Valspar Corp. has bolstered its rapidly growing presence in China with a new research and development center there.
The Valspar Applied Science and Technology Center will employ more than 200 scientists to support the company’s continued growth in Asia Pacific and its research and development efforts worldwide.
|Valspar’s billion-dollar product line in China includes protective coatings for steel containers.|
“This facility enables us to bring a higher level of value to our relationships in the Asia Pacific region by allowing us to be closer to our customers,” said Valspar President and CEO Gary Hendrickson.
“The research and development center will give our customers a unique competitive advantage.”
The Minneapolis-based coating company launched the center, in Shunde, China, in December with a grand opening that drew more than 400 customers, suppliers, government officials and other guests.
Valspar’s 2011 global sales totaled $4 billion, including $1 billion in Asia Pacific. Nearly half of the sales in the Asia Pacific region were in China, where Valspar now has five manufacturing facilities.
|CEO Gary Hendrickson said the new center would give Valspar customers “a unique competitive advantage.”|
Founded in 1806, Valspar is the world’s sixth-largest coatings company and the No. 1 supplier of packaging coatings.
In China, the company produces and sells coatings for shipping containers, construction equipment, building products, consumer paints and numerous other end markets.
Said Hendrickson: “Valspar’s strategy is to continue to invest in our people and our businesses in China.”