PPG makes a billion-dollar deal with AkzoNobel
Pittsburgh-based PPG Industries reached a deal to acquire the North American architectural business of AkzoNobel, N.V., for $1.05 billion.
The acquisition includes the addition of about 600 AkzoNobel-owned paint stores, creating a combined network of about 1,000 company-owned stores serving the North American market.
The acquisition includes all AkzoNobel North American architectural coatings manufacturing and distribution facilities, paint stores, product lines and employees related to the production, sale and distribution of architectural coatings in the United States, Canada and the Caribbean. Leading brands included are Glidden, Flood, Liquid Nails, SICO and CIL.
Charles Bunch, PPG chairman and CEO, referred to a “prolonged construction market recovery” in describing the deal. Bunch said the acquired business had 2011 revenues of about $1.5 billion and “notably expands our customer reach in all three major North American architectural paint distribution channels.”
Ton Büchner, CEO of AkzoNobel, said, “Over the past four years, the team has done a great job in turning the North American Decorative Paints business around. I am pleased that we have found a respected company to take over the business. This agreement is a good outcome for all stakeholders.”
The transaction has been approved by the boards of directors of both companies and is expected to close in early second quarter 2013, subject to regulatory approvals.
Bunch added: “It also complements PPG’s national home center strategy by extending our branded paint product offerings to more than 8,000 retail outlets,” he added, referencing AkzoNobel- and PPG-branded retail paint products. “And finally, it enhances our already strong presence in the independent paint dealer channel.”
Make year-end celebrations inclusive
When HR Magazine asked readers how to thank employees with holiday festivities, human resource professionals responded with plenty of good ideas. One theme emerged, however: Make sure everyone feels included.
It can be difficult to stay religiously neutral during year-end celebrations, according to Melissa Fulwider of Augusta Iron & Steel Works Inc. in Augusta, Ga. Her advice was selected by HR Magazine staff as the winning response to the first HR Solutions Challenge, a monthly contest sponsored by the Society for Human Resource Management.
Her response contained a variety of ideas that were echoed by other contest participants:
• Thank employees for their work throughout the year.
• Give everyone a small gift.
• Share a meal with employees.
“Employers should never assume every employee celebrates holidays in the same way,” wrote Lyn Maylone, an HR manager from the Detroit area, in her contest submission. She suggested employers allow employees to plan activities, such as a potluck luncheon or food drive, without tying either activity to a specific holiday.
Host a New Year’s Eve kind of celebration, suggested April L. Braun, an HR professional from Iowa. “Focus on thanking employees for a successful year and encouraging the same enthusiasm and dedication to the company for the approaching New Year,” she wrote in her entry.
“A small gift or token of the company’s appreciation for all the employees have done throughout the year goes a long way towards making them feel valued and appreciated,” wrote Lisa Kemph, an HR director from Jacksonville, Fla., in her entry.
“Celebrate ‘esprit de corps’ over religion,” suggested Howard Spiegel, a Houston-based HR consultant, in his contest submission. Avoid symbols or activities that could exclude employees or lead to legal trouble. Among his suggestions:
• Don’t hang mistletoe.
• If there is music, consider the playlist.
• Limit religious symbols to cubicles or private offices.
• Avoid or limit alcohol.
• Watch the menu.
• Remind staff about the organization’s policy on harassment and discrimination.
Others favored multicultural events that encourage employees to share their cultural background through food, dress, music and games. “Emphasize openness to inclusion and a strong desire for all to be accepting and open to learning about the other cultures,” wrote Susan Wilson, SPHR, an HR director from Arkansas, in her contest entry.
Teresa Bergan, an HR professional from Spokane, Wash., suggested employers provide employees with an interfaith calendar highlighting events each month. “This will allow employees of all faiths to learn and emphasize with others and create a sense of family,” she wrote to HR Magazine.
©2012 SHRM. All rights reserved.
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