PPG To Launch Joint Venture With AECI Ltd.
PITTSBURGH - PPG Industries Inc. and AECI Ltd. of Johannesburg, South Africa, announced plans to launch an automotive-refinish, automotive OEM and industrial-coatings joint venture to be based at AECI's technical coatings division at Port Elizabeth, South Africa. Terms were not disclosed. PPG said it will hold an equity interest in a new business, AECI Coatings (Proprietary) Ltd., created from AECI's existing Dulux technical coatings unit.
The companies said the venture will consolidate a long-term strategic alliance between Dulux and PPG in South Africa. The venture business will provide PPG products and process technology to AECI coatings customers in the automotive and technical sectors, including industrial coatings, adhesives, sealants, and metal pretreatments. Paolo Candotti, managing director of Dulux (Pty) Ltd., will become managing director of AECI Coatings, the companies said.