PITTSBURGH--(BUSINESS WIRE)--Jun. 2, 2015--
PPG Industries (NYSE:PPG) today announced that it has acquired Consorcio
Latinoamericano, which operates a network of 57 paint stores in Central
America. Financial terms were not disclosed.
“This acquisition expands PPG’s operations in the growing Central
American region,” said Michael McGarry, PPG president and chief
operating officer. “The purchase enables PPG to leverage an extended
stores network to grow the GLIDDEN® brand in Panama and offer additional
PPG products to customers throughout the region.”
With this acquisition, PPG will operate 87 company-owned stores across
Belize, El Salvador, Guatemala, Honduras, Costa Rica, Nicaragua and
Panama. PPG plans to brand stores in Panama with the Glidden
brand, which is well recognized in the region, and offer products from
its protective and marine coatings business in stores throughout Central
America. Consorcio Latinoamericano operated as a concessionaire network
for PPG-Comex, the company’s architectural paint and coatings business
in Mexico and Central America. PPG completed its acquisition of Comex in
November.
PPG: BRINGING INNOVATION TO THE SURFACE.™
PPG Industries' vision is to be the world’s leading coatings company by
consistently delivering high-quality, innovative and sustainable
solutions that customers trust to protect and beautify their products
and surroundings. Through leadership in innovation, sustainability and
color, PPG provides added value to customers in construction, consumer
products, industrial and transportation markets and aftermarkets to
enhance more surfaces in more ways than does any other company. Founded
in 1883, PPG has global headquarters in Pittsburgh and operates in
nearly 70 countries around the world. Reported net sales in 2014 were
$15.4 billion. PPG shares are traded on the New York Stock Exchange
(symbol: PPG). For more information, visit www.ppg.com
and follow @PPGIndustries
on Twitter.
Forward-Looking Statements
Statements in this news release relating to matters that are not
historical facts are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 reflecting the
company’s current view with respect to future events or objectives and
financial or operational performance or results. The forward-looking
statements contained herein include statements relating to the expected
benefits of the Consorcio Latinoamericano acquisition. Actual events may
differ materially from current expectations and are subject to a number
of risks and uncertainties, including the failure to achieve the
expected benefits of the acquisition and the other risks and
uncertainties discussed in PPG Industries’ periodic reports on Form 10-K
and Form 10-Q, and its current reports on Form 8-K filed with the
Securities and Exchange Commission. Forward-looking statements speak
only as of the date of their initial issuance, and PPG Industries does
not undertake any obligation to update or revise publicly any
forward-looking statement, whether as a result of new information,
future events or otherwise.
Bringing innovation to the surface is a trademark of PPG
Industries Ohio, Inc.
Glidden is a registered trademark of
the PPG Group of Companies.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150602005305/en/
Source: PPG Industries, Inc.
PPG Industries, Inc.
Media:
Mark Silvey, PPG Corporate
Communications, 412-434-3046
silvey@ppg.com
or
Investors:
Vince
Morales, PPG Investor Relations, 412-434-3740
vmorales@ppg.com