PPG Industries Inc. (PPG) announced Thursday that it has reached a definitive agreement to acquire certain assets of Deft Incorporated, a privately-owned specialty coatings company based in Irvine, Calif. Financial terms were not disclosed.
Deft's primary business is supplying structural primers and military topcoats to the North American aviation industry, and it has smaller architectural and industrial coatings businesses.
The transaction is expected to close in the second quarter subject to customary closing conditions.
Founded in 1938, Deft Incorporated also manufactures wood finishes for the retail market. The company employs 140 people.
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