PPG seeks majority interest in LJF's sealant unit

PPG seeks a majority interest in LJF's automotive and aerospace sealant unit.
PPG seeks a majority interest in LJF's automotive and aerospace sealant unit. | Courtesy of Caldera.com

PPG Industries said Friday that the company has submitted an offer to acquire a majority interest in Le Joint Francais’s (LJF) automotive and aerospace sealant unit.

LJF, a branch of the Hutchinson Group, produces sealants for a wide range of automotive and aerospace businesses. LJF is based in Bezons, France, where the company employs over 200 people in its automotive and aerospace division.

If the PPG offer succeeds, a separate LJF spin-off company specifically dedicated to automotive and aerospace sealants would be created, with PPG owning a majority stake. It also would be based in Bezons, France.

LJF and PPG have collaborated previously, as LJF has been a licensee of PPG Industries’ aerospace adhesive innovations for several years.

PPG officials estimate that they will reach an agreement with LJF in the second half of 2015.

PPG is one of the leading companies in the coatings and specialty-materials industry. Originally established in Pittsburgh in 1883, PPG’s business extends to approximately 70 countries worldwide. Net sales reached $15.4 billion in 2014.

Neither PPG nor LJF has disclosed any financial terms to the public.

“This venture is a natural progression for the two companies, as LJF has been a licensee of PPG technology for more than 60 years,” Michael McGrarry, chief operating officer at PPG, said. “This would allow us to serve our aerospace and automotive customers with greater geographic reach and with a wider array of automotive products.”

Organizations in this story

PPG Industries, Inc. 1 PPG Pl Pittsburgh, PA - 15222

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