Valspar buys Brazilian coatings maker
Valspar Corp. has bought a Brazilian manufacturer of powder coatings used in appliances, building products, transportation and other general industrial markets, the company announced Tuesday. Isocoat Tintas e Vernizes Ltda. serves customers in Brazil, Argentina and Colombia. The company, which is located in Araçariguama, state of São Paulo, had 2010 sales of approximately $34 million, Valspar. “Isocoat further strengthens Valspar’s presence in the fast-growing coatings markets in Latin America,” said Gary Hendrickson, Valspar president and chief operating officer.