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PPG enters negotiations to acquire adhesive maker Revocoat

24 Dec '14

2 min read

PPG Industries has entered into exclusive negotiations with the Axson Group to acquire Revocoat, a global supplier of sealants, adhesives and damper products for the automotive industry.

The Revocoat business offers a range of complementary epoxy-based products, polyurethanes and water-based emulsions.

Headquartered in France, it is a subsidiary of the Axson Group, a producer of high-performance operational polymer formulation.

Revocoat employs more than 500 people and operates seven manufacturing facilities and one research and development center.

“Acquiring REVOCOAT will enable PPG to continue to strengthen its specialty materials offerings to global automotive customers,” said Cynthia Niekamp, PPG senior vice president, automotive coatings.

She added, “The business represents a true adjacency with our core automotive original equipment manufacturer coatings business, strengthening PPG’s existing offering of sealant and adhesive products.”

“Combining the expertise of the Revocoat team with PPG’s footprint will enable us to serve our customers around the world with an enhanced product portfolio,” said Jean-Marie Greindl, president, PPG Europe.

Charles Churet, president at Axson said, “PPG’s automotive OEM coatings business is the best possible vehicle to bring Revcoat to the next level of performance.”

PPG Industries' vision is to continue to be the world’s leading coatings and a specialty materials company.

Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction markets and aftermarkets to enhance more surfaces.

Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world with reported net sales of $15.1 billion in 2013.

PPG expects the transaction to close in the first quarter 2015, following the French works council consultation process, regulatory approvals and other customary closing conditions. (AR)

Fibre2fashion News Desk - India