Demonstrates PPG commitment to pretreatment coatings for automotive,
general-industrial customers
PITTSBURGH--(BUSINESS WIRE)--Aug. 20, 2015--
PPG Industries (NYSE:PPG) announced today that it has reached a
definitive agreement to acquire the remaining interest in Chemfil Canada
Limited, a joint venture of PPG and Madinal Enterprises. The transaction
is expected to close in the third quarter, subject to customary closing
conditions. Financial terms were not disclosed.
Chemfil Canada produces pretreatment products, as well as some general
industrial chemicals, for automotive original equipment manufacturers
(OEMs) and industrial customers in Canada.
The acquisition will enhance PPG’s pretreatment presence and
capabilities in Canada, and after closing the acquired products and
services will be offered under the PPG name. Also at the conclusion of
the transaction, an affiliate of Madinal Enterprises will own the
Windsor production facility and certain non-pretreatment business and
product lines that will continue to use the Chemfil name.
“Acquiring the pretreatment business of Chemfil Canada will enable PPG
to further strengthen its pretreatment offering and services in this
area for global automotive OEM and industrial customers,” said Cindy
Niekamp, PPG senior vice president, automotive coatings. “PPG looks
forward to enhancing supply capabilities for Chemfil customers and
providing them with access to PPG’s full portfolio of coatings products.”
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 timing of
and expected benefits of the Chemfil Canada acquisition. Actual events
may differ materially from current expectations and are subject to a
number of risks and uncertainties, including the satisfaction of the
conditions of the acquisition and other risks related to completion of
the acquisition and actions related thereto; the parties’ ability to
complete the acquisition on the anticipated terms and schedule,
including the ability to obtain any necessary regulatory approvals; the
ability 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/20150820005554/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