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PPG to Acquire Chinese Packaging Coatings Producer Bairun Chemical Co.

^{Published on 2010-10-19 06:20:37 - Market Wire}
 

PITTSBURGH--([ BUSINESS WIRE ])--PPG Industries (NYSE: PPG) has reached an agreement to acquire Bairun, a privately-held packaging coatings company in Gaoming District, Foshan, Guangdong in southern China. Financial terms were not disclosed. The deal is expected to close during the current quarter.

"It also provides us with manufacturing capability in southern China, which supplements our overall China capacity and improves customer logistics."

Approximately 70 Bairun employees involved with sales, research and development, quality control, technical support, manufacturing and warehousing will transfer with the business.

aThis acquisition will bolster PPGa™s leadership positions in the Chinese and Asian packaging coatings industry,a said Viktor Sekmakas, PPG senior vice president, industrial coatings and president, PPG Asia / Pacific. aThis acquisition positions PPG to continue a history of strong growth in the packaging coatings business in a large and growing region. Furthermore, this acquisition fits with PPGa™s global strategy to grow in coatings and specialty products, especially in emerging regions such as Asia / Pacific.a

aThe addition of Bairuna™s technology and solid position in two large segments in packaging coatings, the monobloc aerosol and tube (MAT) and lug cap, crown and general line (LCG) segments, complement PPGa™s strength in the food and beverage can segment,a added Douglas Pegg, vice president, packaging coatings. aIt also provides us with manufacturing capability in southern China, which supplements our overall China capacity and improves customer logistics.a

PPGa™s packaging coatings are used for containers for the beverage, food, cosmetic, pharmaceutical, paint and chemical industries.

About PPG

PPG Industriesa™ vision is to continue to be the worlda™s leading coatings and specialty products company. Founded in 1883, the company serves customers in industrial, transportation, consumer products, and construction markets and aftermarkets. With headquarters in Pittsburgh, PPG operates in more than 60 countries around the globe. Sales in 2009 were $12.2 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit [ www.ppg.com ].