Page 10 - HW March 2021

hard news
Changes to
Holidays Act
welcome
Late last month, employers welcomed the news that the Government had accepted all the Holidays Act Taskforce’s recommended changes.
Admitting that employers have found the Holidays Act 2003’s legislative requirements “hard to administer, which has meant costly fixes and employees missing out on their entitlements”,
the Government says key changes will include:
• Entitling eligible employees to
bereavement leave and family violence leave from their first day of employment.
• Giving eligible employees one day’s sick leave from their first day of employment, with an additional day given per month until the minimum entitlement is reached.
• Extending bereavement leave to include more family members, including cultural family groups and more modern family structures.
• Removing the current parental leave “override” so employees returning
to work following parental leave will be paid at their full rate for annual holidays.
• Requiring payslips, so employees know what their used and remaining leave entitlements are, and how these were calculated.
With a Holidays Act 2003 review
already well underway, back in 2019 both NZ Police and Bunnings NZ had incorrect holiday payments widely reported.
The legislation is expected to be introduced early next year.
www.employment.govt.nz
Wattyl to change hands
DANISH COATINGS MANUFACTURER
Hempel A/S last month signed a purchase agreement for the acquisition of Wattyl from The Sherwin-Williams Company.
Currently a fully owned subsidiary
of Valspar Corporation, through whose purchase in 2017 Wattyl became part
of the Sherwin-Williams organisation, Wattyl’s Australasian turnover is put at around NZ$250 million with the business spanning 750 employees in Australia and New Zealand across paint manufacturing and distribution.
For its part, Hempel has ambitious plans to double its revenue by 2025, and the Wattyl acquisition, says Hempel Group President & CEO, Lars Petersson, (photo above right) will have “a major, positive impact” on its business in the South & East Asia region.
The Wattyl business model is similar to Hempel-owned Crown Paints in
the UK, with a portfolio of branded products including Wattyl, Solagard and Forestwood and nearly 100 company- owned stores across Australia and New Zealand, and strategic distribution partnerships servicing DIY and trade.
Post-purchase, Wattyl will still be managed by current Managing Director, Matt Crossingham, who is looking forward to joining the Hempel Group and is committed to the ongoing success of the region.
“The entire team and I are pleased
to join the Hempel family, and we are looking forward to contributing to Hempel’s growth and development – not only in Australia and New Zealand – but throughout the South & East Asia region.
“We will gain access to increased know-how, experience and innovation as well as a broader product portfolio, which will benefit our customers. With Hempel’s ownership, I am certain that Wattyl will raise to the next level.”
From a branding perspective, Hempel states up front that it sees the worth
of the Wattyl brand, saying: “Hempel intends to invest in and further develop these attributes”, with the additional endorsement “A part of Hempel” in branding and communication.
It was rumoured last year that a sale was on the cards and Sherwin-Williams now says the divestment “aligns with our ongoing process to evaluate all aspects of our portfolio, including brands, product lines, customer programs and businesses, for their ability to meet our performance criteria and for their long-term strategic fit.
“While we’ve driven significant improvement in the Wattyl business, we believe [Sherwin-Williams] resources can be better deployed to other opportunities offering greater growth, more meaningful scale, and higher returns and cash flow.
“We thank the employees of Wattyl for their contributions to Sherwin-Williams.”
On the Wattyl website, Matt Crossingham says it’s “business as usual” and adds: “Wattyl will continue as our flagship brand in the ANZ region, locally made and supported by local stores and service.
“We’re still your local business partner, with local products, people, and stores across Australia and New Zealand,
and now with more global investment and backing than ever before. You can continue to rely on all your favourite Wattyl brands, made especially for tough Aussie and Kiwi conditions.”
www.wattyl.co.nz www.hempel.com
8 NZHJ | MARCH 2021
MORE AT www.hardwarejournal.co.nz