Valspar is a global giant in the manufacture of high performance paints and coatings. Based in Minneapolis, MN, USA, with annual revenues of $4.6bn, it is currently ranked the fourth largest producer of paints and coatings in the world. Valspar is one of the largest suppliers of paint into the North American DIY market and one of the largest suppliers into the packaging coatings market. We are also very pleased and proud to share that Valspar is one of Lucite International’s (LI) largest, most important and valued customers. We celebrate our enduring relationship as we take a high-level look at Valspar’s business, and its leadership in technology and innovation.
Clear and unifying mission
With around 11,000 employees and operations in more than 100 countries, including the USA, China, Australia, Europe, Canada and Latin America, the Valspar Corporation has a clear mission to be the best coatings company in the world as judged by its stakeholders – customers, employees, suppliers and the communities where it operates. And with a stated promise – ‘If it matters, we’re on it®’ – driving progress forward, Valspar is a business that is going from strength to strength.
Differentiated technologies drive success
Ask Valspar what drives the company’s passion for being the best, and the answer is very clear; it’s having a single-minded focus on ensuring that its own valued customers are successful. What this means in practice is investing in innovation, continually pushing the boundaries of science and developing differentiated coating technologies that solve the challenges presented by its customers’ customers – today’s consumers, whether they be home-owners or from the wide range of industrial segments that Valspar serves.
Domestic bliss to protection industrial style!
So what about Valspar’s diverse product offer? Suffice it to say that things have come a long way from the early days when Valspar unveiled its first varnish for protecting wood from water back in 1906! The company now operates two complementary divisions: the coatings division, which includes products for packaging, general industrial, coil and wood; and the paints division, which includes decorative paints, stains, primers, and varnishes for both the DIY and professional market, as well as automotive refinish products. Knowledge of the individual coatings sectors is key to ensuring the right products are specified to meet performance requirements and it is Valspar’s highly experienced commercial teams that are the driving force behind the global distribution of these products.
MMA is a vital ingredient for Valspar’s paints and coatings and LI has been a strategic supplier of the product for more than two decades. Wayne Price, LI’s Senior Regional Manager for Valspar for over 20 years, said: “In 2013, we were delighted to be able to extend the agreement to supply the majority share of Valspar’s MMA demand in the Americas. We also continue to provide EMA, nBMA and MAA for its North America operations. These strong supply shares are the result of the confidence we’ve established with Valspar over many years of working together. I believe this has been achieved by developing a comprehensive understanding of Valspar’s business and its needs and then working in close partnership to consistently deliver our value proposition, which includes security of supply, honoring our commitments, best in class service, and product quality.”