Wattyl Acquires Wasser High-Tech

Wattyl Limited of Sydney, Australia acquired Wasser High-Tech Coatings on July 1, 1999. In its most recent fiscal year, Wattyl achieved sales of $347 million and pre-tax profit of $23.2 million. Wattyl specializes in most aspects of the paint and coating industry including architectural and decorative coatings, industrial maintenance, OEM, marine and automotive refinishing. This acquisition, which strengthens Wasser's ability to both sell and service their growing worldwide business in the offshore markets, also solidifies the company's leadership position in the U.S. Bridge and hydro markets.