US PPG Industries to acquire coatings firm Spraylat

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 US, Europe and China.

“Acquiring Spraylat furthers PPG’s strategy to remain a leading industrial coatings supplier,” said Richard Zoulek, PPG vice president, industrial coatings, Americas.

PPG expects to complete the transaction in late 2012, it added.

($1 = €0.77)

By: Stefan Baumgarten
+1 713 525 2653

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