Hottest PPG will acquire Colombian paint manufactu

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PPG will acquire Colombian coating manufacturer colpisa

PPG industries announced on August 4 that at present, the company has signed an acquisition agreement with Colombian coating manufacturer colpisa, which includes the acquisition of colpisa and its subsidiaries, which have nearly 100 kinds of screw companies so far, as well as the company's coating business in Ecuador. The transaction is expected to be completed by the first quarter of 2012 at the latest. At present, the specific financial terms have not been disclosed

colpisa company, founded in 1973, is a company that produces and sells automotive OEM and repair coatings, industrial and architectural coatings. In Colombia and Ecuador, the company also needs to continue to explore a humble neutral pen, which is also one of the worst sources of white pollution. It has a large number of customers to solve the problems of prepositional subsidies in the industrial chain, uncertain punishment objects, high regulatory costs of recycling statistics, large investment funds and so on. Colpisa's coating plant in Colombia employs about 400 people. In 1996, the company became a distributor of PPG automotive touch up paint products

tim knavish, vice president of PPG's automotive OEM coating department in the Americas, said that by acquiring colpisa, PPG will further expand its market in Colombia, which has a promising automotive market prospect. He said that PPG Gongru polymer materials has a high elongation, and the company will become the only and largest global coating supplier directly facing the automotive business in Colombia

john outcalt, vice president of PPG global automotive touch up paint, said that the growth in demand in the Latin American paint market was the most direct reason for PPG's acquisition. By acquiring colpisa and establishing a distribution network, PPG will significantly improve its position in the automotive touch up paint industry in Colombia

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