PITTSBURGH--(BUSINESS WIRE)--Sep. 1, 2015--
PPG Industries (NYSE:PPG) today announced that it has completed its
acquisition of IVC Industrial Coatings, Inc., a U.S.-based specialty
powder and liquid coatings manufacturer with 2014 sales of more than
$100 million. Financial terms were not disclosed.
“This acquisition brings industry-leading powder coatings and a
best-in-class manufacturing capability that will strengthen PPG’s
position in the industrial coatings market,” said Shelley Bausch, PPG
vice president, global industrial coatings. “We have been impressed with
IVC’s strong customer focus and overall business performance, and
believe that together we can offer even greater solutions for our
customers.”
IVC, based in Brazil, Indiana, focuses on the development, manufacture
and sale of powder and liquid coatings for the general industrial
segment. Its industry-leading coatings are used on a wide variety of
products, including metal office furniture, material handling and
storage products, automotive parts, motorcycles, industrial containers,
small appliances and electronics such as printers, servers and
audio-visual equipment. IVC employs more than 300 people and operates
five plants in the U.S. (two in Brazil, Indiana, and one each in Grand
Haven, Michigan; Atlanta, Georgia; and Casa Grande, Arizona), one plant
in Guangdong, China, and a small development lab in Manchester, England.
The company also has operations in Malaysia through a joint venture.
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 more
than 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 IVC Industrial Coatings, Inc., acquisition. Actual
events may differ materially from current expectations and are subject
to a number of risks and uncertainties, including the failure of PPG
Industries 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150901006695/en/
Source: PPG Industries
Media:
PPG Corporate Communications
Mark Silvey,
412-434-3046
silvey@ppg.com
or
Investors:
PPG
Investor Relations
Scott Minder, 412-434-3466
sminder@ppg.com