PITTSBURGH – PPG Industries announced that it has reached a definitive agreement to acquire certain assets of Spraylat Corp., a privately-owned industrial coatings company based in Pelham, NY. Financial terms of the transaction, expected to close later this year, were not disclosed.
The announcement by PPG was made Oct. 17. “Acquiring Spraylat furthers PPG’s strategy to remain a leading industrial coatings supplier,” Richard Zoulek, PPG vice president, industrial coatings, Americas said in a statement. “This transaction strengthens PPG’s position in key end-use markets such as automotive parts while expanding PPG’s overall liquid and powder coatings capabilities.”
Spraylat's business units include: Liquid Coatings, Powder Coatings, Conductive Coatings and Mirror Coatings. Its products are also used in the metal office furniture, storage, signage and automotive markets. Founded in 1936, Spraylat posted annual sales of approximately $125 million in 2011.
PPG specializes in architectural, industrial and performance coatings, as well as optical and specialty materials, commodity chemicals and glass. Founded in 1883, PPG shares are traded on the NYSE (PPG). Sales in 2011 were $14.9 billion.
Have something to say? Share your thoughts with us in the comments below.