1 October 1998: PPG Industries, the US-based producer of coatings, fibre glass, flat glass and chemicals, has completed its previously announced acquisition of the technical coating business of Orica …
1 October 1998: PPG Industries, the US-based producer of coatings, fibre glass, flat glass and chemicals, has completed its previously announced acquisition of the technical coating business of Orica Ltd., Melbourne, Australia, for about US$ 150 million. According to a recent press report, PPG has purchased Orica“s automotive refinish, automotive original equipment, coil, packaging and production coatings business, with annual sales of about US$ 100 million. The transaction included manufacturing and related facilities at Clayton, near Melbourne, the report said. Douglas C. Hepper, general manager of automotive refinishes, said last month that the acquisition would accelerate PPG“s automotive and industrial coatings expansion in the southern Pacific region. Pittsburgh-based PPG has production operations in 21 countries and annual sales of about US$ 7.5 billion.