18 Hempel A/S
Kgs. Lyngby, Denmark
www.hempel.com

PRIVATE COMPANY
YEAR ESTABLISHED: 1915
COATINGS REVENUES: $1.152 billion
TOTAL REVENUES: $1.152 billion
SEGMENT BREAKDOWN
Marine
Protective
Container
Yacht
Decorative

KEY PEOPLE
Pierre Yves Jullien, group president and CEO; Kim Junge Andersen, group executive VP and CFO; Key managers: Jannik Allentoft, marine; Sueno Johnsen, protective; Lars Hermansen, container; Christian Ottosen, yacht; Soren Nyburg Rasmussen, technical director.

In 2009 Hempel’s revenues fell to $1.152 billion. The firm announced during the year that in order to meet worldwide demand, it is building two new factories in China and Poland, and planning a third in Argentina. The Polish and Chinese factories should come online in 2010.

On the merger and acquisition front, beginning in January 2009, in a deal worth €105 million, Hempel acquired the remaining shares of Hempel-Hai Hong from China Merchants Holding (International) Co. Ltd, integrating all of its activities in China and the Asia Pacific region into one organization. As part of the Asia Pacific regional integration, Hempel renamed its Chinese company Hempel China.

Hempel China received the Outstanding Performance Award 2009. The prestigious award was given to ten multinational companies that have worked in China for more than ten years, and have made significant contributions to the Chinese coatings industry.

During the year, Hempel was also named Supplier of the Year 2010 by Vestas Towers A/S.

In December 2009, Hempel acquired the remaining share-holding in Hempel Indonesia to reach 100 percent ownership. Lastly, it was announced in January 2010, in a deal with United Industries Company KSCC, Hempel increased its shares in Dahna Paint Middle East to 51.1 percent. At the same time, Hempel increased its shares in Hempel Qatar and Hempel Emirates from 21.2 percent to 29 percent.

During the year, Hempel introduced a new universal primer, Hempadur Quattro anticorrosive coating that is suitable for a wide range of surfaces and offers a year-round application window. It has been type-approved in accordance with IMO/PSPC rules for ballast tanks which call for 15-year protection.