Wed, Oct. 19, 6:08 AM
Tue, Jul. 19, 5:32 AM
Tue, Apr. 19, 8:49 AM
- Akzo Nobel N.V. (OTCQX:AKZOF): Q1 EPS of €0.97
- Revenue of €3.43B (-4.5% Y/Y)
Sun, Mar. 20, 5:36 PM
- While Sherwin-William's (NYSE:SHW) logo shows a can of red paint being poured over a globe, bearing the slogan, "Cover the earth," the U.S. and Canada account for about 82% of its sales. The Valspar (NYSE:VAL) acquisition will reduce its North American footprint to 76% by adding sales in Asia and Europe.
- "It gives us the scale and platform" to expand in Europe and Asia, Chief Executive John G. Morikis said.
- Valspar also has strength in two other areas Sherwin doesn't: coatings for food and beverage packaging and for steel coils.
- The pair would have had $15.6B in sales last year, slightly ahead of PPG's (NYSE:PPG) $15.3B. AkzoNobel had 2015 sales of about $16.7B.
- Dmitry Silversteyn of Longbow Research says the plan is very attractive for Valspar shareholders, and should be good for Sherwin in the long run. Valspar is lean, but the combined company should save on corporate overhead, distribution and raw materials. Valspar's No.1 position in coatings for packaging is a big attraction, as is the company's foothold in China.
- Source: WSJ
Wed, Feb. 17, 7:54 AM| Wed, Feb. 17, 7:54 AM | 3 Comments
Wed, Feb. 10, 9:57 AM
- Akzo Nobel N.V. (OTCQX:AKZOF): Q4 EPS of €0.72
- Revenue of €3.56B (+1.1% Y/Y)
Sep. 2, 2014, 3:52 AM
- Despite Akzo Nobel (OTCQX:AKZOY) CEO Ton Buechner's cost cutting agenda, the chief exec is being singled out for a deal to buy Axalta Coating Systems for more than $7B.
- Bloomberg reports that the company has not yet indicated if it will pursue the deal.
- Carlyle Group (NASDAQ:CG) purchased vehicle-coatings company Axalta from Dupont for $4.9B in February 2013 and filed for its IPO last month.
Dec. 14, 2012, 4:56 AM
PPG Industries (PPG) agrees to acquire the North American decorative paints business of Akzo Nobel (AKZOF.PK) for $1.1B. The deal will increase PPG's U.S. market share to an estimated 28% from 15% and boost its challenge to Sherwin-Williams, which holds 36%. PPG may also be buying the unit, which sells the Glidden paint brand and recently became profitable, on the cheap: the price represent 0.7X of sales vs 1X for similar deals in the sector. (PR)| Dec. 14, 2012, 4:56 AM