PPG completes acquisition

Keywords PPG, PRC-DeSoto, Acquisition

PPG Industries reports that it has completed its previously announced acquisition of PRC-DeSoto International of Glendale, California - formerly Courtaulds Aerospace - from Akzo Nobel of The Netherlands for US$512 million.

Former PRC-DeSoto President Theodore M. Clark was named general manager of PPG's sixteenth strategic business unit, aerospace coatings and sealants, formed by the acquisition. He will be based in Glendale. Theodore, a 25-year PRC veteran, was corporate vice president and business manager when Courtaulds plc acquired the firm in 1989, became president in 1991 and president-CEO in'1996.