PaintSquare.com
      | Connect Follow us on Twitter Like us on Facebook
About | Subscribe | Advertise
  

 

Paint and Coatings Industry News

Main News Page


Valspar Completes Acquisition of Wattyl

Thursday, September 23, 2010

Comment | More

The Valspar Corp. has completed its previously announced acquisition of Australian paint manufacturer Wattyl Ltd.

Minneapolis-based Valspar acquired all outstanding Wattyl shares for about $142 million and assumed Wattyl’s existing debt. Wattyl had 2009 sales of $381.4 million, Valspar said.

On Sept. 13, Wattyl announced that the Federal Court of Australia had approved the deal, which the companies announced June 28. Trading in Wattyl shares on the ASX was suspended the same day.

‘Outstanding Opportunity for Growth’

Under the arrangement, The Valspar (Australia) Paint Acquisition Pty Ltd. (VAPA), a wholly owned subsidiary of The Valspar Corp., acquired all of Wattyl’s shares for $1.67 cash each. Wattyl’s shareholders approved the transaction on Sept. 8.

“Wattyl is a market leader with excellent brands, high-quality products and broad distribution across all channels throughout Australia and New Zealand,” Valspar Chairman and CEO William L. Mansfield said when the acquisition was announced.

“This latest acquisition builds on our increasing presence in the Asia-Pacific region and presents an outstanding opportunity for growth.”

Wattyl’s paint and coatings brands include the Interior Design i.d., Solagard, Aquatrim, Weathergard, Estapol, Granosite, Killrust, and Solver Paints labels.

Wattyl Board Changes

Wattyl has also announced the appointments of Rolf Engh, Lori A. Walker and Howard C. Heckes as company directors, effective Sept. 13. Ian Fraser, Patricia Akopiantz and Mark Luby resigned as directors the same day.

The appointments and resignations were conducted in accordance with the terms of the acquisition.

Valspar Financials

On Monday (Sept. 20), Valspar announced that its board had declared a quarterly dividend of 16 cents per share, payable Oct. 15 to all common stockholders of record on Oct. 1.

In August, the company reported third-quarter sales of $873.9 million, a 10% increase from the same period last year.

Valspar, established in 1806, produces consumer, packaging, wood, industrial and automotive coatings; custom finishing systems; and coatings intermediates.

   

Tagged categories: Acquisitions; Coatings manufacturers; Mergers; Valspar; Wattyl Limited

Comment Join the Conversation:

Sign in to our community to add your comments.

Polyval Coatings
Polyflex® Polyurea Linings

Polyflex ™ new Polyurea Geotextile Membrane System has been specifically engineered to protect the environment in containment applications.
www.polyflexlinings.com


Hempel (USA) Inc.
HEMPEL PROTECTIVE COATINGS

Efficient systems and high quality products to reduce your maintenance costs. Visit Hempel Protective for more information.


Wasser High-Tech Coatings Inc.
Wasser Coatings Protect

Wasser Coatings offer a complete range of Moisture Cure Urethane (NEPCOAT approved) systems in addition to Polyurea membranes and linings(NSF).
www.wassercoatings.com


Minerals Research & Recovery

HIGH PERFORMANCE ABRASIVES


“Made in the USA!”

Why recycle waste from other countries? Go FASTER, CLEANER, at 1/3 THE COST with MR&R “All-American” Sharpshot®HP!!

WATCH THE VIDEO


ABKaelin, LLC
Quality is our bottom line

Services include:
• Environmental, Health &
  Safety
• Contractor QP Certification
• Quality Assurance Programs
  and Auditing
• SSPC C3/C5 and other
  Training
• Coatings
• Design/Construction
See our website at abkaelin.com or contact us today abkaelin@comcast.net


Armorthane
Polyurethane and Polyurea Sprayed-On Protection

Buy POLYURETHANE or POLYUREA coatings and spray equipment for years of proven chemical resistance, water- and weather-proofing, and structural improvements.


HoldTight Solutions Inc.
NO FLASH RUST -
NO CONTAMINANTS

Our HoldTight®102 salt remover & flash rush inhibitor prevents flash rust by removing surface contaminants.
Contact us for your nearest distributor. (800) 319.8802 sales@holdtight.com


U.S. Zinc
Historic Reliability. Innovative Performance.

The reliable protection properties of our zinc dust help combat deterioration and corrosion in your paints and coatings. U.S. Zinc - Helping the world work™

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2015, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com