18 February 1999: US-based PPG Industries Inc. said it acquired the commercial transport refinish coatings business of Sigma Coatings BV, a subsidiary of Belgian refiner PetroFina SA.
Terms were not …
18 February 1999: US-based PPG Industries Inc. said it acquired the commercial transport refinish coatings business of Sigma Coatings BV, a subsidiary of Belgian refiner PetroFina SA. Terms were not disclosed, PPG said in a statement. PPG acquired the portion of Sigma“s business involving finishes used for heavy-duty trucks in Belgium, the Netherlands and the United Kingdom. About 25 Sigma personnel joined PPG with the transaction, which included no fixed assets, the company said. Meanwhile, PPG Industries“ fibre glass research, technical services and engineering functions are being merged in a new science and technology organization “to strengthen synergies and efficiency while aligning these activities more closely and cost-effectively with global business strategies,” Kevin F. Sullivan, vice president of fibre glass, said recently. Heading the new unit as director of fibre glass science and technology is Charles H. Smith, formerly director of fibre glass research. He will be based at PPG“s Pittsburgh, Pennsylvania headquarters. According to Sullivan, 56 fibre glass scientists, engineers and technicians will transfer to technical facilities in North Carolina and the Pittsburgh area from the O“Hara Township research center, which will close by mid-1999. He said that as a consequence of the functional restructuring and the recent shutdown of the research centre“s melting furnace, 25 jobs would be eliminated at the O“Hara facility. Ten other positions will be eliminated at or prior to closure of the facility. “Twenty-seven scientists, engineers and technicians will relocate to the technology centre near our fibre glass plant at Shelby, North Carolina, and 12 to a similar centre at the Lexington plant,” Sullivan said. “Another 17 people will be transfered to the glass research centre near Pittsburgh, continuing to work on fibre glass-related research. “Strong downward pricing pressure from Asian imports is rapidly changing today“s competitive environment,” Sullivan said. “Customer expectations require fast-paced, disciplined process and product development integrated closely with manufacturing, marketing and customer service.” “The decision to close the O“Hara facility was not taken lightly. However, a more focused integrated science and technology organization is vital for sustaining and increasing our competitive advantage for the benefit of customers around the world, and to assuring a profitable future for PPG“s fibre glass businesses.”