logo
Share SHARE
FONT-SIZE Plus   Neg

PPG To Buy North American Architectural Coatings Business Of AkzoNobel

PPG Industries Inc. (PPG) announced it has reached a definitive agreement to acquire the North American architectural coatings business of AkzoNobel N.V. (AKZOY,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
Computer and printer maker Hewlett-Packard Co. said Thursday after the markets closed that its second quarter profit fell 21% from last year, hurt by lower revenue and costs related to the planned separation of the company. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Accounting software maker Intuit reported a plunge in third-quarter profit, hurt by impairment charges, even as results topped Wall Street estimates, driven by growth in small business segment amid a strong tax season. Struggling teen-apparel retailer Aeropostale Inc. (ARO), Thursday said its first-quarter loss narrowed from a year ago, driven largely by stronger margins even as revenues continued to plunge dropped. Nevertheless, the company lost almost one-fifth of its market value in after-hours trade, with the...
comments powered by Disqus
RELATED NEWS
Trade PPG now with 
Follow RTT