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Pittsburgh, PA, United States, 2011/06/01 - Transaction strengthens regional presence, enhances ability to serve customers (NYSE: PPG). NYSE: PPG
PPG Industries today announced that it has acquired the business of Ducol Coatings South Africa (PTY) Ltd., which has served as an importer and distributor of PPG’s automotive refinish products in South Africa since 2003. Financial terms were not disclosed.
Ducol Coatings, based in Krugersdorp, northwest of Johannesburg, was formed in 1990 and has been active throughout South Africa and in Namibia.
“We are pleased with the acquisition of the Ducol Coatings business, as this investment illustrates PPG’s commitment to grow its coatings presence in the region,” said John Outcalt, PPG vice president, automotive refinish. “PPG now will be able to directly serve customers in the region with our high-quality, innovative automotive refinish products and our customer service, technical support and training programs.”
According to Outcalt, PPG will continue to use the Ducol brand, as well as Ducol Coatings’ former franchisee and distributor network, giving PPG access to a solid, proven distribution network in the growing South African and surrounding markets.
“PPG intends to continue Ducol Coatings’ strong track record of performance, and to capture future growth in the region’s automotive refinish coatings market,” Outcalt said. Many of the world’s largest automotive manufacturers have a presence in South Africa, and over the next several years, PPG anticipates that population growth and higher purchasing power will lead to more vehicle sales and increased demand for automotive refinish products, he said.
PPG Industries’ vision is to continue to be the world’s leading coatings and specialty products company. Founded in 1883, the company serves customers in industrial, transportation, consumer products, and construction markets and aftermarkets. With headquarters in Pittsburgh, PPG (ppg.com) operates in more than 60 countries around the globe. Sales in 2010 were $13.4 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG).
Statements in this news release relating to matters that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 reflecting the company’s current view with respect to future events or objectives and financial or operational performance or results. The forward-looking statements contained herein include statements relating to the expected benefits of the acquisition. Actual events may differ materially from current expectations and are subject to a number of risks and uncertainties, including the failure to achieve the expected benefits of the acquisition and the other risks and uncertainties discussed in PPG Industries’ periodic reports on Form 10-K and Form 10-Q, and its current reports on Form 8-K filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of their initial issuance, and PPG Industries does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
Vince Morales, PPG Investor Relations
P: 412-434-3740 / E: vmorales[.]ppg.com.