PPG Completes Acquisition of Colpisa
PITTSBURGH – PPG Industries announced that it and its subsidiary, PPG Industries Colombia, have completed the acquisition of the coatings businesses of Colpisa Colombiana de Pinturas and its affiliates, including Colpisa Ecuador. The parties first announced an acquisition agreement Aug. 4, 2011. Financial terms were not disclosed.
In acquiring Colpisa, PPG becomes the only major coatings supplier with a direct automotive OEM coatings manufacturing presence in Colombia and one of the leading providers of a full line of automotive refinish products in Colombia with an established distribution network, according to Tim Knavish, PPG Vice President, Automotive OEM Coatings, Americas. Colpisa has been a technology licensee of PPG automotive OEM coatings since 1996 and a distributor of PPG automotive refinish products since 2004. PPG now operates Colpisa’s coatings manufacturing facility in Itagüí, Colombia, which employs about 315 people.
Colpisa was founded in 1973 and manufactures and distributes coatings for OEM, automotive refinish and industrial customers in Colombia and Ecuador.