MOSCOW (MRC) -- PPG Industries announced that it has reached a definitive agreement to acquire the remaining interest in Chemfil Canada Limited, a joint venture of PPG and Madinal Enterprises, as per producer's press release.
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.
As MRC informed earlier, in June 2015 PPG Industries agreed to acquire US-based IVC Industrial Coatings for an undisclosed amount.
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. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Reported net sales in 2014 were USD15.4 billion.
MRC