PPG strikes deal to expand US industrial coatings

16 October 2007 17:04  [Source: ICIS news]

TORONTO (ICIS news)--PPG Industries has acquired certain industrial coatings assets from Coatings Resource Corporation (CRC) and also agreed a toll manufacturing deal with the company, the US paint and coatings maker said on Tuesday.

 

CRC, based in Huntington Beach, California, supplies customised coatings solutions to plastics makers. The acquired assets included inventory, accounts receivable, selected equipment, formulations and customer lists, PPG said.

 

In addition, CRC’s plant at Huntington Beach would toll manufacture products for PPG, it said.

 

PPG did not disclose financial terms or capacities but added that CRC’s plant employed about 30 workers.

 

PPG's shares were up 0.41%, to $78.30, in early Tuesday morning trading on the New York Stock Exchange.

 

By: Stefan Baumgarten
+1 713 525 2653

< previous article(VIDEO - ICIS news Europe Lunchtime Bulletin 27 October 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly