PPG Industries Closes Deft Takeover - Analyst Blog
May 21 2013 - 12:00PM
Zacks
Coatings giant PPG
Industries Inc. (PPG) has closed its earlier-announced
acquisition of specific assets of privately-held specialty coatings
company Deft Incorporated. The Pittsburgh-based company cut a
definitive deal to buy the assets in Apr 2013. The financial terms
of the transaction were undisclosed.
Irvine, Calif.-based Deft supplies structural primers, chrome-free
primers and military topcoats to the North American aviation
industry. It also makes wood finishes for the retail market.
The acquisition of Deft’s assets expands PPG Industries’ product
portfolio and strengthens its position as a leading coatings
supplier for the aerospace industry. Deft’s waterborne and
chrome-free technologies complement the company’s existing coatings
capabilities.
PPG Industries and Deft share a rich history of developing
technologies that support the growing adoption of improved
environmentally sustainable solutions by the aviation industry.
With Deft’s green coating systems, PPG Industries is now better
placed to offer a wide array of coatings solutions to its customers
with lower environmental impact.
PPG Industries has a diversified business, both in terms of
products offered and geographical presence. It has a leading
position in several paints and coatings end markets. PPG Industries
caters to the aviation industry through its aerospace products and
services business – PPG Aerospace – a global supplier with 18
coatings facilities across the planet.
PPG Industries is taking steps to grow its business inorganically
by making a number of acquisitions. It recently closed the
acquisition of the North American architectural coatings business
of Dutch paints company AkzoNobel, N.V. (AKZOY)
for $1.05 billion. This marked the second-largest acquisition in
the company’s history.
PPG Industries currently holds a short-term Zacks Rank #3
(hold).
Other companies in the chemical space that are worth considering
include Methanex Corporation (MEOH) and
Celanese Corporation (CE). Both retain a Zacks
Rank #1 (Strong Buy).
AKZO NOBEL NV (AKZOY): Get Free Report
CELANESE CP-A (CE): Free Stock Analysis Report
METHANEX CORP (MEOH): Free Stock Analysis Report
PPG INDS INC (PPG): Free Stock Analysis Report
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