Valspar Buys Coil Coating Maker, Reports Higher Earnings

Valspar acquired coil and packaging coatings maker Aries Coil Coatings (Monterrey, Mexico) for an undisclosed sum. Aries had 2007 sales of about $40 million, Valspar says. Separately, Valspar reported fiscal first-quarter earnings up 2%, to $24 million (21 cts/share) including a 3-cts/share adjustment for Huarun minority interest shares. Sales rose 10%, to $765.1 million. "Results for the quarter were in line with our expectations," says William Mansfield, president and CEO. "Our international operations, packaging and industrial coatings, and...

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