The Valspar Corporation (NYSE:VAL) makes industrial, packaging, automotive, and house paints, which can be found on everything from heavy machinery to soda cans. It is the world's number one supplier (in terms of sales) of wood coatings. 92.2% of Valspar's 2009 revenues came from the sales of paints and finishes, which are all made of petrochemicals.^[1]

In recent years, Valspar has been growing its international business rapidly, with a focus on emerging markets. In addition to becoming the leading supplier by sales of wood coatings in China, Valspar has become the number one supplier of packaging and coil coatings in Latin America. Much of this is a result of the company's strategy to use acquisitions as a means of growth.In recent years, Valspar has spent roughly $500 million to buy companies in high-growth economies.

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