Coatings World - July 2014

Comex Group, the largest paint company in Mexico was et to be bought by Sherwin-Williams in 2013. Although Sherwin-Williams has completed the acquisition of the U.S./ Canada business of Consorcio Comex, S.A. de C.V., the acquisition of its Mexican operations was blocked by the Mexican anti-monop-oly agency, Comisión Federal de Competencia (CFC) and S-W has since backed out of the deal.

Comex CEO Marcos Achar, reacting to the CFC decision, said
that a negative decision by the CFC would affect $1 billion worth
of investments his company has already made. He said that his com-
pany’s national paint and coatings market share amounts to only 40
percent with all segments combined. The company’s architectural
segment share is approximatley 53 percent, wood finishes is about
30 percent, waterproofing is about 30 percent, and industrial and
marine is about 18 percent, Achar noted in local interviews follow-
ing the CFC decision.

Comex produced paints and coatings in 16 North American locations, including eight in Mexico, five in the U.S. and three in Canada, through its acquisition of PPI several years ago. Out of the company’s $935 million revenues, 65 percent came from architectural segment sales, 25 percent from industrial sales and the remainder from all other segments. Comex enjoys a relationship with Mexico’s national oil company Pemex, for which it has helped develop paint and coatings quality standards that are utilized at times as a de facto national standard. Comex also exports to the Caribbean, where it has been building a network of more than 90 stores. Among countries in its network there are: Belize; Costa Rica; El Salvador; Guatemala; Honduras; Nicaragua and Panama.

PUBLIC COMPANY YEAR ESTABLISHED: 1959

REVENUE: $1.4 billion s (2012: $1.4 billion)

MARKETS SERVED

• Architectural coatings • Industrial coatings • Automotive refinish coatings • OEM (non-automotive)

KEY EXECUTIVES

Marcos Achar, CEO, Comex Group; Leon Cohen, president, Comex Mexico; Marcos Achar Meyohas, vice president treasurer; Elias Achar, vice president operations.

18Comex Mexico City, Mexico www.comex.com.mx

Protective coatings supplier, Hempel, recorded sales of $1.699 billion in 2013. Hempel is present in more than 80 coun- tries and has 25 factories, 48 sales offices and more than150 stockpoints.

The company offers protective coatings oil and gas, chemical plants, infrastructure, rail, mining and metal processing, pipelines and power generation. In the marine segment the company provides marine maintenance and marine newbuilding products. Hempel also offers both interior and exterior decorative coatings.

Hempel launched HEMPAGUARD, a new hull coating concept
for the shipping industry which offers both outstanding resistance to
fouling during idle periods and significant fuel savings. The technol-
ogy, dubbed ActiGuard, has been five years in development and is
based on silicone-hydrogel and biocide science. Hempel’s tests show
excellent fouling resistance of up to 120 days during idle periods
plus fuel savings of six per cent on average with HEMPAGUARD.
Hempel offers a performance satisfaction guarantee contract for
vessels complying with a full HEMPAGUARD X7 specification.
HEMPAGUARD is extremely flexible – a product covering most
combinations of sailing routes and trading patterns.

“Our tests have shown that HEMPAGUARD retains its effectiveness when switching between slow and fast steaming anywhere in the world as well as during extended idle periods of up to 120 days. This is particularly interesting for bulk carriers that can be redirected at short notice, as well as larger container vessels and tankers that may wish to increase speed to meet schedules, or slow steam to achieve extra fuel savings,” Claes Skat-Rørdam said.