Markets :: Specialty Chemicals :: Paints and Coatings
PPG Acquires Chinese Auto Refinish Coatings Business
12:33 PM MDT | October 3, 2008 | Chemical Week Editorial Staff
PPG Industries says it has acquired the automotive refinish coatings business of Bonny Coating-Made Co. (Guangzhou, China). Terms were not disclosed. The deal includes customer lists, technology, brands and trademarks, working capital, and about 40 employees. The acquisition extends PPG’s distribution network and customer base, PPG says. “The increasing rates of passenger car ownership and vehicle population in China will contribute greatly to sustained future growth,” says J. Rich Alexander, senior v.p./coatings. Meanwhile, PPG completed the...
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