New joint venture is called Sealants Europe SAS
PITTSBURGH--(BUSINESS WIRE)--Oct. 1, 2015--
PPG Industries (NYSE:PPG) announced today that it has completed its
acquisition of a majority interest in the aerospace and automotive
sealants and adhesives business of Le Joint Français (LJF), a long-term
licensee of PPG’s aerospace sealant technology. The new joint venture is
called Sealants Europe SAS. Financial terms were not disclosed.
“We are excited about the potential benefits that Sealants Europe SAS
holds for customers and our business,” said Michael McGarry, PPG
president and chief executive officer. “This venture will deliver
enhanced service to our aerospace customers in the region, greater reach
to supply sealants and adhesives, and an expanded automotive products
portfolio.”
Sealants Europe SAS employs more than 200 people and will continue to
operate in Bezons, France.
LJF is headquartered in France and is part of the Hutchinson Group, a
world leader in sealing systems, vibration, acoustic and thermal
insulation, fluid transfer systems, transmission and mobility.
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
colour, 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 PPG
Industries’ 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 venture. Actual events may differ materially from
current expectations and are subject to a number of risks and
uncertainties, including the ability of PPG Industries to achieve the
expected benefits of the transaction; 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/20151001006458/en/
Source: PPG Industries
Media:
PPG Corporate Communications, EMEA
Ken
Armistead, +44-1924-354848
EMEACommunications@ppg.com
or
PPG
Corporate Communications
Mark Silvey, 412-434-3046
silvey@ppg.com
or
Investors:
PPG
Investor Relations
Scott Minder, 412-434-3466
sminder@ppg.com