PPG completes $65m divestment of unit to Zambon

30 November 2007 15:49  [Source: ICIS news]

TORONTO (ICIS news)--US paint and coatings major PPG Industries has completed the $65m divestment of its fine chemicals business to ZaCh System, a subsidiary of Italy’s Zambon Company, it said on Friday.

 

The sale was an important part of PPG’s strategy to focus on its core coatings and specialty products business, said chief executive Charles Bunch.

 

The fine chemicals business employs 360 people and facilities included in the sale were plants in LaPorte, Texas, and Avrille, France, PPG said.

 

The plant in LaPorte operated separately from an adjacent PPG phosgene derivatives facility that was not part of the sale, it added.

 

In October, PPG acquired for €2.2bn Netherlands-based SigmaKalon, a producer of architectural, protective, marine and industrial coatings.

 

($1 = €0.68)

By: Stefan Baumgarten
+1 713 525 2653

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