquid or powder coatings.
and logistics officer; Dan Key, SVP, operations and

supply chain; Luke Lu, VP and president, China;
Steven Markevich, EVP and president China; Joseph F.
McDougall, SVP and chief human resources officer; Rajeev
S. Rao, VP, strategy and business development; Sobers
Sethi, VP, South and East Asia region; Barry S. Snyder, SVP
and CTO; Aaron D. Weis, VP and CIO.
The company launched a number of new products to market.

Some key highlight for 2015 include:
Abcite powder coatings, which received NSF/ANSI 61 certification for use in drinking water system componets
Launched new epoxy primer TRPE35 for the trailer industry
Voltatex 4204 electrical insulation coatings receive UL global
certification
Launched new Rival products for economy commercial transportation market
Launch Ganicin zinc-rich coatings.
Success Story
Michael Cash, President Industrial Coatings
In 2016, Axalta Coating
Systems is celebrating its
150th year anniversary as a
coatings leader. This is an
important milestone for our
company, as it reinforces our
decades of experience in the industry and,
just as importantly, our ability to use that
foundation for future growth.
In addition to being able to provide our
customers with innovative colors and improved performance of our paint coatings,
we are able to offer comprehensive support
in understanding what their customers are
looking for, what their competition can currently offer and help bridge that gap to play
an important role in helping our customers
gain new business. Weve been able to mirror this in the industrial coatings segment
by launching a significant number of new
products, new warranties and new customer
programs in the segments we have focused
upon over the past year. Our extensive Alesta,

Abcite and Nap-Gard powder products along
with AquaEC electrocoats, Imron industrial
coatings, Ganicin primers and Voltatex Energy
Solutions liquid coatings met different niches
around the world and have opened up new
business opportunities for our customers.
Last year also continued Axaltas investment for growth story. We commissioned
two major expansions that will increase our
capacity to produce waterborne coatings,
one in the Jiading district of Shanghai and
the other at what is already our largest operations center in Wuppertal, Germany. We also
announced two major investments that will
support Axaltas product research and development. At The Navy Yard in Philadelphia Axalta will construct a Global Innovation Center
which will be the hub of our global research,
process development and customer support
technologies. We also began construction on
a new Technology Center in Shanghai.
Its an exciting time to be in the coatings
industry. Our established focus on scientific
and technological development has allowed
64 09Axalta 0716.indd 64
us to solve increasingly complex coating problems, and offer our customers innovative new
products and services.
In Industrial Coatings, our Energy Solutions impregnating resins are used to protect
more than 55 percent of electric vehicles,
globally. Weve recently introduced a tin-free
technology used in our electrocoat coating
AquaEC 6100, to help meet environmental
goals. The U.S.-made AquaEC 6100 E-Coat
also received Caterpillar approval to their
specification 1E2732F. Our products help
meet sustainability goals across our Transportation Coatings operations as well. The
growing popularity of our waterborne coatings fulfills the increasing interest in low emission coating technology among light vehicle
OEMs. Our high solids solventborne coatings
enable customers to use existing facilities,
including those in China, while still lowering
their impact on the environment. As the automotive sector incorporates new substrates to
help light-weight vehicles, weve moved with
them by offering coatings that are formulated
for use over plastics and composites.
July 2016
6/27/16 3:29 PM
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Top Companies
10
2016
BASF Coatings
Muenster, Germany
www.basf-coatings.com
PUBLIC COMPANY
MARKETS SERVED
Automotive OEM Automotive refinish
Commercial vehicles Decorative coatings

Industrial coatings
KEY EXECUTIVES
Markus Kamieth, president, BASF Groups Coatings
Division; Martin Jung, Automotive OEM Coatings Solutions
ASF Coatings is a division of BASF SE. BASFs Coatings division develops, produces and markets innovative automotive
coatings, automotive refinishes and industrial coatings as well
as decorative paints. BASF Coatings operate sites in Europe, North
America and South America as well as Asia Pacific. Within this
network, the company collaborates closely with its customers all
over the world. In 2015, the Coatings division achieved global sales
of $3.607 billion. Europe represents 40 percent of total sales, Asia
Pacific 23 percent, North America 18 percent and South America,
Africa and Middle East 19 percent.
BASF and AkzoNobel have reached a general agreement on the
sale of the industrial coatings business of BASFs Coatings division
to AkzoNobel for $541.206 million. The transaction would include
technologies, patents and trademarks, as well as the transfer of
two dedicated production sites, one in Deeside, England, and one
in Vanderbijlpark, South Africa. BASF and AkzoNobel intend to
finalize and sign detailed transaction documents in due course. The
planned transaction is subject to the required consultation with employee representatives and certain regulatory approvals. BASF and
AkzoNobel intend to complete the transaction by the end of 2016.
BASFs industrial coatings business generated sales of approximately $341.814 million in 2015 and supplies products for a number of end uses, including coil, furniture foil and panel coatings,
as well as coatings for wind energy plants, general industry and
commercial transport. We have successfully developed our global
industrial coatings business over the last years with a clear focus on
attractive market segments. To further develop the business, we see
positive growth prospects under the umbrella of AkzoNobel, which
is a leading global player in industrial coatings, said Markus Kamieth, president of BASFs Coatings division. With this transaction,
BASF will further strengthen its focus on its core automotive OEM
and automotive refinish coatings businesses as well as the leading
decorative paints business with its brand Suvinil in Brazil.
BASF has signed an agreement to acquire the assets of Guangdong Yinfan Chemistry Co., Ltd. in China. With this acquisition,
BASF will establish a stronger coatings production footprint by
gaining access to a state-of-the-art automotive refinish coatings
plant in China. It will also enable BASF to broaden its automotive
refinish portfolio in Asia Pacific by adding the Yinfan line of products to its successful global brands including Glasurit, R-M, baslac
and Norbin.
The acquisition underlines our strong commitment to growing

our automotive coatings business and further investing in emerging
markets, said Kamieth. With this acquisition, we will broaden
our portfolio and gain access to a strong distribution network,
which will strengthen our position in the fast-growing Chinese automotive aftermarket.
The closing is expected in the second half of 2016, subject to necessary regulatory, statutory and other approvals. Both parties have
agreed not to disclose financial details of the transaction.
Automotive Coating by BASF Honored with

Design Award
BASF Coatings recently launched XSpark, an exclusive color effect for
automotive OEM coatings that sparkles with particular brilliance in direct sunlight. Tiny glass particles that reflect light more precisely than
other effect pigments are applied together with the paint layer in a
single step. The resulting homogenous surface provides a pure solidcolor reflection with particular depth, a complex paint effect that creates a high-quality, elegant-looking coating without being intrusive.
This innovation product has already won several international
awards, including the prestigious Red Dot Award: Product Design.
For the first time in the 60-year history of the competition, an OEM
automotive paint has been awarded the coveted Red Dot. The
38 jurors, all of whom are independent design experts, chose the
winners from among the 4,928 submissions from all areas of industrial design. The evaluation criteria included the products degree
of innovation, its durability and its symbolic and emotional content.
66-67 10BASF-12KCC 0716.indd 66
Europe; Katja Scharpwinkel, Automotive Refinish Coatings

Solutions Europe, Jan Baumgartner, Industrial Coatings
Solutions Europe; Chris Toomey, Coatings Solutions North
America; Peter A. Fischer, Coatings Solutions Asia Pacific;
and Marcos Allemann, Business Management Decorative
Paints Solutions South America.
July 2016
6/27/16 3:30 PM
2016
Top Companies
Kansai Paint Co., Ltd.

Osaka, Japan
www.kansai.com
PUBLIC COMPANY
MARKETS SERVED
Automotive coatings Decorative coatings Industrial
coatings Marine and protective coatings
perating in Japan, Europe, the U.S., Southeast Asia, India

and China, Kansai Paint Co. Ltd. offers a broad range of
coatings solutions for various markets. It divides its business into automotive (38 percent), industrial (25 percent), decorative
(27 percent), and marine and protective (6 percent) segments.
Kansai Paint operates three automotive paint plants from its
headquarters in Osaka, Japan and is the leading supplier of automotive coatings to Toyota, Suzuki, Nissan, Honda, Peugeot and
Renault worldwide.
Kansais Business Overview by Segment Japan: In the automotive OEM coatings market sector, sales increased due to higher
demand from key customers and other factors. Sales rose slightly in
the marine coatings sector, partly as a result of an underlying recovery trend in the domestic market. In the industrial coatings, decorative coatings, protective coatings and automotive refinish paints
KEY EXECUTIVES
Hiroshi Ishino, president; board of directors: Kunishi
Mouri, Masaru Tanaka, Koji Kamikado, Hidenori
Furukawa, Jun Senoo.
sectors, market conditions were weak, and demand declined. India:

In the automotive coatings sector, sales increased for reasons including gradual recovery in automobile production and an increase in
production at key customers. Sales rose sharply in the decorative
coatings sector as well thanks to buoyant domestic demand spurred
by growth in the Indian economy following the inauguration of a
new government. Asia: In China, sales in the automotive coatings
sector increased on continued economic growth, despite sluggish
demand from key customers. with no sign of recovery from a decline in automobile production. Africa:A lthough the South African
economy was weak, sales continued to increase as a result of sales
promotion efforts. Other Regions: In Turkey, the automotive sector made a particularly important contribution to improvement of
business performance thanks to factors including higher production
at key customers and the capturing of new demand.
KC Corporation
Seoul, South Korea
www.kccworld.co.kr/eng
PUBLIC COMPANY
MARKETS SERVED
Marine and container Automotive coatings
Automotive refinish General industrial coatings
Decorative coatings Powder coatings
orea Chemical Co., Ltd. is the largest paint producer in

South Korea. The company is involved in the production
of paints for automobiles, ships, containers, construction
and industrial use. It also manufactures PVC material for flooring
and paint sealant.
Paint for the marine market is the largest segment and
accounted for 25 percent of sales. Automotive OEM sales
amounted to 17 percent of sales; decorative coatings accounted
for 15 percent; general industrial six percent; powder coatings
six percent; auto refinish four percent; and the remainder of
sales is not detailed.
Following the acquirement of Atopy Safe Mark for all KCC
flooring materials for the first time in Korea, KCC has launched
KCC SUP Green Pyeonbaek which is an eco-friendly flooring material that contains natural phytoncide.
12
KEY EXECUTIVES
Mong Jin Chung, chairman; Mong Ik Chung, CEO; Yoo
Sungki, executive director.
The KCC SUP Green Pyeonbaek is a product that has upgraded

the eco-friendliness of flooring materials to the next level by actively
reflecting the demands of consumers who prefer eco-friendly products even for interior materials such as flooring and windows.
Phytoncide is a natural antibacterial substance that is discharged
by trees to fight off pests and germs, and through its sterilization
effect, it is known to inhibit reproduction of dust mites that can
induce atopic diseases.
KCC SUP Green Pyeonbaek is a light linoleum with a thickness
of 1.8mm It is a flooring material for use in homes. The product offers excellent sterilization and deodorizing effects because it contains
cypress tree oil extracts in the UV coating layer. The UV coating
layer is the upper most layer of PVC flooring materials, which is
made with several layers of different types of sheets. It highly durable as it comes in direct contact with users.
67 Kansai-KCC 0716.indd 67
11
Coatings World | 67
6/27/16 3:31 PM
Top Companies
13
2016
3M
St. Paul, Minnesota/USA
www.3M.com
PUBLIC COMPANY
MARKETS SERVED
Adhesives and sealants Pipe coatings
KEY EXECUTIVES
Inge G. Thulin, chairman, CEO and president; Julie
Bushman, senior VP, business transformation and
information technology; Nicolas Gangestad, senior VP and
CFO; Paul Keel, senior VP supply chain; Ashish Khandpur,
senior VP, R&D and CTO Jon Kindekugel, senior VP,
M Company is an American multinational conglomerate

corporation. 3M employs 88,000 people worldwide and
produces more than 55,000 products, including: adhesives,
abrasives, laminates and passive fire protection. 3M has operations
in more than 65 countries including 29 international companies
with manufacturing operations and 35 companies with laboratories. 3M products are available for purchase through distributors
and retailers in more than 200 countries, and online directly from
the company.
3M and the Minnesota Vikings have just announced a 10-year
agreement naming 3M the Official Science Partner of the team. The
stadium builders and architects used more than 50 3M products,
including graphic films and architectural finishes, throughout the
stadium.
14
One of the cool science-based 3M products Ethylene Tetrafluoroethylene polymer (ETFE) is extruded to a clear, lightweight
film used on the roof panels. It lends the stadium the best of both
worlds protecting players and fans from the elements while letting
in sunlight for an open-air feel. It has only a fraction of the weight
of glass, is flexible, and has non-stick properties that encourage the
snow to slide right off, especially helpful in Minnesota.
The stadiums 248,000 square-foot roof is covered by 75 threelayer ETFE film cushions, making it the first and largest stadium in the U.S. to use a ETFE roof. The film is designed with a
geometric print pattern which scatters the sunlight and prevents
a greenhouse effect in summer, but protects fans from frigid temperatures in the winter. It is also only approximately five percent
of the weight of glass.
Asian Paints Limited

Mumbai, India
www.asianpaints.com
PUBLIC COMPANY
REVENUE: $2.3 billion ts (2014: $2.3 billion)
MARKETS SERVED
Architectural coatings Industrial coatings
Automotive coatings
sian Paints had sales of $2.3 billion for 2015. Architectural/

decorative coatings comprised 90 percent of sales and industrial and automotive coatings comprised the rest.
Asian Paints is one of the leading paint companies in India.
Along with its subsidiaries, it has operations in 19 countries with
26 paint manufacturing facilities, serving consumers in more than
65 countries.
Key brands in India include for exterior walls: Apex, Ace, Apex
Ultima, Apex Ultima Protek and Apex Duracast; interior walls:
Royale, Royale Aspira, Royale Play, Tractor, Premium Emulsion,
Apcolite and Utsav; metal surface: Utsav, Premium Enamel and
wood: PU, Touchwood and Polyester.
KEY EXECUTIVES
K.B.S. Anand, MD and CEO; Amit Syngle, president
architectural coatings, India; Jalaj Dani, president
international operations; Jayesh Merchant, CFO and
company secretary, president, industrial JVs India.
PPG Asian Paints Lanka Ltd., a joint venture between PPG and Asian
Paints recently launched ENVIROBASE High Performance (HP) automotive refinish paints in Sri Lanka. It is the first eco-friendly waterborne
automotive paint introduced in Sri Lanka for use by the refinishing industry. Prestige Automobiles (Pvt) Ltd. is the first PPG Asian Paints customer
in Sri Lanka to convert to using the waterborne products in its operation.
The Envirobase HP line is the leading premium waterborne
basecoat refinishing system globally, according to Biju Ramachandran Nair, country manager for PPG Asian Paints He said introducing the Envirobase line in Sri Lanka will enable local refinishers to
use the latest technology that is approved by most of the worlds
leading automotive brands.
68-69 3M-HBFuller 0716.indd 68
business development and marketing sales.
July 2016
6/27/16 3:40 PM
2016
Top Companies
H.B. Fuller Company

St. Paul, Minnesota/USA
www.hbfuller.com
PUBLIC COMPANY
MARKETS SERVED
Adhesives
KEY EXECUTIVES
Jim Owens, president and CEO; Zhiwei Cai, vice
president, Engineering and Electronics; Heather Campe,
vice president, Asia Pacific; Elin Gabriel, vice president,
Global Operations; James Giertz, executive vice president
and CFO; Traci Jensen, senior vice president, Americas;
.B. Fuller Company is a global manufacturer and marketer of adhesives and other specialty chemical products. The company is managed through four regional
operating segments in North America, Europe, Latin America
and Asia Pacific. The largest business component in each of the
regional segments is adhesives. H.B. Fuller posted sales of $2.04
billion in 2015.
The company recently made a number of acquisitions. H.B.
Fuller Company has finalized the previously announced purchase of
Advanced Adhesives, a provider of industrial adhesives in Australia
and New Zealand.
Serving a wide range of industries, including consumer packaged goods, woodworking and product assembly applications, the
EMImills
PILOT MILLS
For laboratory
scale up & small
batch production.
15
Timothy Keenan, vice president, general counsel and

corporate secretary; Steven Kenny, senior vice president,
Emerging Markets; Patrick Kivits, senior vice president,
Europe, India, Middle East and Africa.
Advanced Adhesives business generated approximately $17 million

in revenue for the 2015 fiscal year. Based in Sydney and Auckland,
this new business will be included in H.B. Fullers Asia Pacific operating segment.
H.B. Fuller Company has also signed an agreement to purchase
Cyberbond, L.L.C., a global provider of a global provider of industrial adhesives for the electronics, medical, audio equipment, automotive and structural markets.
Founded in 1997, Cyberbond is headquartered in Batavia, Illinois, with European operations based in Wunstorf, Germany. The
company generated revenue of approximately $15 million in fiscal
2015 and will be included in H.B. Fullers Engineering Adhesives
operating segment.
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your dispersions.
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recirculation milling.
Engineered Mills, Inc.
888 E. Belvidere Road - U214

Grayslake, Illinois 60030 USA
LABORATORY
DISPERSERS &
MIXERS
0.5 THRU 5 HP
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available
Tel: 847-548-0044
Fax: 847-548-0099
E-mail: sales@EMImills.COM
WWW.EMImills.COM
Untitled-6 1
68-69 3M-HBFuller 0716.indd 69
Coatings World | 69
2/24/15 12:55 PM
6/27/16 3:40 PM
Top Companies
16
2016
Masco Corp.
Taylor, Michigan/USA
www.masco.com
PUBLIC COMPANY
REVENUE: $2.02 billion s (2014: $2 billion)
MARKETS SERVED
Architectural coatings
asco Corp. reported net sales of $2.02 billion, representing 23 percent of total net sales for Masco. The
company produces architectural coatings including
paints, primers, specialty paint products, stains and waterproofing
products. The products are sold in the U.S. and Canada through
do-it-yourself channels under brands including Behr and Kilz. The
firms high profile Behr products are sold through The Behr Process Corporation to The Home Depot, the segments and the companys largest company.
As an expansion of its BEHR PRO professional grade paint
line, Behr Paint has added a variety of quality coatings to its
product lineup in 201 BEHR PREMIUM Interior/Exterior
Direct-To-Metal Paint, BEHR PRO Dryfall Paint, BEHR PRO
Block Filler Primer, KILZ 2 Latex Gray and BEHR PREMIUM
Granite Grip Coating. These new products, along with the BehrPro paint line that launched in 2015, provide a full breadth of
17
KEY EXECUTIVES
Keith Allman, president and CEO; Amit Bhargava, vice
president, strategy and corporate development.
products for the professional at the right price and at quality

levels that exceed expectations, the company reported. Additionally, professionals have access to enhanced service capabilities at
SuperCenter distribution locations across the country that can
provide product specs, color-matching, high-volume order fulfillment and detailed account management to tackle any size project
from residential to commercial.
With the launch of our BEHR PRO Professional paint line
and the development of these new products, Behr is giving professionals the tools that they need to get the job done right no
matter what type of substrate theyre working with, said Kelly
Kambs, senior vice president of Professional Products & Services
for Masco Coatings Group. This, coupled with our enhanced
service offerings and high-speed tinting capabilities at SuperCenters across the nation, demonstrates our commitment to all professional market segments.
Hempel A/S
Kgs. Lyngby, Denmark
www.hempel.com
PRIVATE COMPANY
MARKETS SERVED
Architectural Marine and protective coatings
Container coatings Yacht coatings Decorative

coatings
KEY EXECUTIVES
Henrik Andersen, group president & CEO; Anders
Boyer-Sgaard, group executive vice president & CFO;
rotective coatings supplier, Hempel, recorded sales of $1.734

billion in 2015. Hempel employs approximately 5,500 people
and is present in more than 80 countries and has 28 factories,
R&D centers and more than150 stockpoints around the globe.
The company offers protective coatings for oil and gas, chemical plants, infrastructure, rail, mining and metal processing, pipelines and power generation. In the marine segment the company
provides marine maintenance and marine newbuilding products.
Hempel also offers both interior and exterior decorative coatings.
Hempel acquired Schaepmans Lakfabrieken B.V, a Netherlandsbased specialist coatings manufacturer with proven expertise in protective and industrial coatings. Hempel also acquired Jones-Blair, a
leading North American supplier to the protective and waterproof-
ing markets with a complementary set of skills, products and customers. Hempels Protective offerings was bolstered in 2015 by the
addition of Jones-Blair products, including the Neogard range of
vehicular and pedestrian traffic coatings, protective roof coatings,
seamless flooring coatings and elastomeric wall coatings.
Hempel has completed constructiton of its first factory in Russia.
This event marks an important step towards fulfilling a vision of
providing increased local support and service to customers in Russia
and the wider Eurasian region. This new factory is Hempels 28th
globally, and in Russia, it is the companys first site for locally produced coatings. The Ulyanovsk factory will produce anticorrosive
coatings for the marine repair and shipbuilding, infrastructure, oil
and gas, mining and power segments.
70-71 16Masco-18DAW 0716.indd 70
Lars Petersson, Group Executive Vice President & COO

Marketing directors: Klaus Moeller (Protective), Christian
Ottosen (Marine), Thomas C. Olsen (Yacht); Monica Li
Aviram (Decorative).
July 2016
6/27/16 4:17 PM
2016
DAW (Deutsch
AmphibolinWerke)
Ober-Ramstadt, Germany
www.caparol.de
Top Companies
Best Under
the Sun
18
With exceptional tint retention, chalk resistance

and photochemical stability, MINEX additions
can enhance the color and extend the service
life of aqueous and solvent based architectural
paint. Forty years of real time exterior
exposure tests verify MINEX is the best
functional filler under the sun.
PRIVATE COMPANY
REVENUE: $1.53 billion s (2014: $1 billion)
MARKETS SERVED
KEY EXECUTIVE
Ralf Murjahn, CEO, Christoph Hahner, executive board member R&D.
he parent company of the Caparol Group is the Deutsche

Amphibolin-Werke von Robert Murjahn Stiftung & Co. KG
(DAW). Since 1895 DAW has developed, produced and sold
innovative coating systems. As an independent family company in
its fifth generation, DAW has continued to grow to become the third
largest manufacturer of building paints in Europe and is the market
leader in Germany, Austria and Turkey. DAW has approximately
5,600 employees.
The Caparol brand is the leading brand within the DAW
Group. The marketing activities are subdivided into six strategic business units. In the professional business unit high quality paints, enamels, glazes, chemical building products and
materials for facades and insulation technology are marketed
under the brands Caparol, Alligator and Alsecco for professional users. The building protection sector is covered by the
brand DISBON and with LITHODECOR DAW SE serves the
business field of curtain-wall, back-ventilated facades in glass
or natural stone. Under the brand KRAUTOL a practically orientated range of products in paints and enamels is sold, mainly
through building materials suppliers. The brand INTHERMO
is the companys specialist for sustainable insulating materials
based on wood fiber.
The product range of the brand Alpina, which is active in the
DIY business unit, is mainly composed of environmentally friendly,
low-VOC, easily worked and high quality decorative paints, enamels and glazes and is aimed at the end-user.
The wholesale business unit comprises an extensive range of services for the professional paint wholesalers provided by the company Caparol Marketing Service (CMS).
The industrial business unit is supported by the company Caparol Industrial Solutions whose products and services are exclusively
orientated to the requirements of industrial customers.
Lastly, the Nerchau decorating and artists paints is located in
Saxony and produces high quality paints for educational, hobby and
artistic requirements.
FUNCTIONAL FILLERS AND EXTENDERS
For more information and our complete product portfolio visit:
www.BrilliantAdditions.com
MINEX is
a registered
trademarks.
All rights reserved.
2016
70-71 16Masco-18DAW 0716.indd 71
SPECIALTY AND PERFORMANCE MINERALS
Coatings World | 71
6/27/16 4:17 PM
Top Companies
19
2016
DuluxGroup Ltd.
Clayton, Victoria, Australia
duluxgroup.com.au
PUBLIC COMPANY
REVENUE: $1.24 billion s $887 million
MARKETS SERVED
Industrial coatings
uluxGroup consists of Paints Australia, Australias

leading manufacturer of premium branded decorative paints, texture, protective and wood care coatings
products; Paints New Zealand, New Zealands leading manufacturer of premium branded decorative paints, texture, protective and wood care coatings products; Selleys Yates, which is
Australia and New Zealands leading manufacturer of home
improvement and garden care products; and Offshore and
Other segments which comprises Australia and New Zealands
leading manufacturer of powder and industrial coatings. DuluxGroup employs approximately 4,000 people in Australia,
New Zealand, Papua New Guinea, South East Asia and China and
has a comprehensive, world-class, scalable manufacturing base and
supply chain across 21 main manufacturing sites, 21 distribution
centers and more than 120 company owned trade outlets.
20
KEY EXECUTIVES
Peter Kirby, chairman; Patrick Houlihan, managing director
and CEO; Stuart Bloxer, executive director.
The company announced it will be adding a new factory in Melbourne, Australia. The $165 million investment is on track and is
expected to be up and running by late 2017.
Dulux Australias new color content in the ArchiCAD platform has received praise from users. Users say it is helping them
to save time and assisting with creativity and better documentation. It is a key authoring platform for Building Information
Modelling (BIM) and computer aided design, reported Architecture and Brand.
Introduced as part of Dulux BIM Solutions, the feature
enables designers and specifiers to integrate 4900 free Dulux
color files from Duluxs World of Colour Atlas into ArchiCAD
projects. It is downloadable from dulux.com.au/BIM into ArchiCAD projects.
Jotun AS
Sandefjord, Norway
www.jotun.com
PUBLIC COMPANY
MARKETS SERVED
Decorative paints Marine and protective coatings
Industrial coatings Powder coatings
otun Group is divided into seven regions: Scandinavia, Western

Europe, Eastern Europe and Central Asia, Middle East, India
and Africa, North-East Asia, South East Asia and Pacific and
the Americas responsible for the sale of Decorative Paints and Performance Coatings (Marine, Protective and Powder Coatings). The
company has 33 production facilities in 20 countries, 68 companies
in 43 countries and is represented in more than 90 countries around
the world. Marine coatings comprised 27 percent of sales, Decorative paints 37 percent, Protective coatings 26 percent and Powder
coatings 10 percent.
Following the success of Jotachar JF750 revolutionary mesh-free
epoxy passive fire protection coating, Jotun recently introduced Jotachar 1709, a mesh free epoxy developed specifically for the hydrocarbon processing & energy industries.
Jotachar 1709 has been developed using the revolutionary technology platform behind Jotuns successful Jotachar JF750. Jotachar
JF750 continues to be embraced by the offshore and onshore industries as an alternative to traditional mesh containing solutions
for hydrocarbon pool and jet fire scenarios. Jotachar JF750 is the
preferred solution for operators and installers who wish to remove
risks associated with incorrect mesh installation, whilst benefitting
from significant reductions in installation time.
Jotachar 1709 has been specifically designed to protect steel
against hydrocarbon pool fire scenarios for up to four hours,
as defined within the ANSI/UL1709 Standard. Operators also
benefit from long term corrosion protection, reduced life-cycle
costs and the elimination of any risk associated with mesh installation errors.
72-73 19Dulux-22Chugoku 0716.indd 72
KEY EXECUTIVES
Morton Fon, president and CEO; Brd K. Tonning,
decorative paints; Esben Hersve, performance coatings;
Ram Ramnath, powder; Geir Be; Bjorn Wallentin,
protective.
July 2016
6/27/16 4:24 PM
2016
21
Shawcor
Toronto, Ontario,
Canada
www.brederoshaw.com
PUBLIC COMPANY
REVENUE: $1 billion
MARKETS SERVED
Pipe coatings
KEY EXECUTIVES
V.L. Shaw, chair of the board; W.P.
Buckley, president and CEO; J.D. Tikkanen,
Bredero Shaw.
he pipe coating division of ShawCor Ltd., Bredero Shaw,

is the worlds largest pipe coatings manufacturer. Bredero
Shaw is the global leader in pipe coating solutions for the
oil, gas and water industries, offering a wide range of coating solutions, including anti-corrosion protection, thermal insulation,
negative buoyancy, mechanical protection and internal flow efficiency coatings.
ShawCor Ltd.s Bredero Shaw pipe coating division recently introduced SureBond. SureBond is a new class of line-pipe coating that
provides superior pipe protection and field joint integrity. It uses an
interlocking topcoat molecular structure that solves the difficulties
typical to 3-layer coatings and is half as thick. SureBond eliminates
the adhesive layer and forms a bond with both the field joint and
anti-corrosion layers.
22
Chugoku Marine
Paints
Tokyo, Japan
www.cmp.co.jp
PUBLIC COMPANY
REVENUE: $950 million
MARKETS SERVED
Marine coatings Industrial coatings
Container coatings
Adhesives
KEY EXECUTIVES
Tetsuo Yamazumi, chairman; Masataka
Uetake, president and CEO.
hugoku Marine Paints manufactures paint for ship, industrial and containers uses, as well as adhesives. The company
offers paints for large vessels, pleasure boats and yachts,
marine containers, fishing boats, and fishnets; protective paints for
anti-corrosive protection; paints for building materials and woodworking; functional paints; heavy duty paints; paints for plastics;
and caulking material for railways. It is also involved in the sale
of painting related equipment; management and contract work for
coating; inspection of surface treatment and coating; and other activities. A key product is SEA GRANDPRIX 880 HS hydrolyzing
self-polishing tin free antifouling paint. It utilizes CMPs hydrolyzing technology with hydrolysis compounds. More than 5,000 vessels were coated in the last 11 years including over 3,500 vessels
completing their 60 months in service period successfully to date.
72-73 19Dulux-22Chugoku 0716.indd 73
Top Companies
Coatings World | 73
6/27/16 4:24 PM
Top Companies
23
2016
Cromology
Clichy, France
www.cromology.com
PRIVATE COMPANY
KEY EXECUTIVES
Olivier Legrain, chairman; Bertrand
Dumazy, CEO.
24
Berger Paints
India Ltd.
Kolkata, India
www.bergerpaints.com
MARKETS SERVED
PUBLIC COMPANY
MARKETS SERVED
Decorative coatings Automotive
coatings Industrial coatings
ormerly known as Materis Paints the company changed its

name to Cromology in 2015. The Group ranks second in
France for deco paints and is the market leader in Southern
Europe (Italy, Spain and Portugal). With 10 research labs, 13 production facilities and 9 logistics platforms, Cromology designs and
produces decorative paints and sells and distributes its products in
more than 50 countries around the world, with a direct presence in
9 of them (Argentina, Belgium, France, Italy, Morocco, Portugal,
Spain, Switzerland and Turkey). Cromology operates its own distribution network of almost 400 integrated stores, Couleurs de Tollens, Zolpan, Robbialac and Colori di Tollens Bravo, which serve
more than 50,000 professional clients and hundreds of thousands
of private customers.
25
Benjamin Moore
Montvale, New Jersey
USA
benjaminmoore.com
PRIVATE COMPANY
MARKETS SERVED
Architectural coatings Wood coatings
KEY EXECUTIVES
Michael Searles, CEO; Donald E. Devine,
chief financial officer and vice president
- finance; Ron Schuller chief marketing
officer and senior vice president; Michael
A. Bonner, vice president - technology.
enjamin Moore Natura paint was recently Certified asthma

& allergy friendly by the Asthma and Allergy Foundation
of America (AAFA). This certification comes on the heels of
Natura becoming the 2015 Product of the Year in the interior paint
category and being Cradle to Cradle Certified Silver, making Natura
the most decorated paint by Benjamin Moore.
This is the latest step in our long history and commitment
to manufacturing green paints that are safer for your family and
the environment, said Chris Connelly, director of brand management, Benjamin Moore. With zero emissions and no harsh fumes,
Natura truly is an eco-friendly paint that delivers on performance
and color integrity.
erger Paints India Limited was founded in 1923 and is a

leader in the India paint market. The company manufactures
and markets a range of decorative and industrial paint products and has operations throughout India with seven manufacturing
facilities, more than 135 depots, approximately 3,000 employees
and more than 15,000 dealers. Berger Express Painting (XP) was
launched in 2015 across India. It is an initiative to upgrade the
painting process using technology to make it Faster, Cleaner and
Better. The tools come with an in-built vacuum suction system
which sucks the dust into a bag thereby keeping the surroundings
dust-free and minimizes paint drippage/spillage during painting. The
mechanized painting further process speeds up the surface preparation and painting process ensuring that the painting job is completed
in about half the time as compared to manual processes.
26
SK Kaken
Ibaraki-City, Japan
www.sk-kaken.co.jp
PUBLIC COMPANY
MARKETS SERVED
Specialty coatings Textured coatings
Architectural paints Industrial coatings
Floor and roof coatings Fire retardant

and heat insulating coatings
KEY EXECUTIVES
Minoru Fujii, president; Masahide
Sakamoto, senior managing director;
Mitsuhiro Fujii, executive director.
K Kaken Co., Ltd. is a Japan-based company mainly engaged

in the manufacture and sale of architectural coatings and insulating refractory materials. The company operates in three
business segments. The Architectural Coatings segment is engaged
in the manufacture and sale of organic and inorganic aqueous coatings, synthetic resin coatings, inorganic coatings and inorganic
building materials. The Insulating Refractory Materials segment is
engaged in the manufacture and sale of heat insulation materials,
fire-retardant and insulating coatings, as well as fireproof paints.
The company had 14 subsidiaries. The company has approximately
1,782 employees. SK Kaken was founded in 1955 and is headquartered in Ibaraki-City, Japan.
74-75 23 Crom-28 Tikk 0716.indd 74
KEY EXECUTIVES
Abhijit Roy, managing director and CEO;
Srijit Dasgupta, director finance and
CFO; Aniruddha Sen, senior VP and
company secretary; Tapan Dhar, vice
president, technical director.
July 2016
6/27/16 4:34 PM
2016
27
Wilh. Becker
Hoganas, Sweden
beckers-group.com
PRIVATE COMPANY
MARKETS SERVED
Industrial coatings Coil coatings
Consumer design finishes
KEY EXECUTIVES
Boris Gorella, CEO; Karsten Eller, COO,
Nathalie Benedikt, CFO; Olivier Laune,
CAO; Bernd Vogel, CTO; Dott.Giordano
Mettus, Global HRD; Christophe Sabas,
president CC EA&A.
eckers is a privately-owned, global industrial coatings company with Swedish roots, providing products and services
across many manufacturing sectors. Operations currently
span five continents in some 18 countries and at 22 sites. It aims to
be the industry leader in strategically chosen segments and regions,
to be highly regarded customers for dedication and professionalism
and to be known as the most sustainable coatings company. In 2015
sales increased by 6 percent in Swedish Krona. The company opened
sites in Indonesia, Turkey and Mexico in the past two years, as well
as establishing a presence in Argentina. For 2016 the company reported that businesses are well on track to attain long-term strategic
goals with a continued focus on European markets and attractive
development regions.
28
Tikkurila Oyi
Vantaa, Finland
www.tikkurila.com
PUBLIC COMPANY
MARKETS SERVED
Decorative coatings
Top Companies
KEY EXECUTIVES
Erkki Jarvinen, president and CEO; Jukka
Havia, CFO; Petri Miettinen, VP, supply
chain and HSEQ; Anna-Lena Hogfeldt, VP,
group marketing; Kenneth Sundberg, VP,
R&D; Janno Paju, VP, East.
ikkurila Oyj is a Finnish manufacturer of paints and lacquers. Tikkurila is the market leader in decorative paints in
Russia, Sweden, Finland and the Baltic countries. Russia,
Sweden, Finland and Poland account for 80 percent of the Groups
revenue. Tikkurila has decided to change its business model in the
Ukrainian and Belarussian markets, and has entered into an agreement to sell the entire share capital of its subsidiaries in Ukraine and
Belarus to a company established by Tikkurilas local management.
The new company will continue the distribution of Tikkurilas products in both countries. The combined revenue of the two companies
to be sold was approximately 12 million in 2015, and the number
of employees totaled 90. It is estimated that the transaction, subject
to fulfilment of agreed preconditions, will be closed during the second quarter of 2016.
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74-75 23 Crom-28 Tikk 0716.indd 75
Coatings World | 75
6/27/16 4:34 PM
Top Companies
29
2016
Dai Nippon Toryo

Osaka, Japan
www.dnt.co.jp
PUBLIC COMPANY
MARKETS SERVED
Protective coatings Architectural
coatings Metal baking coatings Plastic
coatings Automotive coatings Rolling

stock coatings
KEY EXECUTIVES
Toshijiro Iwasa, president; Norihiro
Mashima, director of finance, executive
officer,
ai Nippon Toryo Co., Ltd. operates in the paint industry

primarily in Japan. The company offers various coating
products, which include heavy duty, industrial, automobile, refinishing, marine, home use paints, plastics and powder. The
company also provides machines and equipment for paints manufacturing and coating applications. In addition, it offers its products in various fields, including electrical home appliances, housing,
automobiles and information-related equipment, as well as for
infrastructures, including high-rise buildings and largescale bridge
construction. Dai Nippon Toryo Co., Ltd. formed a joint venture
with Kuboko Paint Co., Ltd., which is a consolidated subsidiary
of Kansai Paint Co., Ltd., under the name Japan Powder Coating
Manufacturing Co., Ltd.
31
Fujikura Kasei
Co. Ltd.
Tokyo, Japan
www.fkkasei.co.jp
PUBLIC COMPANY
MARKETS SERVED
Plastic coatings Architectural coatings
Automotive coatings
KEY EXECUTIVES
Daisuke Kato, president; Hikoji Ueda,
senior vice president; Yoshizo Shimoda,
senior vice president; Hisashi Kajiwara,
executive director: Hiroaki Watanabe,
Masahiro Takano and Satoshi Watanabe.
ujikura Kasei Co. Ltd. offers coatings for plastics, which include automotive interior and exterior, automotive lightings,
cosmetic containers and enclosures, electronic appliances,
plastic hobby items and plastic sheets; architectural coatings, such as
exterior and interior building materials, decorative items and housing equipment; and electronic materials
The company also provides architectural coatings for use in exterior and interior building materials, public buildings and facilities,
decorative items, and housing equipment; and electronic materials,
including conductive paste.
30
PUBLIC COMPANY
MARKETS SERVED
Adhesives and sealants Construction
coatings Specialty coatings
KEY EXECUTIVES
M. B. Parekh, chairman.
ince its inception in 1959, Pidilite Industries Limited has been

a pioneer in consumer and specialty chemicals in India. Over
two-third of the companys sales come from products and segments it has pioneered in India.
The companys product range includes adhesives and sealants,
construction and paint chemicals, automotive chemicals, art materials, industrial adhesives, industrial and textile resins and organic
pigments and preparations. Most of the products have been developed through strong in-house R&D, the company reported.
32
Ring International
Holding
Vienna, Austria
www.ringholding.com
PRIVATE COMPANY
MARKETS SERVED
Metal coatings Wood coatings
KEY EXECUTIVES
Executive Board: Ralph-Leo Lanckohr;
Management Board of Helios Group Coatings Divison: Hubert Culik and David
Kubala, CEO and member of the board of
directors.
ing International Holding is an Austria-based company with

approximately 3,000 employees and 21 production sites located throughout Europe.
Ring became the new majority shareholder of the Slovenia coatings group Helios Domale, d.d. With approximate revenue of
$594 million, a joint production capacity of almost 170,000 tons of
liquid and powder coatings, resins and decorative coatings and 15
production sites, the coatings group is among the top 10 European
coatings producers.
76-77 29 DaiNippin - 34Brillux 0716.indd 76
Pidilite Industries
Limited
Mumbai, India
www.pidilite.com
July 2016
6/27/16 4:29 PM
2016
33
Dunn-Edwards
Los Angeles, California
USA
www.dunnedwards.com
PRIVATE COMPANY
MARKETS SERVED
Architectural coatings Industrial
coatings
KEY EXECUTIVES
Ken Altergott, president & CEO; Robert
Hill, ex. VP and CFO; Nicholas J.
Hess, sr. VP, operations; Mark Alling
- VP, manufacturing; Peter Girgis- VP
Information Systems/ CIO.
unn-Edwards, founded in 1925, operates more than 110

stores in five western states: California, Arizona, New
Mexico, Nevada and Texas. It supplies architectural and
industrial coatings, providing a complete line of paints and professional painting supplies to architects, designers, painting contractors, homebuilders and property managers in the Southwest; it also
serves DIYers although professionals account for a majority of sales.
Dunn-Edwards Paints has introduced New and Improved Duraflo
Premium (50) Semi-gloss and (60) Gloss paints lines. These are interior enamels formulated with advanced waterborne alkyd technology, ideal for use on interior walls, trim, moulding, cabinets, doors,
kitchens, baths and high traffic areas. New and Improved Duraflo
50 and 60 Premium lines develop hard, durable finishes that have
excellent adhesion, hide, block resistance and reduced yellowing.
34
Top Companies
Brillux GmbH & Co.

KG
Muenster, Germany
www.brillux.com
PRIVATE COMPANY
Floor coatings Industrial coatings

KEY EXECUTIVES
Peter Knig, CEO.
MARKETS SERVED
rillux is now in its fourth generation of independent ownership by the Knig family. The companys headquarters is in
Muenster, Germany and currently employs 2,400 employees
and has four production facilities. Brillux is a manufacturer and direct supplier offering a complete range of paints and varnishes. The
complete range encompasses more than 12,000 products.
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117 Moonachie Avenue, Carlstadt, NJ 07072

Phone: (201) 438-7878 n Toll Free: (800) 722-3507
76-77 29 DaiNippin - 34Brillux 0716.indd 77
Coatings World | 77
6/27/16 4:29 PM
Top Companies
35
2016
National Paints Factories Co.

Dubai, United Arab
Emirates
national-paints.com
PRIVATE COMPANY
MARKETS SERVED
Protective/Marine coatings Automotive
coatings Wood finishes

KEY EXECUTIVES
Michael Faeq Sayegh, chairman, NP Group;
Ibrahim Faeq Sayegh, vice chairman NP
Group and technical director; Samer Saleem
Sayegh, managing director NP Group.
ational Paints, the mother company of Sayegh Group,

ranks number one in the Middle East and Arab world
in both sales and production The company owns fourteen paint factories and three resin plants worldwide and originally
started in Jordan then United Arab Emirates. The company currently has 2,176 employees. The factory in Sharjah specializes in
paints production of all kinds. Other similar factories were established in Qatar, Sudan, Palestine, Kyrgyzstan, Kazakhstan, Oman,
Romania and Egypt. In addition to several showrooms in Syria and
Lebanon, National Paints also exports to more than 60 countries
worldwide. Architectural/decorative comprises 36 percent of sales,
general industrial 44.7 percent, marine/yacht 1.2 percent, auto refinish 4.4 percent, powder 3.4 percent and wood finishes 11.5 percent.
37
Noroo Paint Co. Ltd.

Anyang-Si, South Korea
www.noroo.co.kr
PUBLIC COMPANY
coatings Automotive refinishes

KEY EXECUTIVE
Soo-Kyoung Kim, CEO.
36
Lord Corporation
Cary, North Carolina
USA
www.lord.com
PRIVATE COMPANY
MARKETS SERVED
Automotive aftermarket adhesives
Industrial metal bonding adhesives
ord Corp. produces and sells general purpose and specialty

adhesives and coatings. Lord Fusor aftermarket adhesives are
used to return vehicles to pre-accident condition and include
adhesives for bonding, metals and plastics, seam sealers and acoustical foams. Lords industrial metal bonding adhesives can replace
welds, rivets, screws, tape and other traditional fastening methods.
Lord also has a line of elastomer bonding formulations that can accommodate commercially available elastomers, diverse metals and
rigid plastic substrates. Lord manufacturers corrosion control coatings, the MetalJacket line of coatings that protects substrates against
corrosion and improves bonding properties. Lord also offers heat
reflective coatings. Lord has 16 manufacturing facilities, eight R&D
centers and 90 sales and support centers worldwide.
38
Samhwa Paints
Industrial
Gyeonggi-do, Korea
www.spi.co.kr
PUBLIC COMPANY
REVENUE: $440
MARKETS SERVED
MARKETS SERVED
Architectural Coatings Floor and
oroo Paint Co., Ltd. engages in the manufacture and sale

of paints and coatings worldwide. Its products include
architectural coatings, which comprise natural paint,
general coatings, functional coatings and Decopia; waterproof and
floor coatings; decorative coatings, such as lacquers, polyurethane
paints, cracking paints and wood stain; primer and topcoat heavy
duty coatings; and industrial coatings, including metal coatings and
pattern finishes. The company also offers coating equipment; and
coatings for auto refinishes and plastic finishes, as well as coil coatings. The company was founded in 2006 and employs 650 people.
Architectural coatings account for 43.5 percent of sales while industrial coatings make up 24.5 percent, automotive refinishes 14.2
percent and others comprising 17.8 percent.
Protective Coatings Industrial Coatings

Powder Coatings Car Refinishes
KEY EXECUTIVES
J.Y. kim, CEO; S. Huh, COO; J.S. Oh vice
president.
amhwa Paints Industrial Co., Ltd. celebrated its 70th anniversary this year. At Samhwa Paints, approximately 30 percent
of employees are engaged in R&D activities. Samhwa invests
4 percent of revenue in R&D, and the amount increases year after
year. Through the continuous investments in R&D, the majority of
products being developed and sold are as premium paints such as
The Classy and Aisaengkag. Samhwa makes a wide range of products
from decorative paints to paints for architectural application and performance coatings such as plastic coatings, metal coatings, automotive
refinishes, electronic materials coatings, protective coatings and powder
coatings. The company also produces high-tech functional paints
and aims to supply develop innovative products from its state-ofthe-arts facilities.
78-79 35National - 40Nihon 0716.indd 78
Corrosion control coatings High

performance/heat reflective coatings
KEY EXECUTIVES
Ed Auslander, president and CEO; Will C,
Hinkston, VP, global operations development;
Tesa L. Oechsle, CFO and treasurer.
July 2016
6/27/16 4:30 PM
2016
39
Carpoly Chemical
Group
Jiangmen, China
www.carpoly.com
PRIVATE COMPANY
MARKETS SERVED
Architectural and industrial
KEY EXECUTIVES
Donghang Qiu, chairman and president;
Shuchao CAO,vice president; Xiaobo Lu,
vice chairman of the board and group
general manager; Dewu Liao, marketing
director; Ronghua Chen, technical director.
n 2015, Carpolys sales were $417 million. Carpoly offers products and services to the furniture and decorative paints market.
The company has 3,200 employees, six production facilities located in Guangdong, Shanghai, Sichuan and Hebei, approximately
2,400 direct distributors and more than 16,000 points of sales
throughout China.
In 2015, Carpoly restructured its production, supply and sales
chains to allow efficient performance. It further strengthened brand
promotion, improved product supply, enhanced field service, and
joined with distributors in additional marketing events such as advertising and color run to increase its exposure in the retail market,
the company reported.
40
Nihon Toksuhu
Toryo Co. Ltd.
Tokyo, Japan
www.nttoryo.co.jp
PUBLIC COMPANY
MARKETS SERVED
Decorative coatings Performance
coatings
KEY EXECUTIVES
Masahiro Nojima, chairman and CEO;
Makio Sakai, president and COO; Jun
Taya, managing director and CFO; deputy
chief officers of paints and coatings:
Hisami Nishioka and Yoshihiko Doi.
ihon Tokushu Toryo Co., Ltd. is a Japan-based manufacturing company that operates in two business segments.
The Paint-related segment manufactures and sells paints
and soundproof materials. This segment is also involved in the
paint-related and soundproof material-related construction work.
The automobile product-related segment manufactures and sells automotive soundproof materials, such as damping materials, acoustic absorbents and sound insulators, as well as antirust materials.
The company has nine subsidiaries and ten associated companies
in Japan, as well as overseas markets, including the U.S., Thailand,
China and Singapore. The company was founded in 1929, is headquartered in Tokyo and has approximately 530 employees.
78-79 35National - 40Nihon 0716.indd 79
Top Companies
Coatings World | 79
6/27/16 4:30 PM
Top Companies
41
2016
Ennis-Flint
Thomasville, NC/USA
www.ennistraffic.com
PRIVATE COMPANY
MARKETS SERVED
Traffic marking paint
KEY EXECUTIVES
Bryce Anderson, chairman; Steve Vetter,
chief executive officer, John Midea,
president and Matt Soule, chief financial
officer.
nnis-Flint is the world leader in pavement markings and traffic safety solutions for a diverse customer base of private contractors, government agencies and independent distributors,
Ennis-Flint supplies a wide range of products including: traffic paint,
hot-applied and preformed thermoplastic, plural components, raised
pavement markers and intelligent transportation systems from a network of 20 manufacturing facilities on four continents. Ennis-Flint
is headquartered in Thomasville, North Carolina, with manufacturing facilities located in the U.S., Canada, Australia, Malaysia and
Europe. Ennis-Flint was recently sold to Olympus Partners.
We are happy to partner with Olympus and believe they are
ideally positioned to support our next phase of growth and development, said Steve Vetter, CEO of Ennis-Flint.
43
Meffert AG Farbwerke
Bad Kreuznach,
Germany
www.meffert.com
PRIVATE COMPANY
MARKETS SERVED
Industrial coatings
KEY EXECUTIVES
Klaus Meffert , president and member
of the executive board, Dieter Meffert ,
member of the executive board.
effert is one of Europes leading manufacturers of

high-quality paints and varnishes, wood stains, plasters, sealing compounds, and renovation and buildingprotection products. Located in Bad Kreuznach, Germany and
founded in 1947, Mefferts product range now encompasses more
than 30,000 items.
The company employs approximately 1,500 employees at more
than 20 domestic and international production and distribution locations. The Meffert group of companies pursues the aim of aligning
its services and support to the needs of its customers. The brands
Dinova, ProfiTec and Albrecht, supply wholesalers for craft trades
and industry. The brands dfa, Super Nova, Correx, farbfit and
Pronova are for DIY users.
42
PRIVATE COMPANY
MARKETS SERVED
Architectural coatings Adhesives
Industrial coatings
Thermal insulation Wood coatings

KEY EXECUTIVES
Gozde Akpinar , chairman of the board;
Tayfun Kucukoglu, board member and
GM; finance; Mert Erdog, VP supply chain.
etek Boya ve Kimya Sanayi AS, whose name is the combination of the first syllables of the Turkish words Beton
(concrete) and Teknoloji (technology), was founded in
1988. Betek entered the decorative paints industry in 1993 through
its technological cooperation with DAW. Betek was the first Turkish paint company that commenced production with a European
partner. Betek has been the market leader in the industry with its
multi-brand strategy which is being delivered to more than 5,000
retail outlets. The company currently has more than 1,000 employees. Betek has a technology center founded in 2008. RMI, Scientific
Research Center tests and certifies products in the fields of decorative paint and thermal insulation products. Betek has been adopting
environmental protection and health standards of European Community since 1993 for all the products manufactured.
44
Shanghai Coatings
Shanghai, China
www.chinascc.com
PRIVATE COMPANY
MARKETS SERVED
Decorative coatings Automotive
coatings Coil coatings Marine coatings
Plastics coatings Industrial coatings

KEY EXECUTIVES
Situ Guoji, chairman; Huang Zhiyong,
general manager; Huang Youwei,
executive vice general manager.
hanghai Coatings Co. Ltd has 90 years of history since its predecessor Kai Lin Paint Plant, the first Chinese paint plant, was
established in 1915. The company owns 13 manufacturing
subsidiaries, two research institutes and six joint ventures ranging
from coatings, dyes, pigments, auxiliary agents and fine chemicals.
Shanghai Coatings has ranked in the top 500 in sales among Shanghai industrial companies for five years straight and is one of the top
10 enterprises in terms of results in the Chinese coatings industry.
SCC also boasts Chinas first coatings brand Winged Tiger coil
coatings. The company also manufactures paint under the Yanjing
brand. SCC paints are widely used throughout Chinas industrial
and civil fields. Some customers industrial customers include Volkswagen, General Motors Buick, Metro lines and Three Gorges.
80-81 41Ennis-48Teknos 0716.indd 80
Betek Boya San.

ve Tic. AS
Istanbul, Turkey
www.betek.com.tr
July 2016
6/27/16 4:31 PM
2016
44
Musashi Paint
Co. Ltd.
Tokyo, Japan
www.musashipaint.com
PUBLIC COMPANY
KEY EXECUTIVES
Yumiko Fukui, president and CEO; Kiyoshi
Abe, senior managing director; Tokushichi
Kidokoro, director.
46
Kangnam Jevisco
Pusan, South Korea
www.jevisco.com
MARKETS SERVED
Plastic coatings
PUBLIC COMPANY
$335 million
MARKETS SERVED
Decorative coatings Industrial coatings
Marine and protective coatings
usashi Paint Company Co., Ltd. manufactures and distributes coatings for household appliances, electronic
devices, information technology devices and industrial
products. It specializes in synthetic resin paints. The company provides touch feel, PRTR law adherent, water-based, UV, acrylic silicon, functional and special primer coatings, as well as coatings for
molded plastics, laser etching and metal materials. In addition, it
offers coatings for information/telecommunication devices, including mobile phones, laptop computers and digital cameras; coatings
for household appliances, such as plasma/LCD televisions, DVD
players, vacuum cleaners, refrigerators, dehumidifiers and air cleaners; and coatings for automobile devices, including navigation systems. Musashi Paint Company offers its products through dealers
in Japan, Korea, Malaysia, Hong Kong, Taiwan, the UK and U.S.
46
Tiger Coatings
Wels, Austria
www.tiger-coatings.com
PRIVATE COMPANY
MARKETS SERVED
Powder coatings
KEY EXECUTIVES
Kurt Berghofer, CEO; Clemens Steiner,
CEO; Reinhold Freiseisen, CFO; Elisabeth
Berghofer, chair superivisory board;
Christian Ebenberger, marketing director;
Carsten Herzhoff, technical director.
iger Coatings produces powder coatings for industrial applications and the DIY market. Its powder coatings are used in a
wide variety of markets such as architecture, automotive, construction and furniture. Tiger Coatings offers products such as Tiger
Drylac Powder Coatings and TigerTogital Inks. The company markets its products in Austria, Egypt, Brazil, China, Canada, Mexico,
the U.S., Vietnam, Belarus, Bosnia and Herzegovina, Bulgaria, Denmark, Germany, India, Croatia, Latvia/Lithuania, the Netherlands,
Poland, the Russian Federation, Switzerland, Serbia and Montenegro,
Slovenia, Spain, South Africa, Taiwan, Thailand and Ukraine. Tiger
Coatings was founded in 1930 and is based in Wels, Austria with
manufacturing facilities in Austria, Egypt, China, Canada, Mexico,
the U.S. and Vietnam. The company has 1,184 employees.
Automotive
KEY EXECUTIVES
Ki-suk Woo, chairman and CEO; Gyeong
Tai Shin, president; Managing directors:
Sang Kun Lee; Jae Hui Kim; Dong Hyeon
Cho; Seung Hwan Shin.
angnam Jevisco offers a range of products, including architectural coatings for concrete, plaster, slate and cement
mortar surfaces, as well as for vehicles, machinery, buildings, glass and furniture; general industrial coatings for various
applications, such as wood, steel furniture, electric home appliance, machinery, engineering plastics, steel products and decorative home appliance; wood coatings for furniture, general wooden
materials, and musical instruments; and powder coatings for decoration and protection, interior use, home appliances, and architectural use. The company, which was founded in 1945, was formerly
known as Kunsul Chemical Industrial Co. Ltd. It was announced
in December 2015 that, in celebration of its 70th anniversary, the
company would change its name to Kangnam Jevisco, and would
be called Jevisco.
48
Teknos Group Oy
Helsinki, Finland
www.teknos.com
PRIVATE COMPANY
MARKETS SERVED
Architectural coatings Industrial coatings
KEY EXECUTIVES
Paula Salastie, CEO; Lassi Tirkkonen, metal

coatings; Tuuka Ryynanen, R&D; Kim
Smith, industrial wood; Heli Nurminen,
HRD; Arto Mannonen, architectural
coatings; Frederik Calenius, procurement;
Pasi Taipalus, financial reporting.
eknos Group Oy is the leading supplier of industrial coatings in Scandinavia with a strong position in retail and architectural coatings too. Teknos is one of Finlands largest
family-owned businesses. Group companies operate in Scandinavia,
Germany, the UK, Poland, Slovenia and Russia, and through a wellestablished network of agents and representatives in approximately
20 other European countries. The company recently acquired a 40
percent minority share in Manfield Chemical (Changzhou) Co. Ltd.
paint factory located in Changzhou, China. Manfield Chemical has
been the local contract supplier of industrial coating products for
Teknos in China since 2011. The annual capacity of the paint factory in Changzhou is approximately 2,500 tons. The new company
operates under the name Manfield Teknos Chemical (Changzhou).
80-81 41Ennis-48Teknos 0716.indd 81
Top Companies
Coatings World | 81
6/27/16 4:31 PM
Top Companies
49
2016
Mankiewicz
Hamburg, Germany
www.mankiewicz.com
PRIVATE COMPANY
MARKETS SERVED
Industrial coatings Aviation coatings
Automotive coatings
KEY EXECUTIVES
Michael O. Grau, CEO.
ankiewicz Gebr. & Co. is a Hamburg, Germany based

privately-owned company serving the industrial, aviation and automotive coatings markets. The company
employs more than 1,200 people and has 5 facilities worldwide.
Investments in the areas of research and development, as well as
modern production facilities are the basis for successful business
development worldwide. Mankiewiczs quality management system
was first certified by the Federal Association of the German Aviation and Aerospace Industry (Bundesverband der Deutschen Luft-,
Raum- und Ausrstungsindustrie) in 1992. Since 1995, ISO 9001
has formed the basis of its quality system. The company has been
fulfilling the additional requirements in accordance with QS 9000,
VDA 6.1, ISO/TS 16949 and EN 9100 since 1998 (ISO/TS 16949
and EN 9100 already include ISO 9001).
51
Pintuco
Medelln, Colombia
www.pintuco.com
PRIVATE COMPANY
REVENUE: $277.2 million
MARKETS SERVED
Decorative paints Industrial coatings
Specialty coatings Auto refinish coatings
Powder coatings
KEY EXECUTIVES
Jean Jacques Thiriez, corporate VP
& general manager; David Villegas,
commercial director; Mauricio Gomez,
architectural coatings director.
intucos is a member of the Orbis Group, a multinational

holding with paints, chemicals, pipes and trade business.
73.3 percent of its sales are from decorative coatings, general
industrial is 8.6 percent, 10.7 percent for specialty coatings, 3.7
percent for auto refinish and 3.7 percent for powder coatings.
Pintuco has approximately 2,500 employees. Pintuco is the companys main brand, with a 45 percent market recognition in the
region and has been certified as a Notable Brand in Colombia. At
the end of 2015 Pintuco celebrated 70 years with record production
and sales, reaching 17 million gallons of paint sold in Colombia.
50
PRIVATE COMPANY
MARKETS SERVED
Architectural coatings Marine and
protective coatings Wood coatings
KEY EXECUTIVES
Arsa Sarasin, honorary chairman; Prachak
Tangkaravakoon, president; Motoo
Horiguchi, senior executive VP; Rams Das
Ahuja, executive VP.
OA is the leading supplier of decorative coatings in Thailand

with an estimated market share of 50 percent. The company manufactures products that cater to the mid-tier and
premium-tier markets. The TOA Group of companies includes TOA
Paint Thailand, which is TOAs 100 percent Thai-owned main base
of operation; TOA-Chugoku Paint, a JV between TOA Paint Thailand and Chugoku Marine Paint; TOA Union Paint Thailand, a JV
company with Japanese-based wood coatings producer Union Paint;
TOA Vietnam; Shanghai-TOA Paint; and TOA Paint Malaysia. In
May 2016, it was announced that the company was considering an
initial public offering of its paints and chemicals business. Bloomberg News reported that the company was working with banks on a
possible share sale that could raise at least $400 million, and could
take place as early as next year on the Thai stock exchange.
52
Kelly-Moore
San Carlos, California
USA
www.kellymoore.com
PRIVATE COMPANY
MARKETS SERVED
coatings Decorative
KEY EXECUTIVES
Steve DeVoe, president and CEO; Roy
George, executive VP and CFO; Dan
Claybaugh vice president of marketing
and business development; Jim Alberts,
VP sales.
elly-Moore Paints is a leading premium paint manufacturer

and retailer located in the western U.S. In August 2015,
the company announced the establishment of the KellyMoore Paints Endowment to the Texas Builders Foundation. The
$125,000.00 endowment will provide scholarships to students who
are enrolled in construction related programs in Texas trade and
technical schools and colleges and universities. The company has
more than 145 stores located throughout the western U.S. in California, Washington, Oregon, Arkansas, Texas, Oklahoma and Nevada. San Carlos and Hurst, Texas are home to its manufacturing
plants. In March of 2015, Kelly-Moore Paints released, DuraPoxy
Matte Finish 1600, a super-premium interior matte finish with superior stain release, hide and ease of application.
82-83 Mankiewicz-56Yasar 0716.indd 82
TOA Group
Bangkok, Thailand
www.toagroup.com
July 2016
6/27/16 4:32 PM
2016
53
CIN - Corporao Industrial do

Norte, SA
Maia, Portugal
www.cincoatings.com
PRIVATE COMPANY
MARKETS SERVED
coatings Protective coatings

KEY EXECUTIVES
Joo Serrenho, chairman and CEO; ngelo
Machado, board member; Fernando Jorge
Ferreira, CFO.
IN (Corporao Industrial do Norte S.A.) is a Portuguese

privately owned paint and coatings company, established in
1926, acting through subsidiaries in Portugal, Spain, France,
Angola, Mozambique, Mexico and South Africa and looking to extend its activities to other countries in Europe, Africa and South
America. The company reported revenue of $270 million for 2015.
At the end of 2015, CIN Group acquired French group Monopol,
which operates in the general industry, glass, industrial bodywork
and aeronautics segments. CIN has long been investing in the quality and sustainability of its operations as its several certifications can
attest: quality management system (ISO 9001), environment management system (ISO 14001) and occupational, health and safety
system (OHSAS 18001).
55
Flugger Group
Scandanavia
www.flugger.com
54
Origin Electric
Tokyo, Japan
www.origin.co.jp
PUBLIC COMPANY
MARKETS SERVED
Synthetic resin paints Coatings for
56
Yasar
Yasar Izmir, Turkey
www.dyo.com.tr
lgger Group is one of Scandinavias largest suppliers of decorative paint, wood stain, wallcoverings, paint tools and cleaning articles. Flgger Group is represented by Flgger shops
in Denmark, Norway, Sweden, Iceland, Poland and China. Its subsidiary DAY-system contributes with sales from 214 shops in Denmark, Norway and Sweden. Another company, PP Mester Maling,
has 41 shops in Denmark. The company has five factories; the two
main ones are in Kolding, Denmark and Bollebygd, Sweden. Here
Flugger produces paint, wood stain, fillers and chemical products. In
Kolding it produces 20 million liters of water-based paints per year.
In Bollebygd, Flugger produces 24 million liters of both water-based
and turpentine-based paint per year. In May, CEO Peter Ropke announced his resignation from Flugger Group.
Automotive paints Marine paints

KEY EXECUTIVES
Selcuk Yasar, honorary president of Yasar
Holding; Mehmet Kahya, chairperson of
audit committee; Ahmet Metin Onaner,
chair of early detection of risk committee.
asar Coatings Group is of the leading paint producers in

Turkey. Consisting of five companies led by Dyo Boya, it
serves the market with 1,000 different products. Under the
brand names Dyo and Dewilux, Yasar Coatings Group employs approximately 1,100 people and exports its products to 40 countries.
The groups export markets are located primarily in Central Asia,
the Middle East, Europe and Russia. Investments for 2014 include
Dyo Powder Coatings Facility and Dyo Africa LLC. The powder
coatings facility is located in Turgutlu Organized Industrial Zone
and will have an initial capacity of six tons. Dyo Africa was founded
in Cairo, Eqypt to handle the production marketing and sales in the
construction, automotive and furniture segments in the Africa and
Middle East Markets.
82-83 Mankiewicz-56Yasar 0716.indd 83
KEY EXECUTIVES
Toshio Kashiwagi, president and director;
Minoru Fujisawa, managing director and
GM of coating operations division.
MARKETS SERVED
KEY EXECUTIVES
Peter Ropke, CEO; Ulf Schnack, director;
Carl Trock, chairman; Sune Schnack, vice
chairman.
digital devices
rigin Electric operates in three segments: Electronics, Mechatronics and Chemitronics. The Chemitronics division is
supported by metal surface treatment and surface plating
technologies as well as by its history of R&D in the fields of electronics and coating materials. Energy-saving measures jointly developed with other engineering groups have resulted in developments
being achieved in the field of synthetic resin paints. The company
operates in Japan, as well as in Taipei, Hong Kong, the U.S. and
China. Origin began developing paints in 1947 as a part of its surface processing research efforts creating highly functional paints, including paints used for plastic substrates, water-based paint/TX-free
paint and paints used for plated nonferrous metals. Applications
include auto interior and exterior parts, cell phones and computers.
PRIVATE COMPANY
MARKETS SERVED
Decorative paints Construction paints
Industrial paints Furniture paints
PUBLIC COMPANY
Top Companies
Coatings World | 83
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Top Companies
57
2016
J.W. Ostendorf
Coesfeld, Germany
www.jwo.com
PRIVATE COMPANY
MARKETS SERVED
Decorative coatings
KEY EXECUTIVES
Michael Ostendorf, chairman and
managing director; Bernd Hopf, managing
director; Silvan Odermatt, managing
director; Heinz Rothues, managing
director.
stendorf GmbH & Co. KG (JWO) has been producing

paints, varnishes, lacquers and enamels since 1948 for a
variety of applications. It has its affiliates in Great Britain, Poland, Austria, Czech Republic, Switzerland, France and
Hungary. It has a production capacity of more than 500 million
liters per year and a staff of 800. It operates an integrated production and logistics facility at its headquarters in Coesfeld where it
produces paints, trim and stains in one of Europes most modern
paint factories. The company is the only paint manufacturer in
Europe with hygiene certification (TV Germany), and the production processes emit up to 80 percent less CO2 compared with
the paint-industry standard. Recently, VDI Zentrum Ressourceneffizienz GmbH added JWO from the Westphalian city of Coesfeld
to its Industrie-Club Ressourceneffizienz.
59
Pacific Paint
(Boysen)
Quezon City, Philippines
www.boysen.com
PRIVATE COMPANY
MARKETS SERVED
Marine coatings
KEY EXECUTIVES
Willy Ong, president; Johnson Ongking,
vice president; Ruben Cueto, marketing
manager; Romy Bautista, technical
services manager; Catherine Ramirez,
technical director.
alter Neal Boysen founded Boysen Paints in Oakland,

California in 1926. After expanding the brand across
the U.S., Boysen Paints was introduced to Asia in the
1960s. It has given Pacific Paints the license to manufacture its premium paint products. The growing market share in Asia and the
Pacific, especially in the Philippine market, necessitated the creation
of a fully integrated state-of-the-art manufacturing facility in Cavite,
Philippines, said to be the most modern paint factory in Southeast
Asia. In 2011, Atlantic Coatings, Inc. (ACI), contract manufacturer
of Pacific Paint (Boysen) Philippines Inc., the leading architectural
paint company in the country, further strengthened its green credentials with two environmental awards.
58
PRIVATE COMPANY
MARKETS SERVED
Wood Paints Industrial Paints
Decorative Paints
KEY EXECUTIVES
Chen Ho Sheng, chairman; Chen
Chun Hua, general manager; Tochaiki
Ogasawara, president; Huang Jung Chi,
chief of facility officer; Chang Cheng
Hsien, vice general manager.
aiho Paint is a coating company focused on scientific research, production, sales and service. It covers the wood
coatings, metal coatings, plastic coatings, architectural coatings and related markets, supporting a variety of chemical products,
such as colorants, diluents series and resin. The company heavily invested to set up its global automatic production lines, experimental
unit, testing equipment, and a high standard of technology research
and development center. Furthermore, it is actively working to be a
strategic partner with the worlds top chemical raw materials supplier. The Chairman of Taiho Paint held the 2016 annual product
technology exchange meeting in Japan. In that meeting, it was decided that waterborne wood coatings, water-based metal coatings,
waterborne traffic mark coatings and so on will be the main shift of
Taiho Paints technology research and development in the future.
60
Tambour Paint
Nethanya, Israel
tambourpaints.com
PUBLIC COMPANY
MARKETS SERVED
coatings Powder coatings
KEY EXECUTIVES
Max Sartiev, CEO & chairman; Micha
Sharir, CFO and deputy CEO; Dudi
Friedman, CEO paint division; Rachel
Yarkoni Goldshtein, VP marketing; Irit
Chen Zamaro, VP R&D.
ounded in 1936, Tambour is the largest Israeli paint manufacturer. The firm operates six production facilities in Israel
for architectural paints, industrial paints, powder coatings,
printing inks, acrylic emulsion, resins and other coatings. Production capacity is approximately 90 million liters per year. Tambour
said it has been watching trends not only for color forecasting, but
also for the research and development of new paint products, especially in the category of faux finishes and special effects. In light of
the success of this methodology in the decorative market, Tambour
decided to introduce it to the industrial market as well and created
a unique cooperation with Klil Industries the leading company in
Israel for aluminum framings.
84-85 57JWOstendorf-64Renner 0716.indd 84
Taiho Paint
Dongguan, China
www.taihopaint.com
July 2016
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2016
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Karl Wrwag LackUnd Farbenfabrik

Stuttgart, Germany
www.woerwag.de
PRIVATE COMPANY
MARKETS SERVED
Industrial coatings
KEY EXECUTIVES
Peter Moritz, managing director; Hannes
Worwag, managing director.
arl Wrwag Lack-und Farbenfabrik GmbH & Co.KG

develops, manufactures, and markets coatings and paints
for various industrial applications. Its products include
liquid coatings, powder coatings, UV coatings, and painted films.
The companys products serve vehicle exteriors and interiors, car
bodies and commercial vehicles, vehicle components, construction and agricultural machinery, household appliances, plant
engineering, furniture, and building equipment industries in Germany and internationally.
Karl Wrwag Lack- und Farbenfabrik GmbH & Co.KG was
founded in 1918 and is headquartered in Stuttgart, Germany. It has
subsidiary locations in Langfang, China; Cape Town, South Africa;
Baden-Dttwil, Switzerland; Swiebodzin, Poland; Lafayette, Illinois;
and Polinya, Spain.
63
Rock Paint
Osaka, Japan
www.rockpaint.co.jp
PUBLIC COMPANY
MARKETS SERVED
Automotive coatings Industrial
coatings
KEY EXECUTIVES
Togo Utsumi, president and representative
director; Yuji Ikeya, representative senior
managing director.
ock Paint is among the leading manufacturers of automotive

refinish paints in Japan. These include brands such as its
Panarock Mars 2K series, Rockace and Hirock. Rock Paint
has recently introduced a one-package type basecoat called Pro
Touch. Responding to movements aiming to reduce levels of VOCs
in paint products, Rock Paint set out early to develop waterborne
automotive refinish paints. The company introduced New HIROCK
series, which is for commercial vehicle. In order to meet the market
requirement to reduce levels of VOCs, Rock Paint has continuously
developed waterborne Automotive Refinish Paints, which is new
generation NEO WATERWASE. The company established a new
plant in Indonesia in 2013, where it is manufacturing adhesives and
paints.
62
Grebe Group
Weilburg, Germany
www.grebe.com
PRIVATE COMPANY
MARKETS SERVED
Industrial coatings OEM coatings (nonautomotive)
KEY EXECUTIVES
Helmut Tappe, CEO Grebe Group; Dr.
Manfred Becker, management board;
Frank Glaser, management board; Tim
Rand, Weilburger Coatings; Uwe Diener,
marketing director.
oatings World estimated that The Grebe Group recorded
sales of approximately $190 million in 2014. Industrial

coatings accounted for 40 percent of sales, non-automotive
OEM applications accounted for 40 percent and rail and defense
applications accounted for 20 percent. For household articles the
firm offers Greblon non-stick coatings and decorative, temperatureresistant coatings. For the stove industry it offers high-temperature
resistant coatings. For general industry applications Grebe offers
coating systems for metals, plastics and glass in applications such
as sewage pipes, household appliances, rail vehicles, mobile phones
and defense technology. The group operates facilities in Germany,
UK, Italy, Poland, China, Hong Kong Indonesia, India and Japan.
64
Renner Sayerlack
Cajamar, Brazil
www.sayerlack.com.br
PRIVATE COMPANY
MARKETS SERVED
Wood coatings Marine coatings
KEY EXECUTIVES
Alexandre Cenacchi, chairman of the
board.
enner Sayerlack S.A. manufactures and distributes wood

finishing and marine coatings and paints. It is the largest
and most specialized wood coating company in Latin America. Formerly known as Sayerlack, it changed its name to Renner
Sayerlack S.A. in January 2001 after the merger of Tintas Renner
and Sayerlack Industria Brasileira de Vernizes. The company was
founded in 1968 and is based in Cajamar, Brazil. With sales estimated in the $132 million range, Renner Sayerlack claims to control
approximately 50 percent of the Brazilian wood finishing market, as
the largest player in the segment in Latin America. The companys
primary wood finishes manufacturing facility is in Cajamar, Sao
Paulo state, and it operates another in Minerbio, Italy.
84-85 57JWOstendorf-64Renner 0716.indd 85
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Top Companies
65
2016
Shinto
Amagasaki, Japan
www.shintopaint.co.jp
PUBLIC COMPANY
MARKETS SERVED
Automotive coatings Industrial
coatings
KEY EXECUTIVES
Ryuhei Tamamura, president and
representative director; Masayoshi
Kashida, managing director; Yukifumi
Tokunaga, managing director.
hinto Paint Co., Ltd. engages in the manufacture, processing

and sale of paints, adhesives, pigments, synthetic fats/oils, fats/
oils, and chemicals in Japan. In addition, the company designs,
implements, and supervises painting work and other various construction work, as well as related technical supervision. Further,
it engages in contracting of installation work for painting facilities; and related machinery equipment, tools, and devices, as well
as design and supervision of such installation work. The company
provides maintenance coatings for protection against rust and corrosion to nuclear power stations, chemical plants, petroleum refinery
plants, water and sewage treatment plants, and paper mills, as well
as large-sized steel structures, such as ships, drilling rigs, offshore
platforms, and other ocean development plants. Shinto Paint Co.
was founded in 1901 and is headquartered in Amagasaki, Japan.
67
Kapci Coatings
Port Said, Eqypt
www.kapci.com
PRIVATE COMPANY
MARKETS SERVED
Automotive refinish Decorative paints
Wood finishes Resins
KEY EXECUTIVES
Mohamed Mohamed Ahmed El-Sayed,
CEO; Amr Mohamed El-Sayed, commercial
director; Lotfy Hassan El-Badrawy, R&D
director.
he company was founded in 1985 under the name Kantara

Paints and Chemical Industries specializing in car refinish
paints. In 2002 the company opened its current headquarters located in Port Said and changed its name to Kapci Coatings.
In 2014 Kapci generated revenue of $183.7 million. Car refinishes
accounted for 58 percent of sales; architectural and decorative coatings 24 percent; wood finishes accounted for 15 percent, and inks
accounted for three percent. Kapci Coatings production facility is
located on 210,000 square meters of space where the company has
an annual production capacity of roughly 80,000 tons. It has recently expanded its warehouse space. The new location, specifically
for emulsion paints, will be nearly 62,000 square meters.
65
PUBLIC COMPANY
KEY EXECUTIVES
John Venhuizen, president and CEO;
William Guzik, CFO, EVP and chief risk
officer.
MARKETS SERVED
or its first 50 years in business, Ace was privately held.

In 1976, Ace became a retailer-owned cooperative. Each
store is independently owned and operated by local entrepreneurs. Today, Ace is the largest retailer-owned cooperative
in the hardware industry in terms of wholesale and retail sales
and strength of the brand. Aces 4,600 stores in all 50 states
and more than 60 countries generate annual retail sales of approximately $12 billion. Headquartered in Oak Brook, IL, Ace
currently operates 14 distribution centers in the U.S. and one in
Shanghai, China. Ace employs approximately 4,500 corporate
team members worldwide and has four regional offices, located
in Raleigh, NC; Atlanta, GA; Denver, CO; and Woodridge, Illinois. The Ace Paint division generated sales of approximately
$190 million in 2015.
68
Kikusui Chemical
Nagoya, Japan
www.kikusui-chem.jp
PUBLIC COMPANY
MARKETS SERVED
KEY EXECUTIVES
Hitoshi Yamaguchi, president; Akiyoshi
Nakagami, managing director; Hiroyuki
Imaida, managing director; Yoshiki
Tachibana, managing director.
ikusui Chemical Industries Co. Ltd. engages in the production and sale of architectural coatings, specialty functional
materials, construction materials, and civil engineering materials. The company offers ceramics, building materials, paints and
crushed natural decorative material sheets. In addition, it involves
in the manufacture and sale of machinery and equipment. The company was founded in 1959 and is headquartered in Nagoya, Japan.
Under the slogan, Work in Harmony with Nature, Work for the
Benefit of People, Kikusui manufactures water-based and organicsolvent-free architectural paints and uses its own methods to minimize drainage and waste generated during the production process.
In addition, the company deals with natural paints from Germany
and allergy-free paints from Sweden.
86-87 65Shinto-70Diamond 0716.indd 86
Ace Paint
Oakbrook, IL, USA
www.acehardware.com
July 2016
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Tohpe
Sakai City, Japan
www.tohpe.co.jp
PUBLIC COMPANY
MARKETS SERVED
Onshore coatings Marine coatings
Automotive coatings Decorative
coatings Adhesives
KEY EXECUTIVES
Hiroyuki Shiaku, president and
representative director; Nobuo Matsuki,
GM of technology & director.
ohpe Corporation is a Japan-based manufacturer that supplies paints and other chemical products. Its paints include
synthetic resin paints, lacquers, water-based paints, oilbased paints and thinners. The companys chemical products include
synthetic resin adhesive processing agents and synthetic rubber. Additionally, it is involved in the paint related construction activities.
The company has 12 subsidiaries and five associated companies. Its
offers architectural coatings, exterior paints, steel coatings, concrete
protective coatings, marine paints, industrial paints and road paints.
In addition, it involves in exterior painting contract and building
construction works, as well as in the sale of paint-related equipment.
The company was founded in 1915 and is headquartered in Sakai
City, Japan.
70
Top Companies
Diamond Vogel
Orange City, IA, USA
www.diamonvogel.com
PRIVATE COMPANY
MARKETS SERVED
coatings Heavy duty coatings Traffic
coatings Wood finishes

KEY EXECUTIVES
Drew Vogel, president and CEO; Doug
Vogel, vice president, decorative; Mark
Vogel, vice president, industrial.
iamond Vogel Paints is a family-owned, Midwestern-based

paint manufacturer and retailer established in 1926 and
headquartered in Orange City, Iowa. The company operates seven manufacturing facilities and more than 80 service center
outlets. Diamond Vogel is a provider of liquid and powder coatings
for industrial OEM applications, architectural paints for commercial and homeowner applications, and heavy-duty protective coatings for industrial maintenance applications. Diamond Vogels Acryl
Prime Interior 100% acrylic primer-sealer is a premium quality interior latex primer/sealer that offers excellent hold out for both latex
and oil topcoats. It also has better alkaline resistance than conventional vinyl acrylic primers, accoridng to the company.
YOUR PAINT &

COATINGS DESERVE
THE BEST
Custom Milling & Consulting, Inc.
www.cmcmillling.com
PH: 610-926-0984
Email: sales@cmcmilling.com
86-87 65Shinto-70Diamond 0716.indd 87
Coatings World | 87
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Top Companies
71
2016
Looser Holding
Arbon, Switzerland
looserholding.ch
PUBLIC COMPANY
MARKETS SERVED
coatings Automotive OEM Auto
refinish Wood coatings Non-stick

coatings Packaging coatings
KEY EXECUTIVES
Rudolf Huber, Rudolf Hadorn, Marcella
Looser-Paardekooper, Thomas Lozser,
Christian Wenger, Paul Zumbuhl.
ooser Holding AG is an international industrial holding company headquartered in Arbon, Switzerland. The foundation
of the companys industrial activities dates back to E. Looser
& Co. established in 1928, which subsequently developed into a
leading manufacturer of furnace installations in Europe under the
name of ELCO Looser Holding AG. The listed company ELCO
Looser Holding AG was acquired by Preussag AG in 1995 in a public takeover bid. In 1996, the Looser industrialist family repurchased
FLH Holding AG. Today, FLH Holding AG is a division of Looser
Holding AG which was formed in 2004. The corporate Group is active in the coatings, industrial services and doors sectors. Currently,
2,170 employees work for the Group in 16 operational facilities in
Europe, Asia and the U.S.A. Looser Holding AGs registered shares
are listed on the SIX Swiss Exchange (Swiss Reporting Standard).
73
Industrias Titan
Barcelona, Spain
www.titanlux.com
PRIVATE COMPANY
MARKETS SERVED
Marine coatings Powder coatings
Fine arts materials

KEY EXECUTIVES
Jos Farrs Pere, CEO; Jaime Carbonell
Petit, chairman; Antonio Vilaseca
Martinez, technical director; Jose
Fernndez, manager for powder coatings.
ince it was founded in 1917 in Barcelona, Industrias Titan has

produced paints, enamels, varnishes, powder coatings, colors
for fine arts and handicrafts, as well as ancillary products. Its
present installations have a total area of 120,000 square meters and
are located in El Prat de Llobregat, which is within the metropolitan area of Barcelona. It has fourteen commercial delegations, six
production plants in Spain, one in Portugal and one in Morocco. In
recent years Industrias Titan has focused its efforts on making its
products more environmental friendly, right through from product
conception to the end user stage. Many of its products have been
awarded with the European Ecological Label.
72
PRIVATE COMPANY
REVENUE: $141,058,838 million
MARKETS SERVED
Interior coatings Exterior coatings
Wood and metal preservation
niezka Paints and Varnishes Plant S.A. is an industry leader

in Poland, both in terms of quantity and value. Sniezka is a
modern plant employing more than 600 people and producing approximately 90 million liters yearly of a variety of chemical
products used in the construction industry in the domestic market
and foreign markets. The company concentrates its activity in the
area of emulsion paints (thinned with water), oil and phthalic paints
(solvent paints), and putty substances. The company offers a wide
range of high quality paints and varnishes, at the same time providing its customers with assistance in the implementation and application of its products.
74
Cloverdale Paint
Surrey, British Columbia,
Canada
cloverdalepaint.com
PRIVATE COMPANY
MARKETS SERVED
Wood finishes Marine coatings

KEY EXECUTIVES
Charles Mordy, CEO and president; Paul
Schmidt, vice president of finance.
loverdale Paint maintains more than 100 retail stores and

a network of dealer outlets across Western Canada and the
Pacific Northwest. The firm manufactures architectural and
industrial maintenance products directly and through subsidiary
companies in Calgary, Alberta (Far-go Paint Inc.) and Portland,
Oregon (Rodda Paint Company). Cloverdale operates manufacturing plants in Surrey, Portland, Winnipeg, Edmonton and Calgary.
Cloverdale most recently bought Guertin Coatings of Winnipeg,
Manitoba, Canada, which produces liquid and powder industrial
coatings, resins, sealants and adhesives in a 78,000 square foot facility. Recently, the company announced that it has expanded into
Ontario. The new facility in Cambridge brings the total number of
wholesale/retail locations in Canada to 70.
88-89 71Looser-76Kaylar 0716.indd 88
Sniezka Woj.
Lubzina, Poland
www.sniezka.com
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WEG Tintas
Guaramirim, SC - Brazil
www.weg.net
PRIVATE COMPANY
MARKETS SERVED
Powder coatings Marine coatings
Industrial coatings Protective caotings
Automotive refinish coatings Varnishes

KEY EXECUTIVES
Reinaldo Richter, managing director;
Adilson Cesar Demathe, sales manager;
Pedro Reibaldi Neto, sales manager;
Mauro Jos Deretti, customer service.
EG Groups Coatings Unit provides solutions in liquid

industrial and anticorrosive coatings, automotive refinish coatings, powder coatings and electro insulating varnishes and resins. WEG Coatings is a leader in the Brazilian market
in powder coatings and electro insulating varnishes and resins and
is a leader in industrial and anticorrosive coatings in Latin America. Of the companys $134.4 million sales, 35 percent were from
powder coatings, followed by 13 percent each in OEM (excluding
automotive) and general industrial and industrial maintenance. The
remaining sales were in marine/yacht, 10 percent; automotive refinish, eight percent; automotive OEM, five percent; architectural/
decorative and retailers, both at three percent; and the remaining
two percent in antimicrobial coatings.
76
Top Companies
Kayalar Kimya
Istanbul, Turkey
kayalarkimya.com.tr
PRIVATE COMPANY
MARKETS SERVED
Architectural coatings General
industrial coatings Wood coatings
KEY EXECUTIVES
Ersin Kenan Kayalar, CEO; Ender Bahadir
Baykara, CFO; Zafer Kayalar, assistant
general manager of purchases and
finance; Tolga Kayalar, assistant general
manager of sales, marketing and IT.
ounded in 1976, Kayalar Kimya provides a stable and reliable

production environment of total 59.000 m2 area in Turkey
and in Spain, equipped with state-of-the-art technology and
cutting edge automation system. With its 60000 tons of capacity, Kayalar Kimya is one of the Europes largest paint and varnish
manufacturers and 76th biggest paint company in the world. With
a market share of 23% in Turkey, a range of 500 different products
and a manufacturing capacity involving 3000 different manufacturing types, besides its more than 4000 domestic and international
customers, Kayalar Kimya improves its competitive capacity by
using the globally accepted best practices and initiatives. Turkish
Exporters Union rewarded the company with Star of Export
award in recognition of export performance in 60 countries.
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88-89 71Looser-76Kaylar 0716.indd 89
Coatings World | 89
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Top Companies
77
2016
Whitford
Corporation
Elverson, PA USA
whitfordww.com
PRIVATE COMPANY
MARKETS SERVED
Industrial coatings Automotive
coatings Powder coatings Houseware
coatings Electrical component coatings

Non-stick coatings Packaging coatings
KEY EXECUTIVES
David P. Willis Jr., founder, CEO and
president; Tom Sheehan, CFO and
treasurer; Rich Hobbs, managing director.
hitford Corporation is a manufacturer of one of the

worlds largest line of fluoropolymer coatings. Whitfords story began in 1969 when the founders created
its first product Xylan 1010 which remains one of the companys
most popular products today. The firms wide range of products
serves the industrial, automotive, powder coatings, houseware ,
electrical component and sol-gel markets. Whitford operates nine
manufacturing facilities worldwide in the U.S., the UK, Brazil, India,
China, Singapore and Italy. In 2011 Whitford opened its factory in
Bangalore, one of Indias fastest-growing and most dynamic cities.
On the new technology front, Whitford has broken new ground
with its recently launched Eterna Colors, QuanTanium colors, Fusion colors and Fusion X for exteriors.
79
ICA Group
Civitanova Marche,
Italy
www.icaspa.com
PRIVATE COMPANY
MARKETS SERVED
Industrial wood coatings
KEY EXECUTIVES
Alessandro Bascelli, export manager;
Lorenzo Lavarini, area manager; Federico
Bastianelli, area manager; Sandro
Paniccia, marketing director; Pierro and
Fabio Paniccia, technical directors.
CA SpA is an Italian company founded in Civitanova Marche

in 1971 and specializing in coatings for wood. The iCO division retains intact the personnel, facilities and expertise of Salchi
Wood Coatings, based in Romano DEzzelino. ICA Iberia is a young
company established by ICA Group in 2009, with its headquarters
in Benicarl (Spain). ICA Group has strengthened its presence in
China by setting up, in 2013, ICA China, which has its headquarters in Zhongshan. The new company is intended to consolidate the
groups presence in China and Hong Kong by marketing ICA-brand
products there. ICA Group has been present in Germany (in the
town of Heek, in Nordrhein-Westfalen) for 10 years. In January, the
company set up a new company in Poland, ICA Polska, following
the acquisition of Italcolor.
78
PRIVATE COMPANY
MARKETS SERVED
KEY EXECUTIVES
Victor Stolbchenko, GM; Roman Setin,
GMs first deputy; Vadim Zaytsev,
sales and decorative coatings segment
manager.
ith sales of approximately $131 million in 2015, Empils is Russias second-largest domestic manufacturer
of paints and coatings. The company produces decorative coatings for building and repair under the brand names NEWTONE, Oreol, Titan, Rastsvet, Dachnaya, Empils, PROFIWOOD,
Prostokrasheno and industrial coatings Empils Industrial. Empils products are popular among the customers and presented in
wholesale and retail chains in Russia, Kazakhstan, Tadzhikistan,
Kirghizia, Turkmenistan and Mongolia. The company exports zinc
to Belarus, Estonia, Kazakhstan, Uzbekistan, Poland, Finland, Romania, Serbia, Slovakia, Spain, Germany, Italy, Slovenia, Bulgaria.
Product quality is confirmed by a REACH certificate, which guarantees the correspondence to European ecological standards and
allows to import zinc oxide to EU countries.
80
Natoco
Miyoshi, Japan
www.natoco.co.jp
PUBLIC COMPANY
MARKETS SERVED
coatings
KEY EXECUTIVES
Kenji Kasuya, president and representative
director; Susumu Kawakami, executive
director.
atoco Co., Ltd. manufactures fine chemicals and paints.

It offers synthetic resin paints and inks. The company
primarily provides coatings for metal, building and other
functional materials, as well as related equipment. The company
was founded in 1948 and is headquartered in Miyoshi, Japan and
operates in three business segments. The paint segment is involved
in the manufacture and sale of synthetic resin paints, thinners and
paint-related products. The fine chemical segment manufactures and
sells chemical products such as film-use coating materials, as well
as fine particles for liquid crystal displays (LCDs), among others.
The others segment is engaged in the collection and transportation
of industrial waste products. Natoco has two subsidiaries and one
associated company.
90-91 77Whitford-84MIDO 0716.indd 90
Empils
Rostov-on Don, Russia
www.empils.ru
July 2016
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2016
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Tnemec
Kansas City, Missouri
USA
www.tnemec.com
PRIVATE COMPANY
MARKETS SERVED
Water tank coatings Wastewater
coatings Industrial coatings Floor
coatings Architectural coatings

KEY EXECUTIVES
Peter Cortelyou, CEO; Chase Bean, COO/
president; Steve Eiserer, CFO; Cory Brown,
VP technical services; Terry Wallace, VP
sales; Mark Thomas, VP marketing.
ince 1921, Tnemec Company Inc. has been a leading manufacturer of high-performance architectural and industrial coatings
that protect a wide range of substrates and enhance aesthetics.
From water tanks and treatment plants, to manufacturing plants,
industrial facilities and specialty architectural buildings, Tnemec
coatings can be found protecting virtually all types of structures
and buildings. Tnemec operates two manufacturing facilities in the
U.S. in North Kansas City, Missouri and Baltimore, Maryland. The
company currently has 263 employees.
83
Asahipen
Osaka, Japan
www.asahipen.jp
PUBLIC COMPANY
MARKETS SERVED
Onshore, Marine and Automotive
coatings Decorative coatings

KEY EXECUTIVES
Takeshi Tanaka, president and chairman;
Toitsu Nishigami, senior managing
director, Tatsuo Nishi, managing director;
Nobuyuki Goto, managing director.
sahipen Corporation engages in the manufacture and sale

of various paints and coatings, painting tools and wallpaper
products in Japan. The company offers water-based, oilbased, anti-rust, spray, gloss varnish, wood, hobby craft and business paints. Asahipen Corporation markets its products through
dealers, government agencies, and other outlets in China, Hong
Kong, Taiwan, and southwestern Asia. The company was formerly
known as Asahi Paint Company and changed its name to Asahipen
Corporation in 1965. Asahipen Corporation was founded in 1940
and is headquartered in Osaka, Japan. Asahipen Groups are organized into many paint-manufacturing subsidiaries including Asahipen Corporation, Daiho Tokyo Inc., Asahipen America Inc. and
in the field of UV finishing it operates Trust Inc.
82
Pachin
Cairo, Eqypt
www.pachin.com
PRIVATE COMPANY
MARKETS SERVED
Printing Inks
KEY EXECUTIVES
Mohieddin Abdelrazek, CEO; Mahmoud
El-Rifai, chairman; Raafat Abdulazim, CFO;
Hussein Abdelaleem, purchasing director.
ince its beginnings in 1958, Paints and Chemical Industries

(PACHIN) has been a pioneer in the Egyptian paint and coatings industry. Its core business is the production of various
types of architectural and decorative coatings, industrial paints,
printing inks and alkyd resins. The company operates three coatings manufacturing facilities worldwide: El Obour Paints & Chemical Industries, Qalubya, Egypt, decorative paints & printing inks;
PACHIN Alex Factory, Alexandria, Egypt, decorative paints;
PACHIN-Libya for Paints, Libya, decorative paints. The company
recently launched several products, including Cristal, a glossy super
acrylic paint; Shiny, a semi-gloss extra super latex; Grand, a gloss
extra super latex; and Aqua Cool, a transparent acrylic varnish
water base.
84
MIDO Coatings
Alexandria, Egypt
www.midoco.com
PRIVATE COMPANY
MARKETS SERVED
Automotive coatings (car refinishes)
Wood coatings Decorative coatings
KEY EXECUTIVES
Aly Ghaly, president; Omar Ghaly, vice
president; Ramy Galal, board member;
Catings technical directors: Mohamed
Awad, Mohamed Farouk, Sheikh Elarab
Abd El Aziz, Hisham Eltoukhy.
ounded in 1979, MIDO (International Group for Modern

Coatings) is a leading Egyptian company for high quality
paints and coating products for a variety of applications. The
company develops, produces, and distributes specialized chemical
products for many areas of application in the automotive, decorative
paints, wood coatings, printing inks, and other different industrial
products. The company recently established three overseas branches
in Kenya, Sudan and UAE. The company adopted an ambitious penetration plan to establish this new entry model and overcome a lot of
logistics and trade barriers which held back the growth of Egyptian
presence in these markets as a model, it will be replicated in selected
markets across the region in the future within MIDO international
expansion plan for the future.
90-91 77Whitford-84MIDO 0716.indd 91
Top Companies
Coatings World | 91
6/27/16 4:52 PM
Top Companies
85
2016
Russian Coatings
Yaroslavl, Russia
www.ruskraski.ru
PRIVATE COMPANY
MARKETS SERVED
Architectural coatings Automotive
OEM coatings Industrial coatings
Automotive refinishes Powder coatings

KEY EXECUTIVES
Valeriy Abramov, CEO; Philipp Savelyev,
director of economics; Mixhail Kolomichev,
technical director.
n 2015, Russian Coatings strongest segment was automotive

refinish, with 27.4 percent of sales. Architectural coatings followed with 18.8 percent, powder with 18.7, general industrial
and industrial maintenance with 15.5 percent, and automotive with
12.6 percent. The remaining seven percent was varied. In 2015, the
companys production volume was 36.9 thousand tons. The sales
volume in money terms in ruble equivalent rose by 8% against the
previous year. The enterprise began the serial production of Prodecor PYRO paint characterized by its fireproof efficiency indicator
90 minutes. Prodecor materials went up to 26% in the portfolio
amount. The powder paints business increased sales by 17% and
kept its share at the Russian market of powder paints at the level of
9.1%. Starting a new production line allowed Russian Coatings to
raise its production capacities up to 6.0 thousand tons.
86
86
Atomix
Tokyo, Japan
www.atomix.co.jp
PUBLIC COMPANY
MARKETS SERVED
Floor coatings Roof coatings
Swimming pool coatings Traffic paints
KEY EXECUTIVES
Toshikazu Jimbo, president; Kohichi Kita,
executive vice president and director.
tomix Co. Ltd. manufactures various paints in Japan. The

companys headquarters are located in Tokyo, Japan. It
offers floor and roof coatings, waterproofing materials,
swimming pool coatings, traffic and anti-skid paints, paint for
mapping systems, and paint to protect road structures from deterioration. The company was founded in 1937. The company has
factories in Kazo City, Kuki City and Katsuta-gun. Sales offices
are located in Sapporo, Sendai, Niigata, Yokohama, Nagoya, Hiroshima, Fukuoka.
Boero Group
Genoa, Italy
www.gruppoboero.it
PUBLIC COMPANY
MARKETS SERVED
Decorative coatings Maine coatings
Yacht coatings
KEY EXECUTIVES
Giorgio Rupnik, CEO and director;
Giampaolo Iacone, director of
administration, finance & control and
director; Pietro Bianchini, operations
director.
oero Group is Italys paint and coatings leader in the markets its serves. Architectural and decorative paint brands in
the firms portfolio include Boero Colori; Rover Attiva; and
Grandi Superfici. Yacht brands include Boero Yacht Paint; Veneziani Yachting and Attiva Marine. The marine category offers the
Boat brand. Boero Group operates out of four hubs: Genoa (headquarters and Research Centre), Rivalta Scrivia (production site) and
Tortona (logistics hub), thus covering the entire country in addition
to a French subsidiary dedicated to the Yachting sector; this allows
optimization of the production and distribution processes, in a logic
of high competitiveness and speed of response to the needs of individual customers.
92 85Russian-86Boero 0716.indd 92
July 2016
6/27/16 4:55 PM
APCS CWM0716.indd 1
6/13/16 9:17 AM
FEATURE
Coatings World and

Ringier Events Host
14th Annual China
Coatings Summit
This annual event jointly organized by Coatings World and Ringier was held May 24-25 in
Shanghai.
Kerry Pianoforte, Editor
Innovative, Sustainable, Efficiency was the theme of China

Coatings Summit 2016. The Coatings Summit focused on
waterborne and other environmentally-friendly coatings.
More than 50 keynote speeches covering industry regulations,
trends, advanced technology and market trends were presented
across five industry tracks to more than 500 attendees. In addition more than 60 companies displayed their latest products
and technologies for the coatings industry, as well as conducting
product demonstrations in the exhibition area.
A committee comprised of industry experts from the manufacturing sector, suppliers, policy makers and R&D institutes
helped formulate the topics that truly reflect the latest in technology and challenges that face the industry. The summit had a
series of buyer/supplier meetings, round table discussions and
social events, giving attendees the opportunity to network and
develop new business contacts.
This was our 13th conference in China partnering with
Ringier, said Dale Pritchett, publisher of Coatings World. The
number of delegates and exhibitors continues to grow. Coatings
World is very pleased to be associated with this premier technical event in Shanghai
For the first time the conference had equal focus on both
coatings and inks, Pritchett added. Therefore my talk this

year focused on New Technologies and Trends in the Global
Markets of Coatings and Inks. I found the level of interest
among the delegates in the coatings market by the ink industry
as well as the level of interest in the ink market by the coatings
industry to be rare and refreshing.
The Coatings Summit has become one the most respected
technology communication platforms in China, the show organizers said. So far more than 3,200 professionals from the coating industry chain have attended to share their opinions and
learn from discussions as well as network and develop prospects
for cooperation.
94-96 Coatings Summit 0716.indd 94
July 2016
6/27/16 3:43 PM
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FEATURE 14th Annual China Coatings Summit

Key topics at this years Summit included:
Current trends in the coatings industry
Interpreting industry standards
Advanced technology from Europe and America
Innovation technology and application
Raw materials choices and formulation basics
Solutions for the challenge of future
Sustainable coatings
Low VOC & VOC-free coatings
Smart Coatings
The Coatings Summit was comprised of five industry tracks:
wood coatings, architectural coatings, anti-corrosive coatings,
automotive coating and smart functional coatings and featured
a variety of experts active in the coatings industry.
The 6th Green Ink and Printing Technology Conference
was held in conjunction with the China Coatings Summit.
In addition to the conference, the Ringier Coatings Industry
Technology Innovation Awards 2016 were presented as well. CW
Dr. Robert Duan, global techical director for Valspar was among the presenters
at this years China Coatings Summit.
This years China Coatings Summit had more than 500 attendees.
Michael Hay of Ringier welcomed delegates to the Summit.
Dale Pritchett, publisher of Coatings World, presented New Technologies
Helmut Unkel, chairman, H. J. Unkel Group speaking on his companies 100
and Trends in the Global Markets of Coatings and Inks.
years of service, experience & integrated solutions for the coatings industry.
94-96 Coatings Summit 0716.indd 96
July 2016
6/27/16 3:43 PM
FEATURE
Resins Supplier
DIRECTORY
Here is a look at the latest offerings from select resins suppliers. For more information on
the products listed, please contact the company directly.
Air Products
resins; melamine/melamine-type resins;

phenolic resins; phenoxy resins; UV curing resins; rethane/polyurethane resins;
water-thinned resins
Allentown, PA, USA

610-481-6799
Fax: 610-481-4381
prodinfo@airproducts.com
www.airproducts.com
Type of resins: Epoxy hardeners; epoxy
resins; high-solid resins; hybrid resins;
polyamide
Alberdingk Boley
Arkema Coating Resins
Greensboro, NC, USA

336-454-5000 x 323
Fax: 336-454-5007
jharrison@alberdinkusa.com
www.alberdingkusa.com
Cary, NC, USA

877-331-6696
www.arkemacoatingresins.com
Type of resins: Acrylic-styrene emulsions;

emulsions; high-solid resins; UV curing
resins; polyurethane dispersions
AC 3660
Attributes/comments: This multiphase,
self-linking acrylic emulsion offers superior clarity and transparency. This
emulsion offers excellent hardness and
chemical resistance on wood and wetlook on concrete substrates.
Allnex USA Inc.

Apharetta, GA, USA
770-280-8300
www.allnex.com
Type of resins: Acrylic resins;
styrene emulsions; alkyd resins;
emulsions; crosslinking resins;
hardeners; high-solid resins;
July 2016
97-98 Resins Directory 0716.indd 97
MODAFLOW LAMBDA
Attributes/comments: A silicone-acrylic
hybrid polymer additive that unifies best
characteristics of acrylic flow promoters
and silicone leveling additives, allowing
optimal surface quality at low dosage.
acrylicamino;
epoxy
hybrid
Type of resins: Acrylic resins; acrylicstyrene; alkyd resins; emulsions; epoxy

hardeners; high-solid resins; polyester
resins; silicone polyesters; TGIC resins;
urethane/polyurethane resins; waterthinned resins
ENCOR 662 Acrylic Latex
Attributes/comments: 100% acrylic; outstanding scrub and stain resistance; suitable for low-zero VOC formulations
DIC International (USA)

melamine/melamine-type resins; phenolic resins; phenoxy resins; polyamide
resins; polyester resins; styrene resins;
UV curing resins; urethane crosslinkers;
urethane/polyurethane resins; waterthinned resins
ACRYDIC WGU-337
Attributes/comments:
Solvent-based
high solid acrylic polyol for exceptionally durable, glossy and clear top coats
in refinishing applications for automotive
metals, plastics and wood.
Eastman Chemical Company

Kingsport, TN, USA
800-EASTMAN
423-229-2000
www.eastman.com
Type of resins:
Cellulose derivatives; hydrocarbons resins; maleic resins; natural resins; polyester resins; polysaccharide resins; rosin
esters; water-thinned resins.
Emerald Performance
Materials
Parsippany, NJ, USA

973-404-6600
Fax: 973-404-6601
www.dic-global.com
Cuyahoga Falls, OH, USA

303-916-6700
Fax: 330-315-6466
corporate@emeraldmaterials.com
www.emeraldmaterials.com
Type of resins:
Acrylic resins;
acrylic-styrene; alkyd resins; amino; crosslinking resins;
emulsions; epoxy hardeners; epoxy
Type of resins:
Crosslinking resins; emulsions; epoxy
polybutadienes; silicone resins; silanes.
Coatings World | 97
6/27/16 3:44 PM
FEATURE Resins Supplier Directory
Currently developing an epoxidized version of its HTPB line, Hypro 2800X95EE1

is the initial product in the platform.
Attributes/comments: Emeralds CVC
Thermoset Specialties is currently building upon its hydroxyl-terminated polybutadiene (HTPB) commercial platform.
Two new technologies are in our development pipeline: hydroxyl-terminated
butadiene-acrylonitrile (HTBN) and
epoxy-terminated butadiene-acrylonitrile
polymers (ETBN).
Evonik Corporation
Richmond, VA, USA
804-727-0700
804-727-0845
asktego@evonik.com
www.tego.us
Type of resins: Acrylic resins; alkyd resins; crosslinking resins; epoxy resins;
high-solid resins; polyester resins; silicone
polyesters; silicone resins; urethane/polyurethane resins; vinyl resins
SILIKOTOP E90A
Attributes/comments: The silicone hybrid
resin is highly suitable in high solids top
coats. Applications from marine to transportation is possible. SIKIKOTOP 901
provides impressive mechanical resistance and good weather stability.
Georgia-Pacific Chemicals
Araldite PZ 3961-I Waterborne Epoxy Resin

Attributes/comments: Newly developed,
low viscocity, 1 type solid expoxy resin
dispersion for use in ambient or heat-cure
industrial maintenance coatings requiring
less than 100 g/l VOC
King Industries
Norwalk, CT, USA
203-866-5551
rshain@kingindustries.com
www.kingindustries.com
Type of resins: High-solid resins; hybrid
resins; polyester resins; urethane/polyurethane resins; water-thinned resins
K-POL
Attributes/comments: K-POL 8211 is
a unique, aliphatic and saturated diol
recommended for 2K PU coatings, elastomers and adhesives. It provides hard
films with good flexibility. K-POL 8211
will provide lower VOC systems with improved toughness, high modulus and good
exterior durability, plus excellent performance in thin film coatings. Applications
include industrial, automotive OEM &
refinish, general industrial, urethane elastomers, adhesives and sealants.
Lubrizol
Brecksville, OH, USA
800-380-5397
coatingsna@lubrizol.com
www.lubrizol.com/coatings
Atlanta, GA, USA

866-447-2436
GPChemical@gapac.comw
www.gp-chemicals.com
Type of resins: Acrylic resins; acrylic-styrene emulsions; emulsions; high-solid resins; hybrid resins; urethane/polyurethane
resins.
Type of resins: Crosslinking resins; epoxy

hardeners; phenolic resins; rosin esters;
water-thinned resins
PERMAX V1000 Vunylidene Chloride

Emulsion
Attributes/comments: APEO-free; small
particle size emulsions that gives excellent corrosion resistance and scribe creep
protection at 1.5 mil dry film thickness.
Huntsman Corporation
The Woodlands, TX, USA
888-564-9318
dawn-adair@huntsman.com
www.huntsman.com
Type of resins: Crosslinking resins; epoxy
hardeners; epoxy resins; high-solid resins;
polyamide resins; TGIC resins
Reichhold
Durham, NC, USA
919-990-7500
Fax: 919-767-8618
mediacontact@reichhold.com
www.reichhold.com
97-98 Resins Directory 0716.indd 98
Type of resins: Acrylic resins, acrylic-styrene emulsions; alkyd resins; crosslinking resins; emulsions; epoxy hardeners;
epoxy resins; high-solid resins; hybrid
resins; polyamide resins; polyester resins;
silicone polyesters; UV curing resins; urethane lacquers; urethane/polyurethane
resins; water-thinned resins
UROTUF E300-W-40
Attributes/comments:
UROTUF E300-W-40 is a UV-curable,
waterborne urethane for factory or field
applied wood coatings such as flooring
and kitchen cabinets where good durability and fast turnaround time is required.
Sartomer Americas
Exton, PA, USA
610-363-4100
800-SARTOMER
Fax: 610-363-4140
Sartomer.exto-comm@sartomer.com
www.sartomer.com
Type of resins: UV curing resins
CN9062: Dual Cure Urethane Acrylate
Oligomer
Attributes/comments: Highly functional
urethane acrylate oligomer that has applicability in dual cure systems. Produces
hard, scratch-resistant coatings. Has high
and controlled content of free hydroxyl
groups which allow for use of secondary
curing mechanisms in addition to UV/EB.
Siltech Corporation
Toronto, ON, Canada
416-424-4567
Fax: 416-424-3158
info@siltech.com
www.siltech.com
Type of resins: Amino; emulsions; epoxy
hardeners; epoxy resins; silicone resins;
UV curing resins
Silmer NH Di-8 and Silamine D208 EDA
epoxy hardeners
Attributes/comments: Silmer NH Di-8
and Silamine D208 EDA have been
shown to increase hardness and tensile
strength in epoxy resins while improving
low temperature impact resistance. CW
July 2016
6/27/16 3:44 PM
Is There A Correlation Between Contact Angle And Stain Repellency? FEATURE
Is There A Correlation
Between Contact Angle
And Stain Repellency?
Daniel J. Mania, Wacker Chemical Corp., Adrian, MI
Abstract
Architectural coatings are becoming increasingly robust as we move into the
21st century. Consumers demand that
coatings be more stain repellent or easyto-clean. To meet this demand, paint
companies advertise highly cleanable,
stain repellent paints. Many people believe that if a material beads on a surface,
it will either not stain or the stain will be
easy to remove. In some instances, stain
repellency or ease of cleaning may occur; however, there are times when beading will concentrate the stain in a small
area, making the stain more noticeable or
harder to remove.
Three basic starting point interior flat
paint formulations were used in this study.
Various binder chemistries were used
including all-acrylic, vinyl-acrylic, and
ethylene-vinyl acetate. Additionally, 18
commercial paints were also evaluated.
Four different stain repellent additives
were included (either included in the
formulated paints or post-added to the
commercial paints). The stain repellent
materials were added to approximately
80% of these samples to increase stain
repellency performance variability. Two
main output variables were used to determine if a correlation exists: (1) contact
angle as measured by goniometer, and
(2) stain repellency as determined by a
standard coating stain repellency test
method, measured using a colorimeter
for absolute change in the L* value in the

L*a*b* color space.
No correlation was found to exist between the contact angle of water or dodecane and stain repellency to nine different
household chemicals. Within a very small
set of samples, slight correlations were
found to exist between diiodomethane
and several of the household chemicals.
However, this set was less than 10% of
the total sample set of 171 samples, thus
it may not be statistically relevant. This
suggests that contact angle should not be
used as a developmental predictive tool
for stain repellency testing.
Introduction
Adhesion is a very important concept
for many industries and applications. A
simple Merriam-Webster definition of adhesion is the act of sticking or attaching
something. 1
More precisely, according to Kinloch2,
there are four main components or mechanisms of adhesion: mechanical interlocking, diffusion theory, electronic theory,
and adsorption theory. Depending upon
the type of system involved, one or more
of these mechanisms can apply.
Since this paper involves correlating
contact angle with stain repellency (or
lack of adhesion), we will focus on adsorption theory starting with the Dupre
equation, also known as the Work of
Adhesion equation3:
99-106 Tech Paper 0716.indd 99
WA = s + lv - sl
(1)
where
WA - sum of free energies
s - surface free energy of the solid phase
lv - surface free energy of the liquid phase
sl - interfacial free energy
The issue with the Dupre equation is
that it contains components that are difficult if not impossible to measure, specifically, the interfacial free energy. Young2,3
developed an equation to describe the relationship between interfacial energy and
contact angle:
s - sl = lvcos
(2)
where is the contact angle of the liquid on surface s.

Combining equations 1 and 2 yields
the Young-Dupre equation:
WA = lv (1 + cos)
(3)
The Young-Dupre equation allows for

predictability of adhesion based upon the
surface free energy of the liquid in question and the contact angle of the liquid
upon the surface in question. In this case,
the smaller the contact angle (), the better are the chances of good adhesion.
When 90, cos 0, which should
indicate lack of adhesion.
Coatings World | 99
6/27/16 5:00 PM
FEATURE Is There A Correlation Between Contact Angle And Stain Repellency?

Under normal circumstances, we
would be evaluating adhesion by attempting to find a polymeric material that
has a low contact angle on a substrate so
as to increase chances of successful adhesion. However, here we are looking to
do the opposite. We are attempting to
establish stain repellency, by either ease
of cleaning or a lack of adhesion, which
in this case would be equal to a lack of
adhesion, which in turn would be equal
to a high contact angle.
To determine if a correlation exists, we
need to measure the contact angle and calculate the surface free energy, in addition
to determining stain repellency. Multiple
methods exist to determine stain repellency4-8, some of which utilize a colorimeter
to measure the color difference in a given
color space between an un-stained/soiled
area, and a stained/soiled and cleaned
area. We used the light-dark (L*) value in
the L*a*b* color space for this work.
Surface energy analysis can be accomplished in multiple ways9-14, e.g., Fowkes,
Owens-Wendt, Wu, Schultz, Oss-Good,
extended Fowkes, Zisman, and the
Neumann Equation of State to name a few.
All these methods involve some type of
measurement and a calculation. We chose
the method of Wu because it requires only
two liquids of known and disparate polar
and dispersive components. Additionally,
the Wu method is suitable to determine
the surface energy of polymeric materials
with values up to 40 mN/m.9 We chose
water as a mostly polar liquid and either
diiodomethane or dodecane as our mostly
dispersive liquid. The values for the surface free energy of each liquid used in this
study are listed in Table 1.
We used the sessile drop technique16,17
with a goniometer to measure the contact
angle, which was then used to calculate
the surface free energy. Surface energy
can be calculated from contact angles using various formulae as mentioned previously. We focused on the Wu method
since it is useful for calculating surface
energies in the expected range of our
samples (< 40 mN/m). Water and dodecane were tried with every sample, but
in about 10% of the samples, dodecane
completely wet the surface too quickly
for us to measure the contact angles.
Table 1: Surface free energy of solvents2

Solvent
Dispersive
Component
Dlv (mN/m)
Polar Component
Plv (mN/m)
Total Surface
Energy
lv (mN/m)
Water
22.0
50.2
72.2
Diiodomethane
48.5
2.3
50.8
Dodecane
25.4
0.0
25.4
Table 2: Variables used in calculating correlation coefficients

Variables
Dispersion surface free energy
Polar surface free energy
Total surface free energy
Water contact angle
Dodecane contact angle
Diiodomethane contact angle
Absolute L* value difference from unstained to stained area
In those cases, we used diiodomethane.
Using these solvents known free energies, the contact angles, and the following
equation (calculated using Kruss Advance
Drop Shape software), we were able to
calculate the dispersive, polar, and total
surface free energy of each substrate.
(4)
where superscripts D and P represent

the Dispersive and Polar component,
respectively. A correlation coefficient
analysis data tool pack within Microsoft
Excel was used to determine correlation
coefficients between the variables listed in
Table 2.
Methods and Materials

A total of 171 paint samples, including
formulated and commercial coatings,
were used in this evaluation. Eighteen different commercial paints from six different paint manufacturers were used as part
of this study. These paints were used as
is, and four additional samples per paint
were prepared using four different stain
repellent post-add additives. Commercial

paints accounted for 89 of the test samples.
The remaining 82 samples were produced
from six different internally developed
paint formulations using the same postadd stain repellent additives. The testing
formulation variables were:
Polymer:
RhoplexTM 585 (all-acrylic)
RovaceTM 9900 (vinyl-acrylic)
VINNAPAS EF 8001 (EVA)
PVC (%):
47
57
Stain repellent additive:
None
Variant 1
Variant 2
Variant 3
SILRES BS 6500 A
WACKER Developmental Stain re
pellent additive concentration (%):
0.75
1.50
Test panels were prepared according
to ASTM D3450 - Standard Test Method
for Washability Properties of Interior
Architectural Coatings5, using a 10-mil
July 2016
6/27/16 5:00 PM

square draw-down bar. The panels were
allowed to air dry for seven days prior to
stain testing. The staining agents were
compiled from the following sources:

ASTM D1308 Standard Test
Method for Effect of Household
Chemicals on Clear and Pigmented
Organic Finishes4

Method for Washability Properties
of Interior Architectural Coatings5

Method for Washability of Organic
Coatings6

Ceramic Tile Institute of America,
Inc., CTIOA Field Report T-72
(R-02)7.

Stain
Repellency
Testing
of
Cementitious Grouts8
Grout Market Survey15
The stains used were:
Mustard
Ketchup
Red wine
Red lipstick
Coffee
Vegetable (soybean) oil
Soy sauce
Cola
ASTM stain media
Stains were applied in lines across the
surface of the paint samples so that all
the stains could be cleaned using a linear wash/abrasion machine. Various test
methods stipulate stain residence times
varying from 15 minutes to 24 hours. We
chose one hour so that none of the liquids
had sufficient time to completely dry, and
we would have a wide range of performance from good to bad.
After the one hour stain residence time,
the panels were blotted dry with a paper
towel, and quickly rinsed off under running water. The panels were then clamped
into the stainless steel tray of the abrasion
testing machine. Standard ASTM sponges
were pre-wetted and 25 mL of pre-prepared cleaning solution (3 g of water to 2 g
of ASTM non-abrasive scrub media) were
applied to the sponge according to ASTM
D3450 (100 back-and-forth scrub cycles).
The panels were rinsed again and allowed
Table 3: Example of commercial paint stain repellency data

Sample
56
57
58
59
60
Ketchup
0.57
0.06
0.97
0.51
0.54
Red wine
1.18
0.93
2.19
1.35
0.86
Mustard
1.05
0.27
0.65
0.21
0.84
Soybean oil
0.81
0.22
1.12
0.31
0.38
Soy sauce
0.88
0.25
1.07
0.55
0.38
Coffee
0.97
0.61
1.22
0.19
0.22
Cola
0.12
0.33
1.17
0.13
0.15
Red lipstick
0.22
0.52
0.50
0.20
0.31
ASTM black stain media
5.43
5.54
7.28
3.98
4.98
11.23
8.73
15.90
7.43
8.66
Total
to dry for 24 hours prior to determining

stain repellency.
Stain repellency data was collected
using a colorimeter with L* from the
L*a*b* color space as the evaluation parameter. The unstained control value was
measured on an unstained and clean area,
while values were also measured at each
of the stained and cleaned areas.
For example, the L* value for sample
1 was 96.51, and the L* for the red wine
stained and cleaned area for the same sample was 94.53. The difference of 1.98 was
used for the stain repellency data. The lower the number, the closer the actual L* value is to the original unstained area equating
to better stain repellency. Conversely, the
higher the L* value, i.e., further away from
the value for the original unstained area,
the worse is the stain repellency.
A Kruss DSA30 Drop Shape Analysis
System was used to measure the contact
angle of the liquids. Using the sessile
drop technique, water and dodecane were
used to measure contact angles, However,
dodecane spread too quickly and flat to
be read over 13 of the samples so diiodomethane was used for those 13 samples
as the second required contact angle measurement used to calculate surface energy.
An average of three readings was used to
determine the contact angle for each liquid over each sample. The two solvent
method of Wu was used to calculate surface dispersive, polar, and total surface
free energies.
The data was entered into an Excel
spreadsheet and analyzed using a correlation coefficient data analysis tool pack included in the software. We evaluated for
correlations between all contact angles,
all surface energy calculated values, and
all L* absolute values for each staining
agent to determine what, if any, correlation existed.
Equipment
10 mil stainless steel, 4 inch wide,
drawdown square
Black vinyl scrub charts

Goniometer Kruss DSA30 with
Advance Drop Shape Software

Colorimeter Byk Spectro Guide
Sphere
Results and Discussion

Given the magnitude of the data generated from this work with 171 samples, this
discussion is focused upon selected data
to highlight specific information and with
summarized data to highlight trends.
Table 3 shows the stain repellency
data for one set of commercial paints.
The stain repellency performance range
exhibited minimum values of L* around
0.2, which may not be discernible to the
human eye, while other stains resulted in
L* values > 5.0, which are clearly noticeable and do not appear to have been either repelled or easily removed. Table 3
exemplifies the range in stain repellency
performance for the commercial paints in
this study.
Coatings World | 101
6/27/16 5:00 PM

Table 4: Example of formulated paint stain repellency data
Sample
163
164
165
166
167
Ketchup
1.12
0.95
0.82
1.19
0.64
Red wine
3.96
2.94
3.95
3.97
3.14
Mustard
1.21
1.88
1.10
2.53
1.39
Soybean oil
0.89
0.84
0.54
1.53
0.53
Soy sauce
0.53
1.25
0.89
1.03
0.36
Coffee
0.54
1.65
1.12
1.53
1.08
Cola
0.99
2.57
0.93
1.17
1.12
Red lipstick
15.12
11.49
12.50
13.85
11.51
16.87
18.88
16.51
15.46
15.71
Total
41.26
42.45
38.36
42.26
35.48
Table 5: Example of commercial paint contact angle and surface energy data
Sample
56
57
58
59
60
Water contact angle ()
65.26
64.02
68.69
65.28
73.59
Dodecane contact angle ()
56.06
55.93
65.72
55.44
54.70
NA
NA
NA
NA
NA
Dispersive energy (mN/m)
15.42
15.46
12.65
15.60
15.81
Polar energy (mN/m)
21.74
22.65
21.39
21.59
15.50
Total surface energy

(mN/m)
37.16
38.11
34.03
37.19
31.31
Diiodomethane contact
angle ()
Table 6: Example of formulated paint contact angle and surface energy data
Sample
163
164
165
166
167
90.77
91.61
91.66
100.89
98.85
NA
48.14
57.97
64.70
64.78
angle ()
49.18
NA
NA
NA
NA
Dispersive energy (mN/m)
34.73
17.65
14.87
12.94
12.92
Polar energy (mN/m)
1.38
4.87
5.90
3.18
3.85

(mN/m)
36.11
22.52
20.77
16.12
16.77

Dodecane contact angle ()
A similar example is shown in Table

4 for a set of the formulated paints. The
performance for the formulated paints is
even broader showing a drastic disparity
in stain repellency values. Tables 3 and
4 highlight the broad range of stain repellency data found in this study that is
better for determining correlations since

small differences are not magnified.
The samples shown in Tables 3 and 4
are also shown in Tables 5 and 6, respectively, except that these tables highlight the
contact angles and subsequent calculated
surface energy values used to determine if
any correlation to stain repellency exists.

The range of values for contact angle and
surface energy are not as different within
each set of paint samples.
However, Table 7 shows the complete
range of data for contact angle measurements and calculated surface energy data.
Again, the broad range indicates a good
spread of data for determining whether a
correlation exists.
The sheer volume of data and the
broad range of data should have the effect of reducing variation errors in the
correlation
coefficient
calculations.
Correlation coefficients were calculated
for diiodomethane, however, the information is of spurious value since only
a small number of very similar samples
were measured using this solvent.
The summarized stain repellency data
shown in Table 8 represents a very broad
range of data with the minimum values
for most stains at or below L* of 0.5 or
less, and maximum values in excess of 10,
and in some cases in excess of 20.
The ASTM black stain media, red lipstick, and red wine were the most deleterious stains and should be considered as
being very aggressive for stain repellency
testing. Conversely, while ketchup, soybean oil and cola all have average L* values > 1.0, they show the lowest average
staining with values < 2.0. Thus, in some
cases, these materials may either not stain
or be easy to clean even though the test
substrate may not be very stain repellent.
Since contact angle of a liquid correlates to its surface energy, a relationship is expected between the chemistry
of the staining agents and the surfaces to
which they are applied. A discussion of
the chemical nature of the staining agents
is needed to understand why staining or
attraction (adhesion) occurs. Coffee contains over 20 different chemicals but the
more common components are acidic,
and thus polar (caffeic acid, chlorogenic
acid, and quinic acid).18,19
The main ingredients in tomato ketchup are ascorbic acid, acetic acid, sugars,
and lycopene, some of which are polar and
others are non-polar.19,20 Soy sauces contain many chemicals as well but primarily are comprised of multiple amino acids
and peptides, both of which have polar
July 2016
6/27/16 5:00 PM

character.21 Red wine is a veritable cornucopia of chemicals containing alcohol,
tannic acid18, and various anthocyanins,
again mostly polar species.22 Cola typically contains phosphoric acid, tannins, caffeine and flavonoids23, most of which are
polar materials. Mustard contains vinegar
(acetic acid), mustard seeds, and salt, thus
making it partially polar. Soybean oil is a
triglyceride of long chain fatty acids, and
is essentially non-polar in character. Red
lipstick contains mostly oils and waxes as
well as red dyes which are mostly non-polar materials.24 The ASTM staining media
is comprised of carbon black dispersed in
non-polar oils and solvents.
Correlation coefficients are useful
tools to determine first if a correlation
exists and second to determine whether
the correlation is a positive or negative
relationship. Table 9 lists ranges of correlation coefficients and the subjective descriptors for that particular range.
The descriptive values in Table 9 were
used to determine if any correlation exists between the staining agent and contact angle. Table 10 shows the data for
water contact angle. The only stain that
shows any significant correlation with
water contact angle is the ASTM black
stain media with a value of 0.61 making
it a positive and weak correlation at best.
Correlation coefficients were also
calculated between all the contact angle
measurements and the subsequently calculated surface energy values to determine
if a correlation coefficient is a suitable
calculation to determine mathematical relationships between stain repellency and
contact angle. The more polar a surface,
the greater is its interaction with a polar
solvent like water. This translates to a
lower contact angle. Conversely, the less
polar a surface, lesser is the interaction
between it and water, and should lead
to a higher contact angle. The data in
Table 13 bears this out with a correlation
coefficient of -0.89 between increasing
water contact angle and decreasing polar
component of surface energy. Similarly,
dodecane having almost exclusively dispersive energy should exhibit a total lack
of correlation with its contact angle and
the contact angle of water, which is the
case with a correlation coefficient of 0.12.
Table 7: Summarized goniometer and surface free energy data

Property
Number Average Minimum Maximum

of Data
Points
171
96.39
26.55
139.47
112.92
Dodecane contact
angle ()
158
56.30
11.54
99.56
88.02
13
63.50
47.01
81.77
34.76
Dispersive energy
(mN/m)
171
16.32
4.42
35.92
31.50
Polar energy (mN/m)
171
6.59
0.00
52.43
52.43

(mN/m)
171
22.90
4.44
66.08
61.64
angle ()
Table 8: Summarized stain repellency data

Property
Number Average
of Data
Points
Minimum
Maximum
Range
Ketchup
171
1.94
0.05
9.38
9.33
Red wine
171
8.76
0.51
26.67
26.16
Mustard
171
2.55
0.21
11.74
11.53
Soybean oil
171
1.54
0.03
8.74
8.71
Soy sauce
171
2.03
0.01
9.99
9.98
Coffee
171
2.52
0.19
11.83
11.64
Cola
171
1.68
0.06
9.90
9.84
Red lipstick
171
9.93
0.20
34.78
34.58
ASTM black stain

media
171
20.99
3.50
39.91
36.41
Total
171
53.66
8.06
142.61
134.55
Table 9: Correlation coefficient value descriptions

Value(s)
-1.00
Description
Perfect negative relationship
as one value increases the other decreases
-0.80 to -0.99
Negative correlation
-0.60 to -0.79
Weakly negative correlation
-0.01 to -0.59
No correlation
0.00
Completely random
0.01 to 0.59
No correlation
0.60 to 0.79
Weakly positive correlation
0.80 to 0.99
Positive correlation
1.00
Range
Perfect positive relationship

both values increase proportionally
6/27/16 5:00 PM

Table 10: Water contact angle correlation coefficient data
Correlation Calculation Property (L*)
(n = 171 samples)
Correlation Coefficient
Ketchup
0.34
Red wine
0.52
Mustard
0.20
Soya oil
0.34
Soy sauce
0.37
Coffee
0.43
Cola
0.39
Red lipstick
0.54
0.61
Total stain L* Value
0.49
Table 11: Dodecane contact angle correlation coefficient data

(n = 158 samples)
However, as previously shown, the correlation between surface energy and contact
angle does not extend to stain repellency
even upon considering the chemical nature of the staining agents.
While not perfect or absolute, the data
suggests that correlation coefficient is not
an adequate tool to describe whether a
relationship exists between contact angle
or surface energy and stain repellency.
The fact that some subjectivity exists in
all of the test methods could explain the
less than perfect relationships. For example, while the contact angle is determined
using precision equipment, the choice of
where to place the interpretative lines is
decided by an operator. Additionally,
there does exhibit some variation in the
stain removal. An average of multiple
values recorded over a range of the area
of the cleaned stains and the choice of
where to take the readings with a colorimeter are determined by an operator.
This does not mean that the testing in this
study is flawed, rather that it is imperfect
due to inherent human error.
Ketchup
0.10
Red wine
0.14
Mustard
0.04
Soya oil
0.03
Summary and Conclusions
Soy sauce
0.10
Coffee
0.06
Cola
0.07
Red lipstick
0.04
0.13
0.09
This study evaluated 171 samples for stain

repellency, contact angle with at least two
different solvents, and calculated surface
energy to determine if a correlation exists
between stain repellency, contact angle,
and surface energy. This was done in an
attempt to determine if a staining agent is
more repelled (shows less staining), or easier to clean if the staining agent exhibited
a higher contact angle (beading behavior).
Had this been the case, stain repellency
development work might be done more
expeditiously since no stain testing would
have to be done. However, the opposite
was found to be true, at least with respect
to contact angles with water and dodecane.
With the exception of a weakly positive correlation between ASTM black stain media
and water contact angle, no other relationship was shown to exist within the context
of the staining agents used and the chemical
agents used to measure contact angle.
No correlation was noted between the
chemical nature of the staining agents and
the contact angles of any test liquid or
subsequently calculated surface energies.
Hansen Solubility Parameters (HSP) may
Table 12: Diiodomethane contact angle correlation coefficient data

(n = 13 samples)
Ketchup
0.44
Red wine
0.47
Mustard
0.39
Soya oil
0.64
Soy sauce
0.67
Coffee
0.57
Cola
0.55
Red lipstick
0.63
0.34
0.49
July 2016
6/27/16 5:00 PM

provide a key to establishing a link between staining/stain repellency, the chemical nature of the substrate (coating), and
the chemical nature of the staining agents.
HSP values can be estimated25 from surface energy data but the calculations are
estimates at best, especially given the limited number of solvents used in this study.
The surface energy analysis only determines the dispersive (Van der Waals) surface energy contribution and the total polar
contribution (which in HSP is split into
hydrogen bonding and polar components).
Additionally, neither this study nor HSP adequately describes acid-base contributions.
This study, while not being comprehensive of all factors potentially involved (e.g.,
HSP, contact angle, surface energy, acidbase), does show convincingly the lack of
correlation between contact angle and stain
repellency. The problem is more complex
and should be investigated further.
This work shows that while determination of contact angle and surface energy is
suitable for some applications like adhesive
Table 13: Water contact angle correlation coefficient data

Correlation Calculation Property
(n = 171 samples)
Water contact angle
1.00
Dispersive surface free energy
-0.16
Polar surface free energy
-0.89
Total surface free energy
-0.90
Dodecane contact angle
0.12
(n = 158 samples)
0.58
Diiodomethane contact angle
0.55
(n = 13 samples)
0.63
bonding (a long term or permanent effect),

it is not appropriate as a predictive tool for
determining stain repellency in coatings.
As a result of the comprehensive study
we were able to develop a new stain repellent additive for interior architectural
coatings that improves stain repellency
to household chemicals in most paints at
concentrations ranging from 1.0 to 3.0%.
This product is SILRES BS 6500 A, for

more information contact WACKER.
Future Work
Several other components of surface
properties could be investigated to determine if they have any impact upon stain
repellency and correlating other surface
measurements to stain repellency.
6/27/16 5:00 PM
Contact angle hysteresis might possibly show a correlation to

stain concentration or to staining on non-horizontal surfaces.
As contact angle spread rate is kinetically driven, it may be
important to determine if a correlation exists between this
and stain repellency at time intervals.
For stain repellent material development work, dispersion
of the additive throughout the film and on the film surface
would be important to determine the efficacy of the stain
repellent agents and any correlation between their film locations and stain repellency properties.
HSP values of surfaces and staining agents should be studied
to determine how this affects stain repellency. CW
References
1. www.merriam-webster.com
2.
Kinloch, A.J. Adhesion and Adhesives Science and
Technology; Chapman and Hall, New York, NY, 1987.
3.
Pocius, A.V. Adhesion and Adhesives Technology: An
Introduction, 3rd ed.; Hanser Publications, Cincinnati,
OH, 2012.
4.
A STM D1308 02 (Reapproved 2013) Standard Test
Method for Effect of Household Chemicals on Clear and
Pigmented Organic Finishes.
5.
Method for Washability Properties of Interior Architectural
Coatings.
6.
Method for Practical Washability of Organic Coatings.
7. C eramic Tile Institute of America (CTIOA), CTIOA Field
Report T-72 (R-02) Subject: Stain Test
8.
M ania, D.J. Stain Repellency Testing of Cementitious
Grouts, 4th Annual American Drymix Mortar Council
Encyclopedia, 2014, 54-65.
9. w w w. kr u ss . d e /se r v ic e s /ed u c atio n - theo r y /gloss a r y /
method-according-to-wu/.
10. R udawska, A.; Jacniacka, E. Analysis for determining surface energy uncertainty by the Owen-Wendt method. Int.
J. Adhesion & Adhesives 2009, 29, 451-457.
11.
Hansen, F.K. The Measurement of Surface Energy of
Polymers by Means of Contact Angles of Liquids on Solid
Surface A Short Overview of Frequently Used Methods,
University of Oslo, 2004.
12.
Hejda, F.; Solaf, P.; Kousal, J. Surface Free Energy
Determination by Contact Angle Measurements A
Comparison of Various Approaches, WDS 10 Proceedings
of Contributed Papers, Part III, 2010, 25 - 30.
13.
D uncan, B.; Mera, R.; Leatherdale, D.; Taylor, M.;
Musgrove, R.; NPL Report DEPC MPR 020 Techniques
for Characterizing the Wetting, Coating and Spreading
of Adhesives on Surfaces, National Physical Laboratory,
Middlesex, UK, 2005.
14. OBrien, S.B.G.M.; van den Brule, B.H.A.A. Shape of a
small sessile drop and the determination of contact angle. J. Chem. Soc., Faraday Transactions 1991, 87(10),
1579-1583.
15. Unpublished internal market survey of cementitious tile

grout performance by Daniel J. Mania, Wacker Chemical
Corporation.
16. Wu, S.; Brzozowski, K.J. Surface free energy and polarity
of organic pigments. J. Colloid and Interface Sci. 1971,
37(4), 686-690.
17. Malcom, J.D.; Paynter, H.M. Simultaneous determination of
contact angle and interfacial tension from sessile drop measurements. J. Colloid and Interface Sci. 1981, 82(2), 269-275.
18. Green, P.W.C.; Davis, A.P.; Cosse, A.A.; Vega, F.E. Can
coffee chemical compounds and insecticidal plants be harnessed for control of major coffee plants? J. Agric. Food
Chem. 2015, 63, 9427-9434.
19. Presentation from BASF by Nicholas Foley, Ph.D. at a
Canadian Coatings Symposium in November 2015.
20. Sharoba, A.M.; Senge, B.; El-Mansy, H.A.; Bahlol, H.E.;
Blochwitz, R. Chemical, sensory and rheological properties of some commercial German and Egyptian tomato
ketchups. Eur. Food Res. Technol. 2005, 220, 142-151.
21. Gao, X.; Cui, C.; Ren, J.; Zhao, H.; Zhao, Q.; Zhao, M.
Changes in the chemical composition of Chinese-type soy
sauces at different stages of manufacture and its relation to
taste. Int. J. Food Sci. Technol. 2011, 46, 243-249.
22. Kennedy, J.A. Chapter 13, The Chemistry of Red Wine
Color, ACS Symposium Series, Washington D.C., 2008,
168-184.
23. Akaninwor, J.O.; Wegwu, M.O.; Nwaichi, E.O. Physico
chemical properties and the anti-nutrient status of a
non-alcoholic beverage (coke). J. Appl. Sci. Environ.
Management 2008, 12(3), 11-13.
24. Website:
http://www.dailymail.co.uk/sciencetech/article-2728711/Whats-really-lipstick-From-chillies-insectsbizarre-ingredients-perfect-pout.html
25.
Hansen, C.M. Hansen Solubility Parameters: A Users
Handbook, 2nd Edition, CRC Press, Boca Raton, FL, 2007.
Acknowledgements
Many people contributed to the work in this study and paper
and I would like to extend a heartfelt thank you to all of them:
Wacker Chemical Corporation in Adrian, MI - Lucas Madison,
Matthew Luethold, Donald Stephens, and Rick Coffey prepared paint samples, drawdowns and performed stain testing
and data collection; Amanda Andrews, Jerry Havens, Andrew
Pearson, and Jim Greene for technical discussions; Mark
Westfall and Jim Greene for editing the manuscript.
Wacker Chemie AG, in Burghausen, Germany - Dr. Stefan
Altmann and Stefan Diwisch for contact angle measurements and surface energy data.
The University of Southern Mississippi - Dr. Sarah Morgan
for supplying technical articles and information.
The Waterborne Symposium and The University of Southern
Mississippi for allowing me to publish and present this work
after the 43rd Annual Waterborne Symposium.
The American Coatings Show for allowing me to publish
and present this work at ACS 2016.
July 2016
6/27/16 5:00 PM
NGUS Chemical Company has

announced that AMP, a multifunctional specialty chemical
that is widely used in paint formulations, metalworking fluids and personal
care products, is no longer classified as
a volatile organic compound (VOC) by
Canadas Department of the Environment
(Environment Canada).
Following on the U.S. Environmental
Protection Agencys (EPA) exemption of
AMP in 2014, Environment Canada finalized an order to remove AMP from the
List of Toxic Substances in Schedule 1 of
the Canadian Environmental Protection
Act, 1999 due to the compounds negligible effect on the formation of groundlevel ozone.
As global VOC regulations continue
to proliferate, AMP has become an even
more powerful tool for environmentally-conscious customers to formulate
more sustainable products, said Mark
Henning, president and chief executive
officer of ANGUS Chemical Company.
AMPs Canada VOC-exemption marks
a huge win not only for our customers in
Canada, who now have broader formulating flexibility, but also for consumers
who will benefit from the desirable features AMP imparts in low- and zero-VOC
paints, metalworking fluids and personal
care products.
AMP (2-amino-2-methyl-1-propanol)
offers formulators comprehensive benefits including low odor, effective pH control, and a positive safety and handling
profile. The compound, which is already
being used as a key ingredient in a majority of water-based paints, now allows
Canadian paint companies to avoid reformulating with less-favorable neutralizers, such as caustic soda or ammonia.
VOCs are compounds that react with other chemicals and nitrogen oxides in the atmosphere to form
ground-level ozone, and ultimately,
harmful smog. ANGUS submitted a
VOC-exemption petition to the EPA
in October 2012 after tests performed

at an independent lab confirmed that
AMP meets or exceeds the agencys
zero-VOC benchmarks. The compound
has low global warming potential, low
ozone-depleting potential, a favorable
toxicology profile and is not considered a hazardous air pollutant (HAP)
or toxic under other federal rules. The
EPA added AMP to its list of exempt
compounds in June 2014.
Environmental impact has become
a significant factor in the consumer decision-making process, said Mike Lewis,
business vice president, United States
and Canada for ANGUS. Its no longer
enough for a product to perform at a
high level; it must provide sustainability
benefits as well. AMPs VOC-exemption
satisfies the demand of our increasingly
eco-minded customers in Canada without sacrificing functionality.
Clariant Doubles Annual

Production Capacity for
Water-Based Pigment
Preparations in Santa Clara
Clariant Corp. inaugurated its new production plant for water-based pigment
preparations in Mexico. The new plant
located in Santa Clara doubles Clariants
Mexico annual production capacity for
water-based pigment preparations and
enhances its ability to serve customers
across North and Latin America.
Pigment preparations are aqueous dispersions based on pigments. Compared
to powder pigments, pigment preparations offer faster and more cost-efficient
production, and better dispersibility.
In addition, they provide more flexibility through the possibility of tailor-made
solutions.
The capacity increase for waterbased pigment preparations will enable
Clariant to improve its support for the
regions current and emerging market
segments including decorative coatings,
107-108 Indy News 0716.indd 107
Industry News
ANGUS AMP Additive Granted VOC

Exemption Status by Environment Canada
non-impact and flexo printing, industrial

coatings, and specialties like home care,
personal care and stationery.
Clariant began production at the new
Santa Clara plant for water-based pigment preparations in Q2 2016. To complement this capacity increase, Clariant is
also scheduled to start-up a new plant for
solvent-based pigment preparations at
the same site in Q4 2016. This will produce high milling demand products for
the U.S. specialties market.
Michael Grosskopf, head of business
unit Pigments, comments: The new
production plant in Santa Clara further
improves access to growth markets in
North, Central and South America. The
new lines for water-based and solventbased pigment preparations represent an
important next step to extend the value
we can create for our customers based
on our strong formulation and dispersing
know-how for many applications, our
globally active technical service and vast
production network. The strategic location in Mexico allows us to better tailor
our offering to specific customer and application needs.
Clariant is a global leader in pigment
preparations, with worldwide production and technical service and support. Its
broad range of products covers the whole
color index.
BASF, Aspen Aerogels

Announce Strategic
Partnership
BASF SE and Aspen Aerogels, Inc. has
announced the expansion of their strategic partnership with the signing of an
exclusive supply agreement and a joint
development agreement. The agreements
are designed to increase market penetration, enhance product profitability and
facilitate the development of next generation materials.
As part of the supply agreement,
Aspen will commit to the exclusive
6/27/16 3:44 PM
Industry News
supply of its Spaceloft A2

product for incorporation
within BASFs aerogel enhanced Slentex wall system for
the building materials market. In turn,
BASF will make a low double-digit million investment in the construction of
Aspens new manufacturing plant and
BASF will become a base load customer for Aspens capacity expansion. In
addition, BASF will provide technical
support to Aspen targeting manufacturing productivity, product cost and
profit margins.
Initially, the supply agreement will
support BASFs efforts to drive growth
in the global building materials market
of its Slentex wall system incorporating Aspens patented technology. BASF
may also directly sell or incorporate
Spaceloft A2 into other systems for applications in certain building, transportation, consumer and industrial markets
worldwide. The agreement will run
through 2027.
We chose to partner with Aspen because of their superior aerogel technology platform, which we can enhance as
partners in various ways, said Raimar
Jahn, president of BASFs Performance
Materials division. The new agreements
will accelerate adoption of aerogel technology as an eco-efficient insulation material globally.
The Joint Development Agreement
establishes a framework to develop new
aerogel products and technologies. The
agreement will give BASF targeted access to Aspens world leading technology
platform while Aspen will gain access to
BASFs technical expertise, sales channels
and financial resources. The partnership
will both further Aspens market diversification and growth strategy and support
BASFs objective to provide innovative
solutions to meet current and future customer needs.
BASF has played an important role
in our development as a company and
this next phase of our relationship will
support us technically, commercially
and financially and will accelerate our
diversification into the building materials market, said Don Young, president and CEO of Aspen. As our track
record in the energy infrastructure and

subsea markets has demonstrated, our
preferred model is to partner with industry leaders to benefit from their
technical, commercial, and financial
resources. BASF is a world class company dedicated to promoting energy
efficiency by delivering next generation
products to the global marketplace. For
these reasons, BASF is a perfect partner
for Aspen Aerogels.
The origin of the partnership dates to
2010 when BASF Venture Capital made
an equity investment in Aspen and the
two companies began to explore technology development and commercialization opportunities within the building
materials market. This work led to the
development of Aspens Spaceloft A2 insulation product.
Sartomer Americas Opens

Discovery Center in Exton, PA
To promote an environment of continuous innovation, Sartomer Americas,
a business unit of Arkema Inc., has
opened a new center named the
Discovery Hub. The facility, located
in the companys Exton, Pennsylvania
office, will enhance collaboration with
customers and enable stronger teamwork to address current and future
chemical formulation challenges.
The main section of the Discovery
Hub is equipped with sleek furniture
and three computer stations, which create an ideal space for casual meetings
and collaboration. A glass-enclosed
conference room offers more privacy
and the ability to host larger gatherings. Vivid graphics on the wall help
communicate the many innovative solutions that Sartomer has developed for
its customers over the years.
We are excited to be able to offer this new space to host customers, prospective customers, and other
guests, said Kenny Messer, president
of Sartomer Americas. We hope that
when guests see this room, they will be
reminded of the high-performance, innovative solutions that Sartomer continues to provide.
107-108 Indy News 0716.indd 108
Evonik to Prepare for

Reopening of MidMolecular Polyester Plant in
Mobile, Alabama
Evonik Corporation will begin preparations for reopening its specialty polyesters production plant located in Mobile,
Ala. The revitalization of the plant is
scheduled to be completed in 2018 and
will have an annual production capacity
of several thousand metric tons. The investment will create new jobs in Mobile,
where the group currently has more than
800 employees. Specialty polyesters are
focused in the reactive hot melt adhesive
market and in the pre-coated metal market as a binder for paints, coil coatings
and increasingly, in food can coatings.
Dr. Dietmar Wewers, global head of
the Coating & Adhesive Resins Business
Line at Evonik, said, As an innovative supplier of high-quality specialty
polyesters we strive to provide a global
manufacturing footprint for our polyester platform to support projected market
growth.
Demand in the specialty polyester
market is driven by the trend towards
bisphenol A-free can coating resins.
Specialty polyesters are also highly desired in the automotive market, supporting the increased use of adhesives for
mixed material bonding and lightweight
fuel efficient designs.
Andreas Kripzak, vice president,
Coating & Adhesive Resins Americas,
added, As the solutions partner for the
coatings, adhesives and packaging industry, we will reinvest in the United States
to become a local, reliable supplier fully
committed to our customers needs and
growth.
Evonik is one of the worlds leading
suppliers of polyesters for pre-coated
metals and reactive hot melts. The company has production facilities at its
sites in Marl and Witten, Germany and
Shanghai, China. Polyesters from the
DYNAPOL brand serve as binders for
paints. In addition to coil coatings, they
are also increasingly used for food can
coatings as well as in flexible packaging. Polyesters from the DYNACOLL
brand are used in reactive hot melt applications. CW
July 2016
6/27/16 3:44 PM
eFelsko has introduced the new

PosiTector SHD Shore Hardness
Durometer for measuring the
indentation hardness of non-metallic
materials such as polymers, elastomers
and rubbers. In the corrosion industry,
durometers are commonly used to ensure
proper curing of pipeline repair wraps.
Two models are available for different
hardness ranges Shore A and Shore D.
Features include a digital display, a
user-adjustable measurement time with
onscreen countdown and an Auto Ignore
mode that disregards readings below 20
and above 90 to comply with international standards. Other features include internal memory, statistics and a USB port.
Graco Releases Updated

RTX Texture Sprayer for
Interior, Exterior Finishing
Graco Inc. has announced the release of
its updated RTX Texture Sprayer product
line, ideal for interior and exterior finishing of textured materials, including EIFS,
drywall mud and decorative finishing.
The updated units, with separate models for interior and exterior applications,
offer significantly improved production
rates and improved finish end results over
competing technology.
The RTX Texture Sprayer line features
Graco RotoFlex & RotoFlex II Pumps,
with an exclusive flow-through design
that provides smooth material flow for
uniform coverage and a consistent spray
pattern. The units also feature Gracos
FlexChange pump system, which allows
customers to replace the RotoFlex pumps
with a spare in seconds, with no tools
required.
Some RTX TextureSprayer models include features such as: Gracos MaxPower
DC Motor, which allows users to eliminate the common power issues associated
with long extension cords; SmartStart,
a feature that lengthens machine service
life by shutting the machine off when the
sprayer gun trigger is not being pulled;
and WideTex, spray tips that improve efficiency by creating an extra wide spray
fan pattern.
LUMIFLON FEVE Resins

Provide Color Retention,
Corrosion Resistance to
Auto Coatings
LUMIFLON fluoroethylene vinyl ether
(FEVE) resins from AGC Chemicals
Americas help automotive and aftermarket manufacturers create ultradurable coatings for cars and their
components in a wide range of colors and glosses. LUMIFLON is ideal
for exterior coating systems that can
be used on automobile bodies, doors,
door handles, bumper fascia, wheel
emblems, lettering and logos, tail
light lenses and aluminum wheels.
LUMIFLON can be used in any area
where outstanding weather and chemical resistance are required, even on
dashboards and upholstery.
LUMIFLON-based topcoats have
been shown to yield over five times the
lifespan of acrylic urethane coatings typically used in the automotive industry, the
company reported.
In addition to its superior durability,
LUMIFLON also offers manufacturers
the ability to formulate both high and
low gloss colored paint systems. Its compatibility with a range of pigments and
colors means that automotive engineers
can choose coatings with an almost infinite variety of color and gloss combinations that will exhibit markedly less
fading, discoloration or chalking for the
life of the coating. A transparent fluororesin, LUMIFLON resins can be used to
make both clear and pigmented coatings
in more than 230 colors in high gloss to
flat finishes.
LUMIFLON resins are available in
conventional solvent grades, as well as
powder coated, water-based resins and
solid resins for the production of low
VOC and HAPS free environmentally
109 Supplier News 0716.indd 109
Suppliers Corner
DeFelsko Introduces New PosiTector

SHD Shore Hardness Durometer
friendly coatings. LUMIFLON is the first

solvent-soluble fluoropolymer resin for
coatings that can be cured at room temperature or at elevated temperatures.
Troy Supports OBPA, Offers

a Full Line of Micropel
Preservatives for Plastics
Troy Corporation is committed to its
continuing support of OBPA-based
biocides for plastics applications in
the U.S. As the only supplier to support OBPAs EPA re-registration, Troy
foresees strong and increasing demand
for OBPA from flexible PVC manufacturers. Troy offers customers a full line
of products under its Micropel brand
of antimicrobials for plastics, based on
proven OBPA technology as well as alternatives, such as IPBC.
OBPA is one of the most cost-effective,
efficacious materials available. Troy is
committed to investing in technology that
gives customers reliable performance and
lowest cost-to-treat. With a team of regulatory professionals committed to OBPAs
registration, Troy is well-positioned to
support this technology in order to enable customers to lead in their respective
markets and achieve performance and
cost objectives.
OBPA technology is vital to the
success of numerous Micropel customers products, says David E. Faherty,
vice president, Troy Corporation.
Manufacturers value the performance
and cost-in-use they achieve with OBPAbased Micropel preservatives, continues
Faherty.
Troy customers in all regions except
Europe can continue to use OBPA without any service interruptions. For those
customers who wish to formulate with
OBPA alternatives, and for those who export treated articles to Europe, Troy offers
a full range of Micropel and Plastiguard
preservatives based on other actives,
which provide excellent performance in
plastics and related materials. CW
6/27/16 3:45 PM
People
Arkema Coating Resins Promotes

Two to North American Leadership Roles
rkema Coating Resins, a business

unit of Arkema, has named Eric
Kaiser general manager and Eric
Dumain the new commercial director for
North America.
As the new general manager for North
America, a wholly new position within
the business, Kaiser will oversee all manufacturing and commercial operations, as
well as growth opportunities for Arkema
Coating Resins in the region.
Dumain will assume Kaisers previous
position as commercial director, where he
will be responsible for all North American
marketing and sales efforts.
Kaiser has been with the team currently comprising Arkema Coating
Resins since 1988, filling multiple roles
with Union Carbide, Dow Chemical and
Arkema. When Arkema acquired the
business assets in 2010, he assumed the
role of global marketing director and
later transitioned to business director for
the Americas.
Dumain has been with Arkema for five
years, serving as the global business development manager. He has more than 20
years of experience in the coatings industry and came to Arkema after positions
with Reichhold and Cook Composites
and Polymers.
Sartomer Americas
Appoints Senior Account
Manager
Sartomer, a business unit of Arkema Inc.,
has named Jeff Prosser senior account
manager for Texas and the southeast U.S.
In his new role, Prosser will help educate
and connect customers in his region with
innovative specialty chemical solutions
that best serve their coatings, adhesives,
inks, elastomers, and other formulation
needs. He will report to Chris Petrangeli,
Americas sales director.
Prosser joins Sartomer with thirty
years of sales and marketing management experience with product lines of
monomers, polymers, SAPs, dispersants,
pigments, and surfactants. He has extensive knowledge and experience serving

the inks, coatings, packaging, and adhesives markets.
Since 2012, Prosser has managed commodity and specialty chemical product
sales as a global key account manager
for BASF. Prior to that, he was a North
America marketing manager for BASF.
Prosser has also held various sales and
account management positions with companies such as Ciba Specialty Chemicals,
Allied Colloids, CPS Chemical Group,
Rhodia
Corporation,
and
Bayer
Corporation.
Oxea Names Salim Al

Huthaili New CEO
Oxea has appointed Dr. Salim Al Huthaili
the new chief executive officer of the company. With the decision of the Board of
Oxea Srl to implement a new management structure with a CEO, Al Huthaili
took over this new role in Oxeas management organization. Dr. Martina Flel,
who has so far served as the speaker of
the prior executive board of three managing directors, will leave the company. Al
Huthaili first joined Oxea in early 2015
as chairman of the Supervisory Board,
and then later became a member of the
Oxea executive board with increasing
responsibilities.
Fernando Espinosa Sr.

Promoted to President of
Andes Chemical Corp.
Andes Chemical Corporation has promoted Fernando J. Espinosa to president of Andes Chemical Corp. He has
been a key component of the operation
for nearly 15 years in various capacities.
Andes Chemical is an innovative solutions and logistic provider of specialty
chemicals into the Caribbean Central
and South America.
Brian Pryor Joins The

Chidley & Peto Company
110 People 0716.indd 110
Brian Pryor has joined The Chidley &

Peto Company as an account executive.
Pryor will be responsible for customers
in the inks, coatings, adhesives, and plastics industries located in Illinois, Kansas,
and Missouri. Pryor has more than 30
years in the ink industry, with over twenty years at Sun Chemical and five years
at Siegwerk. His background includes
chemistry, technical account manager and
technical sales.
DuluxGroup Appoints New

Director
DuluxGroup has announced the appointment of Graeme Liebelt as a nonexecutive director. Liebelt has significant
board experience including 19 years on
ASX listed company boards, and substantial non-listed and not-for-profit
board activity. He is currently chairman
of Amcor Ltd. and a director of ANZ
Banking Group Ltd. and The Australian
Foundation Investment Company Ltd.
(AFIC).
Liebelt also has more than 30 years
experience in senior leadership roles
across a breadth of industries in Australia
and overseas, including managing
Director and CEO of ASX listed Orica
Limited from 2005 until 2012. He also
held senior roles at DuluxGroup between
1989 and 1997, including managing director from 1995 until 1997.
D.B. Becker Continues to

Expand U.S. Reach
D.B. Becker, a Maroon Group LLC
Company, continues to expand its U.S.
reach with the addition of Josh Fink as an
account manger to cover Southern New
Jersey and Eastern Pennsylvania.
Fink has been in the chemical industry
for nine years with the Sherwin-Williams
Company in which he was a three-time
recipient of the Presidents Club Honors.
During his time with Sherwin-Williams,
he held positions in operations, marketing, and, most recently, sales. CW
July 2016
6/27/16 10:28 AM
Meetings
RMCA International Roof Coatings Conference

to take place July 18-21 in Philadelphia
July 18 - 21, 2016
RCMA International Roof Coatings
Conference
Location: Philadelphia, PA
Venue: Sonesta Hotel
Website: www.roofcoatings.org
July 25, 2016

2016 CSCT Golf Outing
Location: West Chicago, IL
Venue: St. Andrews Golf Course
Contact: mlaing1969@gmail.com
Phone: (630) 231-3100
Website: www.chicagocoatings.org
August 4 - 6, 2016
16th Asia Coatings Markets
Location: Bangkok, Thailand
Venue: Centre for Management
Technology
Contact: Fu Huiyan
Phone: 65-6346-9113
Website: Error! Hyperlink reference not
valid.
Email: huiyan@cmtsp.com.sg
August 15, 2016

NACE MR0175/ISO 15156 One-Day
Seminar
Location: Kuala Lumpur, Malaysia
Venue: Shangri-La Hotel Kuala Lumpur
Contact: Lesley Martinez
Phone: +1 281-228-6413
Email: Lesley.Martinez@nace.org
September 6 - 8, 2016
NACE Egypt Corrosion Conference
Location: Cairo, Egypt
Venue: International Cairo Citystars
Contact: CaLae McDermott
Phone: +1 281-228-6263
Email: calae.mcdermott@nace.org
September 15, 2016

Windy City Coatings Course
Location: Chicago, IL
Venue: DePaul University, OHare
Campus
September 21 - 23, 2016

Asia Pacific Coatings Show 2016
Location: Bangkok, Thailand
Contact: jessicasn@dmgeventsme.com
September 22 - 23, 2016

Wood Coatings & Substrates
Conference
Location: Greensboro, NC
Venue: University of North Carolina,
Greensboro
September 25 - 29, 2016

Corrosion Technology Week 2016
Location: Houston, TX
Venue: Royal Sonesta
Contact: Lesley Martinez
Phone: 281-228-6413
Email: Lesley.Martinez@nace.org
October 4 - 7, 2016
CoatingsFest 2016
Location: Tulalip, Washington
Website: www.pnwsct.org
October 6 - 7, 2016
CEPE Annual Meeting
Location: Lisbon, Portugal
Contact: CEPE
Website: www.cepe.org
October 7 - 9, 2016
2016 Greenbuild International
Conference & Expo
Location: Los Angeles, CA
Venue: Los Angeles Convention Center
October 20 - 22, 2016

Paints & Coatings Expo Pakistan
Location: Pakistan
Venue: Karachi Expo Center
Contact: Wajahat Ali Khan
Phone: +923332299783
Website: www.youtube.com
Website: IPCEXPO.NET
October 25 - 27, 2016

Element Oilfield Engineering with
Polymers Conference
Location: London, U.K.
Venue: Millennium Gloucester Hotel
Contact: CaLae McDermott
Phone: 281-228-6263
Email: calae.mcdermott@nace.org
Website: oilfieldpolymers.nace.org
November 1 - 4, 2016
2016 SEMA Show
Location: Las Vegas, NV
Venue: Las Vegas Convention Center
Website: www.semashow.com
November 9 - 10, 2016

Central Asia Coatings Show 2016
Location: Almaty, Kazakhstan
Venue: Almaty Towers
Contact: Fan Landers
Phone: +44 (0) 1737 855 107
Website: www.coatings-group.com
October 11 - 14, 2016

Bring On The Heat China 2016
Location: Shanghai, China
Contact: Bei Gu
Phone: +86 21 5117 5418
Website: www.asiacoat.com
Email: bei.gu@nace.org
October 12 - 13, 2016

North Africa Coatings Congress 2016
November 30 - December 2, 2016

CHINACOAT 2016
Location: Guangzhou, China
Venue: China Import and Export Fair
Complex (Canton Fair Complex)
Contact: Sinostar
Website: www.chinacoat.net
Email: info@sinostar-intl.com.hk CW
Location: Casablanca, Morocco

Venue: Hyatt Regency Hotel
111 Meetings 0716.indd 111
Contact: DMG Events

Phone: +44 (0) 1737 855 021
Website: www.coatings-group.com
Email: DianaFahmi@dmgeventsme.com
6/27/16 3:45 PM
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CLASSIFIEDS CWM0716.indd 112
July 2016
6/29/16 9:30 AM
Classifieds
Products & Services
Advertising Index
Company Name
ACT Test Panel Technologies

Alberdingk Boley
Alex Color Company
Asia Pacific Coatings Show
BASF
Beyond Advanced
Blairgowrie Associates, LLC
Burgess Pigment Company
BYK USA Inc.
Chemark Consulting
Chromaflo Technologies
Conn & Company
Custom Milling & Consulting, Inc.
Elementis Specialties
Emerald Performance Materials
Engineered Mills, Inc.
Evonik Industries
GTI Graphic Technology, Inc.
keim additec surface
KW Container
Lanxess
Lawter Inc.
Lonza Inc.
McDaniel and Associates, PC
Micro Powders Inc.
Miwon Specialty Chemicals Co., Ltd.
NETZSCH Premier Technologies, LLC
Nexeo Solutions
Palmer Holland
PAN Technology
Pilot Chemical Co.
Powder Technologies, Inc.
PPG Industries
R.E. Carroll, Inc.
Reichhold, Inc.
Shamrock Technologies Inc.
Siltech Corporation
Specialty Polymers, Inc.
Troy Corporation
Unimin
Page
Phone
CLASSIFIEDS CWM0716.indd 113
Website
19
517-439-1485
www.acttestpanels.com
51
www.alberdingkusa.com
29
888-ALEX COLOR
www.alexcolor.com
93
www.coatingsgroup.com
Cover 4
www.basf.us/dpsolutions
43
www.chicagocoatings.org
24
602-539-2683
www.blairgowrieassociates.com
55
478-552-2544
www.burgesspigment.com
5
203-265-2086
www.byk.com
89
910-692-2492
www.chemarkconsulting.net
16
chromaflo.com
23
814-723-7980
www.connblade.com
87
610-926-0984
wwwcmcmilling.com
Cover 3
609-443-2000
www.elementis.com
21
800-477-1022
www.emeraldmaterials.com
69
847-548-0044
www.EMImills.com
7
732-981-5346
www.tego.us
75
845-562-7066
www.gtilite.com
57
708-269-1304
www.keim-additec.de
53
334-566-1563
trusnapcontainer.com
49
www.bayferrox.com
11
www.lawter.com
14
678 624 5800
www.lonza.com
89
512-472-8282
www.technologylitigators.com
27
914-793-4058
www.micropowders.com
65
484-872-8711
www.Miramer.com
73
484-879-2020
www.netzsch.com/gd
15
800-531-7106
nexeosolutions.com
12-13
800-635-4822
palmerholland.com
77
201-438-7878
www.pantechnology.com
79
800-707-4568
www.pilotchemical.com
59
609 914 0521
www.powdertechusa.com
3
www.ppg.com
25
800-257-9365
www.recarroll.com
17
800-431-1920
www.Reichhold.com
Cover 2
973-242-2999
www.shamrocktechnologies.com
75
416-424-4567
www.siltechcorp.com
61
800-770-7523
www.specpoly.com
63
973-443-4200
www.troycorp.com
71
800-243-9004 www.brilliantadditions.com
6/29/16 11:24 AM
Final Coat
Axalta Racings Solar Flare Paint Scheme

Heats Up Sonoma
xalta Coating Systems returned to the racetrack with its Solar Flare paint scheme. Axaltas radiant paint was featured on
the No. 88 Axalta Chevrolet SS driven by Dale Earnhardt Jr. at Sonoma Raceway. Sonoma is the first of two road courses
that NASCAR drivers ave to tackle during the Sprint Cup Series 2016 season.
We used to test really hard to figure out how to get better at road courses. Now we just show up and race and thats really been
refreshing. Its made the race weekends a lot more enjoyable, said Earnhardt. Weve had great racecars at the road courses and
weve gotten better as a team, which has helped me a lot and helped carry me. Sonoma is the most challenging track that I race at.
Weve just got to take care of our car and make it through to the end.
Last season, Earnhardt made his fifth consecutive appearance in the championship-deciding Chase for the NASCAR Sprint Cup.
The Hendrick Motorsports driver is a two-time winner of the prestigious Daytona 500 and has been selected as NASCARs Most
Popular Driver a record 13 consecutive times.
At Axalta, we look forward to every race with enthusiasm and optimism, said William Sturgill, Axalta Racing director. Its a
great opportunity to share our passion for cars with our customers and cheer for one of the sports best. CW
114 Final Coat 0716.indd 114
July 2016
6/27/16 3:46 PM
Yesterday, today,
and tomorrow . . .
Have we got a solution for you.
Elementis has been an innovator

in chemistry for more than 60 years.
The good news is weve only just begun.
Throughout its history, Elementis has built a reputation as an industry
leader with a wide range of additives and rheology modifiers. We are the
first producer of organoclay and anti-settling agents, an early innovator of
associative thickeners, and the developer of groundbreaking products such as
RHEOLATE CVS, THIXATROL MAX, and the TINT-AYD AT zero-VOC colorant
line. Our next generation of zero-VOC thickeners debuted not long ago.
609.443.2000
Undoubtedly, we are best known for rheological additives and wrote the
industry guide on rheology more than 40 years ago. Elementis is committed
to continued innovation by aligning our exceptional technical resources to
create new opportunities for our customers.
800.866.6800
Stay tuned. Theres more to come.
contactus.web@elementis.com
Get to know us better.
www.elementis.com
Elementis: a leading world producer of rheology,

colorants, and surface active chemistry
AD TEMP0415.indd 1
3/28/16 2:08 PM
We create
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For coatings performance that stands up to unpredictable

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Contact your BASF representative for innovative solutions to meet
your challenges of the 21st century. At BASF, we create chemistry.
basf.us/industrialcoatings
= registered trademark of BASF Corporation
AD TEMP0415.indd 1
6/23/16 9:15 AM

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CV1.

Table of Contents July 2016 Vol. 21, No. 7

Top Companies Report

China Coatings Summit Review

Business Corner ................................................... 30

International Coatings Scene ............................... 33

Classified Ads..................................................... 112

Advertising Index............................................... 113

Major Changes in the

his year the coatings industry is facing a number of major changes

A Rodman Media Publication

6 | Coatings World www.coatingsworld.com

PPG to Acquire Global Coatings Services

PG has announced that it has

close in the third quarter 2016, subject to

assembled products. It operates on-site

Flugger Group ...............................44

Fujikura Kasei ...............................44

Pacific Paint Boysen........................44

Grebe Group .................................44

H.B. Fuller ....................................44

Hempel ............................. 10, 40, 44

PPG.......................... 8, 10, 28, 40, 44

ICA Group ....................................44

Industrias Titan .............................44

Ring International Holdings...........44

AB Wilh. Becker ............................44

Ace Paint .......................................44

RPM International................... 10, 44

AkzoNobel .......................... 8, 40, 44

Kansai Paint ..................................44

Kapci Coatings ..............................44

Samhwa Paints Industrial...............44

Asian Paints ..................................44

Karlworwag Lack-Und Farbenfabrik.44

Axalta........................ 10, 28, 44, 114

Sherwin Williams..................... 10, 44

BASF Coatings .................... 8, 10, 44

Benjamin Moore ...........................44

Berger Paints .................................44

Kunsul Chemical Industrial............44

Betek Boya ....................................44

Boero Group .................................44

Chugoku Marine ...........................44

Tikkurila Oyi........................... 40, 44

Cloverdale Paint ............................44

Tnemec Company.................... 28, 44

Dai Nippon Toryo .........................44

National Paints Factories...............44

Diamond Vogel .............................44

Dunn Edwards ..............................44

Whitford Corporation.............. 10, 44

8 | Coatings World www.coatingsworld.com

BASF Breaks Ground on

July 2016 www.coatingsworld.com

MetoKote service centers, where they are

The methodology financially

Axalta Opens Expanded Technical Center

xalta Coating Systems recently opened its newly expanded

demonstration center, as well as offices.

the campus of its powder manufacturing

RPM Acquires Leading U.S.

Matrix Coatings to Join the

10-25 Fresh Paint 0716.indd 10