YEAR ESTABLISHED: 1806
REVENUE: $4.4 billion t (2014: $4.5 billion)
• Architectural coatings
• General industrial
• Coil coatings
• Wood coatings
• Automotive refinish
Gary Hendrickson, chairman and CEO; Jim Muehlbauer, EVP and CFO; Howard Heckes, EVP and president, Global Coatings;Les Ireland, EVP and president, Global Consumer Paints; Cynthia Arnold, SVP, chief technology officer; Howard Heckes, EVP and president, global coatings; Les Ireland, EVP and president, global consumer paints; Sam Shoemaker, SVP global packaging, packaging coatings; Joao Benites, SVP, global coil, coil coatings; Greg Wagner, SVP, global general industrial, general industrial coatings; and Brent Jewell, VP and GM global performance coatings, wood coatings.
2015 was another record year of earnings performance for Valspar.
“In 2015, Valspar delivered another year of what matters to our customers, shareholders, employees and the communities we serve,” Gary Hendrickson, CEO of Valspar. “At Valspar, we create value and achieve strong financial results by investing in differentiated technologies, producing high-quality products, building brands consumers trust, and providing outstanding customer service.”
In 2015,Valspar won new business in every Coatings product line. In Packaging, Valspar is the global leader and continues to drive the market in non-BPA coatings. During 2015, Valspar received excellence awards from several packaging customers for the best quality products and technical service.
In General Industrial, Valspar is also an innovator and leader. “An example is Aquaguard, a breakthrough water-based coating used by leading shipping container manufacturers. Aquaguard provides superior corrosion protection while reducing volatile organic compounds (VOCs) by up to 94 percent,” said Hendrickson. “In architectural coil and extrusion coatings, we have a long and proud history. In 2015, we celebrated 50 years of the Fluropon brand in architectural coil coatings. Fluropon is offered in over 20,000 colors and can be found on signature buildings around the world. We are a trusted partner and were rewarded by our customers with growth in all geographies in 2015. In Wood products, Valspar’s superior service model, innovative technical solutions and inspiring colors make us a valued partner with the world’s leading wood furniture, cabinet and building products brands.”
The Valspar portfolio of brands is available in more than 20,000 points of distribution worldwide. Together with its retail partners, Valspar isdriving sales and building a loyal following for Valspar brands through best-in-class retail service, new product innovation, and world-class marketing and merchandising support, the company reported.
“In North America, a leading consumer publication rated Valspar Reserve the No. 1 “zero VOC” paint in the U.S.; and in the same publication our brands represented four of the top eight ranked paints,” Hendrickson stated. “Strong consumer demand for our products, combined with world-class in-store execution, resulted in solid retail sell-through of Valspar products in North America.”
Internationally, Valspar continued to grow its business through extension of its brands and channels of distribution and new retail partnerships. In the UK, Valspar expanded its partnership with B&Q, both in the store and through increased training and support. In Australia and New Zealand, Valspar reported strong volume growth in its trade paint stores, at its independent retail partners and in the home improvement channel. Valspar’s growth in the China market was driven by new products, product line extensions and significantly increased points of retail distribution.
“Our strong tradition of community involvement plays a significant role in employee satisfaction, and we are proud to provide grants and volunteer opportunities focused on strengthening communities,” said Hendrickson. “As the national paint partner for Habitat for Humanity, Valspar donates paint for every Habitat home built or restored in the United States. To date, Valspar has provided two and a half million gallons of paint, and our employees have logged thousands of hours of volunteer time. In 2015, we signed a new five-year agreement placing Valspar on the path to becoming a $100 million cumulative donor to Habitat for Humanity by 2019.
• Valspar spray products: Milk Glass, Chalky Finish, Color Radiance, Project Perfect and Outdoor spray
• Cabot Gold exterior stain
• Lifeshield industrial flooring coating
• Valspar Aquaspar and Valspar Duraspar coating solutions for rail cars
• Fluropon Effects, a new line of dimensional colors in its architectural coatings product line
• Valspar chalky finish paint