PPG Completes Acquisition of Automotive Specialty Materials Manufacturer REVOCOAT
By Business Wire News
PPG Industries (NYSE:PPG) today announced that it has completed the acquisition of REVOCOAT, a global supplier of sealants, adhesives and damper products for the automotive industry, from the AXSON Group. Financial terms were not disclosed.
“The addition of REVOCOAT to our automotive coatings business strengthens PPG’s global automotive adhesive and sealants product and technology offerings, enabling us to better serve our automotive customers around the world,” said Cindy Niekamp, PPG senior vice president, automotive original equipment manufacturer (OEM) coatings.
REVOCOAT, headquartered in France, is a world leader in automotive adhesives and sealants and offers a range of automotive assembly products such as complementary epoxy-based products, polyurethanes and water-based emulsions. REVOCOAT employs more than 500 people and operates eight manufacturing facilities and one research and development center.
PPG: BRINGING INNOVATION TO THE SURFACE.(TM)
PPG Industries’ vision is to be the world’s leading coatings company by consistently delivering high-quality, innovative and sustainable solutions that customers trust to protect and beautify their products and surroundings. Through leadership in innovation, sustainability and color, PPG provides added value to customers in construction, consumer products, industrial and transportation markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Reported net sales in 2014 were $15.4 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit www.ppg.com and follow @PPGIndustries on Twitter.
Statements in this news release relating to matters that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 reflecting the company’s current view with respect to future events or objectives and financial or operational performance or results. The forward-looking statements contained herein include statements relating to the expected benefits of the REVOCOAT acquisition. Actual events may differ materially from current expectations and are subject to a number of risks and uncertainties, including the ability of PPG Industries to achieve the expected benefits of the acquisition and the other risks and uncertainties discussed in PPG Industries’ periodic reports on Form 10-K and Form 10-Q, and its current reports on Form 8-K filed with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date of their initial issuance, and PPG Industries does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
Bringing innovation to the surface is a trademark of PPG Industries Ohio, Inc.