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Top Companies Report.

Once again, Coatings World brings the industry The Top Companies Report--the only truly global ranking of the top manufacturers of paints, coatings, adhesives, and sealants. Our editorial staff has spent long hours researching the industry to provide you with the most accurate ranking of paint and coatings manufacturers operating in the global industry. Rankings are based on annual sales in U.S. dollars. For companies based outside the U.S., sales are translated into U.S. dollars using exchange rates from the company's fiscal closing date. For privately held companies who choose not to disclose sales figures, our staff interviews different industry sources coupled with our own research to come up with an accurate estimate of annual sales. All told, we profiled 85 companies in this report. All have sales of $100 million or more annually. Companies marked with an asterisk in the ranking on the following page represent a Coatings World estimate. Bold companies are those making their first appearance as a Top Company.

Our Top Companies Report is intended to provide our readers with a snapshot of the industry's most influential players. We hope you will come away with a clearer insight into the future of this truly global and always evolving industry. Also be sure to check out the report at CoatingsWorld.com for more in depth profiles of the Top Companies. If you are a paint, coatings, adhesives or sealants manufacturer with sales of $100 million for fiscal 2011 and would like to be included in our Top Companies Report, let me know and I will add your company to the online version. I look forward to hearing from you.

-Tim Wright Editor

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2012 Top Companies

1. AkzoNobel (The Netherlands)             $14,577 billion

2. PPG (USA)                               $10,888 billion

3. Henkel (Germany)                        $10,788 billion

4. Sherwin-Williams (USA)                   $7,326 billion

5. DuPont (USA)                             $4,281 billion

6. BASF (Germany)                           $3,956 billion

7. Valspar (USA)                            $3,704 billion

8. RPM (USA)                                $3,381 billion

9. Kansai (Japan)                           $3,250 billion

10. Sika (Switzerland)                      $2,837 billion

11. Nippon (Japan)                          $2,815 billion

12. Jotun (Norway)                          $1,902 billion

13. Asian Paints (India)                    $1,830 billion

14. Comex (Mexico)                          $1,600 billion

15. HB Fuller (USA)                         $1,557 billion

16. Hempel (Denmark)                        $1,500 billion

17. Masco (USA)                             $1,493 billion

18. DAW (Germany)                         $1,400 billion *

19. Beckers (Sweden)                      $1,200 billion *

20. Chugoku Marine Paints (Japan)           $1,185 billion

21. Materis (France)                        $1,135 billion

22. SK Kaken (Japan)                      $992,428 million

23. KCC (South Korea)                     $899,545 million

24. Tikkurila (Finland)                   $896,570 million

25. Dai Nippon Toryo (Japan)              $889,826 million

26. Lord Corp. (USA)                    $825,000 million *

27. Shawcor (Canada)                      $800,000 million

28. DuluxGroup (Australia)                $767,589 million

29. Forbo (Switzerland)                   $662,253 million

30. Benjamin Moore (USA)                 $550,000 million*

31. Berger Paints (India)                 $525,900 million

32. National Paints (Jordan)              $493,269 million

33. Helios (Slovenia)                     $470,119 million

34. Nihon Tokushu (Japan)               $408,455 million *

35. Betek (Turkey)                        $402,000 million

36. Ennis Traffic Solutions (USA)       $400,000 million *

37. Samwha (South Korea)                  $379,000 million

38. 3M (USA)                            $375,000 million *

39. Musashi (Japan)                       $354,000 million

40. Noroo (South Korea)                   $352,000 million

41. Teknos Group Oy (Finland)             $344,031 million

42. Fujikura Kasei (Japan)              $326,000 million *

43. Carpoly Chemical Group (China)        $325,000 million

44. Kunsul (South Korea)                  $308,878 million

45. TOA Group (Thailand)                $300,000 million *

46. CIN Group (Portugal)                  $293,079 million

47. Shanghai Coatings (China)           $290,000 million *

48. Dunn-Edwards (USA)                    $285,000 million

49. Flugger Group (Denmark)               $284,932 million

50. Shinto (Japan)                        $278,879 million

51. JW Ostendorf (Germany)              $265,000 million *

52. Yung Chi (Taiwan)                     $260,400 million

53. Tiger Coatings (Austria)              $260,000 million

54. Rock Paint (Japan)                  $255,000 million *

55. Kelly-Moore (USA)                   $250,000 million *

56. Kikusui Chemical (Japan)              $234,534 million

57. Pacific Paint Boysen (Philippines)    $230,000 million

58. Renner Sayerlack (Brazil)           $225,000 million *

59. Spraylat (USA)                      $220,000 million *

60. Inver Spa (Italy)                     $217,000 million

61. Tambour (Israel)                      $215,000 million

62. FLH Group (Switzerland)               $213,542 million

63. Grebe Group (Germany)               $200,000 million *

64. Asahipen (Japan)                      $192,000 million

65. Taiho Paint (China)                   $189,046 million

66. Tohpe (Japan)                         $189,000 million

67. Industrias Titan (Spain)            $185,000 million *

68. Whitford Corp. (USA)                  $175,000 million

69. ICA Group (Italy)                   $170,000 million *

70. NOF Metal Coatings (France)           $167,140 million

71. Boero Group (Italy)                   $166,834 million

72. Natoco (Japan)                        $165,330 million

73. Yasar (Turkey)                      $165,000 million *

74. Chokwang (South Korea)                $151,757 million

75. Diamond Vogel (USA)                 $150,000 million *

76. Russian Coatings (Russia)             $146,000 million

77. Kapci Coatings (Egypt)                $143,000 million

78. Quest Specialty Chemicals (USA)       $141,000 million

79. Cloverdale Paint (Canada)           $135,000 million *

80. Atomix (Japan)                        $133,237 million

81. Origin Electric (Japan)             $130,000 million *

82. Empils (Russia)                       $127,808 million

83.Tnemec (USA)                         $125,000 million *

84. PACHIN (Egypt)                        $119,300 million

85. Ace Paint (USA)                     $115,000 million *


First Timers

* 35 Betek (Turkey): $402,000 million

* 65 Taiho Paint (China): $189,046 million

* 77 Kapci Coatings (Egypt): $143,000

* 84 PACHIN (Egypt): $119,300

Take-out Companies

* Dyrup (Denmark): Acquired by PPG

* Freeworld (South Africa): Acquired by Kansai

* SSCP (South Korea): Acquired by AkzoNobel

* Yips Chem. (China): Insufficient sales

2012 Top 20

01 AkzoNobel * 02 PPG * 03 Henkel * 04 Sherwin-Williams * 05 DuPont 06 BASF * 07 Valspar * 08 RPM * 09 Kansai Paint * 10 Sika 11 Nippon Paint * 12 Jotun * 13 Asian Paints * 14 Comex * 15 H.B. Fuller 16 Hempel * 17 Masco * '18 DAW * 19 Beckers * 20 Chugoku Marine Paints

ALPHABETICAL LISTING

3M - 38

ACE PAINT - 85

AKZONOBEL - 01

ASAHIPEN - 64

ASIAN PAINTS - 13

ATOMIX - 80

BASF - 06

BECKERS - 19

BENJAMIN MOORE - 30

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BERGER PAINTS - 31

BETEK - 35

BOERO GROUP - 71

CARPOLY - 43

CHOKWANG - 74

CHUGOKU MARINE PAINT - 20

CIN - 46

CLOVERDALE PAINTS - 79

COMEX - 14

DAI NIPPON TORYO - 25

DAW -18

DIAMOND VOGEL PAINTS - 75

DULUX GROUP - 28

DUNN-EDWARDS - 48

DUPONT - 05

EMPILS - 82

ENNIS TRAFFIC - 36

FLH GROUP - 62

FLUGGER - 49

FORBO - 29

FUJIKURA KASEI - 42

GREBE GROUP - 63

H.B. FULLER - 15

HELIOS - 33

HEMPEL - 16

HENKEL - 03

ICA GROUP - 69

INDUSTRIAS TITAN - 67

INVER SPA - 60

JOTUN - 12

JW OSTENDORF - 51

KANSAI PAINT - 09

KAPCI COATINGS - 77

KCC - 23

KELLY-MOORE - 55

KIKUSUI CHEMICAL - 56

KUNSUL - 44

LORD CORP. - 26

MASCO - 17

MATERIS - 21

MUSASHI - 39

NATIONAL PAINTS - 32

NATOCO - 72

NIHON TOKUSHU - 34

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NIPPON PAINT - 11

NOF METAL COATINGS - 70

NOROO - 40

ORIGIN ELECTRIC - 81

PACHIN - 84

PACIFIC PAINT - 57

PPG - 02

QUEST SPECIALTY CHEM - 78

RENNER SAYERLACK - 58

ROCK PAINT - 54

RPM - 08

RUSSIAN COATINGS - 76

SAMWHA - 37

SHANGHAI COATINGS - 47

SHAWCOR - 27

SHERWIN-WILLIAMS - 04

SHINTO PAINT - 50

SIKA - 10

SK KAKEN - 22

SPRAYLAT - 59

TAIHO PAINT - 65

TAMBOUR - 61

TEKNOS GROUP - 41

TIGER COATINGS - 53

TIKKURILA - 24

TNEMEC - 83

TOA GROUP - 45

TOHPE - 66

VALSPAR - 07

WHITFORD - 68

YASAR - 73

YUNG CHI - 52

01 AkzoNobel N.V.

Amsterdam, the Netherlands

www.akzonobel.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1994

RIVENUE: S14.577 billion * (2010: 13bn)

MARKETS SERVED

* Decorative paints

* Auto and aerospace coatings

* Powder coatings

* Marine and protective coatings

* Industrial coatings

* Wood finishes and adhesives

KEY EXECUTIVES

Ton Buchner, chairman and CEO; Tex Gunning, board member responsible for Decorative Paints; Leif Darner board member responsible for Performance Coatings. Decorative Paints managing directors: Richard Stuckes, Europe; Bob Taylor, North America; Jaap Kuiper, Latin America; Jeremy Rowe, East Asia and Pacific; Amit Jain, India and South Asia; Lin Liangqi, China and North Asia.

Performance coatings managing directors: Rob Molenaar, marine and protective coatings; Jim Rees, automotive and aerospace coatings; Conrad Keijzer, industrial coatings: AB Ghosh, powder coatings; John Wolff, wood finishes and adhesives.

Excluding specialty chemicals operations, AkzoNohel, the world's largest maker of household paints, saw revenues. rise seven. percent to $14.577bn in 2011.

The decorative paints business unit recorded revenues of S7.376bn, which was up seven percent, with volumes up five percent and price increases up three percent. Revenue in Asia and the Americas showed double digit growth in 2011, mainly driven by price increases and the new Walmart contract in the United States. Demand declined in Europe, while growth rates achieved in China and South East Asia outpaced market growth. However, the pace of market growth slowed down in these markets in the second half of the year.

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Revenue in the performance coatings unit, which includes auto and aerospace coatings, powder coatings, marine and protective coatings, industrial coatings, and wood finishes and adhesives, saw 2011 revenue rise eight percent to $7.200bn, supported by two percent volume growth, two percent growth through acquisitions and five percent rise in prices increases. Industrial coatings showed the largest volume increase, driven by good performances in packaging and coil coatings, while wood finishes and adhesives had lower volumes due to weaker demand in the housing market.

In 2011 AkzoNobel made several acquisitions and significant investments. In decorative paints it entered into a partnership in China with Quangxi CAVA Titanium Industry Co. Ltd. to help ensure supply of titanium dioxide (Ti02). In addition, it announced the investment of $153mn in a replacement manufacturing facility in the North East of England.

In performance coatings, the acquisitions of coatings manufacturer Schramm Holding AG and the coatings business operated by Schramm's largest shareholder, Korean company SSCP, closed in early October.

The two deals made AkzoNobel a global leader in specialty plastic coatings for mobile devices, laptops and TVs. They also enhanced its position in the automotive industry with high-end, water-based technology for plastic and metal and will enable it to bring color and design to vehicle interiors. Significantly, more than half the combined revenues of Schramm and SSCP are in Asia--primarily China, Korea, Vietnam and 'Thailand--offering Akzo a major opportunity to boost its industrial coatings activities, particularly in these regions.

Key deveopments 2011

Performance Coatings

* Began supplying the first mainstream passenger vehicle line in the world to use a powder monocoat

* Inaugurated new research laboratories for fire protection technology and powder resin polymer in Felling, UK

* Acquired Schramm Holding AG and the coatings activities operated by Schramm's largest shareholder, Korean company SSCP

* Announced investment in new automotive and aerospace coatings facility in Changzhou, China

* Started up a new plant in Vietnam operated by the wood finishes and adhesives business

* Opened a new powder coatings factory in Monterrey, Mexico, and expanded a powder plant in Izmir, Turkey

Decorative Coatings

* Launched the new global Dulux brand cluster identity

* Merged three European decorative paints businesses into one EMEA organization

* Completion of Walmart paint program in the US

* Opened and upgraded more than 720 stores in China

* State-of-the-art manufacturing facility commissioned in

Hyderabad, India

* Zero waste production plant launched in South East Asia

* Coral confirmed as Brazil's leading paint brand

* Consolidated long-standing relationship in Canada with major retailer RONA

02 PPG Industries

Pittsburgh, Pennsylvania/USA

www.ppg.com

PUBLIC COMPANY

YEAR ESTABLISHED. 1883

REVENUE: $10.888 billion * (2010: 9.8631bn)

SEGMENT BREAKDOWN

* Aerospace coatings

* Automotive refinish

* Automotive OEM coatings

* Packaging coatings

* Architecural coatings

* Protective and marine coatings

* Industrial coatings

KEY EXECUTIVES

Charles Bunch, chairman and CEO: J. Rich Alexander, executive vice president, global architectural coatings and Asia Pacific region; Pierre-Marie De Leener, executive vice president, aerospace, protective and marine coatings, and automotive refinish, and Latin America region; Michael Horton, president, PPG Asia Pacific, and vice president, automotive refinish and architectural coaitngs, Asia Pacific; Viktoras Sekmakas, senior vice president, industrial coatings and president, PPG Europe.

Sales of PPG Industries' three reportable coatings business seg-ments--Performance Coatings, Industrial Coatings and Architectural Coatings EM EA--combined for $10.888bn in revenue in 2011, up from $9.863bn the year before.

Performance Coatings, which includes aerospace, architectural coatings Americas and Asia Pacific, automotive refinish, and protective and marine coatings operations, reported a sales increase of $34.5 million, or eight percent, to S4.626bn in 20 1 1.

Industrial Coatings, which includes automotive OEM coatings, industrial coatings and packaging coatings operations, saw sales increase S450 million, or 12 percent compared to 2010, to VIA 58bn.

Architectural Goatings-EMEA (Europe, Middle East and Africa) sales increased $2.30 million, or 12 percent, to $2.104bn in 2011.

During the year PPG made several acquisitions that expand its global footprint. First PPG purchased European coatings company Dyrup VS based in Copenhagen, Denmark, from its owner, Mon-berg & Thorsen, a public holding company, for $44 million. Dyrup, a producer of architectural coatings and woodcare products, operates six manufacturing facilities throughout Europe, and its products are sold primarily in Denmark, France, Germany, Portugal, Poland and Spain through professional and do-it-yourself channels.

PPG also purchased the coatings businesses of Colpisa Columbiana de Pinturas and its affiliate, Colpisa Equador, for 5.38 million. Colpisa, based in Itagui, near Medellin, was founded in 1973 and manufactures and distributes coatings for automotive OEM and refinish, industrial and architectural coatings customers in Colombia and Ecuador.

PPG then acquired the business of Ducol Coatings South Africa (PTY) Ltd., which has served as an importer and distributor of PPG's automotive refinish products in South Africa since 2003. Ducol Coatings, based in Krugersdorp, northwest of Johannesburg, was formed in 1990 and has been active throughout South Africa and in Namibia.

During the year PPG also created PPG Management (Shanghai) Co., Ltd. The new company, located in Shanghai, will act as business headquarters for PPG in China.

China continues to experience rapid growth, and PPG's new country headquarters in Shanghai will help facilitate its business growth through the consolidation of China business and functional leaders together in the new location.

PPG first invested in China in the 1980s and today operates 14 manufacturing plants and two research and development centers throughout China.

In another high growth market, PPG and India's largest coatings company, Asian Paints, expanded a current 50-50 joint venture and created a second to accelerate growth of the companies' non-decorative coatings businesses in India.

San Jose Intl Airport first showcase for Duranar powder coatings

The new Terminal B concourse at the Norman Y. Mineta San Jose International Airport in California is the first monumental architectural project constructed with Duranar powder coatings by PPG Industries industrial coatings business Duranar powder coatings are formulated by PPG to provide the same longterm durability as Duranar liquid coatings, but in an environmentally advanced, ultra-low-VOC powder. They are based on the same polyvinylidene fluoride (PVDF) technology as liquid Duranar coatings. Duranar Regal White powder coatings were applied to a series of curved, perforated metal panels that arc over the main Terminal B structure. The coating was specified by Fentress Architects, Denver, CO. Overly Manufacturing, Greensburg, PA, was the metal panel manufacturer and Spectrum Metal Finishing, Youngstown, OH, was the PPG Certified Applicator. Terminal B covers more than 160,000 square feet and is designed to accommodate up to 8.5 million passengers a year. The project earned LEED Silver certification from the U.S. Green Building Council (USGBC) in September 2010.

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03 Henkel AG & Co. KGaA

Dusseldorf, Germany

www.henkel.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1876

REVENUE: S 10.788 billion * (2010: 9.7bn)

MARKETS SERVED

* Adhesives

* Sealants

* Special purpose coatings

KEY EXECUTIVES

Kasper Rorsted, chairman and CEO; Jan-Dirk Auris, executive VP Adhesive Technologies and member of the board. Senior VPs of Adhesive Technologies: Ramon Bacardit, Research; Julian Colquitt, North America, General Industry; Jean Fayolle, Packaging Industry; Eric Holzbacher, Africa/Middle East, Consumer and Building Industry; Paul Kirsch, Transportation and Metal Industry; Michael Olosky, Asia Pacific; Matthias Schmidt, Financial Director; Alan Syzdek, Electronics Industry.

Henkel's Adhesives Technologies business sector comprises five business units: Adhesives for Consumers, Craftsmen and Building; Transport and Metal; General Industry; Packaging, Consumer Goods and Construction Adhesives; and Electronics.

Adhesives Technologies performed well in 2011, achieving sales of $10.788bn. The sector serves a wide range of customers from large, international corporations to small and medium-sized industrial businesses, craftsmen, DIYers and private home consumers.

In the transport and metal business Henkel formed a joint venture with BASF Coatings GmbH for the development of innovative corrosion protection solutions for the automotive industry, which went operational in 2011.

During the year Henkel also started construction for its 150,000 square-meter adhesives factory in Shanghai Chemical Industry Park. The new facility will be the main adhesives manufacturing base in China and the Asia-Pacific region. Upon completion, the new Henkel factory will be the largest adhesives factory in the world with an estirnated annual production of 428,000 tons the company said.

The construction of the new adhesives factory is part of the company's overall strategy to expand its capacities in the growth regions. Currently, Henkel realizes 42 percent of its total sales within the emerging markets, and 53 percent of its employees are now working in those markets. The new state-of-the-art adhesives facility, which is scheduled to begin production at the end of 2012, will enable Henkel to cope with the rapidly growing demand in China and the Asia-Pacific region for its adhesives. The new factory will require a total fixed asset investment of 50 million euros. Henkel also plans to hire 600 employees to operate the new facility.

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"This investment is in line with our priority to expand our business in the emerging markets," said Kasper Rorsted, Henkel's CEO, during the groundbreaking ceremony, "China has been an important growth engine for Henkel, and we are confident that the plant will greatly enhance Henkel's growth potential in the country"

The new adhesives factory is also a result of the company's efforts to further optimize its overall manufacturing activities by concentrating on high-performance factories that will generate more significant cost, productivity and efficiency advantages. As part of this initiative, Henkel's new adhesives production facility in China will significantly expand capacities for existing and new technologies. These efforts have also been aligned to make operations more environmentally compatible as the new adhesives factory will set a high industry standard for its high operational efficiency, low energy and water consumption as well as low carbon emissions.

Innovations 2011

Pattex 100%

Pattex 100% is based on Henkel's patented "Flextec Technology" and is 100 percent solvent-free. The product offers high adhesive strength with easy usability and is universally suitable for projects both in and around the house.

Aquence Co-Cure 900 Series

This award-winning, patented solution from Aquence combines several surface-coating operations performed in paint shops, leading to savings in energy costs and reducing production complexity for customers.

Loctite

Loctite offers the first range of label-free anaerobic products covering all applications from fastener locking to thread and surface sealing.

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04 The Sherwin-Williams Company

Cleveland, Ohio/USA

www.sherwin-williams.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1866

REVENUE: $7.326 billion * (2010: 6.5bn)

(Note: Sherwin-Wiliiams reported total revenue of $8.7 billion for fiscal 2011. However, for purposes of this report, sales of painting tools and equipment in the Paint Stores Group are not reported as part of coatings revenue. The above is Coatings World's estimate.)

MARKETS SERVED

* Architectural coatings

* Industrial coatings

* Protective and marine coatings

* OEM product finishes

* Wood finishes

* Aerospace coatings

KEY EXECUTIVES

Christopher Connor, chairman and CEO; John Morikis, president and COO; Sean Hennessy. senior VP, finance and CFO.

The Sherwin-Williams Company reported a 12.7 percent increase in 2011 sales to $8.77bn, an increase of $989.3 million from 2010. Minus the sale of painting tools and equipment in the company's Paint Store Group, Coatings World estimates the company's paint and coatings sales to be approximately S7.3bn.

The company expanded its reports on operating segments from three to four with the addition of the Latin America Coatings Group, previously included in the Global Finishes Group.

Sales for the Paint Stores Group increased 9.1 percent to $4.78 billion for the year. Consumer Group sales declined 1.8 percent, to S1.2-billion for the year. Global Finishes Group sales increased 32.5 percent to $1.88 billion in the year. Latin America Coatings Group net sales increased 22.7 percent to $828.5 million in the year.

The company is continuing to invest in its business by expanding its Paint Stores operations, with a net increase of 60 new stores in 2011, to a total of 3,450 stores.

During the year a four-year partnership between America's soybean farmers and Sherwin-Willimas received one of five 2011 Presidential Green Chemistry Challenge Awards presented by the Environmental Protection Agency (EPA). EPA also recognized the United Soybean Board (USB) for its role in the development Of the product.

The honor recognizes the development of an innovative new paint formulation that utilizes soybean oil and recycled plastic bottles (PET) and reduces volatile organic compounds (VOCs) by 60 percent.

Sherwin-Williams, with soybean checkoff funding and technical support from LISP.), developed water-based acrylic alkyd paints with low VOCs that can he made from soybean oil, PET and acrylics. These new paints combine the performance benefits of alkyds and low VOC. content of acrylics, the company said. The soybean oil helps to promote him formation, gloss, flexibility and cure.

In 2010, Sherwin-Williams manufactured enough of these new paints to eliminate over 800,000 pounds of VOCs. The company has used 320,000 pounds of soybean oil, 250,000 pounds of PEE and eliminated 1,000 barrels of oil.

Sherwin-Williams received the award in the Designing Greener Chemicals category. The paints are sold as ProClassic Waterbased Acrylic Alkyd, ProMar 200 Waterbased Acrylic Alkyd and ProIndustrial Waterborne Enamel.

On the acquisition front in 2011, Sherwin-Williams acquired Leighs Paints, an industrial fire protection coatings company that manufactures a comprehensive line of intumescent Passive Fire Protection products for the hydrocarbon market. It joined the protective and marine coatings business of Sherwin-Williams' Global Finishes Group. The Firetex brand has been used on more than 400 projects around the world protecting offshore platforms, refineries and chemical plants.

In Latin America, Sherwin-Williams acquired Fanapisa, its former licensee in Guayaquil, Ecuador, which gives it control over the manufacture, sale, marketing and distribution Of the Sherwin-Williams brand in Ecuador. This, combined with the acquisition of Pinturas Condor in 2010, establishes Sherwin-Williams as the architectural paint market leader in Ecuador.

Sherwin-Williams, HGTV form partnership

Sherwin-Williams partnered with HGTV to launched HGTV Home, an exclusive line of durable, low-odor interior paints and painting supplies. HGTV Home by Sherwin-Williams features eight designer inspired color collections. Each collection highlights 20 coordinated colors and design tips for homeowners to create harmonious room-to-room color transitions. The interior latex paint, manufactured by Sherwin-Williams, is available in flat, satin and semi-gloss finishes. It carries the GreenSure seal that marks the company's Sherwin-Williams' new high-quality, environmentally friendly HGTV Home line was coatings. The color collections, show-launched during the year. cased at more than 2,800 neighborhood

Sherwin-Williams stores, are: Color Pizazz, Traditional Twist, Urban Organic, Global Spice, Livable Luxe, Rustic Refined, Neutral Nuance and Coastal Cool.

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05 DuPont

Wilmington, Delaware/USA

www.performancecoatings.dupont.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1802

REVENUE: S4.281 billion (2610: 3.8bn)

MARKETS SERVED

* Automotive OEM

* Collision repair

* Industrial coatings

KEY EXECUTIVES

Ellen Kullman, DuPont chair or the board and CEO; DuPont Performance Coatings executives: John McCool, president; K. Peter Hurd, VP, supply chain: Lewis Manring, VP, global technology; Thierry Vanlancker, VP, EMEA; Jorge Cossio, VP, Latin America; Nigel Budden, business director, North America; Eric Degenfelder, business director, Asia Pacific.

DuPont Performance Coatings (DPC) is the world's leading motor vehicle coatings supplier. Products offered include high performance liquid and powder coatings for motor vehicle OEMs, the motor vehicle after-market and general industrial applications, such as coatings for heavy equipment, pipes and appliances and electrical insulation.

Nearly half of DPC's $4.28 I bn of revenue in 2011 came from the auto refinish segment while auto OEM turned in roughly 30 percent of sales. The remaining sales were split between liquid and powder coatings segments serving general industrial applications. Sales were up from $3.8bn when compared to prior year.

After-market coatings products are marketed using the DuPont Standox, Spies Hecker, Cromax Pro and Nason brand names. Standox, Spies Hecker and Cromax Pro are focused on the high-end motor vehicle after-markets, while Nason is primarily focused on economy coating applications. The segment has several large customers, primarily in the motor vehicle OEM industry supply chain.

Performance Coatings segment sales outside the U.S. accounted for '5 percent of the segment's total sales in 2011.

The segment experienced continued recovery with auto builds across the globe increasing three percent in 2011, primarily driven by an improvement of nine percent in North America. Volume growth primarily reflects increased demand for OEM motor vehicle coatings and industrial coatings, particularly in the North American hoavy-duty truck market.

During the year Nissan North America, Inc. (NINA) launched its nationwide Nissan Certified Collision Repair Network, a new certification program open to both dealer-owned and independ-em collision shops. Nissan teamed up with DuPont Performance Coatings to assist in the implementation of the program's certification process and I-CAR, the Inter-Industry Conference on Auto Collision Repair, to conduct technician training. Once a facility has successfully completed the application process, the shop manager will he contacted to set up a meeting to review the enrollment and inspect the facility. A DPC representative will conduct a comprehensive inspection of the facility to ensure that all standards will be met. For participating collision shops, the Nis-san Certified Collision Repair Network delivers the opportunity for the repair facility to attract new customers and to generate additional business from their existing base.

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DuPont launches innovation center in India

DuPont announced the official opening of the India Innovation Center in Pune in 2011. DuPont India Innovation Center is a forward-looking initiative by the global science-based company to expand its strategic footprint to fuel local collaboration in support of India's fast growing automotive industry.

DuPont India Innovation Center's primary focus is on the automotive segment; and it acts as a collaborative platform for automotive OEMs and component and system manufacturers to come together to support the Indian automotive industry. The center's goal is to partner for science-powered solutions that fuel innovation and application development together with customers and partners.

The new center will work to develop products and solutions in areas of sustainability, lightweight, improved performance, alternative drive, safety, and comfort and design.

The DuPont India Innovation Center is one among four new global DuPont Innovation Centers in Asia Pacific. The other three centers in Asia Pacific are located in South Korea, Taiwan and Thailand. Taiwan focuses on the electronics and communications markets, and Thailand's center will be working on programs around renewable energy initiatives and products. Other centers in Latin America, Europe and North America are in the planning pipeline.

06 BASF Coatings

Ludwicshafen, Germany

www.basf.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1865

REVENUE: S3.956 billion (2010: 3.4bn)

MARKETS SERVED

* Automotive OEM

* Automotive refinish

* Commercial vehicles

* Industrial coatings

* Decorative paints

KEY EXECUTIVES

Raimar Jahn, president, BASF Group's Coatings Division; Helmut Radder, member of the board of BASF Coatings AG; Udo Reiter, head of global technology, coatings; Dr. Klaus Plitzko, head of global applied research and technology, coatings; Juan Ximenez-Carrillo Gerber, automotive OEM coatings; Christoph Hansen, automotive refinish coatings; Peter Alexander Fischer, industrial coatings; Rui Artur Goerck, decorative paints.

BASF's coatings division is one of the world's largest suppliers of coatings solutions for automotive and industrial applicadons. With its brands Glasurit and R-M for the car refinish business, the company is successful in the premium segment world-wide. In Brazil, BASF is the leading manufacturer of architectural coatings under its flagship brand Suvinil. In China, the new architectural coatings brand Norbin was introduced.

In 2011 BASF Coatings saw its sales rise above 2010 levels due to higher volume and prices to $3.956 billion. Broken down regionally, 42 percent of BASF Coatings' sales came from Europe while 28 percent came from South America, Africa and the Middle East, with the largest chunk from South America. Asia Pacific and North America are smaller markets for BASF Coatings with 17 percent and 13 respectively. Asia Pacific is growing the fastest of all regions.

BASF said demand for its products grew in all business areas. The favorable market environment in the global automotive industry, higher demand in South America and its strong business with coatings solutions in Russia made a significant contribution to sales growth.

Its business with automotive coatings was very successful due to growing demand from its customers in Europe and Asia, especially in China. Sales in the automotive refinish coatings business also grew due to new customers and price increases.

BASF achieved a significant increase in sales volumes of coatings for transportation and agricultural machinery. In Europe, the company benefited from strong demand for coil coatings from the Russian steel industry. Due to new customers in emerging markets, sales volumes of coatings for wind turbines also grew.

In the decorative paints business area, sales were higher than in the previous year, particularly in South America. In this region, BASF said it not only experienced greater consumer demand, it was also able to gain additional market share with product innovations and targeted advertising measures.

BASF Coatings said during the year it plans to sell in the near-term the decorative paints business of Relius Coatings GmbH & Co. KG along with the respective subsidiaries in France and the Netherlands. The business encompasses decorative paints and plaster as well as coatings and glazing for construction applications. Regionally, it is focused on Germany and selected countries in Europe. In 2010, the business had total sales of approximately [euro]80 million. The sites in Memmingen, Germany, and Deurne, Netherlands, are part of the divestiture in addition to distribution offices of Relius for decorative paints.

BASF's business with decorative paints in South America and China is not affected by the planned divestiture and will be further expanded. The business with industrial coatings of Relius Coatings that is managed out of the Oldenburg site will remain a part of BASF Coatings.

The decorative paint business of Relius focuses on direct sales to painters and specialist dealers. In Germany and France, Relius has about 30 distribution offices. The businesses with protective and marine coatings, general industry coatings as well as coatings for rotor blades for wind energy facilities are not part of the planned divestiture.

[ILLUSTRATION OMITTED]

Daimler introduces BASF's iGloss Clearcoat for its OEM coatings

During the year Daimler became the first automaker to introduce BASF's new iGloss clearcoat for OEM coatings. At its plant in Bremen, the Mercedes-Benz E-Class Coupe, SLK and SL models are coated with the scratch-resistant paint. The clearcoat is the top layer of the automotive finish and provides gloss for the body, as well as protection from stresses such as sunlight or chemicals. The iGloss technology offers all these features and additionally provides high scratch resistance. iGloss combines the advantages of inorganic "hard" materials with those of organic "soft" materials. The hybrid material delivers improved scratch resistance without increasing brittleness.

07 The Valspar Corporation

Minneapolis, Minnesota/USA

www.valsparglobal.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1806

REVENUE: $3,704 billion * (2010: $3.0bn )

MARKETS SERVED

* Architectural coatings

* General industrial

* Coil coatings

* Wood coatings

* Automotive refinish

KEY EXECUTIVES

Gary Hendrickson, president and CEO; Rolf Engh, executive VP, general counsel and secretary; Steven Erdahl, executive VP; Anthony Blaine, senior VP; Howard Heckes, senior VP; Lori Walker, senior VP and CFO; Brian Falline, goup VP; Bernard Ouimette, senior VP; Roeland Polet, senior VP.

Valspar's sales for the year increased 22.5 percent to $3.704bn. In the Coatings segment, sales increased 15 percent while sales in the Paints segment increased 37 percent. Through its Paints segment Valspar offers a wide variety of products such as paints, primers, topcoats and aerosol spray paints sold primarily through retailers and distribution networks. It sells branded and other products in the Paints segment, including Valspar, Cabot, Huarun, DeBeer and House of Kolor. This segment includes architectural and automotive refinish product lines.

The Coatings segment includes a broad range of decorative and protective coatings for metal, wood and plastic, primarily for sale to original equipment manufacturing (OEM) customers. Products within the Coatings segment include primers, top coats, varnishes, inks, sprays, stains, fillers and other coatings used by customers in a wide range of manufacturing industries, including building products, appliances, furniture, transportation, agricultural and construction equipment, metal packaging and metal fabrication.

[ILLUSTRATION OMITTED]

Valspar acquired Brazil's Isocoat Tintas e Vernizes Ltda., located in Aracariguama, in Sao Paulo state, strengthening Latin American sales of powder, liquid and electrodeposition coatings.

Isocoat, which began business producing electrostatic dust coatings, had sales of $34 million in 2010, and has the capacity to produce 10,000 metric tons of product per year, according to a company report. Among its export markets are Argentina and Colombia. Isocoat is a leader in the industry in Brazil and was the first Brazilian dust coatings company to gain certification from Qualicoat under the Zurich-based Association for Quality Control in Lacquering, Painting and Coating Industry.

Valspar's powder coating brands in Brazil include Poliester TGIC, Poliester Epoxi Hibrido, Epoxi and Poliester Uretano. The company also markets Vectrogard electrocoatings.

Elsewhere in Latin America, Valspar has a subsidiary in Mexico. Valspar Mexicana, S.A. de C.V. brands include Valspar, EzDex, EcoDex, Duraspar, Valflex, Fluropon, Dynaprime, Greenbar and Vectrogard.

Valspar also opened a new research and development center in Shunde, China. The Valspar Applied Science and Technology Center will employ over 200 scientists to support the continued growth of Valspar in Asia Pacific and Valspar's research and development on a global basis. Valspar's 2011 sales in Asia Pacific were $1 billion. Nearly half of the sales in the Asia Pacific region are in China, where Valspar currently has five manufacturing facilities. Valspar produces and sells high-quality coatings for numerous end-markets in China, including consumer paints, food and beverage packaging, shipping containers, furniture, building products, and agricultural and construction equipment.

New product innovations

De Beer WaterBase 900+ series

Valspar Automotive introduced the latest addition to its waterborne refinish product platform with the De Beer WaterBase 900+ series. This new system features 13 additional mixing colors that have higher coverage and require fewer undercoats than the current system, providing increased productivity and cost savings to the body shop, while meeting global VOC compliance regulations said the company. Body shops can achieve a 20 percent increase in coverage versus the current 900 system and experience up to an additional 10 percent in savings.

Valspar+

Valspar Paint has rolled out Valspar+, certified asthma and allergy friendly by the Asthma and Allergy Foundation of America (AAFA). Valspar+ reduces airborne irritants during painting, improving the painting process for those with respiratory sensitivities, the company says. In addition to having zero volatile organic compounds (VOCs), which can be a trigger for people impacted by asthma and allergies, Valspar+ has no lingering odor. Once dried, the paint's antimicrobial properties help it to resist mold and mildew. Valspar+ can be used in any room in the home and is ideal for bedrooms, especially for children, bathrooms, basements and kitchens. Valspar+ can be tinted in thousands of Valspar colors and is available in flat, satin and semi-gloss sheens.

08 RPM International Inc.

Medina, Ohio/USA

www.rpminc.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1947

REVENUE: S3.381 billion * (2010: 3.4bn)

MARKETS SERVED

* Roofing systems

* Flooring systems

* Primers-sealers

* Hobby and craft paints

* Rust-preventative paints

* Caulks and sealants

* Corrosion control coatings

* Specialty paints

* Wood stains and finishes

KEY EXECUTIVES

Frank Sullivan, chairman and CEO; Ronald Price, president and COO; Paul Hoogenboom, senior VP manufacturing operations and CIO; Robert Matejka, senior VP and CFO; Business managers: Thomas Reed, Rust-Oleum Group; David Reif, Performance Coatings Group; Randall Korach, Building Solutions Group; John McLaughlin, DAP Group; Michael Tellor, RPM II Group.

RPM International Inc. is a multinational holding company with subsidiaries that manufacture and market high-performance coatings, sealants and specialty chemicals, primarily for maintenance, repair and improvement applications. In fiscal 200 I, the company's industrial products accounted for 67 percent of its $3.381 bn of total sales, with consumer products representing the remaining 33 percent.

The Industrial Segment's operating groups include RPM Building Solutions Group, which provides roofing systems, sealants and concrete admixtures. Leading brands include Tremco, Tremco illbruck and Euco. RPM Performance Coatings Group includes polymer floor coatings, corrosion control coatings and fiberglass reinforced plastic grating. Its primary brands include Stonhard, Carboline and Fibergrate. RPM II Group offers specialty chemicals, exterior insulation and finish systems and recreational marine coatings. Major brands include Day-Glo, Dryvit, Kop-Coat and Pettit.

RPM's consumer products are sold primarily in North America and have a growing presence in Europe, predominantly in the UK. The Consumer Segment's operating groups include Rust-Oleum Group, which provides rust-preventative and small project paints, primer-sealers, wallcovering preparation and removal products, wood stains and finishes, mildew resistant paints and hobbyist products. Major brands include Rust-Oleum, Zinsser, Varathane, Tor and Testors. DAP Group markets caulks, sealants and patch and repair products under the DAP brand.

During the year RPM's Building Solutions Group (RPM BSG) signed an agreement to acquire FEMA Farben + Putze GmbH (FEMA GmbH.) of Ettlingen, Germany. FEMA GmbH, with annual sales of more than $40 million, is a manufacturer and supplier of external insulating and finishing systems (FIFS) and complementary product lines to the German and French construction markets.

The Performance Coatings Group acquired the Grupo P&V group of companies, a leading European vertically integrated supplier of passive fire protection and insulation products. Headquartered in Barcelona, Spain, and with manufacturing in Villarana, Grupo has annual sales of approximately $23 million. Grupo manufactures, markets and installs expanded perlite and vermiculite for passive fire protection, soundproofing, and cryogenic arid heat insulation applications.

The RPM Wood Finishes Group, a manufacturer of wood coatings and touch-up and repair products, acquired Fuhr Industrial, a provider of waterborne wood coating products and technologies based in Mansfield, Texas. The combining of RPM's waterborne technologies with CCI's industrial wood coatings line better enables Fuhr to service the North American wood coatings markets with environmentally friendly products.

The Performance Coatings Group during the year also acquired API S.p.A., a $28 million producer and installer of polyurethane and urethane-based flooring and decking solutions for cruise ships, mega-yachts and naval applications. Based in Genoa, Italy, API also produces epoxy and polyurethane flooring systems for the Italian building market.

Rust-Oleum product innovations

Rust-Oleum introduced several product innovations in 2011. Countertop Transformations is a do-it-yourself (DIY) decorative coating system that can replicate the look of sought-after countertop materials like natural stone. It features Home-Shield Antimicrobial Protection to protect the painted surface by inhibiting the growth of mold, mildew and other odor or staincausing microbes.

[ILLUSTRATION OMITTED]

Rust-Oleum Professional Dry Erase Paint is another new product that creates a writeable, erasable surface on walls in conference rooms, offices, classrooms, dorm rooms, lobbies or anywhere a dry erase surface is desired. The two-part water-based urethane coating can also be used to convert existing chalkboards or dry erase boards to new dry erase surfaces, making it an alternative to replacement.

[ILLUSTRATION OMITTED]

09 Kansai Paint Co., Ltd.

Osaka, Japan

www.kansai.co.jp

PUBLIC COMPANY

YEAR ESTABLISHED: 1918

REVENUE: 53.25 billions * (2010: 2.8bn)

MARKETS SERVED

* Automotive coatings

* Industrial coatings

* Decorative coatings

* Marine and protective coatings

KEY EXECUTIVES

Shoju Kobayashi, chairman; Yuzo Kawamori, president; Koichi Imada, executive vice president.

Operating in Japan, Europe, the U.S., Southeast Asia, India and China, Kansai Paint Co. Ltd. offers a broad range of coatings solutions for various markets. It divides its business into automotive (42 percent), industrial (29 percent), decorative (20 percent), and marine and protective (9 percent) segments.

With $3.250bn in sales revenue for 2011--up from $2.8 billion the year before--Kansai Paint operates three state-of-the-art automotive paint plants from its headquarters in Osaka, Japan and is the leading supplier of automotive coatings to Toyota, Suzuki, Nissan, Honda, Peugeot and Renault worldwide.

In 2011, after a year of bitter opposition, a competition watch-dog approved Kansai Paint's $260 million takeover bid of South Africa's Freeworld Coatings. The deal represents a significant push into the continent for Japan's largest paint and coatings maker.

In Japan, Kansai's largest operating segment, in the area of auto-motive OEM coatings, the company has been putting its efforts into developing new technologies such as the Waterborne 3-Wet Coating System, which gives a high-quality external appearance and actively works to reduce emissions of CO2, as well as its clear top coat with improved scratch resistance. The company said it is striving to open up new markets through these new technologies. In the second half of the term under review, the subsidy system for Japanese auto buyers who purchase an eco car came to an end and this impacted the number of vehicles being manufactured but despite this Kansai said it still managed to record an increase in sales. In the auto refinishing area, Kansai bolstered its range of environmentally friendly coatings as well as reinforced its color-matching online system, striving to expand its sales. In industrial coatings, as demand recovered supported by strong exports for construction machinery, the company said its coatings for beverage cans were in high demand due to the intensely hot summer and as a result recorded an increase in sales. In decorative coatings, the slump in new housing constructions and capital investment in the private sector continued throughout 2011, so as a consequence Kansai said it focused on repainting and recoating existing structures and as a result it was able to record an increase in sales. In the area of marine and protective coatings, Kansai has expanded sales in ship repair, namely anti-fouling paint for the vessel's hull and functional coatings for repairs, but due to the slump in the new ship construction market, its sales for the term under review decreased. In the field of protective coatings, in order to receive orders for bridge repairs Kansai promoted its high value-added products but both public and private investment in these structures continued to fall, so as a consequence it registered a decrease in sales for this area. Kansai's sales in Japan totaled $1.885bn, an increase of 2.3 percent on the previous term.

In India, the next largest operating segment, in the field of automotive coatings, new manufacturing plants owned by domestic automakers as well as Japanese manufacturers have moved into full production and due to this expansion in production, Kansai's sales have risen accordingly. Furthermore, with the expansion of the Indian economy centered on internal demand, the company has seen a positive increase in its sales in the field of decorative coatings. As a result, Kansai's sales in India totaled $512 million, an increase of 12.8 percent on the previous term.

In Asia, in automotive coatings, rising demand from China coupled with a large-scale increase in the number of automobiles manufactured in Thailand and Indonesia led to a growth in sales. In the industrial coatings field, Kansai has been able to increase sales, centered on construction machinery, in China and Thailand. As a result, Kansai's sales in Asia totaled $509 million, an increase of 18.1 percent on the previous term.

In Europe, customer manufacturing in the area of industrial coatings continued its steady progress and consequently sales in Turkey have shown some growth. As a result, Kansai's sales in Europe totaled $115 million, an increase of 6.2 percent on the previous term.

Kansai Paint launches Ales Cool

Kansai's new Ales Cool is a solar radiation-reflective coating that can reduce the heat energy that is generated on a sun-exposed roof. Ales Cool forms a coating film that can efficiently reflect sunbeams containing solar (infrared) rays. Ales Cool benefits from a raw material that is effective at reflecting infrared rays which is contained in both the topcoat and the undercoat and this creates a double-blocking effect that delivers improvements in heat performance. By applying a coating of Ales Cool on the roof, the rooftop temperature during the hottest part of the summer can result in temperatures cooler by some 10 to 20 degrees centigrade the company said. This can lead to reductions of up to 40 percent in terms of the cost of electricity consumption in order to keep indoor temperatures at a comfortable level, and energy conservation simulations have shown that this reduction in electricity consumption also translates into a reduction of as much as 40 percent in CO2 emissions.

10 Sika AG

Baar, Switzerland

www.sika.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1910

REVENUE: $2 B37 billion * (2010: 2.3)

MARKETS SERVED

* Sealants

* Adhesives

* Protective coatings

KEY EXECUTIVES

Walter Gruebler, chairman of the board; Ernst Bartschi, CEO; Group management: Alexander Bleibier, construction, contractors; Christoph Gant construction, distribution; Ernesto SchOmperli, construction, concrete; Bruno Fritsche, industry; Silvio Pond, Europe North; Hubert Per rin De Brichambaut, Europe South; Oven aadvvick, IMEA; Paul Schuler, North America; Jose Luis Vazquez, Latin America; Jan Janisch, Asia Pacific.

Sika's product line includes concrete admixtures, sealants, adhesives, corrosion inhibitors, specialty mortars., epoxy resins, structural strengthening systems, grouts, anchoring adhesives, overlays, and protective coatings. The sale of adhesives, sealants and coatings amounted to approximately $2.837 billion in 20 l 1, up from $2.3 billion the previous year. These products are spread out across the construction segment, which is responsible for about 80 percent of revenue, and the industry segment, which makes up the remaining 20 percent.

In March of the year under review, Sika acquired through its Chinese subsidiary Sika (China) Ltd. a controlling interest in Hebei jiuqiang Construction Material Co. Ltd., a leading supplier of concrete admixtures in northern China.

As part of its ongoing reorganization in the Middle East, Sika and its local partner founded a regional holding company, Sika Arabia Holding Company I'LL, Bahrain, in which Sika holds a 51 percent stake.

At the beginning of July Sika AG acquired BIRO Edwin Bischof AG, a Romanshorn-based plastic products manufacturer with strong skills in multi-component injection molding. BIRO Edwin Bischof AG produces components for the European automotive industry on behalf of Sika, including sound absorbing parts and reinforcers for bodywork structures.

In the same month Sika AG acquired Technokolla S.p.A., a company based in northern Italy and a leader in tile adhesive systems. The Northern Italy-based company generated sales of approximately $47 million in 2010. Sika expects the acquisition to expand its market position in Italy. Based in the northern Italian town of Sassuolo, Technokolla is a subsidiary of the privately owned Fincea Group, of which Iris Ceramica, one of the leading ceramic tile manufacturers in Europe, is also a member. It is number three in the Italian local market for tile adhesive systems as well as having a good presence in the neighbouring countries.

At the end of August Sika AG acquired Colauto Adesivos e Massas Ltda., a Brazilian manufacturer of adhesives and sealants as well as acoustic damping and structural reinforcement elements for Latin America's fast-growing automobile and transport industry. Colauto is one of the leading suppliers of chemical process materials for the automotive industry in Latin America.

At the beginning of October Sika AG acquired the outstanding shares through its Spanish subsidiary Sika S.A.U. the Comercial de Prcresa, S.A.U. (Copsa), a company operating in Spain and Portugal in the fields of flooring, refurbishment and strengthening.

At the beginning of December Sika acquired through its Canadian subsidiary the company Duochem Inc., which manufactures and sells polymer flooring and waterproofing products for the construction industry. Duochem Inc. is located in Boucherville, Quebec, Canada with annual sales of approximately CHF 9 million (USD 9.7 million). Duochem was founded more than 40 years ago and produces polymer flooring products for a wide variety of industrial and architectural applications, and polyurethane waterproofing coatings and membranes used in the protection of parking decks and concrete structures. The products are manufactured in Quebec and sold primarily to customers throughout Canada..

Shortly before the end of the year Sika acquired the global concrete admixture and cement grinding aid business of the Italcementi Group, which trades under the brand Axim. Axim includes several production and sales organizations in Italy, France, the USA, Canada, Morocco, and Spain and offers a broad range of products.

Sika launches Sikasil product line

Sika Corporation introduced during 2011 the Sikasil line of silicone sealants and adhesives. The product range is an addition to the broadest technology range of sealants and adhesives offered in North America the company said. Released under the Sikasil brand name, the product range includes: Sikasil-GP, general purpose acetoxy cure; Sikasil-N Plus US, an assembly neutral cure; Sikasil-SG-10, a neutral fast cure structural adhesive; and Sikasil-WS290 and Sikasil-WS 295 neutral cure for weather sealing and semi-structural applications. Sikasil products are available in multiple colors and package configurations including 10 ounce cartridges, 20 ounce unipacs, and pails and drums for assembly line operations. The products are ideal for general and specialty use in the transportation, appliance and building components markets.

11 Nippon Paint Co., Ltd.

Osaka, Japan

www.nipponpaint.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1881

REVENUE: $2.815 billion * (2010: 2.5bn)

MARKETS SERVED

* Automotive coatings

* Industrial coatings

* Decorative coatings

* Marine and protective coatings

KEY EXECUTIVES

Kenji Sakai, president, representative director; Yoshio Andou, senior vice president, general manager of trade use paint division and executive director; Ryoichi Baba, senior vice president, representative director; Kiyohiko Chijiiwa, executive vice president and director; Kanji Nishijima, vice president.

Nippon Paint manufacture all types of paints and coatings including those for automobiles, construction, architecture, steel structures, ships, metal, electrical equipment, machinery, roadways and household appliances among others. Nippon Paint saw its sales rise in 2011 to $2.815bn. During the year Nippon Paint received the product innovation award in decorative paints given by the inaugural 2011 Frost & Sullivan Asia Pacific Green Excellence Awards, reaffirming the company's commitment to ecological sustainability and technological innovation. Nippon emerged at the top of the product innovation in decorative coatings category for its odor-free AirCare, an eco-friendly paint that absorbs indoor air pollutants. The evaluation process included a rigorous measurement-based short listing, in-depth interviews, analysis and extensive secondary research by industry analysts from Frost & Sullivan. Nippon Paint has for many years been committed to help protect the environment and save resources and energy through green innovation. With this vision Nippon has invested and established research and development centers to innovate quality paints that are eco-friendly. Nippon Odorless AirCare is one of the resulting products that helps create a safe and more hygienic indoor environment. With its Anti-Formaldehyde with Active Carbon technology, this paint is ideal for people who are allergic to indoor air pollutants and has been recommended for use in eco-sensitive areas such as hospitals, schools, hotels and homes. Nippon Paint, one of the largest paint manufacturers in Asia, was founded in Japan in 1881 and today with 33 manufacturing plants it produces over one million tonnes of paint and coatings annually. In Asia, all Nippon Paint offices are managed by the Nipsea Group.

Jotun AS

Sandefjord, Norway

www.jotun.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1926

REVENUE: 51.902 billion * (2010: S1.7bn)

MARKETS SERVED

* Decorative paints

* Marine and protective coatings

* Industrial coatings

* Powder coatings

KEY EXECUTIVES

Morton Fon, president and CEO; The management team: Bard Tonning, Jotun Dekorativ; Erik Aaberg, Jotun Paints; Esben Hersve, Jotun Coatings; Martin Chew, Jotun Powder Coatings; Ben Guren, CFO.

Jeotun's long-term growth trend continued in 2011 with improved sales in most segments and divisions, due to improved markets in Asia and parts of the Middle East said the company. company reported revenues of $1.902 billion in 2011, up from $1.7 billion the previous year. Jotun said it sold more paint in volume and value terms in 2011 than in 2010. Margins and profits were affected by high costs of major raw materials such as epoxies, titanium dioxide, acrylics and metals. Jotun's strategy of operating across a range of segments and geographies continued to yield results with higher sales in parts of Asia and the Middle East that offset slower sales in Europe. Jotun made considerable investments in 2011, and major projects during the year included: new production structure and construction of a new factory in Sandefjord; a new factory in Malaysia; ongoing construction of new factories and buildings in China and the United States; factory expansion in the UK; purchase of land in Russia and Indonesia; world-wide implementation of new business support information technology. The Jotun Group has 70 companies and 38 production facilities on all continents. Including the total network of legal companies, agents, branch offices and distributors Jotun is represented in more than 80 countries. Jotun's operations cover development, production, marketing and sales of various paint systems and products to protect and decorate surfaces in the residential, shipping and industrial markets. The Jotun Group has today 7,800 employees with its headoffice located in Sandefjord, Norway. During the year Jotun Paints launched Jotashield Extreme, an exterior paint product, in the UAE in response to the growing demand for heat-reflective and eco-friendly paints in the country. Jotun Powder Coatings launched its new line of eco-friendly products, Guard Gaze, Guard Miles and Guard Miles+. The three new powder coatings have been developed to meet the growing demands and requirements of industrial manufacturers.

13 Asian Paints Limited

Mumbai, India

www.asianpaints.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1942

REVENUE: $1830 billion * (2010: 1.930bn)

MARKETS SERVED

* Architectural coatings

* Industrial coatings

* Automotive coatings

KEY EXECUTIVES

KBS Anand, CEO; Vivek Subramanian, vice president, industrial, India; Arni: Syngle, vice president, architectural, India; Jalaj Dani, president, international operations.

Asian Paints is India's largest paint company and ranked among the top ten decorative coatings companies in the world with sales of $1.830 billion in 2011. Sales came largely from the company's architectural and decorative operations (90 percent) while its automotive and industrial coatings sales (10 percent) made up the remaining. Established in I 942 Asian Paints operates 24 manufacturing facilities across the globe. The largest share is in South Asia where the firm runs 1.3 plants spread throughout India, Sri Lanka, Nepal, Bangladesh and Singapore. There are five plants in the Middle East in Egypt, Oman, Bahrain and Dubai. In the South Pacific islands of Fiji, Vanuatu and Samoa, Asian Paints runs three plants. Lastly, in the Caribbean, Jamaica, Barbados, and Trinidad and Tobago each are home to a facility. Subsidiaries include Berger International, SC1B Paints--Egypt, Asian Paints, Apco Coatings and Taubmans. Asian Paints markets the following architectural brands in India: Apex, Ace and Apex Ultima for exterior walls; Royale, Tractor, Premium Emulsion, Apcolite and Utsav for interior walls; Apcolite and Utsav for metal surfaces; and I'll, Melamyne, Apcolite and Utsav for wood. Asian Paints recently expanded its production capacity at Rohtak (Haryana, India) from 150,000 Kl. per annum to 200,000 KL per annum. This plant can be further scaled to produce 400,000 XI. per annum. The Rohtak Plant was set up in April 2010. The other paint manufacturing facilities of Asian Paints in India are located at Mumbai (Maharastra), Ankleshwar (Gujarat), Kasna (Uttar Pradesh), Patancheru (Andhra Pradesh) and Sriperumbudur (Tamil Nadu). The company is also setting up a plant at Kesurdi (Khanda la) in Maharashtra.

14 The Comex Group

Mexico City, Mexico

www.thecomexgroup.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1959

REVENUE: $1.6 billion--(2010: 1.6bn)

MARKETS SERVED

* Architectural coatings

* Industrial coatings

* Automotive refinish coatings

* OEM (non-automotive)

KEY EXECUTIVES

Marcos Adler, CEO, Comex Group; Leon Cohen, president, Comex Mexico; Marcos Achar Meyohas, vice president treasurer; Elias Achar, vice president operations; Kent Child, president, U.S. and Canada.

Comex Group is the largest paint company in Mexico and with its combined U.S. acquisitions its revenue is approximately $1.6 billion. Roughly 75 percent of sales came from the architectural segment, 15 percent from industrial coatings, five percent from OEM (excluding automotive) and five percent from auto refinish. As the leading paint producer in Central and South America and the fourth largest architectural paint manufacturer in North America, Comex serves professional and DIN customers through more than 3,300 locations from Canada to Panama. Comex Group's wide range of products are manufactured and marketed through a group of regional companies. Comex Group's companies in the U.S. and Canada were formerly part of Professional Paint, Inc. (PPI). PPI was brought into the Comex Group in 2004. PPI's network of regional paint formulators sell under different brands in the U.S. including Color Wheel in Florida, Frazee in California, Kwal Paint in Colorado, Parker Paint in the LS. Pacific Northwest and General Paint in Canada. Comex's industrial line of paint, coatings and building products complement PPI's residential and commercial paint lines. Comex Group also operates Comex Mexico and Comex Central America. In recent news, one of Comex's partner companies, Color Wheel Paint, a manufacturer of paint and industrial coatings expanded into North Carolina NYMich marks significant growth and geographic expansion for the Florida-based brand. Color Wheel Paint offers paints such as Flex Lox, Optima and Tropicoat; specialty lines such as UltraCrete and Texturi; and a complete line of industrial coatings. All Color Wheel products are designed and tested for durability in the hot, humid climate of the Southeast region of the United States where paint failure due to mildew and fading are major concerns. A new company-owned Color Wheel Paint store opened in Raleigh, N.C. The company said it has seen a growing demand for its paint products in this marker as well as encouraging overall economic growth.

15 H.B. Fuller Company

St. Paul, Minnesota/USA

www.hbfuller.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1887

REVENUE: $1,557 billion * (2010: 1.35bn)

MARKETS SERVED

* Adhesives

KEY EXECUTIVES

Jim Owens, president and CEO; James Giertz, senior VP and CFO; Joan Schuller, VP, Asia Pacific; Steven Kenny, senior VP, EIMEA; Barry Snyclei; VP and chief technology officer.

H.B. Fuller. Company is a global manufacturer and marketer of adhesives and other specialty chemical products. The company is managed through four regional operating segments--North America, Europe, Latin America and Asia Pacific. The largest business component in each of the regional segments is adhesives. H.B. Fuller posted sales of $1.557 billion in 2011. During the year, H.B. Fuller strengthened its foothold in Turkey by signing an agreement to enter into a joint venture with Burak Ozberk, its longstanding agent there. A new entity will be created, with H.B. Fuller owning majority control. H.B. Fuller Company has acquired the assets of privately held Corp., an Ohio-based manufacturer and marketer of the patented Liquamelt adhesive system. H.B. Fuller Company has opened its manufacturing facility in Nanjing, China. The new plant is the first multinational reactive adhesives plant in China and is located in the Nanjing Chemical Industrial Park. This facility and the company's regional technical center in Shanghai will collaborate to serve the Asia Pacific region. H.B. Fuller's Nanjing facility will produce urethanes and other reactive chemistries for customers in the construction, filter, flexible packaging, solar, textile, window and woodworking markets. H.B. Fuller during the year also appointed Joan Schuller as vice president, Asia Pacific. Schuller joined H.B. Fuller from Dow Advanced Materials. Prior to its acquisition by Dow, Schuller spent 16 years at Rohm and Haas Company, including five years leading businesses in Singapore and China. H.B. Fuller said it agreed to buy Swiss firm Forbo's industrial adhesives business for $395 million, as the specialty chemicals maker bulks up its presence in Europe. Since March 2009, St Paul, Minnesota-based H.B. Fuller has acquired four adhesive makers. Adhesive and related products make up more than 85 percent of the company's sales. Forbo's adhesive business will generate about $580 million in revenue this year, H.B. Fuller said, and it is also ranked in this year's report for the last time.

16 Hempel A/S

Kgs. Lyngby, Denmark

www.hempel.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1915

REVENUE: $1.500 billion * (2010: 1.2bn)

MARKETS SERVED

* Architectural coatings

* Marine and protective coatings

* Container coatings

* Yacht coatings

* Decorative coatings

KEY EXECUTIVES

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.

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 [euro]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 [euro]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 [euro]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.

17 Masco Corporation

Taylor, Michigan/USA

www.masco.com

PUBLIC COMPANY

YEAR ESTABLISHED. 1929

REVENUE $1,403 billion * (2010: 1.4bn)

MARKETS SERVED

* Architectural coatings

KEY EXECUTIVES

Richard Manoogian, chairman; Timothy Wadhams, president and CEO; Donald DeMarie, executive vice president and COO.

Maseo Corporation produces architectural coatings including paints, primers, specialty paint products, stains and waterproofing products. The products are sold in the U.S., Canada, China, Mexico and South America under the brand names Behr, Kilz and Expressions to DIY and professional customers through home centers, paint stores and other retailers. Sales of architectural coatings comprised S1.493 billion in 2011, which was slightly more compared with last year's revenue. The firm's high profile Behr products are sold through The Behr Process Corporation to The Horne Depot, the segment's and company's largest customer. The paint departments at The Home Depot stores include the Behr color center and computer kiosk with the Color Smart by Behr computerized color-matching system that enables consumers to select and coordinate their paint color selection. Behr's product offering was enhanced by the introduction of the Behr Premium Plus Ultra. interior paint, which is a high-quality, low volatile organic compound, interior paint and primer in one. Masco said the loss of this segment's sales to The Home Depot would have a major adverse effect on its overall business. Masterchem Industries, manufacturer of architectural coatings including its flag-ship Kilz brand products, recently introduced its latest innovation--Kilz Pro-X Interior Latex Paint. Engineered for painting and Nevall covering contractors, general contractors, residential remodelers, commercial and property managers, as well as professionals involved in new construction, Kilz Pro-X is sold exclusively through The Home Depot. Kilz Pro-X is available in two series--Kilz Pro-X -300 Series and Kilz Pro-X -100 Series. The 300 series is a high-quality interior latex paint series that offers premium performance with an environmental edge. The 100 series is an economical production grade interior latex paint series ideal for ceilings and walls. It can be tinted to five classic white colors.

18 DAW (Deutsch AmphibolinWerke)

Ober-Ramstadt, Germany

www.caparol.de

PRIVATE COMPANY

YEAR ESTABLISHED: 1895

REVENUE: $1,4 billion--(2010: 1.4)

MARKETS SERVED

* Architectural coatings

KEY EXECUTIVES

Ralf Murjahn, CEO

The parent company of the Caparol Group is the Deutsche Amphiholin-Werke von Robert Murjahn Riffling & Co KG (DAWL DAW was founded in 1895 and today carries out the central functions such as purchasing, production and finances. DAW is the leading German decorative paint manufacturer with sales of approximately $1.4 billion, all in the decorative coatings segment. The Caparol brand is the leading brand within the DAW Group. The marketing activities are subdivided into six strategic business units. In the professional business unit high quality paints, enamels, glazes, chemical building products and materials for facades and insulation technology are marketed under the brands Caparol, Alligator and Alsecco for professional users. The product range of the brand Alpina, which is active in the DIY business unit, is mainly composed of environmentally friendly, non-noxious, easily worked and high quality decorative paints, enamels and glazes and is aimed at the end-user. The wholesale business unit comprises an extensive range of services for the professional paint wholesalers provided by the company Caparol Marketing Service (CMS). The industrial business unit is supported by the company Caparol In dustrial Solutions whose products and services are exclusively orientated to the requirements of industrial customers. Lastly, the Nerchau decorating and artist's paints is located in Saxony and produces high quality paints for educational, hobby and artistic requirements. With 3,700 employees and a large number of production sites at home and abroad, the Caparol Group is one of the leading companies for paints, enamels and building protection in Europe. In the professional and also DIY markets the company with its headquarters in the Rhine-Main region is the market leader with its brands Caparol and Alpina.

19 AB Wilh. Becker

Hoganas, Sweden

www.becker.se

PRIVATE COMPANY

YEAR ESTABLISHED: 1865

REVENUE: $1.200 billion * (2010: 1.050bn)

MARKETS SERVED

* Industrial coatings

* Architectural coatings

* Artist colors and fine art materials

KEY EXECUTIVES

Beckers Group: Jenny Linden Urnes, chairman; Erik Urnes, CEO; Mats Hansson, CFO and executive vice president; Becker Industrial Coatings: Boris Gorella, CEO; ColArt: Thomas Brautigam, CEO.

Beckers sold its wood finishes division, Becker Acroma, to Sherwin-Williams in 2010. At the time of the sale Becker Acroma was one of the largest manufacturers of industrial wood coatings globally and a technology leader in water and other wood coatings technology with annual sales of approximately $300 million. Included in the divestment were Becker Acroma's nine manufacturing facilities, 19 mixing sites and 13 technical centers around the world, which serve the joinery, kitchen cabinet, furniture and flooring markets. Also during the year a new CEO was appointed for Becker Industrial Coatings. Boris Gorella succeeded Ralph Kabalo as the new chief executive and leader of the global BIC business. October 2010 saw the official grand opening of a new high performance coatings plant in Tianjin in northern China, dedicated to consumer design finishes products. In May 2011, at the ECCA (European Coil Coating Association) general meeting in Berlin, Bengt Ingman, technical coordinator coil coatings at Becker Industrial Coatings, was honored with the ECCA Outstanding Contributor Award. Also during the year Saab's concept car PhoeniX was coated with Seekers' Ecochromo and unveiled at the Geneva 2011 Motor Show. With its "aeromotional" design the PhoeniX established a new reference point for future products to be expected from Saab. The PhoeniX was designed by executive design director Jason Castriota and his team. During spring 2010 the Saab design team was introduced to the Trend Collection created by Becker Industrial Coatings' Consumer Design Finishes (CDF) division. This inspired Saab to approach Seekers at the end of last year when in the process of designing and building the PhoeniX. Beckers suggested the Ecochromo product developed at its Italian site because Saab was looking for a special coating to emphasize the liquid metal effect for their concept can

20 Chugoku Marine Paints

Tokyo, Japan

www.cmp.com.jp

PUBLICC COMPANY

YEAR ESTABLISHED: 1917

REVENUE: S 1.185 billion * (2010: 1.1bn)

MARKETS SERVED

* Marine coatings

* Industrial coatings

* Container coatings

* Adhesives

KEY EXECUTIVES

Tetsuo Yamazumi, chairman, Masataka Uetake, president and CEO.

Chugoku Marine Paints, Ltd. is a Japan-based company that manufactures and sells paints for ship, industrial and container uses, as well as adhesives. Chugoku Marine Paints (Shanghai), Ltd., a subsidiary located in Jiading District, Shanghai, China, completed construction of its second factory and began operations. This factory, the company's third manufacturing plant in China following the first Shanghai factory and the Guangdong factory, was established in order to strengthen the company's productivity and competitiveness, as well as increase customer satisfaction. The new factory will supply paints for vessels, industrial paints for bridges, industrial plants, steel structures, etc. and resins for paints. In terms of new technology, CMP launched its Ekornate Series of waterborne coatings for dry container. After many years of focused research and development of waterborne coating systems, CMP said it made a significant breakthrough with the Ekomate advanced waterborne coating system, which could reduce VOC emissions by 80 percent when compared to solventborne coating systems. In addition, Ekomate products improve the working environment by reducing odors and because they are water-based rather than solventborne, the products remove a number of hazards associated with the risk flash ignition and fire. Following cooperation with dry container box manufacturers and owners, which included many trial applications in China, which is the hub of the new container box manufacturing industry, the trials have demonstrated that the Ekomate technology can be applied on existing production lines with minimum adjustment to the norms or investment in new equipment said the company. CMP Shanghai is manufacturing 2,000 tons of Ekomate per month and is expanding production capacity to meet market demand which in turn continues to elevate CMP's green policy and ongoing commitment to the environment.

21 Materis Paints S.A.S

Clichy, France

www.materis-paints.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1986 * (2010: 1.0bn)

MARKETS SERVED

* Architectural coatings

KEY EXECUTIVES

Olivier Leyrain, Materis chairman; Rene Riu, president, Materis Paints.

Materis Paints SAS is a manufacturer and provider of construction materials including decorative and industrial paints for the professional and consumer markets. The company was founded in 1986 and is based in Clichy, France. In 2006, French investor Wendel Investissement purchased chemicals producer Materis from private equity group 1.80 France. Materis Paints is the largest business within the Materis group of companies representing 40 percent of sales, or $1.135 billion in 20 1 1. Materis' brands include Tollens, Zolpan, Max Meyer, Ducco and Rohbialac. In terms of market position, Materis Paints holds leading positions in the areas it operates. The firm is number four in Europe, number two in France and Portugal, number one in Italy, number four in Spain and Morocco and number five in Argentina.

22 SK Kaken

Ibaraki-City, Japan

www.sk-kaken.co.jp

PUBLIC COMPANY

YEAR ESTABLISHED: 1955

REVENUE: $992million * (2010: 831mn)

MARKETS SERVED

* Specialty coatings

* Textured coatings

* Architectural paints

* Industrial coatings

* Floor and root coatings

* File retardant and heat insulating coatings

KEY EXECUTIVES

Minoru Fujii, president; Masahide Sakamoto, executive director; Mitsuhiro managing director.

SK Kaken Co., Ltd. manufactures and sells organic or inorganic water-based painting materials, synthetic resin coatings, inorganic painting and construction materials, and special finisherers. Coatings sales in 2011 were $922 million. It also offers fireproof paints, and various transformation goods and cleaning agents; and involves in the contract of fireproof and insulated construction. The company was formerly known as Shikoku Kaken Industry Co., Ltd. and changed its name to SK Kaken Co., Ltd. in 1991. SK Kaken Co., Ltd. was founded in 1955 and is headquartered in Ibaraki-City, Japan. In 2008 the company established its Chongqing office in China, Kuantan office in Malaysia and Seoul factory in Korea. In 2007 it established its Bangalore office in India, as well as a Hanoi office and Ho Chi Minh office in Vietnam.

23 KCC Corporation

Seoul, South Korea

www.kccworld.co.kr

PUBLIC COMPANY

YEAR ESTABLISHED: 1958

REVENUE $899 million * (2010: 1 3bn)

MARKETS SERVED

* Marine and container

* Automotive coatings

* Automotive refinish

* General industrial coatings

* Decorative coatings

* Powder coatings

KEY EXECUTIVES

Mong Jin Chung, chairman; Mong lk Chung, CEO; Yoo Sungki, executive director; Kim Jin Ho, managing director; Yeo Gab Hyun, director; Kim Ki Yong, director; Byun Jeong Sik, marketing director; Kim Burn Sung, technical director.

Korea Chemical C0., Ltd. was established in I 958 and is now the largest Co., Ltd. was established in 1958 and is now he c paint producer in South Korea. The company is involved in the production of paints for automobiles, ships, containers, construction and industrial use. it also manufactures PVC material for flooring and paint sealant. Paint for the marine segment is the largest and accounted for 25 percent of sales. Automotive OEM sales amounted to I 7 percent of sales; decorative coatings accounted for 15 percent; general industrial six percent; powder coatings six percent; auto refinish four percent; and the remainder of sales is not detailed. Total sales revenue for the year dropped to $899 million in 2011 from $1.3bn the year before. The company was formerly known as Kumkang Korea Chemicals Co., Ltd. and changed its name to KCC Corporation in March 2005.

24 Tikkurila Oyj

Vantaa, Finland

www.tikkurila.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1862

REVENUE: 5896 million * (2014: 781mn)

MARKETS SERVED

* Decorative coatings

KEY EXECUTIVES

Erkki Jarvinen, president and CEO; Jukka Havia, CFO; Pen i Mietzinen, VP, supply chain and HSEQ; Anna-Lena Hogieldt, VP, group marketing; Kenneth SundbeN, VP, R&D; Janno Paju, VP, East; Nikias Frisk, VP Scandinavia; Arto Lehtinen, VP, Finland: Ilpo lousimaa, VP, Central Eastern Europe.

Tikkurila's operations are organized in four strategic business units (SBU): SBU East, SBU Scandinavia, SBU Finland and SBU Central Eastern Europe. It is the leading regional paints and coatings company in Finland, Sweden and Russia. Sales grew to $896 million in 2011. Tikkurila divested its powder coatings business in January 2011 by selling all shares in 000 Tikkurila Powder Coatings, a Russian industrial coatings company, to focus on its core decorative opeartions. In April, Tikkurila strengthened its position in the Balkan area when it entered into an agreement to acquire Serbian paint company Zorka Color. In addition to Serbia, Zorka Color also operates in Macedonia, Bosnia-Herzegonvina, Montenegro, Croatia and Kosovo. During the year Tikkurila also launched the ProHouse concept, a new surface treatment method for wooden surfaces.

25 Dai Nippon Toryo

Osaka, Japan

www.dnt.co.jp

PUBLIC COMPANY

YEAR ESTABLISHED: 1929

REVENUE: $889 million * (2010: 828mn)

MARKETS SERVED

* Automotive OEM coatings

* Automotive refinish

* Marine coatings

* Decorative coatings

KEY EXECUTIVES

Fumitake Yamashita, president Norihiro Mashima, director of finance, executive officer; Nobukazu Kawamoto, director of overseas operations; Isamu Suzuki, director of business development; Yoshinori Hirotani, director of marketing; Shin Emi, manager of industrial coatings.

Dai Nippon Toryo Co., Ltd. operates in the paint industry primarily in Japan. DNT's coatings revenue in 2011 was $889 million. It offers various coating products, which include heavy duty, industrial, automobile, refinishing, marine, home use paints, plastics and powder. The company also provides machines and equipment for paints manufacturing and coating applications. In addition, it offers its products in various fields, including electrical home appliances, housing, automobiles and information-related equipment, as well as for infrastructures, including high-rise buildings and largescale bridge construction. Dai Nippon Toryo Co., Ltd. was founded in 1929 and is headquar-tered in Osaka, Japan. In August 2008, Dai Nippon Toryo acquired a 67 percent state in Tokyo-based Daia Keiko Co., Ltd.

26 Lord Corporation

Cary, North Carolina/USA

www.lord.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1919

REVENUE: $825 million * (2010: 765mn)

MARKETS SERVED

* Automotive aftermarket adhesives

* Industrial metal bonding adhesives

* Corrosion control coatings

* High performance/heat reflective coatings

KEY EXECUTIVES

Richard McNeel, chairman, president and CEO; Jack De Leon, COO; Sharon Williams, senior VP, strategy and market development; Ed Auslander, VP, global business management.

Lord Corp. produces and sells general purpose and specialty adhesives and coatings It recorded coatings and adhesives i sales of approximately $825 million in 2011. Lord Fusor aftermarket adhesives are used to return vehicles to preaccident condition and include adhesives for bonding, metals and plastics, seam sealers and acoustical foams. Lord's industrial metal bonding adhesives can replace welds, rivets, screws, tape and other traditional fastening methods. Lord also has a line of elastomer bonding formulations that can accommodate commercially available elastomers, diverse metals and rigid plastic substrates. Lord manufacturers corrosion control coatings, specifically the MetalJacket line of coatings that protects substrates against corrosion and improves bonding properties. Lord also offers heat reflective coatings.

27 Snawcor

Toronto, Ontario, Canada

www.shawcor.com

PUBLIC COMPANY

MARKETS SERVED

REVENUE: $800 million * Pipe coatings (2010: 728mn)

KEY EXECUTIVES

V.L. Shaw, chair of the board; W.P. Buckley, president and CEO; J.D. Tikkanen, president, Bredero Shaw.

The pipe coating division of Shawcor Ltd., Bredero Shaw is the world's largest pipe coating manufacturer with sales of roughly $800 million in 2011. During the year it signed a deal with Chevron Australia Pty. Ltd. to provide pipe coatings and related products and services in connection with the gas supply trunkline and flow lines for the Wheat-stone LNG Project off the northwest coast of Australia. The company also won a $400 million contract from Mitsui & Co. Ltd., to provide pipe coatings and related products and services for the gas export pipeline that will serve the massive Ichthys LNG Project, a joint venture between Inpex Corporation and Total E&P. This project will involve advanced coatings for approximately 900 kilometres of 42 inch subsea pipeline from the offshore central processing facility to the onshore LNG facility at Darwin, Australia.

28 DuluxGroup Ltd.

Clayton, Victoria, Australia

www.deluxgroup.com.au

PUBLIC COMPANY

YEAR ESTABLISHED: 1918

REVENUE: $767 million * (2010: 700mn)

MARKETS SERVED

* Decorative coatings

* Powder coatings

* Industrial coatings

KEY EXECUTIVES

Peter Kirby, chairman; Patrick Houlihan, managing director and CEO; Stuart Bloxer, executive director and CFO.

DuluxGroup consists of Paints Australia, which is Australia's leading manufacturer of premium branded decorative paints, texture, protective and wood care coatings products; Paints New Zealand, which is New Zealand's leading manufacturer of premium branded decorative paints, texture and wood care coatings products; Selleys Yates, which is Australia and New Zealand's leading manufacturer of home improvement and garden care products; and the Offshore and other segment comprises Australia and New Zealand's leading manufacturer of powder and industrial coatings. Excluding the Selleys Yates operation, DuluxGroup recorded sales of $767 million in 2011. Australia accounted for 82 percent of sales, New Zealand 12 percent, and Asia and PNG six percent. In November 2011 the merger of DuluxGroup's DGL International business in China and Hong Kong with Camelpaint of Hong Kong to create DGL Camel International Limited.

29 Forbo

Baar, Switzerland

www.forbo.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1928

REVENUE: $662 million * (2010: 562mn)

MARKETS SERVED

* Industrial adhesives

KEY EXECUTIVES

Albert Gnagi, chaiman of the board of directors; This Schneider, CEO: Michel Riva, executive VP, bonding systems.

In December 2011, Fork) announced it.had signed an agreement with H.R. Fuller on the sale of its industrial adhesives and synthetic polymers businesses. Among the world's leading suppliers of industrial adhesives, in recent years, Bonding Systems has successfully strengthened its position in growth markets by building-up new production sites, particularly in China and Russia. At the same time, it has launched innovative products to increase the share of specialty products in its offering and developed high-quality applications for key market segments. The unit recorded sales of $662 million in 2011. Following the sale of the industrial adhesives and synthetic polymers activities, only the building and construction adhesives activity will remain in the Bonding Systems division.

30 Benjamin Moore

Montvale, New Jersey/USA

www.benjaminmoore.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1883

REVENUE: $550 million * (2010: 695mn)

MARKETS SERVED

* Architectural coatings

* wood coatings

KEY EXECUTIVES

Bob Merritt, president and CEO; Jim begin, VP finance, 00 and treasurer; Barry Cladwick, VP market development and product; Ker Marino, VP supply chain.

Benjamin Moore & Co. and Orchard Supply Hardware, a California-based home improvement retailer, formed during the year a strategic alliance that will yield distribution of the 129-year-old paint brand through the chain's stores statewide. Currently, Orchard has 87 stores with plans to add another three this year. Benjamin Moore will be Orchard's exclusive supplier of architectural paint. Orchard's Benjamin Moore product lineup will include Regal Select, hen, Concepts, Arborcoat Exterior Stain and Imagine by Insl-x, along with selected primers and applicators. Benjamin Moore's award-winning low-VOC Aura Paint will he available in select Orchard stores only. Orchard plans began selling Benjamin Moore paint in selected markets beginning in early April, with all locations carrying the product offerings by end of summer.

31 Berger Paints Melia Ltd.

Kolkata, India

www.bergerpaints.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1923

REVENUE: $523 million * (2010; 378mn)

MARKETS SERVED

* Decorative coatings

* Automotive coatings

* Industrial coatings

KEY EXECUTIVES

Subif Bose, managing director, executive director; Kuldip Singh Dhingra, Chairman of the board; Anirudha Sen, vice president.

Berger Paints was founded in 1923 and is India's second largest decorative paints player with sales of $525 million in 2011. It is active in a wide variety of decorative and industrial paint sectors and continues to gain an increasing share of the highly competitive Indian paint market. Apart from operations in Russia, with a production facility at the Berger manufacturing unit at Krasnodar. Berger has also expanded its footprint in Nepal by setting up a second unit. Today Berger's sister company in Bangladesh is the dominant leader with over 65 percent market share. In keeping with the company's dynamic growth plan, Berger has also acquired Bolix SA of Poland, a leading provider of External Insulation Finishing Systems (HES) in Eastern Europe. Berger is also the lone supplier to India's nuclear power plants.

32 National Paints Factories Co.

Amman, Jordan

www.nationalpaints.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1969

REVENUE $493 million * (2010: 347mn)

MARKETS SERVED

* Decorative coatings

* Powder coatings

* Marine coatings

* Industrial coatings

* Insulation system paints

KEY EXECUTIVES

Michael Faeq Sayegh, chairman, Sayecn Group; Saleem Faeq Sayegh, GM, National Paints UAE; Ibrahim Faeq Sayegh, GM, National Paints Jordan and technical director; Fug Michael Sayegh, GM, National Paints Egypt; Fares Michael Saeyegh, GM, National Pairts Romania; Nazi Qopti Sayegh, marketing director.

National Paints Factories Co., Ltd. (Sayegh Group) claims the number one position in the Middle East paint market with an annual production capacity of 300,000 tons of exports to more than 60 Arab and other countries. It's sales grew from $347 million in 2010 to $493 million in 2011. National Paints is involved in a number of sectors including architectural/decorative (35 percent), industrial (35 percent), auto OEM (15 percent), auto refinish (10 percent) and marine (five percent). In recent news the company said it is currently in negotiations for the building of new factories in Libya and Iraq. DuPont signed a DuPont Teflon surface protector trademark license agreement with National Paints. National Paints will co-brand three interior and two interior/exterior paints and a wood varnish with DuPont Teflon.

33 Helios

Domzale, Slovenia

www.helios.si

PUBLIC COMPANY

YEAR ESTABLISHED: 1924

REVENUE: $470 million * (2010: 386mn)

MARKETS SERVED

* Decorative coatings

* Car refinishes

* Metal coatings

KEY EXECUTIVES

Uros Slavinec, president; Marko Vresk, vice president; Branko Pas, vice president.

Helios Group is the leading manufacturer of coatings in South Eastern Europe with approximately 3,000 employees in more than thirty companies in fourteen countries and recorded sales of $470 million in 2011. Recently Helios strengthened its operations in Slovenia and opened a car refinishing coatings center and a production plant for water-based coatings in Domzale. The center has 2.400 square meters of usable surfaces and it brings together development, sales and educational capacities of Helios' car refinishing operations. The coatings manufacturer also opened a center for metal coatings in Medvode, Slovenia. Helios invested [euro]14 million in the three projects. Additional resources will be invested in the production plant for water-based coatings and the car refinishing coatings center until 2012. Currently the production capacity of decorative and car refinishing water-based coatings is 500 tons per month.

34 Nihon Toksuhu Toryo Co. Ltd.

Tokyo, Japan

www.nttoryo.co.jp

PUBLIC COMPANY

YEAR ESTABLISHED: 1929

REVENUE: $408 million (2010: 369mn)

MARKETS SERVED

* Decorative coatings

* Performance coatings

KEY EXECUTIVES

Masahiro Nojima, president, representative director; Makio Sakai, managing director, chief director of automobile product business, president of subsidiary; Jun Taya, managing director, chief director of operation, director of general affairs; Takehiro Toyoshima, chief director of painting materials business, director.

Nihon Tokushu Toryo Co., Ltd. is a Japan-based manufacturing company that operates in two business segments. The paint-related segment manufactures and sells paints and soundproof materials. This segment is also involved in the paint-related and soundproof material-related construction work. The Automobile Product-related segment manufactures and sells automotive soundproof materials, such as damping materials, acoustic absorbents and sound insulators, as well as antirust materials. Additionally, the segment is also engaged in the research and development of automobile acoustics. The company has nine subsidiaries and 10 associated companies in Japan, as well as overseas markets, including the United States, Thailand, China and Singapore. The company was founded in 1929, is headquartered in Tokyo and recorded sales of $408 million in 2011.

35 Betek Boya San. ye Tic. AS

Istanbul, Turkey

www.betek.com.tr

PRIVATE COMPANY

YEAR ESTABLISHED: 1988

REVENUE: $402 million

MARKETS SERVED

* Architectural

* Industrial

* Thermal Insul.

* Wood coatings in

* Adhesives

KEY EXECUTIVES

Gozde Akpinar, chairman; Tayfun Kucukoglu, board member and general mngr; Sevim Yeltekin, VP finance and board member; Mert Erdog, VP supply chain and board member; Sinan Ustunel, VP production; Reha Tepe, VP marketing; Serkan Buyukcan, VP R&D; Metin Ulku, architectural coatings mngr.; Terhan Temiz industrial/wood coatings mngr.; Gulay Dindoruk, thermal insulation mngr.

Betek Boya ve Kimya Sanayi AS, whose name is the combination of the first syllables of the Turkish words "Beton" (meaning "concrete") and "Teknoloji" (meaning "technology"), was founded in 1988. Betek entered the decorative paints industry in 1993 through its technological cooperation with DAW. This partnership became a milestone both for Betek and the Turkish paint industry. Betek was the first Turkish paint company to commence production with a European partner. Since 2001, Betek has been the market leader in the industry with its multi brand strategy which is being delivered to over 5,000 retail outlets. Today Betek's product facilities are some of the largest state-of-the-art plants in Europe and Betek supports its production power with its technology center founded in 2008.

36 Ennis Traffic Safety Solutions

Dallas, Texas/USA

www.ennistraffic.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1996

REVENUE: $400 million * (2010: 355mn)

MARKETS SERVED

* Traffic marking paint

KEY EXECUTIVES

Bryce Anderson, chairman; John Anderson, global director; John Midea, president and CEO; James McClennan, CFO, Andrew Liebert, VP, marketing; Scott Seeley, global marketing; Tony Turaso, technical director.

Ennis Traffic Safety Solutions is a global provider of pavement marking materials and traffic safety products. Headquartered in Dallas, Texas the company's traffic paint business recorded sales of approximately $400 million in 2011. Ennis operates 14 facilities worldwide including the U.S., Canada, the UK, Turkey, Italy and Australia. In 2011 Zaganite Industries Pty Ltd joined the Ennis family and continues to operate from its facility in Dandenong, Victoria, Australia. The operation in Dandenong is managed by Dominic lemma, a technical expert in the formulation of traffic paint. Also during the year, Ennis' traffic paint products were approved for sale and distribution by the Mexican government. Leading the Ennis team in Latin America is Alberto Merinos, marketing and sales manager for Latin America and the Caribbean.

37 Samhwa Paints Industrial Co. Ltd.

Seoul, South Korea

www.spi.co.kr

PUBLIC COMPANY

YEAR ESTABLISHED:1946

REVENUE: $379 million *

(2010: 333mn)

MARKETS SERVED

* Deco'ative coatings

* industrial coatings

* Marine and protective

* Auto refinish coatings

* Powder coaungs

KEY EXECUTIVES

Jang Yeon Kim, chairman and CEO; Ja Hyun Koo, vice president and CEO productior, Hak Heon Lee, vice president, management support; Ki Deuk Lee. senior managing director sales; Gyw Chul Lim, senior managing director technical; Bung lu Choi, director China.

Founded in 1946 Samhwa Paints makes a wide range of products from DIY paints to architectural paints, heavy-duty coatings, marine paints and special industrial coatings such as PCM coatings, car coatings, plastic coatings, UPE coatings, UV coatings and powder coatings. In 2011 Samhwa posted sales of S379 million. During the Year the construction of the Samhwa Research Institute in China was completed in Zhangjiagang Co., lid. and the Gwangju office of Samhwa Paints built a new office building at Yongbong-dong, Ruk-gu, Gwangju Metropolitan City. Also during the year the company set up a subsidiary in Vietnam in Bac Minh. This local subsidiary is expected to produce about 500 tons of paint annually, including paint for plastic products such as mobile phones and vacuum cleaners as well as paints used for covering high-quality structures.

38 3M

St. Paul, Minnesota/USA www.3m.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1902

REVENUE: $375 million * (2010: 350mn)

MARKETS SERVED

* Adhesives and sealants

* Pipe coatings

KEY EXECUTIVES

George Buckley, chairman, CEO and president; Joe Harlan, executive VP, electro and communications; Michael Kelly, executive VP, display and graphics; Jean Lobey, executive VP, safety, security and protection services; Moe Nozard, executive VP, consumer and office; Brad Sauer, executive VP; health care; Hak Cited Shin, executive VP, industrial and transoortation,

Dwring the year 3M unveiled its new Innovation Center in Dubai, United Arab Emirates. The opening of the Dubai center provides 31V1 with an expanded facility in the Middle East to better support customer needs across the region resulting in more cost-effective customer centric solutions created specifically for the region, in the region. Customer Technical Centers are unique to 3M around the world and serve as a mechanism for customer inspired innovation. The first of its kind in the Middle East region, the Dubai center offers potential customers, business partners, and research and development experts the opportunity to test a host of 3M's innovations. Located in Internet City, the center, which is LEED certified and environmentally friendly, is divided into 14 zones showcasing all of 3M's technology platforms, capabilities and products for the Middle East market.

39 Masashi Paint Co. Ltd.

Tokyo, Japan

www.musashipaint.com

PUBLIC CONPANY

YEAR ESTABLISHED: 1958

REVENUE: $354 million * (2010: 330mn)

MARKETS SERVED

* Plastic coatings

KEY EXECUTIVES

Shuhei Fukui, president; Shusaku Tornisawa, director; Yutaka Soma, director.

Musashi Paint Company Co., Ltd. manufactures and distributes coatings for household appliances, electronic devices, information technology devices and industrial products. It specializes in synthetic resin paints. The company provides touch feel, PRIR law adherent, water-based, UV, acrylic silicon, functional and special primer coatings, as well as coatings for molded plastics, laser etching and metal materialsin addition, it offers coatings For information/telecommunication devices, including mobile phones, laptop computers and digital cameras; coatings for household appliances, such as plasma/LCD televisions, END players, vacuum cleaners, refrigerators, dehumidifiers, air cleaners; and coatings for automobile devices, including navigation systems. Musashi Paint Company offers its products through dealers in Japan, Korea, Malaysia, Hong Kong, Taiwan, the United Kingdom and the U.S.

40 Noroo Paint Co. Ltd.

Anyang-Si, South Korea www.noroo.co.kr

PUBLIC COMPANY

YEAR ESTABLISHED: 2006

REVENUE: $352 million * (2010: 31 5mn)

MARKETS SERVED

* Architectural coatings

* Industrial coatings

* Automotive refinishes

Noroo Paint Co., Ltd. engages in the manufacture and sale of paints and coatings worldwide. Its products include architectural coatings, which comprise natural paint, general coatings, functional coatings and Decopia; waterproof and floor coatings; decorative coatings, such as lacquers, polyurethane paints, cracking paints, wood stain, and firekeeper; primer and topcoat heavy duty coatings; and industrial coatings, including metal coatings and pattern finishes. The company also offers coating equipment; and coatings for auto refinishes and plastic finishes, as well as coil coatings. Noroo Paint Co. was founded in 2006, is headquartered in Anyang-Si, South Korea and posted sales of $352 million in 2011. Architectural coatings account for 40 percent of sales while industrial coatings make up 16 percent and automotive refinishes 15 percent.

41 Teknos Group Oy

Helsinki, Finland

www.teknos.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1948

REVENUE: $344 million * (2010: 285mn)

MARKETS SERVED

* Architectural coatings

* Industrial coatings

KEY EXECUTIVES

Pekka Rantamaki, CEO; Soile Haavisto, financial director; Raimo Anjala, managing director.

Teknos Group Oy is the leading supplier of industrial coatings in Scandinavia with a strong position in retail and architectural coatings too. Teknos is one of Finland's largest family-owned businesses. Group companies operate in Scandinavia, Germany, the United Kingdom, Poland, Slovenia and Russia, and through a well-established network of agents and representatives in about twenty other European countries. In 2011, Teknos started local production of paints in China in Changzhou, in cooperation with a local partner. Also in 2011, Teknos opened a new sales office in Vietnam. The main client base for Teknos in Vietnam is local manufacturers of wood products for industry, such as joinery companies and furniture manufacturers. In Russia, the sales of joint venture Teknos Deko continued to grow and also saw a growth in market share. 2011 also saw the start-up of the new IFS ERP system that was deployed in Finland at the start of the year.

42 Fujikura Kasei Co. Ltd.

Tokyo, Japan

www.fkkasei.co.jp

PUBLIC COMPANY

YEAR ESTABLISHED: 1938

REVENUE: 5326 million * (2010: 298mn)

MARKETS SERVED

* Plastic coatings

* Architectural coatings

* Automotive coatings

KEY EXECUTIVES

Yoshiaki Hasegawa, chairman and CEO; Joji Washino, president and COO; Yuzo Saisu, senior managing director; Satoshi Yamashita, senior VP; Shigeru Takahashi, senior VP.

Fujikura Kasei offers coatings for plastics, which include automotive interior and exterior, automotive lightings, cosmetic containers and enclosures, electronic appliances, plastic hobby items and plastic sheets; architectural coatings, such as exterior and interior building materials, decorative items and housing equipment; and electronic materials. In 2008, Fujikura Kasei's U.S.-based operation, Fujichem, Inc., purchased 100 percent of Evansville, IN-based Red Spot Paint &Varnish Co., Inc. With sales of approximately $100 million, Red Spot is primarily active in the automotive coatings sector. Red Spots joint venture partners in Korea and the UK, as well as Red Spot's licensees and customers in South America, Australia., Europe, Singapore and China, further broaden Fujikura's global footprint to serve the global coatings for plastics market.

43 Carpoly Chemical Group

Jiangmen, Guangdong Province, China

www.carpoly.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1993

REVENUE: $325 million * (2010:311mn)

MARKETS SERVED

* Architectural and industrial

KEY EXECUTIVES

Qiining Qiu, chairman and president; Shuchao Cao, vice chairman of the board and group general manager; Youwei Xu, group executive deputy genera! manager, secretary of the board; Binwu Ye, marketing director; Daimin Wang, group deputy general manager and technical director; General division managers: Wenhua Zhao, furniture coatings division; Dewu Liao, decorative coatings, retial; Lide Xu, decorative coatings, project.

As China's coatings market continues to expand rapidly, domestic paint manufacturers like Carpoly Chemical Group are gaining more exposure on the world stage. Carpoly Group, founded in '1993, is today China's largest domestic coatings manufacturer with sales of $325 million in 2011. The Carpoly Group operates four regional companies in Guangdong, Sichuan, Shanghai and Hebei provinces. Architectural sales, including decorative wood coatings, accounted for 53 percent of revenue. Sales of furniture paint in the industrial segment accounted for 45 percent of sales. Despite the challenging economic environment, Carpoly maintained a double digital growth rate of 13 percent in 2011. In addition, Carpoly celebrated during the year the the national accreditation of its Technology Center. Also, Carpoly's Shanghai factory was successfully put into production, bringing it is closer to its customers in the East and North.

44 Kunsul Chemical Industrial Co. Ltd.

Pusan, South Korea

www.jebi.co.kr

PUBLIC COMPANY

YEAR ESTABLISHED: 1945

REVENUE: $308 million * (2010: 250mn)

MARKETS SERVED

* Decorative coatings

* Industrial coatings

* Marine and protective coatings

KEY EXECUTIVES

Sung Ho Hwang, chairman and CEO; Gyeong Tai Shin, president; Managing directors: Sang Kun Lee; Jae Hui Kim; Dong Hyeon Cho; Seung Hwan Shin.

Kunsul Chemical Industrial Co., Ltd. offers a range of products, including architectural coatings for concrete, plaster, slate and cement mortar surfaces, as well as for vehicles, machinery, buildings, glass and furniture; general industrial coatings for various applications, such as wood, steel furniture, electric home appliance, machinery, engineering plastics, steel products and decorative home appliance; wood coatings for furniture, general wooden materials, and musical instruments; and powder coatings for decoration and protection, interior use, home appliances, and architectural use. It also provides plastic coatings; marine and heavy duty protective coatings for various applications, including fuel oil tank, ballast water tank, bilge well, land, marine structure, deck, and paint for ship bottom, interior, and exterior; and automotive refinishes.

45 TOA Group

Bangkok, Thailand

www.toagroup.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1957

REVENUE: $300 million * (2010: 270mn)

MARKETS SERVED

* Architectural coatings

* Marine and protective coatings

KEY EXECUTIVES

Arsa Sarasin, honorary chairman; Prachak Tangkaravakoon, president; Motoo Horiguchi, senior executive VP; Rams Das Ahuja, executive VP.

TOA is the leading supplier of decorative coatings in Thailand with an estimated market share of 50 percent. The company manufactures products that cater to the mid-tier and premium-tier markets. The TOA Group of companies includes TOA Paint Thailand, which is TOA's l00 percent Thai-owned main base of operation; TOA-Chugoku Paint, a joint venture between TOA Paint Thailand and Chugoku Marine Paint; TOA Union Paint Thailand, a joint venture company with Japanese-based wood coatings producer Union Paint; TOA Vietnam; Shanghai-TOA Paint; and TOA Paint Malaysia. TOA's product portfolio includes the recently launched Ultra Premium Generation of coatings including Supershield with self cleaning acrylic technology; TOA 7 in, a pure acrylic elastomeric wall coating which is made from high quality elastomeric acrylic technology; and Supershield Duraclean, developed with advance acrylic technology under the company's Hygenic Formula which provides 20 times scrub resistance.

46 CIN Group

Maia, Portugal

www.cin.pt

PUBLIC COMPANY

YEAR ESTABLISHED: 1926

REVENUE: $293 million

MARKETS SERVED

* Architectural coatings

* Automotive refinish

* Industrial coatings

* Protective coatings

KEY EXECUTIVES

Antonio Serrenho, honorary chairman; Joao Seri enho, chairmam and CEO; Angelo Machado, member of board; Fernando Jorge Ferreira, CFO; Reinaldo Campos, marketing director; Technical di rectors: Joar) Machado, Filomena Braga, Manuela Azevedo, Jose Carlos Lopes.

CIN (Corporacao Industrial do Norte S.A.) is a Portuguese company that is the Iberian market leader for paint and coating products. The company was established in 1926 and is headquartered in. Mafia, None Region. In 2011 GIN generated $293 million in sales, of which more than 50 percent came from outside of Portugal (France, Spain, Italy, China, Angola and Cape Verde). 56 percent of sales were in architectural coatings; 28 percent industrial coatings; 11 percent protective coatings; and one percent automotive refinish. During the year GIN launched a new exterior paint capable of withstanding severe weather, night condensation and mold. Novaqua HD is the result of years of research and is presented as the first ever paint to come with a certificate guaranteeing its performance outside for a full seven years. Noviqua HD is a 100 percent acrylic, smooth. matt exterior paint and is available in hundreds of colors.

47 Shanghai Coatings Co. Ltd.

Shanghai, China

www.chinascc.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1915

REVENUE: $290 million * (2010: 255mn)

MARKETS SERVED

* Decorative coatings

* Automotive coatings

* Cod coatings

* Marine coatings

* Plastics coatings

* Industrial coatings

KEY EXECUTIVES

Situ Guoji, chairman; Huang Zniyong, general manaoer: Huang Youwei, executive vice general manager: Wu linglei, vice general manager; Yu Jianfeng, chief engineer.

Shanghai Coatings Co. Ltd (SCC) has 90 years of history since her predecessor Kai Lin Paint Plant, the first Chinese paint plant, was established in 1915. The company owns 13 manufacturing subsidiaries, two research institutes and six joint ventures ranging from coatings, dyes, pigments, auxiliary agents and fine chemicals. Shanghai Coatings has ranked in the top 500 in sales among Shanghai industrial companies for five years straight and is one of the top 10 enterprises in terms of results in the Chinese coatings industry. SCC also boasts China's first coatings brand--Winged Tiger coil coatings. The company also manufactures paint under the Yanjing brand. SCC paints are widely' used throughout China's industrial and civil fields. Sonic customers industrial customers include Volkswagen, General Motors' Buick, Metro lines, maglev train, Baosteel and Three Gorges.

48 Dunn-Edwards Corp.

Los Angeles, California/USA

www.dunnedwards.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1925

REVENUE: $285 million * (2010: 265mn)

MARKETS SERVED

* Architectural coatings

* Industrial coatings

KEY EXECUTIVES

Kenneth Edwards, CEO; Karl Alter goll, president and COO; Robert Hill, executive VP and CFO; Darlene Mitchell, VP and CI0; Monte Lewis, VP sales; Tim Bosveld, VP marketing

Dunn-Edwards, founded in 1925, operates more than 100 stores in five western states: California, Arizona, New Mexico, Nevada and Texas. It supplies architectural and industrial coatings, providing a complete line of paints and professional painting supplies to architects, designers, painting contractors, homehuilders and property managers in the Southwest; it also serves do-it-yourselfers, although professionals account for a majority of sales. During the year, Dunn-Edwards opened what it claims is the world's first LEED-certified paint manufacturing facility. Located in Phoenix, Arizona, the $40 million, 336,000-square-foot facility was custom designed to be "green" and efficient. This ultramodern building encompasses manufacturing, product development, quality control laboratories, a distribution center, retail outlet and office space and has gone on to receive various industry awards since its doors opened in subsequent months.

49 Flugger Group

Roedovre, Denmark

www.flugger.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1785

REVENUE: $284 million * (2010: 275mn)

MARKETS SERVED

* Architectural coatings

KEY EXECUTIVES

Soeren Peschardt Olesen, CEO; Paul Wulff, CFO: Claus Bjoern, group sales director; Steen Hoff, group supply chain director.

Flugger Group is one of Scandinavia's largest suppliers of decorative paint, wood stain, wallcoverings, paint tools and cleaning articles. Flugger Group is represented by Flugger shops in Denmark, Norway, Sweden, Iceland, Poland and China. There are more than 500 Plugger shops, of which more than 200 are owned by the company. Apart from this, its subsidiary DAY-system contributes with sales from 214 shops in Denmark, Norway and Sweden. The other daughter company, PP Mester Maling, has 41 shops in Denmark. The company has five factories, and the two main ones are in Kolding, Denmark and in Bollebygd, Sweden. Here Flugger produces paint, wood stain, fillers and chemical products. In Kolding it produces water-based paint, and it comes to an amount of 20 million liters per year. In Bollebygd Hugger produces around 24 million liters of both water-based and turpentine-based paint per year. With origins that date back to 1785, Flugger Group generated sales of $284 million in 2011.

50 Shinto Paint Co. Ltd.

Amagasaki, Japan

www.shintopaint.co.jp

PUBLIC COMPANY

YEAR ESTABLISHED: 1933

REVENUE: $278 million * (2010: 207mn)

MARKETS SERVED

* Automotive coatings

* Industrial coatings

* Automotive OEM

KEY EXECUTIVES

Harunobu Horibe, chairman; Akira Kubo, managing director and technical director; Ichiro Miyawaki, president; Minoru Aono, senior managing director.

Shinto Paint Co., Ltd. engages in the manufacture, processing and sale of paints, adhesives, pigments, synthetic fats/oils, fats/oils, and chemicals in Japan. In addition, the company designs, implements, and supervises painting work and other various construction work, as well as related technical supervision. Further, it engages in contracting of installation work for painting facilities; and related machinery equipment, tools, and devices, as well as design and supervision of such installation work. The company provides maintenance coatings for protection against rust and corrosion to nuclear power stations, chemical plants, petroleum refinery plants, water and sewage treatment plants, and paper mills, as well as large-sized steel structures, such as ships, drilling rigs, offshore platforms, and other ocean development plants. Shinto Paint Co. was founded in 1901 and is headquartered in Amagasaki, Japan and saw sales grow to $278 million in 2011.

51 JW Ostendorf

Coesfeld, Germany

www.jwo.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1948

REVENUE: $265 million * (2010: 251mn)

MARKETS SERVED

* Decorative coatings

KEY EXECUTIVES

Michael Ostendorf, manager; Gerald Schaefer, manager; Martin Friedrich, manager; Christoph Koch, director of finance.

JW Ostendorf GmbH & Co. KG (JWO) has been producing paints, varnishes, lacquers and enamels since 1948 for a variety of applications and recorded sales in 2011 of approximately $265 million. It has its affiliates in Great Britain, Poland, Austria, Czech Republic, Switzerland, France and Hungary. It has a production capacity of more than 400 million liters per annum and a staff of over 600 in both Germany and abroad. It operates an integrated production and logistics facility at its headquarters in Coesfeld where it produces paints, trim and stains in one of Europe's most modern paint factories. During the year JWO spun-off of its successful Signeo brand business into a separate company within the JWO group. The company also says it is the first and only paint manufacturer in Europe to be qualified by LGA in line with hygiene standards for the foodstuffs industry.

52 Yung Chi Paint & Varnish Mfg Co. Ltd.

Kaohsiung, Taiwan

www.rainbowpaint.com.tw

PUBLIC COMPANY

YEAR ESTABLISHED: 1951

REVENUE: $260,4 million * (2010: 187mn)

MARKETS SERVED

* Architectural coatings

* Marine coatings

* Industrial coatings

KEY EXECUTLVES

Te-Hsiung Chang, president; DS Chang, general manager; TJ Chang, vice general manager; Tien-Yung Chang, director; Tsung Te Han, managing director; H.L. Shen, general manager.

Yung Chi Paint & Varnish Manufacturing Co., Ltd. manufactures architecural coatings, heavyduty coatings, marine paints, coil coatings, can coatings, nuclear coatings and curtain wall coatings primarily in Taiwan. The firm also manufactures and sells fire-retardant and fire protection coatings. In 2009, the company's Malaysia Melaka factory started production for coil coatings. The company was founded in 1951 and is headquartered in Kaohsiung City, Taiwan and recorded sales of more than $260 million in 2011. In the architectural segment the company provides solvent-based acrylic paints, water-based cement mortar paints, dirt off exterior acrylic emulsion paints, water-based elastomeric paints, and water-based epoxy topcoats. Heavy duty coatings include epoxy-paints, ready-mixed paints, top-long paints and polyurethane paints.

53 Tiger Coatings

Wels, Austria

www.tiger-coatings.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1930

REVENUE: $260 million * (2010: 238mn)

MARKETS SERVED

* Powder coatings

KEY EXECUTIVES

Kurt Berghofer, CEO: Clemens Steiner, CEO; Reinhold Feiseisen, CFO; Christian Ebenberger, marketing director; Technical directors: Gerd Schlaget, Thomas Schmidt and Gerald Hemedinger

Tiger Coatings GmbH & Co. KG produces powder coatings for industrial applications. The company also develops and manufactures lacquers for the DIY market, as well as inkjet inks for OEM and industrial printing applications. Its powder coatings are used in architecture, steel structure, automotive, agricultural and construction, general industry, job shop, store fixture, furniture, IT and appliances, wood, glass, lighting, inkjet, cans and tubes, gaming, and sports and leisure applications. The company markets its products in Austria, Egypt, Brazil, China, Canada, Mexico, the U.S., Vietnam, Belarus, Bosnia and Herzegovina, Bulgaria, Denmark, Germany, India, Croatia, Latvia/Lithuania, the Netherlands, Poland, the Russian Federation, Switzerland, Serbia and Montenegro, Slovenia, Spain, South Africa, Taiwan, Thailand and Ukraine. Tiger Coatings GmbH & Co. KG was founded in 1930 and is based in Wels, Austria with manufacturing facilities in Austria, Egypt, Brazil, China, Canada, Mexico, the U.S. and Vietnam.

54 Rock Paint Co. Ltd.

Osaka, Japan

www.rockpaint.co.jp

PUBLIC COMPANY

YEAR ESTABLISHED: 1952

REVENUE: $255 million * (2010: 249mn)

MARKETS SERVED

* Automotive coatings

* Industrial coatings

KEY EXECUTIVES

Togo Utsumi, president, representative director; Fujio Nara, senior managing director; Yoshio Koike, executive dream.

Rock Paint Co. Ltd. offers automotive refinish paints, building paints, industrial paints and home use paints. The company is among the leading manufacturers of automotive refinish paints in Japan. Rock manufactures coatings in a wide range of colors, with an especially wide variety of pearls and metallics. These include popular brands such as its Panarock Mars 2K series, Rockace and Hirock. Rock Paint has recently introduced a one-package type base coat called Pro Touch as part of an effort to continually advance and improve its line of products. Responding to movements aiming to reduce levels of volatile organic compounds (VOCs) in paint products, Rock Paint set out early to develop waterborne automotive refinish paints. As a result, general sales for a product called Waterbase have been initiated. Rock Paint Co. was established in 1952 and is based in Osaka, Japan. The firm recorded sales in 20 I I of $255 million.

55 Kelly-Moore Paint Company

San Carlos, California/USA

www.kellymoore.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1946

REVENUE: $250 million * (2010: 235mn)

MARKETS SERVED

* Architectural coatings

* Industrial coatings

* 0EM coatings (non-automotive)

KEY EXECUTIVES

Steve Devoe, president and CEO; Mark Zielinski, VP of sales and business development; Mike Black, VP of store operations: Todd Wirdzek, VP of product development; Ryan Arakk, director of marketing;

In 2011, Kelly-Moore Paint Company, Inc. introduced Enviro Coat Reflective 1545, one of the industry's first commercially produced architectural coatings designed to reflect the sun's radiant heat, according to the company. This eco-functional, exterior 100 percent acrylic eggshell paint lowers external wall temperature, allowing homeowners and building operators to minimize air conditioning usage and save money on utility bills. When applied to vertical outside walls, Enviro Coat Reflective deflects a portion of the sun's radiant heat away from the building. Its infrared-reflective technology employs pigments preventing infrared radiant heat from absorbing into the film and wall thus keeping exterior walls cooler. This technology has been used in the roof-coating industry, but is now being applied to outside walls. Also in 2011 Kelly-Moore opened a new store in Paso Robles, Calif., its fourth store in the region.

56 Kikusui Chemical Industries Co. Ltd.

Nagoya, Japan

www.kikusui-chem.jp

PUBLIC COMPANY

YEAR ESTABLISHED: 1959

REVENUE: $234 million * (2010: 194mn)

MARKETS SERVED

* Architectural coatings

KEY EXECUTIVES

Togo Utsumi, president, representative director; Fuj Hara, senior managing director; Yoshio Koike, executive director.

Kikusui Chemical Industries Co. Ltd. engages in the production and sale of architectural coatings, specialty functional C materials, construction materials, and civil engineering materials. The company offers ceramics, building materials, paints and crushed natural decorative material sheets. In addition, it involves in the manufacture and sale of machinery and equipment. The company was founded in 1959 and is headquartered in Nagoya, Japan. Under the slogan, "Work in Harmony with Nature, Work for the Benefit of People," Kikusui manufactures water-based and organic-solvent-free architectural paints and uses its own methods to minimize drainage and waste generated during the production process. In addition, the company deals with natural paints from Germany and allergy-free paints from Sweden. One such product is Milltex5, which comes from environmentally progressive Sweden and are free of substances that can produce allergic reactions.

57 Pacific Paint (Boysen) Philippines Inc.

Quezon City, Philippines

www.boysenpaints.com.ph

PRIVATE COMPANY]

YEAR ESTABLISHED: 1953

REVENUE: $230 million * (2010: 200mn)

MARKETS SERVED

* Decorative coatings

* Industrial coatings

* Marine coatings

KEY EXECUTIVES

Willy Ong, president; Johnson Ongking, vice president Ruben Cueto, marketing manager; Romy Bautista, technical services manager; Catherine Ramirez, technical director.

Walter Neal Boysen founded Boysen Paints in Oakland, California/USA in 1926. After expanding the brand across the U.S., Boysen Paints was introduced to Asia in the 1960s. It has given Pacific Paints the license to manufacture its premium paint products. The growing market share in Asia and the Pacific, especially in the Philippine market, necessitated the creation of a fully integrated state-of-the-art manufacturing facility in Cavite, Philippines, said to be the most modern paint factory in Southeast Asia. In 2011, Atlantic Coatings, Inc. (AC1), contract manufacturer of Pacific Paint (Boysen) Philippines Inc., the leading architectural paint company in the country, further strengthened its green credentials with two environmental awards. The company was proclaimed Master Awardee for the Zero Basura Olympics 2009 and was third runner up in Mother Nature Award.

58 Renner Sayerlack

Cajamar, Brazil

www2.sayerlack.com.br

PRIVATE COMPANY

YEAR ESTABLISHED: 1968

REVENUE: 3225 million * (2010: 210mn)

MARKETS SERVED

* Wood coatings

* Marine coatings

KEY EXECUTIVES

Alexandre Cenacchi, chairman of the board

Renner Sayerlack S.A. manufactures and distributes wood finishing and marine coatings and paints. It is the largest and most specialized wood coating company in Latin America. Formerly known as Sayerlack, it changed its name to Renner Sayerlack S.A. in January 2001 after the merger of Tintas Renner and Sayerlack Industria Brasileira de Vernizes. The company was founded in 1968 and is based in Cajamar, Brazil. With sales estimated in the $225 million range, Renner Sayerlack claims to control about 50 percent of the Brazilian wood finishing market, as the largest player in the segment in Latin America. The company's primary wood finishes manufacturing facility is in Cajamar, Sao Paulo state, and it operates another in Minerbio, Italy. In 2007 PPG acquired the architectural and industrial coatings business of Renner Sayerlack.

59 Spraylat Corp.

Pelham, New York/USA

www.spraylat.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1936

REVENUE: S220 million * (2010: 205mn)

MARKETS SERVED

* Automotive coatings

* Powder coatings

* Liquid coatings

* Sign coatings

KEY EXECUTIVES

Raymond Chlodney, president

Spraylat Corporation is a global specialty coatings company based in Pelham, N.Y. A privately held corporation founded in 1936, Spraylat provides both coating products and process technologies to a diverse range of industry applications worldwide. Spraylat is organized into four separate business units: Liquid Coatings, Powder Coatings, Conductive Coatings and the Mirror Coatings business units. The Liquid Coatings business unit incorporates Spraylat's Automotive Group, the Liquid Specialties Group, the Sign Coatings Group along with its One Shot/Chromatic Group. Spraylat's global operations include locations in North America, Europe and Asia. Spraylat also is supported in selected business units through regional agents or distributors. The company's product highlights include Shot's Field Master coatings, high quality, single stage, isocyanate-free coatings in a 2.8 VOC system.

60 Inver Spa

Bologna, Italy

www.inver.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1934

REVENUE: $217 million * (2010: 170mn)

MARKETS SERVED

* Powder coatings

* Industrial coatings

* Architectural coatings

* OEM coatings (non automotive)

KEY EXECUTIVES

Giovanni Domenichini, group chairman and CEO; Matteo Roversi, group general manager; Mauricio Vallada, group sales and marketing, powder; Corrado Minghetti, business unit liquid; Christian Lucano, group communications; Marco Lelli, technical director, powder; Cristina Ducci, technical director, liquid.

Inver Spa is engaged in the manufacture of industrial liquid and powder coatings with 2011 sales revenue of $217 million. The sale of powder coatings made up 70 percent of Inver's sold quantities with 10 percent of that attributable to achrichectural powder sales. Liquid industrial coatings sales generated 20 percent, while liquid architectural and non-automotive OEM segments each contributed ten percent each. Back in 2008 Inver acquired Becker Powder Coatings' four European production plants located in France, UK, Poland and Italy. This acquisition doubled the scale of Inver's powder business and made it the fourth largest producer in the European powder market. Inver operate five production sites and three subsidiaries. Inver Spa operates five manufacturing facilities and is based in Bologna, Italy.

61 Tambour Ltd.

Nethanya, Israel

www.tambourpaints.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1936

REVENUE: $215 million * (2010: 176mn)

MARKETS SERVED

* Architectural coatings

* Industrial coatings

* Powce' coatings

KEY EXECUTIVES

Michael Dayan, CEO; Eitan Weizman, vice president, marketing; Yacov Mor, director R&D.

Founded in 1936, Tambour is the largest Israeli paint manu-facturer. Tambour's sales reached $215 million in 2011 The firm operates six production facilities in Israel for architectural paints, industrial paints powder coatings, printing inks, acrylic emulsion, resins and other coatings. Production capacity is approx-imatelv 90 million liters per year Tambour said it has been watching trends not only Nw color forecasting, but also for the research and development of new paint products, especially in the category of faux finishes and special effects, in the last four years Tambour successfully launched three different products in the faux finishes category--Metallic Suede, Safari, Cashmere and last but not least Bereshit and (naan. Tambour said these have proven to be very popular within the market, resulting in excellent sales growth iii this product category. In light of the success of this methodology in the decorative market, Tambour decided to introduce it to the industrial market as well and created a unique cooperation with Klil Industries--the leading company in Israel for Aluminum framings.

62 Loser Holding AG

Arbon, Switzerland

www.looserholding.ch

PUBLIC COMPANY

YEAR ESTABLISHED: 1932

REVENUE: $213 million * (2010: 190mn)

MARKETS SERVED

* Architectural coatings

* Industrial coatings

* Automotive OEM

* Auto refinish

* Wood coatings

* Non-stick coatings

* Packaging coatings

KEY EXECUTIVES

Thomas Lozser CEO; Pascal Rentzmann group controller.

The Coatings Group of Arbon, Switzerland-based Looser Holding AG in 2011 recorded sales of $21.3 million, the majority of which came from sales of wood coatings, which represents approximately 54 percent of total coatings revenue. The approximate percent of sales for the other segments include: packaging coatings 18 percent; non-stick/low-friction coatings 15 percent; and industrial coatings 13 percent. The Coatings Division is home to the Treffert Group, Feyco Group, 1LAG Group, Schekolin AG and Feycolor Group who make coating for wood, plastic, metal, stone, glass etc. for industrial and commercial use. These companies operations are spread throughout Switzerland, Germany, Austria, the rest of Europe, China, South East Asia and the United States. The Coatings Division employs roughly 600 personnel at its nine production facilities and laboratories around the world where now over 60 percent of their products are solvent-free.

63 Grebe Group

Weilburg, Germany

www.grebe-group.com

DRNATE COMPANY

YEAR ESTABUSHED: 1936

REVENUE: $200 million * (2013: 180mn)

MARKETS SERVED

* Industrial coatings

* OEM coatings

(non-automotive)

KEY EXECUTIVES

Helmut Taupe, CEO Grebe Group; N Manfred Becker, management board; Frank Glaser, management board; Tim Rand, Weilburger Coatings; Uwe Diener, marketing director.

The Grebe Group recorded sales of approximately S200 million in 201 I. The firm's coatings business can be broken down into the following segments: Industrial coatings, which accounted for roughly 40 percent of sales; non-automotive OEM applications, which accounted for roughly another 40 percent of revenue; and lastly, rail and defense applications make up the remaining 20 percent of revenue for the year. For household articles the firm offers Greblon Non Stick coatings and decorative, temperature-resistant coatings. For the stove industry it offers high-temperature resistant coatings. For general industry applications Grebe offers coating systems for metals, plastics and glass in applications such as sewage pipes, household appliances, rail vehicles, mobile phones and defence technology. The group operates facilities in Germany, UK, Italy, Poland, China, Hong Kong Indonesia, India and Japan.

64 Asahipen Corporation

Osaka, Japan

www.asahipen.jp

PUBUC COMPANY

YEAR ESTABLISHED: 1940

REVENUE: $192 million * (2010: 176mn)

MARKETS SERVED

* Onshore coatings

* Marine coatings

* Automotive coatings

* Decorative coatings

* Achesives

KEY EXECUTIVES

Takeshi Tanaka, president and chairman.

Asahipen Corporation engages in the manufacture and sale of various paints and coatings, painting tools and wallpaper products in Japan. The company offers water base, oil base, anti-rust, spray, gloss varnish, wood, hobby craft and business paints. Asahipen Corporation markets its products through dealers, government agencies, and other outlets in China, Hong Kong, Taiwan, and southwestern Asia. The company was formerly known as Asahi Paint Company and changed its name to Asahipen Corporation in 1965. Asahipen Corporation was founded in 1940 and is headquartered in Osaka, Japan. Asahipen Groups are organized into many paint manufacturing subsidiaries including Asahipen Corporation, Daiho Tokyo Inc., Asahipen America Inc., and in the field of UV finishing it operates Trust Inc.

65 Taiho Paint (China)

Dongguan, China

www.taihopaint.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1992

REVENUE: $189,046 million

MARKETS SERVED

* Architectural and decorative coatings

* General industrial and industrial maintenance

* Wood coatings

KEY EXECUTIVES

Chen Ho Sheng, chairman; Tochiaki Ogasawara, president; Chen Chun Hua, general manager; Huang Jung Chi, chief facility officer; Chang Cheng Hisen, vice general manager, Huang Chien Hua, vice general manager.

Taiho Paint (China) includes Taiho Paint (Dongguan), Taiho Paint (Shanghai), Taiho Paint (Japan) and Taiho Paint (Taiwan). Together these operations generated revenue of nearly $190 million in 2011. The largest of these operations is in Dongguan, which also serves as the company's headquarters and employs 1,132 people. Shanghie employs 218, Japan 60 and Taiwan 30. General industrial and industrial maintenance, inlcuding wood coatings, make up 73 percent of revenue while the remaining 27 percent is attributed to architectural and decorative coatings sales. In 2011 Taiho Paint (Dongguan) invested approximately $2 million to expand production capacity by 50,000 tons. After implementation of the this increase, total production capacity for all of Taiho Paint's operations is expected to grow past 200,000 tons per year.

66 Tohpe Corporation

Sakai City, Japan

www.tohpe.co.jp

PUBLIC COMPANY

YEAR ESTABLISHED: 1915

REVENUE: $189 million * (2010: 176mn)

MARKETS SERVED

* Onshore coatings

* Marine coatings

* Automotive coatings

* Decorative coatings

* Adhesives

KEY EXECUTIVES

Tsutomu Kobayashi, president; Kazutami Kato, vice president; Flideki Kimura, managing director; Yukio Takeuchi, executive director.

Tohpe Corporation is a Japan-based manufacturer that supplies paints and other chemical products. Its paints include synthetic resin paints, lacquers, water-based paints, oil-based paints and thinners. The company's chemical products include synthetic resin adhesive processing agents and synthetic rubber. Additionally, it is involved in the paint related construction activities. The company has 12 subsidiaries and five associated companies. Its offers architectural coatings, exterior paints, steel coatings, concrete protective coatings, marine paints, industrial paints and road paints. In addition, it involves in exterior painting contract and building construction works, as well as in the sale of paint-related equipment. The company was founded in 1915 and is headquartered in Sakai City, Japan.

67 Industrias Titan S.A.

Barcelona, Spain

www.titanlux.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1917

REVENUE: $185 million * (2010: 168mn)

MARKETS SERVED

* Decorative coatings

* Industrial coatings

* Marine coatings

* Powder coatings

* Fine arts materials

KEY EXECUTIVES

Jose Farres Pere, CEO; Jaime Carbonell Petit, financial general manager; Antonio Vilaseca Martinez, technical director; and Jose Fernandez, manager for powder coatings.

Since it was founded in 1917 in Barcelona, Industrias Titan has produced paints, enamels, varnishes, powder coatings, colors for fine arts and handicrafts, as well as ancillary products. Its present installations have a total area of 120,000 square meters and are located in El Prat de Llobregat, which is within the metropolitan area of Barcelona. It has fourteen commercial delegations, six production plants in Spain, one in Portugal and one in Morocco. In recent years Industrias Titan has focused its efforts on making its products more environmental friendly, right through from product conception to the end user stage. Many of its products have been awarded with the European Ecological Label. The company recently launched Titan Luxoplast Powder Fillers. The firm also launched a new interior DIY product, Titan Tile Enamel.

68 Whitford Corporation

Elverson, Pennsylvania/USA

www.whitfordww.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1969

REVENUE: $175 million * (2010: 165mn)

MARKETS SERVED

* Industrial coatings

* Automotive coatings

* Powder coatings

* Houseware coatings

* Electrical component coatings

* Non-stick coatings

* Packaging coatings

KEY EXECUTIVES

Dave Willis, president; Mike Millet COO: Michael Coates, worldwide industry manager; Leonard Harvey, worldwide technical director; Marketing directors: Tony Weir and Joan Eberhardt; Technical directors: Leornard Harvey and Kurt Mecray.

Whitford Corporation is a manufacturer of one of the world's largest line of fluoropolymer coatings. Whitford's story began in 1969 when the founders created its first product--Xylan 1010--which remains one of the company's most popular products today. The firm's wide range of products serve the industrial, automotive, powder coatings, houseware and electrical component markets. Whitford operates nine manu-facturing facilities worldwide in the U.S., the UK, Brazil, India, China, Singapore and Italy. In 2011 Whitford opened its factory in Bangalore, one of India's fastest-growing and most dynamic cities. On the new technology front, Whitford has broken new ground with its recently launched Xylan HB, which the company says answers the problem of achieving good film integrity at film thicknesses over 25 microns, or one milliliter.

69 ICA Group

Civitanova Marche, Italy

www.icaspa.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1971

REVENUE: $170 million * (2010: 150mn)

MARKETS SERVED

* Industrial wood coatings

KEY EXECUTIVES

Alessandro Bascelli, export manager: Lorenzo Lavarini, area manager: Federico Bastianelli, area manger; Sancro Pariccia, macketing director; Pierro and Fabio Paniccia, technical directors.

0n the heels of its launch of the My Lab system, designed to meet the needs of designers and architects for all-new color combinations, ICA Group unveiled in 2011 the My Gloss system. The new system was conceived to fulfill the increas-ingly stringent requirements of the furniture sector, which are based on the need to achieve high-quality gloss coatings using cycles that have low levels of environmental impact. The final lacquered gloss effects of the My Gloss system can he obtained both with colored base coats and with transparent gloss topcoats, and even directly with pigmented gloss topcoats. Specifically, the My Gloss system is composed of versatile products for the preparation of the base surface such as primers, fillers and UV intermediates with 100 percent solid residue. Alongside these, there are water-based epoxy base coats.1CA says the My Gloss system make it possible to reduce VOCs released into the atmosphere during application by more than 90 percent.

70 NOF Metal Coatings Group

www.nofmetalcoatings.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1974

REVENUE: $162 million * (2010: 159mn)

MARKETS SERVED

* Corrosion protectior coatings

KEY EXECUTIVES

Mr. Poulet, CEO, Europe; Mr. Nagura, CEO, Japan; Mr Masuda, CEO, USA; Mr. Ros, sales and marketing director, Europe.

NOF Corporation is a leading Japanese chemical company and the holding company of NOF Metal Coatings Group, which includes NOF Metal Coatings Europe (Creil, France); NOE; Metal Coatings North America (Chardon, Ohio); NOF Metal Coatings Asia Pacific (Kawasaki, Japan); NOF Metal Coatings China (Shanghai); NOF Metal Coatings Korea (Seoul); NOF Metal Coatings South America (Sac) Paulo, Brasil). All together NOF Metal Coatings Group generated sales of $ 167 million in 2011. The group is primarily engaged in the manufacture of corrosion control coatings for the automotive OEM segment, which was responsible for 90 percent of group revenue. In November 2011, the company opened in France what it says is the first training center in Europe dedicated entirely to zinc flake anti-corrosion technology. Specific training sessions have been set up including, corrosion protection mechanisms, protection principles, application processes, quality control, tribology etc.

71 Boero Group

Genoa, Italy

www.gruppoboero.it

PUBLIC COMPANY

YEAR ESTABLISHED: 1831

REVENUE: $166 million * (2010: 16Omn)

MARKETS SERVED

* DECORATIVE coatings

* Marne coatings

* Yacht coatings

KEY EXECUTIVES

Andreina Boero, president; Cristina Cavalleroni. vice president; Giorgio Rupnik, CEO; Olga Bottaro, technical director; Managers: Claudio Stringara, architectural and decorative; Massimo Bonarra, yachting; Niccolo Ballerini, marine.

Boero Group is Italy's paint and coatings leader in the markets its serves. In 2011 the group reported revenue of S 166 million. The firm's business is divided into three segments. Architectural and decorative coatings generated 70 percent of the group's revenue last year while yacht coatings were responsible for 15 percent of the revenues with the marine coatings segment was responsible for the remaining '15 percent. Architectural and decorative paint brands in the firm's portfolio include Boero Colori; Rover Attiva; and Grandi Superfici. Yacht brands include Boero Yacht Paint; Veneziani Yachting; and Attiva Marine. The marine category offers the Boat brand. Boero Group operates two manufacturing facilities. Boero recently introduced Rovertherm coat systems for energy efficiency in building and it also launched a water-based wood coatings range.

72 Natoco Co. Ltd.

Miyoshi, Japan

www.natoco.co.jp

PUBLIC COMPANY

YEAR ESTABLISHED: 1948

REVENUE: $165 million * (2010: 140mn)

MARKETS SERVED

* Architectural coatings

* Industrial coatings

KEY EXECUTIVES

Kenji Kasuya, president representative director: Susumu Kawakami. sentor managing director; Yutaka Yamamoto, director of business administration and director.

Natoco Co., Ltd. engages in the manufacture and sale of fine chemicals arid paints. It offers synthetic resin paints and inks. The company primarily provides coatings for metal, building and other functional materials, as well as related equipment. It also engages in the transportation of the industrial waste. The company was founded in 1948 and is headquartered in Miyoshi, japan and operates in three business segments. The paint segment is involved in the manufacture and sale of synthetic resin paints, thinners and paint-related products. The fine chemical segment manufactures and sells chemical products such as film-use coating materials, as well as fine particles for liquid crystal displays (LCDs), among others. The others segment is engaged in the collection and transportation of industrial waste products. Naroco has two subsidiaries and one associated company.

73 Yasar Coating Group

Izmir, Turkey

www.dyo.com.tr

PRIVATE COMPANY

YEAR ESTABLISHED: 1927

REVENUE: $165 million * (2010: 155mn)

MARKETS SERVED

* Construction paints

* Industrial paints

* Furniture paints

* Automotive paints

* Marine paints

KEY EXECUTIVES

Selcuk Yasar, president of Yasar Holding; Hasan Denizkurdu, CEO.

Dyo Boya, dates back to the opening of a paint shop in Seritciler Carsisi by Durmus Yasar in 1927. Turkey's first paint was produced by Yasar in 1941 and was followed with the opening of the country's first and then only coatings factory in 1954. A member of Yasar Holding, Yasar Coatings Group's five companies led by Dyo Boya serves the market with 1,000 different products. Under the brand names Dyo and Dewilux, Yasar Coatings Group employs about 1,100 people and exports its products to 40 countries. The group's export markets are located primarily in Central Asia, the Middle East, Europa and Russia. The company is active in the decorative, marine and industrial paints sectors as well as car refinishes, furniture paints and lacquers.

74 Chokwang Paint Co. Ltd.

Busan, South Korea

www.chokwangpaint.co.kr

PUBLIC COMPANY

YEAR ESTABLISHED: 1947

REVENUE: $151 million * (2010: 133mn)

MARKETS SERVED

* Architectural coatings

* Wood coatings

* Industrial coatings

* Powder coatings

* Automotive refinishes

KEY EXECUTIVES

Dae-Eun Lee, president and CEO: Ha-Ok Kim, managing director of business planning division; He-lin Moon, chief of management team and director: lae-Hong Park, managing director of research institute; Sung-Ho Yang, senior managing director of management division.

Chokwang Paint Limited manufactures paint products and coatings in Korea. Its products include architectural paints, interior paints, floor coatings and water floor paints, wood coatings, industrial coatings, plastic coatings and auto refinish coatings, powder coatings, heavy-duty coatings, and DIY paints. In addition, Chokwang provides a speed color system to each dealership it operates through, which can mix colors at customers request within three minutes with an automatic color mixer controlled by a computer. The company was formerly known as Chokwang Co., Inc. and subsequently changed its name to Chokwang Paint Limited. Chokwang Paint Limited was founded in 1947 and is headquartered in Busan, South Korea.

75 Diamond Vogel Paints

Orange City, IA

www.diamondvogel.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1926

REVENUE: $150 million * (2010: 140mn)

MARKETS SERVED

* Architectural coatings

* Industrial coatings

* Heavy duty coatings

* Traffic coatings

KEY EXECUTIVES

Drew Vogel, president and CEO; Doug Vogel, vice president, decorative; Mark Vogel, vice president, industrial.

Diamond Vogel Paints is a family-owned, Midwestern-based paint manufacturer and retailer headquartered in Orange City, IA. The company operates seven manufacturing facilities an over 80 service center outlets. The company is a provider of liquid and powder coatings for industrial OEM applications, architectural paints for commercial and homeowner applications, and heavy-duty protective coatings for industrial maintenance applications. During 2011, Sciessent, creator of naturally occurring silver-based antimicrobial brand Agion partnered with Diamond Vogel to offer the Peridium Powder Coatings line. Agion technology inhibits the growth and propagation of bacteria on the surface of a product, adding an important layer of product protection to equipment and furnishings coated with the Peridium powder coating line.

76 JSC Russian Coatings

Yaroslavl, Russia

www.ruskraski.ru

PRIVATE COMPANY

YEAR ESTABLISHED: 1838

REVENUE: $146 million * (2010: 140mn)

MARKETS SERVED

* Architectural coatings

* Automotive OEM coatings

* Industrial coatings

* Automotive refinishes

* Powder coatings

KEY EXECUTIVES

Abramov Valeriy, CEO; Savelyev Philipp, director of economics; Kolomichev Mix-hail, technical director; Segment managers: Yakovlev Nicolay, decorative and building materials; Klassen Vladislav, automotive OEM; Lornakin Vyatcheslav, car refinish; Abramian Grigory, industrial materials; Kotov Sergey, powder materials.

Dwring 2011 Russian Coatings experienced positive growth and recorded sales of $146 million. After 2009, Russian Coatings has been progressively increasing its volumes of production and sales. In 2011, the sales volume growth amounted to 13.8 percent while production increased by 6.5 percent in tonnage. The decorative and construction business managed to reach seven percent growth due to the company's increase of the water-based materials. In 2011, the decorative and construction business, Yaroslayskie Kraski Association, signed an agreement with DuPont on the right to use the Teflon trademark in the Russian Federation. As a result of this agreement, Russian Coatings used the Teflon surface protector technology to create and launch Brite Hausweiss acrylic paints.

77 Kapci Coatings

Port said, Egypt

www.kapci.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1985

REVENUE: $143 million

MARKETS SERVED

* Automotive refinish

* Decorative paints

* Wood finishes

KEY EXECUTIVES

Mohamed Mohamed Ahmed ElSayed, CEO; Amr Mohamed EI-Sayed, commercial director; Lotfy Hassan ElBadrawy, R&D director; Mohamed Mohamed EI-Sayed, supply chaing director.

The company was founded in 1985 under the name Kantam Paints and Chemical industries specializing in car refinish paints. In 2002 the company opened its current headquarters located in Port-Said and chanced its name to Kapci Coatings. In 2011 Kapci generated revenue of $143 million. Car refinishes accounted for 51 percent of sales; architectural and decorative coatings made up 32 percent; and wood finishes accounted for the remaining 17 percent. Kapci Coatings' producdon facility is located on 210,000 square meters of space where the company has an annual production capacity of roughly 80,000 tons per year. The company is consistently the number one paints producer in Egypt by turnover. Kapci Coatings is currently exporting its paint products to more than 42 countries around the world. In addition, it has established four branches in China, India, Brazil and the UAE to extend its global reach.

78 Quest Specialty Chemicals

Menomonee Falls, WI/USA

www.questsc.com

PRIVATE COMPANY

YEAR ESTABLISHED: 2001

REVENUE: $141 million * (2010: 113mn)

MARKETS SERVED

* Automotive refinish

* Aerosol paints

* Industrial paints

* Roof coatings and systems

KEY EXECUTIVES

Doug Mattscheck, CEO and president; Marcos Mijia, VP finance and admin., secretary and treasurer; Kelly Mack, marketing manager; Kim Bistomowitz, marketing coordinator, Antony Modarressian, technical director, coatings div.; Steve Heinje, technical director, constuction div.

Quest Specialty Chemicals is a leader in the specialty coatings industry providing high performance solutions that protect, preserve, repair and restore the assets of its companies involved in the aerospace, architectural, automotive, construction, industrial, marine and transportation industries through its two divisions: Quest Specialty Coatings and Quest Construction Products.The coatings division includes: Raahe Company; Matrix System Automotive Finishes; Z-Line Industrial Finishes and MRO Finishes; Zolatone; and Patriot Paint. The construction products division is made up of United Coatings; HydroStop; and Streetbond. In July 2011 the construction division acuired Integrated Paving Concepts. In October 201 1 the coatings division acquired Patriot Paint. Together QSC's portfolio of coatings companies generated $141 million of revenue in 2011.

79 Cloverdale Paint Inc.

Surrey, British Columbia, Canada

www.cloverdalepaint.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1933

REVENUE $135 million * (2010: 125mn)

MARKETS SERVED

* Decorative coatings

* Industrial coatings

* Wood finishes

* Marine coatings

KEY EXECUTIVES

Charles Mordy, CEO; Alex Orociy, COO; Martin McKenna, marketing director and segment manager for decorative and industrial coatings; Larry Lozinski, technical director; Segment managers: Tim Vogel, wood finishes; Brian Carpenter, marine coatings.

Cloverdale Paint maintains more than 100 retail stores and a network of dealer outlets across Western Canada and the Pacific Northwest. The firm manufactures architectural and industrial maintenance products. Directly and through subsidiary companies in Calgary, Alberta (Far-go Paint Inc.) and Portland, OR (Rodda Paint Company), Cloverdale operates manufacturing plants in Surrey, Portland, Winnipeg, Edmonton and Calgary. In terms of acquisitions, Cloverdale most recently bought Guertin Coatings of Winnipeg, Manitoba, Canada, which produces liquid and powder industrial coatings, resins, sealants and adhesives in a 78,000 square foot facility in Winnipeg.

80 Atomix Co. Ltd.

Tokyo, Japan

www.atomix.co.jp

PUBLIC COMPANY

YEAR ESTABLISHED: 1937

REVENUE: $133 million

MARKETS SERVED

* Floor coatings

* Roof coatings

* Swimming pool coatings

* Traffic paints

KEY EXECUTIVES

Kazuyuki Kobayashi, director and president; Koichi Kita, managing director and executive manager of administration.

Atomix Co. Ltd. manufactures various paints in Japan. It offers floor and roof coatings, waterproofing materials, swimming pool coatings, traffic and anti-skid paints, paint for mapping systems, and paint to protect road structures from deterioration. The company was founded in 1937 and is headquartered in Tokyo, Japan.

81 Origin Electric

Tokyo, Japan

www.origin.co.jp

PUBLIC COMPANY

YEAR ESTABLISHED: 1938

REVENUE: 5130 million * (2010: 121mn)

MARKETS SERVED

* Synthetic resin paints

* Coatings for digital devices

KEY EXECUTIVES

Toshio Kashiwagi, president and director; Minoru Fujisawa, managing director and general manager of coating operations division.

Origin Electric Co., Ltd. operates in three segments: Electronics, Mechatronics and Chemitronics. The Chemitronics division is supported by metal surface treatment and surface plating technologies as well as by Origin's long history of research and development in the fields of electronics and coating materials. Energy-saving measures jointly developed with other engineering groups have resulted in developments being achieved in the field of synthetic resin paints, which have attracted attention both domestic and abroad as being environmentally friendly. The company operates primarily in Japan, as well as internationally in Taipei, Hong Kong, the U.S. and China. Origin began developing paints in 1947 as a part of its surface processing research efforts creating highly functional paints including paints used for plastic substrates, water-based paint/TX-free paint and paints used for plated nonferrous metals. Applications include automobile interior and exterior parts, cell phones and computers.

82 Empils Ltd.

Rostov-on-Don, Russia

www.empils.ru

PRIVATE COMPANY

YEAR ESTABLISHED: 1991

REVENUE: 5127 million * (2010: 144bn)

MARKETS SERVED

* Decorative coatings

* Industrial coatings

KEY EXECUTIVES

Victor Stolbchenko, general manager; Roman Setin, general manager's first deputy; Vadim Zaytsev, sales manager and decorative coatings segment manager; Dmitriy Altukhov, marketing manager; Oleg Dyakov, industrial coatings segment manager.

With sales of $127 million in 2011, Empils is Russia's second-largest domestic manufacturer of paints and coatings. The majority of Empils' revenue is generated in the decorative coatings segment (-97 percent). The remaining sales come from industrial coatings operations. The company markets the following brands on the Russian market: Empils industrial coatings; Rastsvet alkyd-based decorative coatings; Oreol alkyd-and water-based decorative coatings; Oreol Titan special alkyd-based coatings for metal; Oreol Garant water-based coatings for professional use; and Empils Krona alkyd-and water-based coatings for wood protection. Empils operates one manufacturing facility in its headquarters city of Rostov-on-Don. During the year, Victor Srolbchenko was appointed the general manager of Empils,

83 Tnemes Company, Inc.

Kansas City, Missouri/USA

www.tnemec.com

PRIVATE COMPANY

YEAR ESTABLISHED: 1921

REVENUE: $125 million * (2010: 115mn)

MARKETS SERVED

* Water tank coatings

* Wastewater coatings

* Industrial coatings

* Floor coatings

* Architectural coatings

KEY EXECUTIVES

Peter Cortelyou, president and CEO; Chase Bean, executive VP; Terry Wallace, VP, sales; Mark Thomas, VP, marketing; Toe Davis, VP, technical service; Segment managers: Doug Hansen, water tank coatings; Vaughn O'Dea, wastewater coatings; Gary Zinn, industrial coatings; Joe Schmit, Stratashield floor coat. ings; John Miller, architectural coatings.

Since 1921, Tnemec Company Inc. has been a leading manufacturer of high-performance architectural and industrial coatings that protect a wide range of substrates and enhance aesthetics. From water tanks and treatment plants, to manufacturing plants, industrial facilities and specialty architectural buildings, Tnemec coatings can be found protecting virtually all types of structures and buildings. Tnemec operates three manufacturing facilities in the U.S. in North Kansas City, MO, Baltimore, MD and Garland, TX. It generated roughly $125 million in sales in 2011. All Glass Armor epoxy linings for aboveground storage tanks (ASTs) were renamed Tank Armor following the purchase of the 100 percent solids thick-film technology from Bridgeport Chemical by Tnemec during the year. Tnemec is the sole owner of this technology.

84 PACHIN

Cairo, Egypt

www.pachin.net

PRIVATE COMPANY

YEAR ESTABLISHED: 1958

REVENUE: 5119 million

MARKETS SERVED

* Decorative paints

* Industrial paints

KEY EXECUTIVES

Eng. Mohey Abdel-Razek, CEO; Eng. Mohey El Din, managing director.

Since its beginnings in 1958, Paints and Chemical Industries (PACHIN) has been a pioneer in the Egyptian paint and coatings industry. Its core business is the production of various types of architectural and decorative coatings, industrial paints, printing inks and alkyd resins. In 2011 PACHIN reported revenue of $119.3 million. The company says it is the market leader in the Egyptian decorative paints market with a 41 percent share. PACHIN maintains a strategic alliance with the AkzoNobel in which PACHIN is licensed to manufacture and sell various products on behalf of AkzoNobel under the Dulux trademark. Recently PACHIN concluded an agreement to be the sole distributor of Chugoku Marine Paints in Egypt. PACHIN also has a strategic alliance with NovaColor, a leading Italian manufacturer of decorative products.

85 Ace Hardware Corp.

Oakbrook, Illinois/USA

www.acehardware.com

PUBLIC COMPANY

YEAR ESTABLISHED: 1926

REVENUE: $115 million * (2010: 110mn)

MARKETS SERVED

* Architectural coatings

KEY EXECUTIVES

Ray Griffith, president and CEO: Dave Ziegler, chairman.

For its first 50 years in business, Ace was privately held. In 1976, Ace became a retailer-owned cooperative. Each store is independently owned and operated by local entrepreneurs. Today, Ace is the largest retailer-owned cooperative in the hardware industry in terms of wholesale and retail sales and strength of the brand. Ace's 4,600 stores in all 50 states and more than 60 countries generate annual retail sales of approximately $12 billion. Headquartered in Oak Brook, Illinois, Ace currently operates 14 distribution centers in the U.S.-and one in Shanghai, China. Ace employs approximately 4,500 corporate team members worldwide and has four regional offices, located in Raleigh, North Caroline; Atlanta, Georgia; Denver, Colorodo; and Woodridge, Illinois. The Ace Paint division, which sells architectural coatings through its retail locations, generated revenue of roughly $115 in 2011. During the year Ace Paint launched launched its first paint and primer in one--Clark + Kensington.
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Author:Wright, Tim
Publication:Coatings World
Geographic Code:9CHIN
Date:Jul 1, 2012
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