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Car Refinishes

Revenue in 2010 ended 14 percent higher than the previous year. Growth was most evident in the vehicle repair segment in Asia – supported by the acquisition of Changzhou Prime Automotive Paint Co. Ltd in China – as well as in South America and Turkey. We also experienced increased demand in our commercial vehicle OEM and automotive plastic coatings segments, which benefited from the recovery in the automotive market. Despite the change in mix and an increase in raw material prices, margins remained stable. Operating costs have increased over the last year, partly as a result of acquisitions and partly due to investments made in high growth markets.

In Q4, total volumes ended higher than in Q4 2009, aided by newly won contract volumes in the premium vehicle repair segment in Europe and North America, and driven by strong growth in the premium vehicle repair segments in Asia and South America. Volumes in the trade vehicle repair segment also increased in Q4, supported by the aforementioned Prime acquisition in China. The commercial vehicle OEM segment continued its recovery, mainly in the US and Brazil, albeit not at the same pace as in previous quarters. Volumes and revenue at our Automotive Plastic Coatings business grew versus Q4 2009, mainly due to a favorable mix.

Aerospace Coatings’ volumes and revenue improved versus the previous year, mainly due to recovery in the US OEM and maintenance markets and strong sales growth in the Asia Pacific region. We underlined our commitment to strengthen our color leadership position by announcing the relaunch of our highly regarded Colormap in Q4. We bought out a joint venture partner and assumed full responsibility for the marketing and distribution of the Sikkens, Lesonal, U-Tech and Wanda brands in Mexico. Toyota Motor Europe (TME) also became the first global automotive manufacturer to offer stickerfix – our innovative DIY repair solution for minor paint damage – to its customers. stickerfix is a unique, ultra-thin, hi-tech adhesive film coated with a perfect match of the original vehicle color, which uses professional, high quality automotive refinish paint.

Following the business reorganizations within Performance Coatings in 2010, the business unit Car Refinishes changed its name to Automotive and Aerospace Coatings on January 1, 2011 to better reflect its activities.

Copyright © 2011 Akzo Nobel N.V.