PPG Industries announced an agreement to acquire ICI plc’s refinish-coatings, industrial coatings and Grow Automotive solvents and thinners businesses for approximately $684 million (U.S.).
PITTSBURGH — PPG Industries Inc. announced an agreement to acquire ICI plc’s refinish-coatings, industrial coatings and Grow Automotive solvents and thinners businesses for approximately $684 million (U.S.). The acquisition, which is subject to regulatory approvals, does not include business units in India, Pakistan and Sri Lanka, due to complexities that include local ownership interests, PPG said.
The businesses to be acquired include a variety of powder and liquid industrial coatings assets in Latin America and Asia in addition to Grow Automotive, based in North America. Also included is a refinish-coatings manufacturing facility in the U.K.