PPG to acquire Chinese manufacturer, distributor of architectural coatings PITTSBURGH, April 28, 2006
– PPG Industries is expanding its presence in the Chinese architectural coatings market with today’s announcement that it has agreed to acquire certain assets of Shanghai Sunpool Building Material Co., Ltd., and its associated companies, including Shanghai IDI International Co., Ltd., and a group of Shanghai-based businesses that manufacture and distribute coatings and building materials. Terms were not disclosed.
Often referred to as Sunpool in China, IDI is the sole distributor of Master’s Mark
architectural paints by PPG, a premium brand available in major home centers in urban areas throughout the country.
“This acquisition will significantly enhance our distribution and manufacturing capabilities in China for both architectural and high-performance coatings,” said J. Rich Alexander, PPG senior vice president for coatings. “In addition, we are acquiring excellent brands that IDI-Sunpool has developed and sells to the retail, home center and dealer channels.”
The acquisition will include the O’need
brands as well as certain manufacturing assets at IDI’s production facility and a network of warehouses throughout China.
Alexander said Xun Wang, who founded IDI in 1993, will join PPG as its managing director of architectural coatings in China.
“Her knowledge and experience, combined with PPG's resources, will enable us to accelerate our growth in this key emerging market," Alexander said.
Pittsburgh-based PPG is a major North American supplier of architectural coatings, manufacturing paints and stains under the Pittsburgh Paints, Olympic, Porter, Monarch and Lucite
brands. PPG is also a global supplier of coatings for the automotive, aerospace, industrial and packaging industries. In addition, PPG manufactures glass, fiber glass and chemicals, with 110 manufacturing facilities and equity affiliates in more than 20 countries. Sales in 2005 were US$10.2 billion.
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