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MOSCOW (MRC) -- PPG Industries has
named John Stephenson to the post of director/acquisition integration, according
to Chemweek with reference to the
company's statement.
In this new role, Stephenson will oversee the
integration of PPG acquisitions, including the recently-announced deal for
Tikkurila. He will report to PPG chairman and CEO Michael
McGarry.
Stephenson was most recently business controller/industrial
coatings at PPG. He joined the company in 1985 and has served in a variety of
finance functions across its operating segments.
As MRC wrote before,
Finnish paints maker Tikkurila said in early February, 2021, that
Pittsburgh-based PPG had raised its all-shares offer for the company to 34.00
euros per share, topping a rival bid from Akzo Nobel.
We remind
that in February 2020, PPG completed its
acquisition of Industria Chimica Reggiana (ICR, Reggio Emilia, Italy), a maker
of automotive refinish products. Financial terms of the deal, including purchase
price, were not disclosed. The deal was announced on 8 January. ICR was founded
in 1961 and employs about 180 people. ICR manufactures automotive refinish
products, including putties, primers, basecoats and clear coats. It also makes a
range of coatings, enamels and primers for light commercial vehicles and other
light industrial coatings applications. ICR employs about 180 people and sells
its products in more than 70 countries in Europe, Africa, the Middle East, the
US and Latin America.
We also remind that Russia's output of chemical
products rose
in November 2020 by 9.5% year on year. At the same time, production of basic
chemicals increased in the first eleven months of 2020 by 6.6% year on year,
according to Rosstat's data. According to the Federal State Statistics Service
of the Russian Federation, polymers in primary form accounted for the greatest
increase in the January-November 2020 output. November production of polymers in
primary form rose to 896,000 tonnes from 852,000 tonnes in October. Overall
output of polymers in primary form totalled 9,240,000 tonnes over the stated
period, up by 17.1% year on year. |
