PPG Metal Deco Ink Assets Sold to UK Firm
Sun Chemical (Wexham Springs, U.K.), a member of the Japan-based DIC Group, recently announced that it has acquired a portion of the metal decorative ink business of PPG (Pittsburgh) in a deal the financial terms of which have not been disclosed.
Sun Chemical said the deal will allow the company to “expand both its operational territories and its overall position in the global Metal Deco market.”
A PPG spokesperson told PaintSquare Daily News in a statement that the deal, reached March 1, will “transfer certain assets related to decorative inks for packaging coatings,” comprising “a small portion of the overall PPG Packaging Coatings business” and related primarily to products marketed in the Europe, Middle East and Africa region.
“The transaction allows PPG to improve its operational efficiency within its Packaging Coatings business, reducing complexity, increasing capacity for future growth and enabling a sharper focus on innovating to serve customer needs,” the company added.
PPG’s packaging coatings business, part of its Industrial Coatings segment, has grown in the North America region in recent years, and in its 2017 annual report, PPG indicated it expects continued volume growth, especially in the U.S. and Canada.
Sun Chemical is a manufacturer of printing inks, coatings and supplies, pigments, polymers, liquid compounds, solid compounds and application materials, and is part of the larger DIC Group, which reports more than $7.5 billion in annual sales. Sun Chemical’s global headquarters is in Parsippany, New Jersey, but its U.K.-based Europe division made the acquisition.