PPG acquires private industrial coatings firm Spraylat

PPG Industries has acquired Spraylat (Pelham, NY), a privately owned industrial coatings company. The transaction is expected to close in late 2012. Financial terms of the agreement were not disclosed. Laurence Alexander, an analyst at Jefferies (New York), estimates the purchase price to be $106 million. “Acquiring Spraylat furthers PPG’s strategy to remain a leading industrial coatings supplier,” says Richard Zoulek, v.p./industrial coatings, Americas for PPG. “This transaction strengthens PPG’s position in key end-use markets...

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