Comex Group
{{Short description|Mexican paint manufacturer}}
{{hatnote|For COMEX, the Commodity Exchange, see New York Mercantile Exchange}}
{{Infobox company
| name = Comex Group
| logo = Comex.svg
| type = Private (Limited liability)
| foundation = {{start date and age|df=yes|1959||}}
| location_city = Mexico City
| location_country = Mexico
| key_people = Henrik Bergström CEO
| products = Paint and waterproofing products
| num_employees = 2,344
| parent = PPG Industries
| revenue = US$1.2 billion{{cite web | title=17-The Comex Group | website=Coatings World | date=2010-08-17 | url=https://www.coatingsworld.com/contents/view_top-companies-report/2010-08-17/17-the-comex-group/ | access-date=2025-03-22}}
| homepage = {{url|www.comex.com.mx}}
}}
Comex Group is the fourth largest paint 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.{{cite web | url=https://www.bloomberg.com/news/2012-11-12/sherwin-williams-to-buy-paint-maker-comex-for-2-34-billion-1-.html | title=Sherwin-Williams to Buy Paint Maker Comex for $2.34 Billion | publisher=Bloomberg | date=Nov 12, 2012 | access-date=2013-06-04 |author1=Kaskey, Jack |author2=Case, Brendan}} The deal was rejected by Mexico's Comisión Federal de Competencia in November 2013 for antitrust purposes,{{cite web|url=https://www.zacks.com/stock/news/113395/sherwinwilliams-falls-as-comex-acquisition-appeal-denied|title=Sherwin-Williams Falls as Comex Acquisition Appeal Denied|website=Zacks.com|date=4 November 2013|access-date=2016-08-18|archive-url=https://web.archive.org/web/20161005230723/https://www.zacks.com/stock/news/113395/sherwinwilliams-falls-as-comex-acquisition-appeal-denied|archive-date=5 October 2016|url-status=dead}} and a result of such, PPG Industries has agreed to buy Comex for $2.3 billion {{cite web | url=https://dealbook.nytimes.com/2014/06/30/ppg-industries-to-buy-mexican-paint-company-consorcio-comex-for-2-3-billion/?_php=true&_type=blogs&_r=0 | title=PPG to Buy Mexican Paint Maker Consorcio Comex for $2.3 Billion | publisher=TheNewYorkTimes | date=Jun 30, 2014 | access-date= Jul 4, 2014 | author=Alden, William}} Sherwin-Williams was still able to purchase Comex' operations in the United States and Canada for $165 million.{{cite web|url=https://www.bloomberg.com/news/articles/2014-04-04/sherwin-williams-cancels-bid-for-comex-mexico-unit|title=Sherwin-Williams Cancels Bid for Comex Mexico Unit|website=Bloomberg.com|date=4 April 2014|author=Jack Kaskey|access-date=2016-08-18}} 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.{{cite web|url=https://www.reuters.com/article/mexico-comex-idUSL1N0O01Q220140514|title=Mexico's Comex sues Sherwin-Williams over failed takeover|website=Reuters.com|date=14 May 2014|author1=Dave Graham|author2=Tomas Sarmiento|access-date=2016-08-18}}
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.{{cite web|url=http://www.businessinsider.com/r-mexican-firm-sorry-for-royally-selling-president-short-2015-7|title=Mexican firm sorry for royally selling president short|website=Businessinsider.com|date=2 July 2015|author=Max de Haldevang|access-date=2016-08-18}}{{cite web|url=http://fusion.net/story/161627/why-is-a-mexican-paint-company-trolling-the-president-about-his-height/|title=Why is a Mexican paint company trolling the president about his height?|website=Fusion.net|date=6 July 2015|author=Rafa Fernandez De Castro|access-date=2016-08-18|archive-date=2016-10-05|archive-url=https://web.archive.org/web/20161005230551/http://fusion.net/story/161627/why-is-a-mexican-paint-company-trolling-the-president-about-his-height/|url-status=dead}}
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.{{cite web|url=http://www.businesswire.com/news/home/20160112006386/en/PPG-Comex-Opens-4000th-Paint-Coatings-Retail|title=PPG Comex Opens 4,000th Paint and Coatings Retail Location in Mexico|website=Businesswire.com|date=12 January 2016|access-date=2016-08-18}}
References
{{Reflist}}
External links
{{Commons category|Comex Group}}
- [http://www.comex.com.mx/ Official website]
{{PPG Industries}}
Category:Chemical companies established in 1959
Category:Companies based in Mexico City