Norwest. Wattyl $110 million takeover bid

US paint giant, Valspar, proposes a $110 million takeover of Australian icon, Wattyl, based at Norwest Business Park. Wattyl is number two in the local market after Dulux and above Taubmans and new arrival Nippon Paints.. Wattyl is recovering from losses in 2008. The company, which had to shed 14 per cent of its staff after the global financial crisis, reported net earnings of $2.4 million in the half year to December 2009.

Norwest. Wattyl may be turning around

A raft of management changes and cost cutting may finally have turned around the Wattyl Group, based at Norwest Business Park, positioning the paint maker to tap into Federal Government spending on schools and first-home owners, according to The Australian Financial Review. Wattyl has withstood two failed takeover attempts, a sagging housing and home improvement market and about seven management appointments in the past year.