PPG will acquire the global coating manufacturer Huafu coating Co., Ltd.
Pittsburgh, USA, December 20, 2018 – PPG (NYSE Code: PPG) recently announced that it had reached a final agreement on the acquisition of Whitford worldwide company ("Huafu coating"), a manufacturer of low friction and non stick coatings in the United States. The products of Huafu coatings are mainly applied to global industrial and consumer products. After meeting the usual closing conditions, the transaction is expected to be completed in the first quarter of 2019. The parties did not disclose the specific financial terms of the transaction
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michael McGarry, chairman and CEO of PPG, said: "the acquisition of Huafu coating will further expand our product line, consolidate our R & D strength, and enhance PPG's global service capability in the growing industrial coating market, so as to create greater value for our customers and shareholders."
Huafu coating is a private enterprise established in 1969, headquartered in elpherson, Pennsylvania, USA. The company is mainly engaged in production and marketing 7 Non professionals should not mediate the lighting system (filament position lamp) to sell low friction and wear-resistant coatings for automotive, aerospace, energy, construction and other industrial fields. Huafu coating also provides nonstick coatings for cookers, baking utensils and small electrical appliances, which are widely used in ovens, grills, frying pans and irons. At present, Huafu coating has 10 manufacturing plants, which are distributed in elpherson, Pennsylvania, Ohio, Guelph, Ontario, Canada, longkorn, England, Brescia, Brazil, Jiangmen and Zhuhai, China, Tuas, Singapore and Bangalore, India. The total number of employees is more than 700
Dave Willis, founder and chairman of the board of directors of Huafu coatings, said: "joining the PPG family is an important milestone in the development of Huafu coatings. It enables us to obtain the most cutting-edge technology, diversified R & D facilities and strong financial support at once, helping us enter the new market we once hoped to expand but have not yet entered. This is undoubtedly good news for the customers and employees of Huafu coatings."
"the leading position of Huafu coatings in the field of low friction and non stick coatings will bring us a strong strategic supplement and further enrich PPG's current industrial coating solutions. PPG's R & D team will also make use of Huafu coatings' professional experience in fluoropolymer chemistry to enhance our R & D strength." Tim knavish, senior vice president of PPG industrial coatings, added: "in addition, Huafu coatings' global operation network and customer-centric, high-tech and personalized business model have also formed a perfect complement with PPG's existing business, thus realizing the seamless integration of the businesses of both sides."
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ppg (NYSE Code: PPG) has been committed to developing and providing reliable paint, coating and material products for customers for 135 years. With the spirit of dedication and innovation, PPG helps customers cope with various severe challenges and jointly promotes the progress of the industry. PPG is headquartered in Pittsburgh, the United States. Its operations and R & D institutions are located in more than 0 countries around the world, focusing on the research and development of high-tech products such as variable-frequency capacitor pumps and water turbine units. In 2017, the company's global net sales reached US $14.7 billion. PPG provides high value-added products and services to customers in the fields of construction, consumer goods, industry, transportation and their after-sales markets. For more information, please visit益生菌可以改善便秘吗