US PPG Industries wants to stay active in M&A – CEO

17 April 2014 19:59 Source:ICIS News

HOUSTON (ICIS)--PPG Industries remains interested in being an active player in the merger and acquisition (M&A) market, the CEO of the US-based coatings producer said on Thursday.

“We continue to be interested in making acquisitions both in the coatings space and the near adjacencies of specialty chemicals,” said Charles Bunch, who made his comments during a conference call regarding PPG’s Q1 2014 earnings.

PPG has made several deals of late.

In March, it made deals to take a minority stake in The Coatings Alliance paint dealers cooperative, as well as to acquire marine coatings producer Canal Supplies. The company also announced plans to expand existing sites such as its coatings manufacturing facility in Mexico.

In February, PPG reached an agreement to acquire Hi-Temp Coatings Technology, a supplier of insulative coatings.

Bunch sees PPG keeping the lines of communication open with other companies and making moves that the company feels will be better its business.

“I would say the [M&A] pipeline I find somewhat encouraging. … I think there is a good level of dialogue. I’m a little more optimistic than I was six months ago,” Bunch said.

By Jeremy Pafford