12 November 2012 18:56 [Source: ICIS news]
HOUSTON (ICIS)--US-based paint maker Sherwin-Williams said on Monday it has signed an agreement to acquire Consorcio Comex, a paint and coatings manufacturer headquartered in Mexico.
Sherwin-Williams will pay about $2.34bn (€1.85bn) including assumed debt in the all-cash transaction.
The acquisition is subject to certain conditions and regulatory approval.
Comex manufactures and sells architectural and industrial coatings in Mexico and markets products under other brand names in the US and Canada.
Paint companies are major consumers of titanium dioxide (TiO2).
($1 = €0.79)
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