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NewswireTODAY - /newswire/ -
Kgs, Lyngby, Denmark, 2018/10/01 - We’re pleased to announce that leading German paint manufacturer J.W. Ostendorf (JWO), including Renaulac (France) and FLT Handel & Service, are now officially part of the Hempel Group, with immediate effect - JWO.com / Hempel.com.
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Hempel (hempel.com) recently received both the German and UK authority’s formal approval to acquire 65 per cent of JWO. We haveclosed the deal on 27 September 2018. The joint venture is now official.
Henrik Andersen, Group President & CEO, says: “I would like to give a warm welcome to our 750 new colleagues in Hempel. One of the things that has brought us together is the shared passion for serving our customers. We’re nothing without our customers, and we must be everything to our customers. It means a lot to me that our existing and new customers will see us as their closest partner. Having JWO as part of the Hempel family, we’re one step closer to reaching this goal.”
The closing of the deal means that Hempel can now create a new region, known as Decorative Europe. UK-based Crown Paints already part of the Hempel Group and JWO (jwo.com) join forces in this unique cooperation, which should ensure Hempel continues to grow in both the European and global decorative markets.
Joe Devitt, Group Vice President, Decorative Europe, says: “JWO is an excellent match for Hempel and Crown Paints. Decorative Europe will be able to present new and exciting value propositions to both existing and new customers. Now, we have several routes to market for the brand and private label. We’re unique in terms of our knowledge, competencies and our experiences. Together we’re stronger.”
Joe continues: “By focusing on integration, as well as the alignment of our businesses and synergies, I’m convinced that we’ll create the foundation for a bright future and will lead the global consolidation of the decorative market.”
Facts about Hempel
• Hempel is a world leading coatings supplier for the Decorative, Protective, Marine, Container and Yacht markets and has been in the market for more than 100 years.
• Today, Hempel employs 6,700 people in more than 80 countries and has over 150 stock points, 26 factories and 15 R&D centres strategically located around the world to serve the global customers.
• Hempel’s vision is to grow faster than the market by being customer-centric, achieving higher profitability through operational excellence. Hempel wants to grow at least 2 per cent faster than the market:
o By acquisitions, e.g. in the Decorative market
o By organic growth, e.g. in line with the market segments in which we operate
• Hempel has in recent years grown rapidly through acquisitions of many great brands such as Jones Blair in the US, Schaepman in the Netherlands and Crown Paints in the UK.
• Hempel has been in the Decorative market for decades and holds a strong position in the UK, the Middle East and Iberian Peninsula.
• In 2017, Hempel focused successfully on optimising and investing in its functions, processes and leadership in order to continue the transformation of Hempel into a leading global coatings company and to accelerate the execution of its Journey to Excellence strategy
• Hempel key figures 2017
o Revenue: EUR 1.4 billion
o EBITDA: EUR 171 million
o Operating profit: EUR 115 million
o Net profit: EUR 55 million.
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