PPG Industries today announced that it has reached a definitive agreement to acquire certain assets of Spraylat Corp., a privately-owned industrial coatings company based in Pelham, N.Y. The transaction is expected to close in late 2012 subject to regulatory approval and customary closing conditions. Financial terms were not disclosed.
“Acquiring Spraylat furthers PPG’s strategy to remain a leading industrial coatings supplier,” said Richard Zoulek, PPG vice president, industrial coatings, Americas. “This transaction strengthens PPG’s position in key end-use markets such as automotive parts while expanding PPG’s overall liquid and powder coatings capabilities.”
Zoulek added, “Spraylat’s strong customer base, dedication to innovation and service, combined with PPG’s global infrastructure, will create growth opportunities.”
Spraylat holds a strong position in industrial markets such as automotive parts, architectural powder coatings, transportation, and general industrial niches, including mirror, electronic device, metal office furniture and storage, and sign coatings, according to Zoulek.
Source: http://www.ppg.com