Frost & Sullivan recently recognized Hempel Coatings’ continued growth while overcoming the challenges of the protective and marine coatings market by awarding the company with its 2013 Growth Excellence Leadership Award. Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in capturing the highest compound annual growth rate for the past three years.
Hempel exhibited double-digit revenue growth well in excess of 20 percent and increased its overall market share in North America to 9.5 percent in 2012. Hempel’s successful acquisition of Blome International in 2012 complemented its existing product lines, especially for the oil and gas industry. Whereas smaller companies would have expanded their industry focus or become acquisition targets in a struggling economy, Hempel resisted the trend and became more aggressive to grow its market share. Its success stems from getting the sales force of both companies to sell the newly combined offering.
“The acquisition has been largely successful because of Hempel’s ability to increase its sales volume in the oil and gas sector with high value technology products, and in a number of other industries Blome International served and in which Hempel lacked a focus, such as pulp and paper, mining, water treatment, and food and beverage,” said Frost & Sullivan Industry Analyst Roland Heinze. “In order to promote the strengths of its acquisition, Hempel launched its ‘Unbeatable Match’ marketing campaign, which has been well received by new and existing customers.”
“I would like to thank our customers for they have trusted us to protect their assets,” said Malcolm Kerr, North America sales director. “This award is recognition that the execution of our ‘One Hempel — One ambition’ strategy is effective in the market place. It is a result of our dedicated staff across the organization remaining committed and focused on ensuring our customers are satisfied.”
Instead of expanding into other coating segments that are not the company’s main focus, Hempel chooses to strengthen its existing product lines with customized brands such as Hempasil and Hempaxane. The company is already a leading participant in the marine market, and one of its main goals is to double the protective business globally with a strong emphasis on North America.
Hempel’s total technology offering now includes silicones in marine coatings and polysiloxane in protective coatings, with unique characteristics that give these products a distinct competitive advantage in the market. It also offers more value-added services to boost risk-averse asset owners’ acceptance of cutting-edge technologies.
“Externally, the company has built brand recognition by working on high-profile projects and improving product breadth, application expertise and customer satisfaction,” said Heinze. “Internally, the company has structured itself to increase research and development, supply chain efficiency and sales opportunities in order to align its current strategy with future goals.”
For more information, visit www.hempel.us or call (936) 523-6000.