PPG acquire US-based firm IVC Industrial Coatings

PPG to acquire US-based firm IVC Industrial Coatings

7:14 AM, 12th June 2015
PPG to acquire US-based firm IVC Industrial Coatings

PITTSBURGH, US: PPG Industries Inc said that it has agreed to acquire the US-based IVC Industrial Coatings Inc, a specialty powder and liquid coatings manufacturer with sales of more than $100 million in 2014. The transaction is expected to close in the third quarter and financial terms were not disclosed.

“Acquiring IVC, which has a large, global distribution footprint, will strengthen our ability to serve a variety of end-use markets and enhance PPG’s supply positions in the US and China,” said Shelley Bausch, vice president, global industrial coatings, PPG.

IVC is a privately owned company founded in 1870 as the Indianapolis Varnish Company. Based in Brazil, Indiana, the company focuses on development, manufacture and sale of powder and liquid coatings for the general industrial segment. Its coatings are used on a wide variety of products such as metal office furniture, material handling and storage products, automotive parts, motorcycles, industrial containers, small appliances and electronics such as printers, servers and audio-visual equipment. Employing more than 300 people, IVC operates five plants in the US, one in Guangdong, China and a small development lab in Manchester, England. The company also has operations in Malaysia through a joint venture.

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