PPG acquires Champion CoatingsPITTSBURGH, April 17, 2007 –
Company strengthens growing presence, capabilities in protective and marine coatings
PPG Industries (NYSE: PPG) has acquired certain assets of Champion Coatings, Inc., Houston, Texas. Terms were not disclosed.
Champion Coatings is a manufacturer of high performance coatings for the rail, marine and overland industries. The company operates one manufacturing facility in Houston and employs approximately 35 people.
The acquired assets include inventory, accounts receivable, selected equipment, brand names, formulations and customer lists. Champion’s existing plant in Houston will not be acquired by PPG, but will continue to manufacture Champion products for PPG for the foreseeable future.
PPG, with last year’s acquisition of Ameron’s Performance Coatings and Finishes business, has become a growing participant in the protective and marine coatings business.
“We are continuing to accelerate our profitable growth in coatings by making strategic acquisitions,” said Rich Alexander, senior vice president, coatings. “By acquiring Champion, PPG will be able to leverage new opportunities and strengthen its overall presence in the global protective and marine coatings business.”About PPG
Pittsburgh-based PPG is a global supplier of paints, coatings, chemicals, optical products, specialty materials, glass and fiber glass. The company employs more than 30,000 people and has 125 manufacturing facilities and equity affiliates in more than 20 countries. Sales in 2006 were $11 billion. PPG shares are traded on the New York and Philadelphia stock exchanges (symbol: PPG). For more information, visit www.ppg.com