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PPG Industries to acquire Mexico's Comex for $2.3 billion

7:32 AM MDT | June 30, 2014 | Robert Westervelt

PPG Industries has reached a definitive agreement to acquire Consorcio Comex (Mexico City), a leading Mexican producer of architectural and industrial coatings, for $2.3 billion. The deal follows two months after Sherwin-Williams (SW) cancelled plans to acquire the Mexican operations of Comex for $2.3 billion after Mexico’s federal competition commission blocked the deal.  The privately held Comex has approximately 3,900 employees, eight manufacturing facilities, and six distribution centers, and had sales of approximately $1 billion in 2013. Comex...

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