Photo By IVC
PITTSBURGH - PPG Industries has completed its acquisition of IVC Industrial Coatings. The financial terms of the deal between the two wood and industrial coatings manufacturers were not disclosed.
The acquisition bid was initially announced in June. Based in Brazil, IN, IVC specializes in specialty powder and liquid coatings for the contract furniture, storage and industrial products markets. Founded in 1870, IVC employs more than 300 people and operates five U.S. plants, including two in Indiana, and one in Michigan, Georgia and Arizona, as well as a plant in China. The company also has a small development lab in England, along with joint venture operations in Malaysia. 2014 sales were more than $100 million.
“This acquisition brings industry-leading powder coatings and a best-in-class manufacturing capability that will strengthen PPG’s position in the industrial coatings market,” said Shelley Bausch, PPG vice president, global industrial coatings. “We have been impressed with IVC’s strong customer focus and overall business performance, and believe that together we can offer even greater solutions for our customers.”
Founded in 1883, PPG (NYSE:PPG) has global headquarters in Pittsburgh and operates in more than 70 countries around the world. Reported net sales in 2014 were $15.4 billion.
Have something to say? Share your thoughts with us in the comments below.