PITTSBURGH - PPG Industries (NYSE:PPG) today announced that it has completed the acquisition of certain assets of FLOOD® Australia, which manufactures and distributes specialty wood stain and paint additive solutions for consumer, commercial and industrial applications. Financial terms were not disclosed.
"The acquisition of Flood Australia allows PPG to further expand its architectural paint and coatings offering and establish a position in wood care in Australia," said Michael McGarry, PPG president and chief operating officer. "We look forward to providing customers with the same quality products for which the Flood brand has become known in Australia."
Flood products in Australia are distributed at home improvement stores, such as Bunnings, Masters, Mitre 10, Danks and independent paint dealers. No manufacturing assets or facilities were included in the acquisition.
PPG currently manufactures and distributes Flood wood care products in North America.
PPG: BRINGING INNOVATION TO THE SURFACE.™
PPG Industries' vision is to be the world's leading coatings company by consistently delivering high-quality, innovative and sustainable solutions that customers trust to protect and beautify their products and surroundings. Through leadership in innovation, sustainability and color, PPG provides added value to customers in construction, consumer products, industrial and transportation markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Reported net sales in 2014 were $15.4 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit www.ppg.com and follow @PPGIndustries on Twitter.
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