Paints and coatings maker The Valspar Corporation (VAL) said that Louisiana-Pacific (“LP”) CanExel, has launched three new, nature-inspired, prefinished wood siding colors, adding to its product portfolio.
The new colors, Cliffside (an earthy dark brown), Sandalwood (a warm, inviting light brown), and Coastline (a calm medium gray) have expanded the color palette of LP CanExel to 21. They were developed in collaboration with Valspar.
The three new colors have retained the same premium quality along with features like five-layer coat and heat-cured finish. According to Anne Brannan, Associate Segment Marketing Manager of LP CanExel, these three new, rich colors will enable the consumers to boost the beauty of their homes, making individual statements.
The new colors launched by CanExel were developed only after a thorough survey involving 500 architects, designers and homeowners in Canada and Europe. The survey was then supported by trend analysis and design direction from Valspar, ultimately resulting into these stunning colors. The first color collaboration between CanExel and Valspar has led to this innovation.
Revenues and profits of Valspar in third-quarter 2014 rose on continued strength across the company’s paints and coatings businesses, backed by healthy gains in China.
Valspar has a strong pipeline of new products and significant opportunities for share gains in both its Paints and Coatings segments. Its Paints division is benefiting from continued rollout of Valspar-branded products at Ace Hardware. Additionally, the newly launched Valspar Reserve interior and exterior paints are driving sales in the home improvement channel. Valspar is aggressively investing in advertising and marketing to support the new product.
Moreover, Valspar continues to witness strength in its coatings business, as evident from its new business wins. The company is also managing its costs well and maintaining a cost structure that is appropriate for the current external environment.
Valspar is a Zacks Rank #3 (Hold) stock.
Other companies in the specialty chemicals space with a favorable Zacks Rank are Green Plains Inc. (GPRE), Minerals Technologies Inc. (MTX) and Globe Specialty Metals, Inc. (GSM). While Green Plains and Minerals Technologies hold a Zacks Rank #1 (Strong Buy), Globe Specialty Metals carries a Zacks Rank #2 (Buy).
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