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Article: PPG to acquire Ameron coatings business.(INDUSTRY & COMPANY NEWS)
- Article from:
- Finishing Today
- Article date:
- August 1, 2006
CopyrightCOPYRIGHT 2006 BNP Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PPG Industries has reached an agreement to acquire the Performance Coatings and Finishes business of Ameron International Corp., Pasadena, Calif., for a purchase price of US$115 million plus working capital adjustment. The business operates manufacturing sites in the U.S., Europe, Australia and New Zealand, in addition to warehouses and offices around the world, some of which would remain with Ameron after the sale. The agreement also includes Ameron's 40% ownership in Oasis-Ameron, Ltd., located in Saudi Arabia, subject to the majority shareholders' approval.
PPG has also acquired the ...