Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

PPG To Buy North American Architectural Coatings Business Of AkzoNobel

RELATED NEWS
Trade PPG now with 

PPG Industries Inc. (PPG: Quote) announced it has reached a definitive agreement to acquire the North American architectural coatings business of AkzoNobel N.V. (AKZOY: Quote,AKZOY.PK), Amsterdam, in a deal valued at $1.05 billion.

The acquisition includes all AkzoNobel North American architectural coatings manufacturing and distribution facilities, paint stores, product lines and employees related to the production, sale and distribution of architectural coatings in the United States, Canada and the Caribbean. The acquisition includes the addition of about 600 AkzoNobel-owned paint stores creating a combined network of about 1,000 company-owned stores serving the North American market. PPG also will license the brands: DULUX, DEVOE architectural coatings, and SIKKENS architectural wood products.

The transaction has been approved by the boards of both companies and is expected to close in early second quarter 2013.

Click here to receive FREE breaking news email alerts for PPG Industries Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
After moving sharply lower in early trading on Wednesday, stocks have seen continued weakness over the course of the trading session. Will the pullback, the major averages are adding to the modest losses posted in the two previous sessions. With spending on private and public construction both showing notable decreases, the Commerce Department released a report on Wednesday showing an unexpected drop in U.S. construction spending in the month of August. Growth in U.S. manufacturing activity saw a notable slowdown in the month of September, according to a report released by the Institute for Supply Management on Wednesday, with the index of activity in the sector pulling back off a three-year high.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.