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AkzoNobel, PPG Expand Outside US

Friday, July 8, 2011

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Global consolidation of the coatings industry continues, as AkzoNobel and PPG Industries—the world’s top two paint companies—have each swallowed another firm in emerging markets.

AkzoNobel has announced plans to acquire coatings manufacturer Schramm Holding AG as well as the coatings business operated by Schramm's largest shareholder, SSCP Co. Ltd. of Korea. SSCP reported $247 million in sales last year

With competition growing among coatings companies, particularly in the booming Asian market, “SSCP has made a strategic decision to exit the business rather than play among the big guys,” the Financial Times reports.

Keeping Sights on Asia

Schramm, a Germany-based investment holding company, manufactures and distributes a wide range of automotive and general industry coatings, coil coatings, and electrical insulation paints and varnishes.

 Schramm Coatings

 Schramm Coatings

Schramm Coatings, a subsidiary of Schramm Holding, dates to 1810.

The company’s subsidiaries include Schramm Coatings GmbH (which began producing paints for coaches and trams in 1845), Schramm Coatings Iberia S.A., Schramm Korea, Schramm Hong Kong, Schramm Shanghai, Schramm Tianjin and Ultra Million Limited.

The company has grown by 18 percent annually over the last three years.

SSCP has a strong position in the Korean mobile phone market and also supplies coatings to the wider consumer electronics industry. More than half of the combined revenues of Schramm and SSCP are in Asia.

"This acquisition underlines our determination to accelerate sustainable growth and build global leadership positions in our core markets," said Leif Darner, AkzoNobel's Executive Committee member responsible for Performance Coatings. "It offers an excellent opportunity for us to significantly boost our Industrial Coatings activities, particularly in Asia."

Strengthening Specialty Plastic Coatings

Added Conrad Keijzer, Managing Director of AkzoNobel Industrial Coatings: "This acquisition makes us the global leader in specialty plastic coatings for mobile devices, laptops and TVs. It will also enhance our position in the market for adding color and design to vehicle interiors, which is gaining momentum in China. Additionally, we see significant synergies in both raw materials and operational costs."

Under the terms of the transaction, Schramm's shareholders will receive a voluntary conditional offer in cash for every Schramm share, valuing the share capital of the company at about €142 million (about $202.5 million US).

PPG acquires S. Africa’s Ducol

PPG, meanwhile, has acquired Ducol Coatings South Africa (PTY) Ltd., which has been an importer and distributor of PPG’s automotive refinish products in South Africa since 2003. Financial terms were not disclosed.

Ducol Coatings, based in Krugersdorp, northwest of Johannesburg, was formed in 1990 and has been active throughout South Africa and in Namibia.

 Ducol Coatings

 Ducol

Ducol has distributed PPG automotive coatings in South Africa since 2003.

“We are pleased with the acquisition of the Ducol Coatings business, as this investment illustrates PPG’s commitment to grow its coatings presence in the region,” said John Outcalt, PPG vice president, automotive refinish.

Growth Forecast

“PPG now will be able to directly serve customers in the region with our high-quality, innovative automotive refinish products and our customer service, technical support and training programs.”

PPG will continue to use the Ducol brand, as well as Ducol Coatings’ former franchisee and distributor network, which serves the growing South African and surrounding markets.

Many of the world’s largest automotive manufacturers have a presence in South Africa, and PPG anticipates that population growth and higher purchasing power will lead to more vehicle sales and increased demand for automotive refinish products over the next several years, Outcalt said.

   

Tagged categories: Acquisitions; AkzoNobel; Coatings manufacturers; Mergers; PPG

Comment from Jerry LeCompte, (7/11/2011, 10:04 AM)

Remember when "global leadership" meant the USA? Before death by government.


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