PITTSBURGH – PPG Industries has reached a definitive agreement to acquire IVC Industrial Coatings Inc., a U.S.-based specialty powder and liquid coatings manufacturer with 2014 sales of more than $100 million. PPG has also reached an agreement to acquire Cuming Microwave Corp., Avon, MA, and its wholly owned subsidiary Cuming-Lehman Chambers Inc., based in Chambersburg, PA. The acquisitions are expected to close in the third quarter, subject to customary closing conditions. Financial terms were not disclosed.
IVC is a privately owned company founded in 1870 as the Indianapolis Varnish Co. Based in Brazil, IN, the company focuses on the development, manufacture and sale of powder and liquid coatings for the general industrial segment. Its coatings are used on a wide variety of products such as metal office furniture, material handling and storage products, automotive parts, motorcycles, industrial containers, small appliances, and electronics such as printers, servers and audio-visual equipment. IVC operates five plants in the United States (two in Brazil, IN, and one each in Grand Haven, MI; Atlanta, GA; and Casa Grande, AZ), one plant in Guangdong, China, and a small development lab in Manchester, England. The company also has operations in Malaysia through a joint venture.
Cuming Microwave is a global supplier of specialty coatings and materials that absorb microwaves and radio waves, such as radar. The company’s products are used in military aircraft and have applications in end-uses such as electronics, telecommunications, medical and automotive. The company operates three manufacturing facilities in Avon and maintains an office in Chambersburg.