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PPG to Acquire Chinese Packaging Coatings Producer Bairun Chemical Co. - Will strengthen leading packaging coatings positions in China and Asia (NYSE: PPG)
PPG to Acquire Chinese Packaging Coatings Producer Bairun Chemical Co.

 

PRZOOM - /newswire/ - Pittsburgh, PA, United States, 2010/10/19 - Will strengthen leading packaging coatings positions in China and Asia (NYSE: PPG). NYSE: PPG

   
 
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PPG Industries has reached an agreement to acquire Bairun, a privately-held packaging coatings company in Gaoming District, Foshan, Guangdong in southern China. Financial terms were not disclosed. The deal is expected to close during the current quarter.

Approximately 70 Bairun employees involved with sales, research and development, quality control, technical support, manufacturing and warehousing will transfer with the business.

“This acquisition will bolster PPG’s leadership positions in the Chinese and Asian packaging coatings industry,” said Viktor Sekmakas, PPG senior vice president, industrial coatings, and president, PPG Asia/Pacific. “This acquisition positions PPG to continue a history of strong growth in the packaging coatings business in a large and growing region. Furthermore, this acquisition fits with PPG’s global strategy to grow in coatings and specialty products, especially in emerging regions such as Asia/Pacific.”

“The addition of Bairun’s technology and solid position in two large segments in packaging coatings, the monobloc aerosol and tube (MAT) and lug cap, crown and general line (LCG) segments, complements PPG’s strength in the food and beverage can segment,” added Douglas Pegg, PPG vice president, packaging coatings. “It also provides us with manufacturing capability in southern China, which supplements our overall China capacity and improves customer logistics.”

PPG’s packaging coatings are used for containers for the beverage, food, cosmetic, pharmaceutical, paint and chemical industries.

About PPG

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 2009 were $12.2 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG).

Investors:
Vince Morales, PPG Investor Relations
P: 412-434-3740 / E: vmorales[.]ppg.com.

 
 
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Agency / Source: PPG Industries, Inc.

 
 

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PPG to Acquire Chinese Packaging Coatings Producer Bairun Chemical Co.

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Contact: Jeremy Neuhart - PPG Corporate Communications 
412-434-3046 neuhart[.]ppg.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any PPG Industries, Inc. securities in any jurisdiction including any other companies listed or named in this release.

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