Pittsburgh-based PPG Industries, a leading coating company, has announced the completion of its acquisition of IVC Industrial Coatings Inc., a specialty powder and liquid coatings manufacturer whose 2014 sales exceeded $100,000, the company announced Wednesday.
“This acquisition brings industry-leading powder coatings and a best-in-class manufacturing capability that will strengthen PPG’s position in the industrial coatings market,” Shelley Bausch, PPG vice president of global industrial coatings, said. “We have been impressed with IVC’s strong customer focus and overall business performance, and believe that together we can offer even greater solutions for our customers.”
Founded in 1870 as the Indianapolis Varnish Company, the Indiana-based IVC develops, manufactures and sells coating products for automotive, furniture and electronics industries — products purchased every day by consumers in the form of small appliances, computer and audio-visual equipment. IVC has more than 300 employees in five international plants plus a development lab in Manchester, England.
PPG, founded in 1883, aspires to deliver high quality, innovative and sustainable solutions to protect and beautify products and surroundings through leadership in innovation, sustainability and color. With global headquarters in Pittsburgh, Pennsylvania, it operates in over 70 nations; its reported 2014 net sales were $15.4 billion.
Financial terms of the transaction were not disclosed.
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