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PITTSBURGH, US: 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. 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. 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,” said Cynthia Niekamp, Senior Vice President, Automotive Coatings, PPG.
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