PPG Industries is strengthening its international industrial coatings portfolio with the acquisition of global specialty coatings producer Spraylat, the companies have announced.
Spraylat is a privately owned industrial coatings company based in Pelham, NY. Founded in 1936, the company had annual sales of about $125 million in 2011 and serves a customer base spanning more than 50 countries.
|Spraylat’s extensive liquid and powder product portfolio covers a vast range of high-performance industrial and architectural applications on metal, glass and plastic substrates.|
The deal is expected to close later this year, pending approvals. Terms were not disclosed.
“Acquiring Spraylat furthers PPG’s strategy to remain a leading industrial coatings supplier,” said Richard Zoulek, PPG vice president, industrial coatings, Americas. “This transaction strengthens PPG’s position in key end-use markets such as automotive parts, while expanding PPG’s overall liquid and powder coatings capabilities.”
Spraylat’s extensive liquid and powder product portfolio covers a vast range of high-performance industrial and architectural applications on metal, glass and plastic substrates. Product applications range from tanks, vessels, transportation and equipment to structural parts, extrusions and buildings.
The company is organized into four business units.
The Chicago-based Liquid Coatings unit incorporates Spraylat’s Automotive Group, the Liquid Specialties Group, Sign Coatings and One Shot/Chromatic Group. Spraylat is the leading supplier of coating products for the sign industry.
Powder Coatings, based in Gainesville, TX, includes products for industrial and architectural applications. These Spraylat products include Newlar, a 100% fluoropolymer, VOC-free, resin-based powder product; and Arc 2001, a proprietary formula based on super polyester technology.
Conductive Coatings/Electronic Materials, based in Mount Vernon, NY, supplies conductive coatings and materials to the electronics industry. That product family includes silver-coated copper, pure silver and hybrid coatings.
The Hilemn Mirror Coatings unit, based in Pelham, NY, has been a leading supplier of silvering solutions and coatings to the mirror industry since 1957.
“Spraylat’s strong customer base, dedication to innovation and service, combined with PPG’s global infrastructure, will create growth opportunities,” said Zoulek.
Founded in 1883, PPG has global headquarters in Pittsburgh and operates in more than 60 countries. Sales in 2011 were $14.9 billion.
On Thursday (Oct. 18), the company announced record third-quarter earnings.
On Friday (Oct. 19), it announced a quarterly dividend of 59 cents per share, the company’s 457th consecutive dividend payment. PPG has paid uninterrupted annual dividends since 1899.