Page 7 - CFCM Jan-Feb-2021_Neat

IN THE NEWS

PPG to Acquire Coatings
Manufacturer Wörwag
PPG has reached a definitive agreement to acquire Wörwag, a
global manufacturer of coatings for industrial and automotive ap-
plications. The transaction is expected to close in the first half of
2021, subject to customary closing conditions.
“Wörwag’s industry expertise in powder and liquid coatings
for industrial and automotive applications is highly complemen-
Hempel Sets New Strategy tary to PPG’s business, and will help to further expand our
Hempel Group A/S says it is embarking on an ambitious new product offering,” says Rebecca Liebert, PPG Executive Vice
strategy to double revenue as well as double its positive impact. President. “The addition of Wörwag will also enhance PPG’s
The company says 2020 was a year of transition. While still waterborne, direct-to-metal, liquid and powder coatings
securing paint and coatings supply globally in a challenging offerings, and allow us to further expand current customer distri-
COVID-19 year and developing core business areas, a new strategy bution in key geographies.”
on how to focus the 105-year-old company has taken shape. Within Wörwag, headquartered in Stuttgart, Germany, specializes in
the next five years, Hempel says it will double revenue through developing sustainable liquid, powder and film coatings. It oper-
refocused geographical priorities, focused segment leadership ates locations in Germany, the U.S., China, South Africa, Mexico,
positions and M&A, while at the same time accelerating on Spain, Switzerland and Poland.
sustainability, innovation and digitalization, according to Group www.ppg.com
President & CEO, Lars Petersson.
“When the world closed down in 2020 and global operations
including ours were challenged, we sped up our strategy process,”
he says. “Now we have laid the foundation for not only doubling our
revenue but also for significantly increasing our positive impact for ’S
our customers, partners and employees. We will build leadership
positions and invest in our core segments and put sustainability at
the heart of how we do business.”
The strategy will be realized through both acquisitions and
organic growth as well as investments in sustainability, innovation
and digitalization. Hempel expects 50 per cent of revenue growth to
come from M&A but the strategy also has a clear-cut emphasis on
building market leadership positions in specific areas of our four
chosen segments: Decorative, Marine, Infrastructure and Energy.
[NP]“By 2025, we expect more than 50 per cent of our revenue to
come from sub segments and geographies where we have a leading COATINGS INSPECTION
position, compared to less than 10 per cent today,” Hempel says.
The new strategy sets goals for sustainability such as being
carbon neutral in the company’s own operations by 2025 and also
reducing the carbon footprint of its customers. To ensure a rigor-
ous, scientific and well-documented approach to becoming a
sustainability leader within the coatings industry, Hempel says it
ADHESION TESTING
has committed to science-based targets. The sustainability frame-
work will be launched in February 2021.
“Putting sustainability at the heart of how we do business will
drive change both within Hempel and across our value chain
through our products and services,” Petersson adds. “We see sus-
tainability as a key enabler for growth, by helping our costumers
SURFACE VERIFICATION
reaching their sustainability targets. Our target to double in size in
the next five years makes our commitment to sustainability even
SHIPPING
ACROSS
CANADA!
more important, and we are ready to make some bold decisions as FREE SHIPPING ACROSS CANADA!
we accelerate.”
POWERED BY SCIENTIFIC INSTRUMENTS SINCE 1972
www.hempel.com Authorized Elcometer distributor in Canada
WWW.CFCM.CA CANADIAN FINISHING & COATINGS MANUFACTURING 7