logo
Share SHARE
FONT-SIZE Plus   Neg

PPG To Buy North American Architectural Coatings Business Of AkzoNobel

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Gas explosion in Fresno in California injured 11 people on Friday afternoon. Pacific Gas and Electric Co. (PG&E) said workers who are not affiliated with the company have struck a 12-inch natural gas transmission pipeline and the gas leaked was ignited due to the dig-in. Verizon Communications' FiOS TV service has modified its programming bundles and will now offer new packages so that users can subscribe only for channels they prefer to watch. Instagram, the photo sharing app owned by Facebook, has updated its community guidelines to disallow nudity and harassment in uploaded photos and pictures, as well as cyber bullying.
comments powered by Disqus
RELATED NEWS
Trade PPG now with 
Follow RTT