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PPG Acquires Danish Architectural Coatings Producer

5:38 AM MDT | May 5, 2011 | Natasha Alperowicz

PPG Industries signed a conditional agreement today with Monberg & Thorsen (Søborg, Denmark) to buy that company's wholly owned subsidiary Dyrup (Copenhagen) for DK1 billion ($200 million) on a debt-free basis. Dyrup, a European producer of architectural coatings, particularly wood stains, and specialty products, reported sales of approximately $270 million in 2010. It employs 950 people and operates six manufacturing facilities in Europe. Durup's portfolio of brands, including Bondex, Gori, and Xylophene, is sold primarily in Denmark, France, Germany...

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