02 January 2008 17:58 [Source: ICIS news]
HOUSTON (ICIS news)--US paints and coatings company PPG Industries has completed its $3.2bn (€2.2bn) acquisition of SigmaKalon, the company said on Wednesday.
The acquisition should increase sales at PPG by $3bn a year, the company said.
With the acquisition of the Netherlands-based producer, PPG will generate almost three-quarters of its continuing operations sales from coatings, according to a statement by CEO Charles Bunch.
“This acquisition is strongly aligned with our vision and core strategies,” Bunch said in the statement.
“With SigmaKalon, we are accelerating our transformation to focus on coatings and specialty products," he said.
($1 = €0.69)
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