PPG to Acquire Alpha Coating Technologies, Light Industrial Powder Coatings Manufacturer
PITTSBURGH--(BUSINESS WIRE)--Feb 5, 2020--
PPG (NYSE: PPG) today announced that it has reached a definitive agreement to acquire Alpha Coating Technologies, LLC (“Alpha”), a manufacturer of powder coatings for light industrial applications and heat sensitive substrates. The transaction is expected to close in the first quarter of 2020, subject to customary closing conditions. Financial terms were not disclosed.
Founded in 2000, Alpha focuses on the development, manufacture and sale of powder coatings for light industrial applications; medium density fiberboard and heat sensitive substrates; and toll manufactures powder coatings for metal and light industrial applications. Alpha employs approximately 35 people at its operations in West Chicago, Illinois.
“Alpha’s best-in-class service, technology and quick turnaround color matching capabilities will be a strategic complement to PPG,” said Kevin Braun, PPG vice president, Industrial Coatings, Americas. “We are pleased to welcome Alpha into the PPG family and continue providing our customers with outstanding products and services.”
PPG: WE PROTECT AND BEAUTIFY THE WORLD™
At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for 135 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $15.1 billion in 2019. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.
The forward-looking statements contained herein include statements relating to the timing of and expected benefits of the Alpha Coating Technologies acquisition. Actual events may differ materially from current expectations and are subject to a number of risks and uncertainties, including the satisfaction of the conditions of the acquisition and other risks related to completion of the acquisition and actions related thereto; the parties’ ability to complete the acquisition on the anticipated terms and schedule; the ability of PPG to achieve the expected benefits of the acquisition; and the other risks and uncertainties discussed in PPG’s periodic reports on Form 10-K and Form 10-Q and its current reports on Form 8-K filed with the Securities and Exchange Commission.
We protect and beautify the world is a trademark and the PPG Logo is a registered trademark of PPG Industries Ohio, Inc.
CATEGORY Industrial Coatings
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PUB: 02/05/2020 08:31 AM/DISC: 02/05/2020 08:31 AM