Dr Otto Schulz, Partner at EY-Parthenon We have analysed the chemicals industry from top to bottom, and the paints and coatings sector is right up there. It ranks second in the list of sectors within the chemicals industry that are ripe for takeover. Overall, there is a big trend in the chemicals sector towards divesting non-core activities and concentrating on core businesses. This has recently been happening in the paints and coatings sector as well. The industry is composed of many medium-sized companies, with only a few major multinationals, and overall debt levels there ...