PPG Industries Buys Brazil Coatings Firm

Glass, paint and sealants maker PPG Industries Inc. said Thursday it acquired the architectural and industrial coatings businesses of Brazil's Renner Sayerlack SA in a move to broaden its coatings operations in Latin America.

Financial terms weren't disclosed.

"Renner is a very strong, well-regarded architectural paint brand in Brazil, Chile and Uruguay," said Charles E. Bunch, chairman and chief executive of PPG. "This acquisition fits well with our strategy to profitably grow our coatings businesses and continue to expand our presence in emerging regions."

Renner Sayerlack's architectural and industrial coatings businesses operate three manufacturing plants in Gravatai, Brazil; Santiago, Chile; and Montevideo, Uruguay. Each plant also serves as a distribution center. The businesses, which employ about 850 people, sell through independent dealers, construction material suppliers and brand licensees, similar to franchise stores.

Read the entire news on the source link below.

600450 PPG Industries Buys Brazil Coatings Firm glassonweb.com
Date: 22 January 2007
Source: Chron.com

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