PPG Industries today announced that it has reached a definitive agreement to acquire certain assets of Deft Incorporated, a privately-owned specialty coatings company based in Irvine, Calif. Deft’s primary business is supplying structural primers and military topcoats to the North American aviation industry, and it has smaller architectural and industrial coatings businesses.
“Acquiring Deft will advance PPG’s strategy to remain a leading aerospace coatings supplier,” said Barry Gillespie, PPG vice president, aerospace. “Deft’s waterborne and chrome-free technologies complement PPG’s existing coatings capabilities and will provide PPG with a broader product portfolio, particularly within the aerospace industry.”
Gillespie added, “The aviation industry continues to drive toward improved environmentally sustainable solutions, and both PPG and Deft have long histories of developing technologies that support this trend. Deft’s ‘green’ coating systems support PPG’s ongoing commitment to sustainability, and we will be able to offer an even wider selection of innovative coatings that benefit our customers and lessen the impact on the environment.”
The transaction is expected to close in the second quarter subject to customary closing conditions. Financial terms were not disclosed.
PPG Aerospace is the aerospace products and services business of PPG Industries and a diverse, global supplier with 18 coatings facilities around the world. PPG Aerospace – PRC-DeSoto is the leading global producer of aerospace sealants, coatings, and packaging and application systems. PPG Aerospace – Transparencies is the world’s largest supplier of aircraft windshields, windows and canopies.
Source: http://www.ppg.com/