PPG acquire Colombian coatings company, Colpisa

PPG to acquire Colombian coatings company, Colpisa

12:34 PM, 5th August 2011
PPG to acquire Colombian coatings company, Colpisa
Timothy M Knavish, VP, Automotive OEM Coatings, Americas, PPG.

 

PITTSBURGH, US: PPG Industries’s subsidiary, PPG Colombia has purchased coatings businesses of Colpisa Colombiana de Pinturas, a privately-owned Colombian coatings company and its affiliates, including Colpisa Ecuador. The transaction is expected to close no later than the end of the first quarter 2012, subject to regulatory approvals. Financial terms were not disclosed.

Colpisa, based in Itagu?, near Medellin, operates a coatings manufacturing facility in Colombia. The company has been a technology licensee of PPG automotive OEM coatings since 1996 and a distributor of PPG automotive refinish products since 2004.

“By acquiring Colpisa, PPG builds on a successful relationship and gains opportunity to expand coatings presence in Colombia and grow with automotive manufacturers. PPG intends to build upon Colpisa’s strong manufacturing and distribution practices as the Colombian economy expands,” said Timothy M Knavish, VP, Automotive OEM Coatings, Americas, PPG.

According to Knavish, PPG would become the only major global coatings supplier with a direct automotive OEM manufacturing presence in Colombia. The acquistion will make PPG one of the leading providers of a full line of automotive refinish products in Colombia, having an established distribution network.

(C) WOC News

 

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