Welcome Guest to Coatings World    Login || Register
Last Updated Friday, July 25 2014
Print

Valspar to Reduce Manufacturing Capacity



By Jason Lawton



Published August 15, 2005
Along with announcing its third quarter financial performance, Valspar’s president and CEO, William L. Mansfield, said the company will reduce its manufacturing capacity worldwide by approximately 10% by the end of 2006.  

For the third quarter ended July 29, Valspar’s sales rose 10.7% to $725.4 million compared to last year’s third quarter, with net income reported at $45.7 million versus $44.9 million for the comparable period last year. Third quarter results include after tax charges of $2 million associated with the planned closure of seven manufacturing facilities, according to the company.

Mansfield said the third quarter charge is the first phase of a “broad-based strategy to reduce our manufacturing capacity and enable us to better utilize our remaining plants.”  

Plans call for reducing manufacturing capacity worldwide by approximately 10% “in order to focus our capital investments on our best facilities, increase efficiency and improve our ability to service and support our customers,” Mansfield said.

Valspar’s income for the first nine months of fiscal 2005 was $96.6 million compared with $102.3 million for the same period a year ago. Sales for the first nine months rose 10.7% to $1.98 billion compared to $1.79 billion during the comparable period a year ago.


blog comments powered by Disqus
Receive free Coatings World emails
Sign up now to receive the weekly newsletter, and more!

Enter your email address:
Company Spotlight
Keeneyes
18F, No.85, Sec. 1, Chung-Shiao E. Rd.
Taipei, Taiwan, 100
R.O.C.
View Profile
Buhler Group (Nanotechnology)
13105 12th Ave. North
Plymouth, MN, 55441-4509

View Profile
Shamrock Technologies, Inc.
Foot of Pacific Street
Newark, NJ, 07114
USA
View Profile
Lubrizol Advanced Materials, Inc.
9911 Brecksville Road
Cleveland, OH, 44141
US
View Profile
Micro Powders, Inc.
580 White Plains Rd.
Tarrytown, NY, 10591
US
View Profile
AZ Electronic Materials Co., Ltd.
No. 458-6, Sinsing Road Hu Kou Township Hsinchu Country 303, Taiwan
Hsinchu Country, Taiwan, 303
Taiwan
View Profile
Sun Chemical Corporation Performance Pigments
5020 Spring Grove Avenue
Cincinnati, OH, 45232
USA
View Profile
BASF Corporation
100 Campus Drive
Florham Park, NJ, 07932
US
View Profile
Houchi Chemical Co., Ltd
No.56, Fu Chow Street
Taipei, Taipei, 100
Taiwan
View Profile
Sunin Machine Co., Ltd.
No.96, Chiao Ho Rd ,Chungho Dist
New Taipei City, Taiwan , 235
Taiwan Roc
View Profile
Follow Coatings World On