Guaramirim, SC - Brazil
www.weg.net
PRIVATE COMPANY; YEAR ESTABLISHED: 1983
REVENUE: $265 million
MARKETS SERVED:
Powder coatings; Marine coatings; Industrial coatings; Protective coatings; Automotive refinish coatings; Varnishes
KEY EXECUTIVE:
Décio da Silva, chairman of the board of directors; Alberto Kuba, CEO; Nildemar Secches, vice president.
Based in Guaramirim, Brazil, WEG is a multinational company with consolidated sales of $6 billion (R32.5 billion) in 2022. WEG Tintas Ltda., WEG’s subsidiary in the coatings industry, manufactures powder, automotive refinish, liquid, industrial and anticorrosive coatings. Its sales were approximately R1435 billion, or $265 million, in 2023. WEG Tintas Ltda. has paint production plants in Santa Catarina, Brazil; São Paulo; Buenos Aires, Argentina; and Atotonilco de Tula, Mexico.
In the Americas, WEG invested $20 million in March 2024 in a new industrial liquid paints factory in Mexico. The new factory is expected to start operation in early 2026.
“These investments should accelerate the internationalization process of WEG's industrial coatings business, ensuring strategic positioning to meet the growing demand for more efficient and sustainable solutions in Mexico and Central America,” said Rafael Torezan, managing director of WEG Coatings Business Unit, in announcing the investment.
In September 2023, WEG announced investments of R$ 70 million ($14 million) to expand production capacity of industrial liquid paints at its Santa Catarina site in Brazil by 2024.
"These investments are important for the growth of WEG's industrial paint business in the country, as they significantly expand our production and logistics capacity to meet the growing demand for more efficient and sustainable industrial paints," said Torezan.
In personnel news, Harry Schmelzer Jr. resigned as CEO of the company on March 31, 2024, ending an executive cycle of more than four decades, including 16 years leading WEG Group. Alberto Yoshikazu Kuba, an executive with a career of more than 21 years at the company and managing director of the Industrial Electric Motors division, was appointed CEO.
