PPG's purchase of ICI units

PPG's purchase of ICI units

Keywords: PPG, ICI, Acquisition

PPG Industries is acquiring Imperial Chemical Industries, refinish coatings,industrial coatings and Grow Automotive solvents and thinners units for about US$684m. The transaction, subject to regulatory approvals, is expected to be completed about mid-year in Europe and the Americas and later in the year in Asia. Sales of the units PPG will acquire totalled about US$459m last year.

Business units in India, Pakistan and Sri Lanka were excluded because of complexities that include local ownership interests, according to Douglas C. Hepper, PPG's general manager of refinishes.

PPG's acquisition includes a refinish manufacturing facility in Stowmarket,Suffolk, UK.