PPG to Acquire Former Courtaulds Aerospace Business from Akzo Nobel
PPG Industries announced an agreement to acquire PRC-DeSoto International.
PITTSBURGH — PPG Industries Inc. announced an agreement to acquire PRC-DeSoto International Inc., formerly Courtaulds Aerospace Inc., from Akzo Nobel N.V. for $512.5 million (U.S.).
PRC-DeSoto, purchased by Akzo Nobel as part of its acquisition last year of Courtaulds plc, is a producer of coatings and sealants for aircraft and sealants for architectural insulating glass units. The business, based in Glendale, CA, operates manufacturing facilities in the United States and Europe, and has annual sales of approximately $240 million (U.S.). The business employs about 1,200 people.