Valspar Expands Production Capacity For Automotive Coatings
Zacks Investment Research | May 25, 2017 09:42PM ET
The Valspar Corporation (NYSE:VAL) has boosted the production capacity of its automotive refinish coatings products at U.S.-based manufacturing facilities. Through recent technology and equipment upgrades, at the Garland, TX, Pittsburgh, PA and Massillon, OH facilities, Valspar Automotive has not only increased production in North America, but also augmented its storage space by approximately 300%.
These facilities develop and produce refinish products for some of the most popular brands in the industry, including DeBeer Refinish, Valspar Refinish, Matrix Automotive Finishes, U.S. Chemical & Plastics and Prospray Finishes as well as several private label brands.
The Garland and Pittsburgh sites have witnessed an increase in manufacturing volumes due to technology and equipment upgrades. The $10 million expansion project at Garland and Pittsburgh sites have been the largest of its kind by Valspar Automotive till date. The filling and storage capacity has also increased for select brands including DeBeer Refinish, Valspar Refinish, Prospray Finishes and Matrix Automotive Finishes. The initiative is likely to augment production of automotive refinish brands by almost 200%.
Expansion at the three facilities is part of the final stages of integrating the automotive refinish coatings business of Quest Specialty Chemicals, which Valspar acquired in Jun 2015.
Valspar has underperformed the Zacks categorized Original post
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