PPG Takes Over Auto, Wood Companies
PPG Industries has stretched its wings from Australia to France and from additives to wood stains, closing two acquisitions on two continents in two days.
On April 1, PPG completed its acquisition of France's Revocoat, a global supplier of sealants, adhesives and damper products for the automotive industry.
On March 31, PPG announced it had completed the acquisition of certain assets of Flood Australia, which manufactures and distributes specialty wood stain and paint additive solutions for consumer, commercial and industrial applications.
Financial terms were not disclosed for either deal.
Expanding Auto
Part of the Axson Group, Revocoat is a world leader in automotive adhesives and sealants and offers a range of automotive assembly products, including complementary epoxies, polyurethanes and water-based emulsions.
"The addition of Revocoat to our automotive coatings business strengthens PPG's global automotive adhesive and sealants product and technology offerings, enabling us to better serve our automotive customers around the world," said Cindy Niekamp, PPG senior VP, automotive original equipment manufacturer (OEM) coatings.
Revocoat employs over 500 people and operates eight manufacturing facilities and one research and development center. The company was created by Dow Chemical in 2008 and sold the next year to private investors.
Architectural Australia
Flood products are distributed in Australia at home-improvement stores and independent paint dealers. No manufacturing assets or facilities were included in the acquisition.
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| Floodaustralia.net |
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On March 31, PPG announced it had completed the acquisition of certain assets of Flood Australia, which manufactures and distributes specialty wood stain and paint additive solutions for consumer, commercial and industrial applications. |
PPG currently manufactures and distributes Flood wood-care products in North America.
"The acquisition of Flood Australia allows PPG to further expand its architectural paint and coatings offering and establish a position in wood care in Australia," said Michael McGarry, PPG president and chief operating officer.
More information: www.ppg.com.
