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PPG acquires German automotive wheel coatings producer Cetelon

April 20/2021

MOSCOW (MRC) -- PPG completed the acquisition of Germany-based automotive wheel coatings manufacturer Cetelon Lackfabrik, said the company. 

PPG announced that it has acquired Cetelon Lackfabrik GmbH, a manufacturer of coatings for automotive and light truck wheel applications. Financial details of the transaction were not disclosed.

Cetelon develops and manufactures a wide range of coating systems for the wheel industry, including certain proprietary technologies. It operates production and sales offices in Ditzingen, Germany, from which it serves many leading wheel suppliers worldwide. Founded in 1948 in Stuttgart, Germany, Cetelon became part of the Berlac Group in 2011. The company employs approximately 95 people globally.

"The strategic acquisition of Cetelon will allow PPG to further build upon its existing coatings product portfolio, liquid and powder coating technologies and color matching capabilities, said Rebecca Liebert, PPG executive vice president. Cetelons long-standing and established customer relationships will be complementary to PPGs existing customer base and global presence, and will allow us to continue to deliver industry-leading solutions and drive growth within the transportation industry."

"The sale of Cetelon to PPG is a great result for both companies, said Daniel Kesselring, chairman, Berlac Group. While PPG gains Cetelons long-standing expertise in the wheel industry, Cetelon will benefit from a highly complementary product offering and from PPGs global reach."

As MRC informed earlier, 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 remind that Russia's output of chemical products rose in February 2021 by 5.3% year on year. Thus, production of basic chemicals increased year on year by 7.5% in the first two months of 2021, according to Rosstat's data. Last month's production of polymers in primary form in Russia was 861,000 tonnes versus 196,000 tonnes in January. Overall output of polymers in primary form totalled 1,770,000 tonnes over the stated period, up by 8.4%  year on year.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, crude oil, paints and coatings, neftegaz, petrochemistry, PPG, PPG Industries Italia.
Category:General News
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