PPG Industries (NYSE:PPG) today announced that it has completed its acquisition of IVC Industrial Coatings, Inc., a U.S.-based specialty powder and liquid coatings manufacturer with 2014 sales of more than $100 million. Financial terms were not disclosed.
"This acquisition brings industry-leading powder coatings and a best-in-class manufacturing capability that will strengthen PPG's position in the industrial coatings market," said Shelley Bausch, PPG vice president, global industrial coatings. "We have been impressed with IVC's strong customer focus and overall business performance, and believe that together we can offer even greater solutions for our customers."
IVC, based in Brazil, Indiana, focuses on the development, manufacture and sale of powder and liquid coatings for the general industrial segment. Its industry-leading coatings are used on a wide variety of products, including metal office furniture, material handling and storage products, automotive parts, motorcycles, industrial containers, small appliances and electronics such as printers, servers and audio-visual equipment. IVC employs more than 300 people and operates five plants in the U.S. (two in Brazil, Indiana, and one each in Grand Haven, Michigan; Atlanta, Georgia; and Casa Grande, Arizona), one plant in Guangdong, China, and a small development lab in Manchester, England. The company also has operations in Malaysia through a joint venture.
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