PPG acquires private industrial coatings manufacturer Spraylat

PPG Industries has acquired Spraylat (Pelham, NY), a privately held industrial coatings firm, the company says. The transaction is expected to close in late 2012. The purchase price is estimated to be about $106 million, according to Laurence Alexander, an analyst with Jefferies & Company (New York). Spraylat had sales of $125 million in 2011 and makes coatings for parts, architectural surfaces, transportation, mirrors, electronic devices, metal office-furniture, and signs. The company has production facilities in the United States, Europe, and China, while...

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