17 October 2012 15:09 [Source: ICIS news]
HOUSTON (ICIS)--PPG Industries has agreed to acquire industrial coatings firm Spraylat for an undisclosed sum, the US-based chemicals and coatings producer said on Wednesday.
New York-based Spraylat is a privately-owned firm with strong positions in automotive parts, architectural powder coatings, transportation, and general industrial niches, PPG said.
Spraylat had sales of about $125m (€96m) last year. It employs a staff of 300 in facilities in the ?xml:namespace>
“Acquiring Spraylat furthers PPG’s strategy to remain a leading industrial coatings supplier,” said Richard Zoulek, PPG vice president, industrial coatings,
PPG expects to complete the transaction in late 2012, it added.
($1 = €0.77)
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