On April 17, global coatings giant PPG announced that it has completed the acquisition of automotive coatings manufacturer Hemmelrath. "This acquisition is another step in our strategic growth plan and will provide further value to our customers and shareholders." Michael McGarry, chairman and CEO of PPG, previously said.
Haimerat was founded in 1946 and is headquartered in Klingenberg, Germany. It is a family-owned automotive OEM coating manufacturer. The company has more than 450 employees and has established production bases in Germany, the United States, Russia, Spain, Brazil, South Africa, China and other countries. Haimerat has painted its products for more than 40 automotive plants and more than 7 million vehicles worldwide, mainly supporting high-end models such as BMW, Mercedes, Volkswagen, Audi, Volvo, and Porsche.
The reporter from Tujie noted that in August 2016, Haimerat of Germany and the Jilin Economic Development Zone Administrative Committee jointly signed an investment agreement for an annual production of 10,000 tons of automotive coatings project, and set up Haimerat Automotive Coatings (Jilin ) Ltd. The total investment of the project is 104 million yuan, and it is estimated that the sales income will be 150 million yuan after it is put into production. This is also the first automotive coatings research and development center and production base project invested by German Hemerat in China. It entered the trial production phase in February 2019.
According to the data disclosed by the official website of Haimerat, the company currently has 480 employees and operating income of about 107 million euros. According to the "Top 100 World Coatings Companies 2018" released by "Coatings Industry", Haimerat ranked 50th with 2017 sales income of 347.2 million US dollars (about 2.26 billion yuan). Bit.
"The fit between Hemerat and PPG is complementary. This acquisition will enhance PPG's automotive coatings products and add formulation and manufacturing solutions." Rebecca Liebert, senior vice president of automotive coatings at PPG, previously said.
The reporter from Tujie noted that PPG has announced six acquisitions in the past year, including the recent SEM, Whitford and Hemmelrath acquisitions. The annual report shows that PPG achieved net sales of approximately USD 15.4 billion in 2018, of which automotive coatings (including automotive refinish) sales were approximately USD 4.6 billion. Automotive OEM coatings ranked first in the world, and automotive refinishes ranked second in the world.