PPG Acquires Asian Maker of Specialty Wood Coatings

PPG Industries has acquired Crown Coating Industries of Singapore, a privately held manufacturer of specialty wood coatings.

Terms were not disclosed.

Incorporated in 1991, Crown Coating leads the Asian flooring industry in radiation-cured, or UV, coatings.

"Crown enables us to provide manufacturers in Asia with local supply of the high-quality coatings that customers have come to expect from PPG," said J. Rich Alexander, senior vice president, coatings. "It also enables us to grow our presence in the global wood coatings business, where our technology is considered the industry leader."

In addition to acquiring Crown's assets, PPG has retained the services of Crown's managing director, Lim Seng Phong, and its director, Ricky Wong.

Employing approximately 40 people, Crown operates facilities in Singapore and Shanghai, China.

Pittsburgh-based PPG is a global leader in the supply of wood coatings for hardwood floors, interior doors, wood windows and doors, and paneling. In addition, PPG is a major global supplier of automotive, aerospace, industrial and packaging coatings, and a leading North American producer of architectural coatings. PPG also manufactures flat and fabricated glass, continuous-strand fiber glass and chemicals. Sales were US$9.5 billion in 2004.

600450 PPG Acquires Asian Maker of Specialty Wood Coatings glassonweb.com
Date: 3 August 2005
Source: Businesswire.com

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