PPG acquire Chemfil Canada remaining stake from JV partner

PPG to acquire Chemfil Canada remaining stake from JV partner

4:46 PM, 21st August 2015
PPG to acquire Chemfil Canada remaining stake from JV partner

PITTSBURGH, US: PPG Industries Inc said it has agreed to acquire the remaining interest in Chemfil Canada Ltd, from joint venture partner Madinal Enterprises. The transaction is expected to close in the third quarter. Financial terms were not disclosed.

Chemfil Canada produces pretreatment products, as well as some general industrial chemicals, for automotive original equipment manufacturers (OEMs) and industrial customers in Canada.

The acquisition will enhance PPG’s pretreatment presence and capabilities in Canada, and after closing the acquired products and services will be offered under the PPG name. Also an affiliate of Madinal Enterprises will own the Windsor production facility and certain non-pretreatment business and product lines that will continue to use the Chemfil name.

“Acquiring the pretreatment business of Chemfil Canada will enable PPG to further strengthen its pretreatment offering and services in this area for global automotive OEM and industrial customers,” said Cindy Niekamp, PPG senior vice president, automotive coatings.

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