WPCIA Washington May 29, 2018

　　Hempel A/S signed an agreement to acquire 65 percent of one of Germany’s leading manufacturers of decorative paint, J.W. Ostendorf. Following closing of the transaction, JWO becomes part of the worldwide Hempel family. Branding-wise JWO becomes “A part of Hempel.”

　　The investment in JWO is a significant reinforcement in Hempel’s third strategic business area – the decorative business.

　　“Our decorative business is relatively new and has therefore naturally been a bit overshadowed by the company’s two other strategic business areas, Marine and Protective. This is now over,” Hempel Group President & CEO Henrik Andersen said. “With the investment in JWO, one of the world’s leading manufacturers of decorative paint, we have grown our decorative business significantly and sent a signal that we are ready to do more – in Europe and globally.”

　　JWO has approximately 750 employees and is located in Coesfeld, North Rhine Westphalia, Germany, and in Cestas, France.

　　JWO is certified by LGA (derived hygiene standards for paint as for the food industry). Among other things, the production is primarily water-based, but JWO also produces solvent-based products.

　　“I have great expectations of JWO and I have great expectations about JWO joining forces with another leading European decorative company, U.K.-based Crown Paints – also part of the Hempel Group. In close collaboration, both companies will develop and grow the Hempel family’s decorative business in Europe,” Andersen said.

　　JWO is a family-owned company. The former CEO and majority shareholder Michael Ostendorf and his sons Jan and Jens Ostendorf will continue to be involved in the busi- ness as shareholders.
 Going forward, JWO will be managed on a daily basis by Jan and Jens Ostendorf, who will be responsible for the North and South European markets respectively.

　　“I particularly look forward to the close collaboration we are forming with Crown Paints. By joining forces, we create a strong platform for continued expansion in the European decorative market,” Michael Ostendorf said.

　　Hempel’s investment in JWO is one of many made during recent years. Besides Crown Paints, Hempel has successfully acquired and integrated companies such as Schaepman (The Netherlands) and Jones Blair (U.S.) into the Hempel family.