MOSCOW (MRC) -- PPG Industries announced that it has completed the acquisition of certain assets of Flood® Australia, which manufactures and distributes specialty wood stain and paint additive solutions for consumer, commercial and industrial applications, said the company on its site.
Financial terms were not disclosed.
"The acquisition of Flood Australia allows PPG to further expand its architectural paint and coatings offering and establish a position in wood care in Australia," said Michael McGarry, PPG president and chief operating officer. "We look forward to providing customers with the same quality products for which the Flood brand has become known in Australia."
Flood products in Australia are distributed at home improvement stores, including Bunnings, Masters, Mitre 10, Danks, and independent paint dealers. No manufacturing assets or facilities were included in the acquisition.
PPG currently manufactures and distributes Flood wood care products in North America.
As MRC informed before, U.S. chemicals maker PPG Industries Inc had formally finalized its acquisition of Mexican paints maker Consorcio Comex for USD2.3 billion. The Pittsburgh-based PPG Industries said it had received a favorable ruling from Mexico's competition watchdog to complete the purchase, which came after the Mexican company's deal to sell to U.S. rival Sherwin-Williams Co fell through.
Flood Australia manufactures and distributes specialty wood stain and paint additive solutions for consumer, commercial and industrial applications.
PPG already manufactures and distributes Flood wood care products in North America.
PPG Industries, Inc. (PPG) is a global supplier of protective and decorative coatings. Performance Coatings, Industrial Coatings and Architectural Coatings- EMEA segments supply protective and decorative finishes for customers in a range of end use markets, including industrial equipment, appliances and packaging; factory-finished aluminum extrusions and steel and aluminum
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