PPG buys automotive refinish coatings company in China

PPG buys automotive refinish coatings company in China

6:31 AM, 21st January 2017
PPG logo

PITTSBURGH, US: PPG Industries Inc said that it has acquired certain assets of automotive refinish coatings company, Futian Xinshi (Futian).

With approximate sales of $15 million in 2016, Futian is a privately-owned company based in the Guangdong province of China. Futian distributes its products in China through a network of more than 200 distributors. PPG will acquire Futian’s trademarks, product technology and customer list.

“The acquisition of Futian will further enhance PPG’s position in the growing Chinese automotive refinish coatings market. Futian has a proven track record of growth and profitability by leveraging well-positioned brands, mature technology, low-cost operations and a solid-performing distribution base,” said John Outcalt, PPG vice president, global automotive refinish.

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