PITTSBURGH — PPG Industries Italia S.r.l., a Milan-based subsidiary of PPG Industries Inc., has acquired a majority stake in Bellaria S.p.A., a privately held powder-coatings manufacturer based in Felizzano, Italy. The transaction gives PPG a 60% interest in Bellaria, which has annual sales of approximately $15 million (U.S.) and employs about 70 people.
PPG said Matteo Codrino will continue as managing director of the business. Michael A. Ludlow, PPG vice president of industrial coatings, said the acquistion provides “an immediate, significant powder coatings presence for PPG in Europe, while broadening our technology and product capabilities.” Ludlow said PPG and Bellaria, founded in 1989, have cooperated in supplying complementary coatings to the appliance, automotive-component, agricultural-equipment and other markets.
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