PPG Industries (PPG) To Acquire Alpha Coating Technologies
Zacks Investment Research | Feb 05, 2020 10:04PM ET
PPG Industries Inc. (NYSE:PPG) has inked a deal to acquire Alpha Coating Technologies, LLC (Alpha). The transaction is anticipated to conclude in first-quarter 2020, subject to customary closing conditions. The financial terms of the deal have been kept under wraps.
Alpha focuses on development, manufacture and sale of powder coatings for light industrial applications, heat sensitive substrates; toll manufactures powder coatings and medium density fiberboard. Notably, this West Chicago, IL-based company, founded in 2000, has employee strength of about 35 people.
Per management, Alpha’s best-in-class service, technology and rapid turnaround color matching capabilities is expected to strategically complement PPG Industries.
PPG Industries is taking steps to expand business through strategic acquisitions. Notably, the company completed the buyouts of Whitford Worldwide and Hemmelrath in early 2019. It also completed the purchase of specialty materials maker, Dexmet Corporation, in third-quarter 2019. The company also recently closed the buyout of Italy-based paint and coating manufacture, Industria Chimica Reggiana.
Shares of PPG Industries have rallied 19.1% in the past year against the Zacks Investment Research
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