This year we have profiled 87 companies – up from last year’s 83. Comex (ranked 18) is back in the ranking after Sherwin-Williams efforts to buy it were thwarted by regulators in Mexico. Although S-W completed its acquisition of the U.S. and Canadian business of Comex in 2013, paying $90 million, regulators in Mexico refused to clear its buyout of Comex’s Mexico operations due to concerns about the combination limiting competition there. Reuters has reported that Comex is currently in the process of suing S-W over the failed buyout.
This year we also added three first-timers to the list: Columbia-based Pintuco (29), Brazil-based WEG (63) and Egypt-based MIDO (86).
In terms of the top 5, the ranking remained the same as 2012. AkzoNobel once again topped the list. As the world’s largest coatings manufacturer, the company reported revenue for coatings of $13.3 billion. The company has successfully completed its multi-year performance improvement program a year ahead of schedule, exceeding its targets in doing so. In 2014, AkzoNobel said it will continue to significantly restructure to reduce costs further and anticipates related restructuring charges of at least $342 million.
PPG (2) reported sales of its three coatings business segments – Performance Coatings, Industrial Coatings and Architectural Coatings EMEA – combined for $12.78 billion in revenue in 2013, up from $11.48 billion the year before.
2013 was a successful year for Henkel (3). Henkel’s adhesives sales were up 2.7 percent with sales of $11.174 billion for 2013. Sherwin-Williams (4) saw profits rise and acquired Comex’s U.S. and Canadian business, which added 306 company-operated stores its base of retail stores. Axalta (5) saw sales of $4.3 billion and moved its Corporate and North America headquarters to Pennsylvania and opened new regional headquarters for Asia Pacific in Shanghai.
I hope you find this report insightful and helpful in understanding the complex and diverse global coatings, adhesives and sealants markets. I welcome your feedback. Please feel free to email me suggestions on ways we can make the Top Companies Report even better in 2015.