PPG to acquire automotive specialty materials manufacturer Revocoat
US-based PPG Industries recently announced that it 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.
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. Financial terms were not disclosed.
"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. "The business represents a true adjacency with our core automotive original equipment manufacturer (OEM) coatings business, strengthening PPG's existing offering of sealant and adhesive products for this industry."
"During the last six years, the management team and employees of Revocoat have driven the business to become a strong global competitor in the automotive OEM adhesives and sealants market," said Charles Churet, Axson President. "PPG's automotive OEM coatings business is the best possible vehicle to bring Revocoat to the next level of performance."
