Follow us on Twitter Follow us on LinkedIn Like us on Facebook Follow us on Instagram Visit the TPC Store
Search the site




Coatings Industry News

Main News Page

PPG Drops Comex; S-W Talks Continue

Wednesday, March 12, 2014

More items for Coating Materials
More items from Latin America; North America

Comment | More

PPG Industries’ Protective and Marine Coatings (PMC) business has terminated its licensee agreement with the Comex Group, but Sherwin-Williams remains interested in Central and South America's largest paint producer.

PPG announced this week that it would be sell and service its Amercoat brand in Mexico directly, rather than through Comex.

Hoover Dam-Amercoat

PPG will sell its Amercoat products directly in Mexico, rather than using Comex as a distributor. Amercoat was used on the Hoover Dam Bypass Bridge, which opened in 2010.

The Pittsburgh-based coating supplier did not give a reason for terminating  the deal, but said in a brief announcement that the change would allow PPG to work "more closely with our customers."

'Tremendous Growth Market'

“We view Mexico as a tremendous growth market,” said Diane Kappas, PPG vice president, Americas, PMC.

“By working more closely with our customers, we believe we can enhance their competitive advantage, not just through the strength of our product offering but with advanced levels of technical and sales support.”

PPG made a similar announcement last July about its Amercoat distribution in Canada.

Products sold and serviced by PPG in Mexico include Amerlock epoxies for protecting steel and concrete structures; Dimetcote inorganic zinc primers, for protectug carbon steel against corrosion; and PSX 700 polysiloxane topoat for various protective and marine segments.

Comex Group
Comex Group

Based in Mexico City, the Comex Group is the largest paint and coatings manufacturer in Central and South America. Sherwin-Williams has been trying to buy the business.

These and other Amercoat products by PPG can now be ordered in Mexico by calling +52-427-271-9923+52-427-271-9923 or +52-427-271-9179+52-427-271-9179.

Sherwin Deal Not Dead

Meanwhile, Sherwin-Williams announced that it remained in talks with federal trade officials in Mexico regarding the Cleveland company's long-running effort to buy the Comex Group.

Sherwin-Williams announced plans for the $2.34 billion acquisition in November 2012, calling the two companies "an ideal fit in every respect." Comex Group, headquartered in Mexico City, manufactures and sells architectural and industrial coatings throughout Latin America, the U.S. and Canada. Sales generated about $1.4 billion in 2011.

Sherwin-Williams wants Comex in order to establish a major presence in Latin America.

Sherwin-Williams completed the $90 million acquisition of Comex's North American business on September 2013, but the Federal Competition Commission of Mexico blocked the acquisition of Comex's Mexico operation—by far, the largest part of its business. Several months later, the commission rejected the paint maker's appeal of the decision.

The Sherwin-Williams Company

The U.S.'s largest paint retailer expanded in September with the $90 million acquisition of Comex's North American portfolio. Mexican regulators blocked the rest of the deal.

Sherwin-Williams said in October that it was reviewing its options.

'Ongoing Effort'

On March 7, Sherwin-Williams announced in a brief statement that it had met with the commission in Mexico "to discuss the Company's ongoing effort to acquire the Comex business in Mexico."

Sherwin-Williams said it had not refiled its appeal to the commission.

"The purpose of this meeting was to discuss various issues relating to potential remedies required by the Commission as a condition of regulatory approval of the transaction," said the statement, Sherwin-Williams' first word on the matter in months.

No additional details were provided.


Tagged categories: Comex; Distributors; Mergers; PPG; Sherwin-Williams

Comment Join the Conversation:

Sign in to our community to add your comments.

New resins from BASF will have metals loving water!
Excellent corrosion resistance, low VOC, high gloss, thin films 800-231-7868

Jotun Paints Inc.
Jotun Jotachar 1709
Mesh-free passive fire protection epoxy designed to protect against hydrocarbon pool fire scenarios for up to four hours as defined in the ANSI/UL1709 standard.

SAFE Systems, Inc.
SAFE Systems'
Blast Lights &
Deadman Switches
Halogen or LED blast lights available with our NEW urethane bumper. Switches available in many colors for color coding your hoses.

Mitsubishi Gas Chemical America
Performance Amine 1,3-BAC
A highly reactive cycloaliphatic diamine offering superior performance. Reasonable cost and curing efficacy makes it suitable for all types of epoxy resin applications.

HoldTight Solutions Inc.
Our HoldTight®102 salt remover & flash rust
preventer prevents flash
rust by removing surface contaminants. Contact us
for your nearest distributor.
(800) 319.8802

Carboline Company
Carboline launches new website!
The completely revamped website, offers quick and easy access to essential product information and is now mobile-friendly.

Absolute Equipment/Grand Rental Station
We have Tier 4 Equipment including Air Compressors & Generators for Sale & Rent! Your job may now require Tier-4. or Call 412-931-6655.

KTA-Tator, Inc. - Corporate Office
Instrument Service Department
Are you a QP certified contractor? KTA’s Instrument Service Department can help keep you compliant!
Click or call 1-800-KTA-GAGE.

Graco Inc.
Graco EcoQuip 2: Experience the Difference
While others claim their equipment is the same, none of them compare to Graco’s EcoQuip 2™ Vapor Abrasive® blasting line. Visit to learn more.


Technology Publishing Co., 1501 Reedsdale Street, Suite 2008, Pittsburgh, PA 15233

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL

The Technology Publishing Network

Durability + Design PaintSquare the Journal of Protective Coatings & Linings Paint BidTracker

EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About   |   Privacy Policy   |   Terms & Conditions   |   Support   |   Site Map   |   Search   |   Contact Us