PPG To Buy MetoKote For Undisclosed Terms

PPG Industries PPG revealed Wednesday it struck a definitive agreement to acquire MetoKote Corporation and its affiliates. According to the company, MetoKote is a U.S.-based coatings services business with global sales of about $200 million in 2015. The transaction is expected to close in the third quarter 2016, subject to customary closing conditions.

PPG EVP, Viktor Sekmakas, commented, "This acquisition will help us to better understand and meet our customers' critical coatings requirements. We are responding to customers' requests to streamline the purchasing, delivery and application of coatings by adding MetoKote's capabilities to PPG. This will simplify our customers' operations, enabling them to focus on their core competencies of product design and manufacturing. Having a more intimate understanding of our customers' coatings needs will help us to offer enhanced, end-to-end solutions and services going forward."

Sekmakas continued, "MetoKote is a leader in coatings services. Its size, breadth of capabilities and geographic reach complement PPG's technology and regional customer base. With this acquisition, we will be able to deliver process efficiency and streamline coatings operations for our customers, helping to drive a new era of innovation."

According to the company, MetoKote is headquartered in Lima, Ohio, and has over 1,500 employees. It applies coatings to customers' manufactured parts and assembled products and operates on-site coatings services within several customer manufacturing locations, as well as at regional service centers, located throughout the U.S., Canada, Mexico, the United Kingdom, Germany, Hungary and the Czech Republic.