Protective coatings supplier Hempel recorded sales of $1.5 billion in 2011, up from $1.2bn the year before. At the beginning of the year it opened a new manufacturing facility in Guangzhou, China that includes a new research and development center, which is the third largest R&D facility within the Hempel Group. With 56,000 square meters of space, Hempel’s newest and largest factory, located in Guangzhou, China, is expected to produce more than 42 million liters of coatings per year, with a maximum production capacity of 55 million liters. The Guangzhou factory was completed in 14 months at a cost of approximately €22.5 million. Hempel also signed during the year an investment agreement between itself and local government officials in the Russian Ulyanovsk region marking its first Russian paint production facility. With the signing of the investment agreement, the Hempel Group and the Ulyanovsk authorities have sealed their commitment to the €23 million turnkey project to be built close to the city of Ulyanovsk, 893 kilometers east of Moscow. Scheduled to start production in December 2012, the plant is meant to help meet growing demand for Hempel coatings in the Russian market. The Danish company also acquired the UK’s second largest coatings maker, Crown Paints. The decorative coatings manufacturer will help Hempel to grow its decorative coatings business. Hempel also expanded its operations in the Indian subcontinent with the opening of a new manufacturing unit in Nashik, Maharashtra. The company also plans to invest approximately €15-20 million in a greenfield project over a period of three years. Hempel has also expanded its R&D center in Spain to offer a more complete protective coatings system with advanced intumescent technology.
YEAR ESTABLISHED: 1915
REVENUE: $1.500 billion (2010: 1.2bn)
• Architectural coatings
• Marine and protective coatings
• Container coatings
• Yacht coatings
• Decorative coatings
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.