PUBLIC COMPANY; YEAR ESTABLISHED: 1918
REVENUE: $740 million t (2016: $939 million)
Decorative coatings; Automotive coatings; Industrial coatings; Powder coatings
Graeme Liebelt, chairman; Patrick Houlihan, managing director and CEO; Stuart Boxer, executive director.
DuluxGroup consists of Paints Australia, Australia’s leading manufacturer of premium branded decorative paints, texture, protective and wood care coatings products; Paints New Zealand, New Zealand’s leading manufacturer of premium branded decorative paints, texture, protective and wood care coatings products; Selleys Yates, which is Australia and New Zealand’s leading manufacturer of home improvement and garden care products; and Offshore and Other segments which comprises Australia and New Zealand’s leading manufacturer of powder and industrial coatings. DuluxGroup employs approximately 4,000 people in Australia, New Zealand, Papua New Guinea, South East Asia and China and has a comprehensive, world-class, scalable manufacturing base and supply chain across 21 main manufacturing sites, 21 distribution centers and more than 120 company owned trade outlets
Sale of China and Hong Kong Coatings Business
DGL Camel International (DuluxGroup’s 51 percent owned joint venture company) has entered into an agreement to sell most of its coatings portfolio in Hong Kong and Mainland China to Yip’s Chemical Holdings Limited. The sale follows a strategic review of the DGL Camel coatings portfolio.
The transaction is expected to complete late in the first half of the 2018 financial year. Taking account of trading results up to the sale, the sale transaction (including subsequent restructuring and other costs) and trading of the remainder of the business after the sale, the EBIT outcome for Hong Kong and China for FY18 is expected to be broadly in line with FY17.
The Selleys business in Hong Kong and China and a small part of the coatings portfolio will be retained. The structure and cost base of the ongoing business is being finalised, with an expectation of breakeven operating performance.