Industrial Coatings key developments 2014

  • Revenue declined 3 percent, due to adverse currencies
  • Operating costs declined across all businesses due to restructuring and cost control measures
  • We continued to achieve growth in our high growth markets, with Coil Coatings and Packaging Coatings benefiting in Asia in particular
  • Capacity for Packaging Coatings was added in India, as well as a new resin reactor in Songjiang, China, where we also established a new Industrial Coatings RD&I center
  • We were the first to introduce an ultra-low formaldehyde emitting adhesive for the parquet flooring market in Europe
  • We have commercial success and are well positioned for the continued BPA-free conversion occurring in France
  • Streamlining of our Coil Coatings manufacturing footprint in Europe is nearly completed
  • In Wood Coatings, we are moving capacity to sites in High Point, Roanoke and Port Hope
  • We moved our Coil and Wood Coatings capacity in Brazil to a multi-site in Santo Andre

Some of our customers

  • Arcelor Mittal
  • Ball
  • Blue Scope Steel
  • Crown
  • IKEA
  • Rexam
  • TATA

Top raw materials

  • Polyester and epoxy resins
  • Glycol, ether and aromatic solvents
  • Titanium dioxide

Key cost drivers

  • Basic feedstock prices
  • Oil/gasoline/naphtha/natural gas prices