MOSCOW (MRC) -- The Valspar Corporation announced that it has completed the acquisition of ISVA Vernici, a European coil coatings manufacturer headquartered in Turin, Italy, said Khq.
The ISVA acquisition extends Valspar's manufacturing footprint in Europe and brings customers an expanded product offering and increased customer service capabilities. Financial terms of the acquisition were not disclosed.
"ISVA's excellent positioning in southern Europe will improve Valspar Coil's global presence and extend our reach into North Africa and the Gulf region," said Howard Heckes, Valspar Executive Vice President and President, Global Coatings. "Both Valspar and ISVA have long histories of innovation, supported by technologies and products that are well-respected in the market. Valspar's customers will benefit from access to coating technologies from ISVA paired with Valspar's technical service and global manufacturing capabilities. We are pleased to welcome the ISVA team to the Valspar family to help deliver these benefits to our customers."
Valspar is one of the leading manufacturers of architectural coil and extrusion coatings in the world. With an enduring commitment to durability, sustainability, and an ever-expanding palette of colors, Valspar offers unlimited design freedom to countless industries, projects and locations.
As MRC informed earlier, Valspar completed development of a USD45m manufacturing centre in Tianjin, China, for a range of paints and coatings products in April 2015.
The Valspar Corporation is an American international manufacturer of paint and coatings based in Minneapolis, Minnesota, USA. With nearly 10,000 employees in 25 countries and a company history that spans over two centuries long, it is the sixth largest paint and coating corporation in the world. Valspar was founded in 1806 as a paint dealership in Boston, Massachusetts. The Valspar name emerged in 1903 as a new clear varnish, and became the company name in 1932.