Comex Group is the fourth largest
paint
Paint is any pigmented liquid, liquefiable, or solid mastic composition that, after application to a substrate in a thin layer, converts to a solid film. It is most commonly used to protect, color, or provide texture. Paint can be made in many ...
manufacturer and distributor of paints and
waterproofing products in North America, with 3,300 locations.
History
The Sherwin-Williams Company (SHW), the largest U.S. paint retailer, agreed in November 2012 to acquire closely held Consorcio Comex SA de CV for about $2.34 billion including debt to gain Mexico's largest paint maker. The deal was rejected by Mexico's
Comisión Federal de Competencia in November 2013 for antitrust purposes,
and a result of such,
PPG Industries
PPG Industries, Inc. is an American Fortune 500 company and global supplier of paints, coatings, and specialty materials. With headquarters in Pittsburgh, Pennsylvania, PPG operates in more than 70 countries around the globe. By revenue it is ...
has agreed to buy Comex for $2.3 billion Sherwin-Williams was still able to purchase Comex' operations in the United States and Canada for $165 million. After the failed bid in Mexico, and before the take-over by PPG, Comex sued Sherwin-Williams for not trying hard enough to seal the deal.
In July 2015, after the photo of president
Enrique Peña Nieto showing his height difference next to
Felipe VI of Spain made the international headlines, Comex released on its Twitter account a photoshopped photo of the Mexican president standing on one of its paint pots with the text ''"una pintura de altura"'' (''a paint of stature''). After the post got widely retweeted, the company deleted it and made an official apology, arguing that the photo had not been approved before it went live.
Activity
Comex sells paint and coatings. As of 2013, the company distributed its products through 234 Comex stores in the United States, 80 Comex stores and 1500 external retailers in Canada. It also operates five manufacturing sites in the US and three in Canada.
In January 2016, Comex opened its 4,000th store in Mexico.
References
External links
Official website
{{PPG Industries
Chemical companies established in 1959
Companies based in Mexico City
Mexican brands
Mexican companies established in 1959
PPG Industries