PPG Acquires Coatings Business in China
By Kerry Pianoforte
Published October 1, 2008
PPG Industries Inc. has acquired a private automotive coatings business in China. PPG will own all brands, the customer list, trademarks, technology and working capital of Bonny Coating-Made Co., Ltd., in Guangzhou, in southern China. Approximately 40 Bonny employees will transfer with the business. The acquisition will extend PPG’s distribution network and customer base, said J. Rich Alexander, senior vice president of coatings. The amount of the deal was not disclosed. The growing number of car owners in China will drive “sustained future growth,” Alexander said.
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