PPG Industries Inc. has acquired a private automotive coatings business in China, the company announced Monday.
Pittsburgh-based PPG (NYSE: PPG) will own all brands, the customer list, trademarks, technology and working capital of Bonny Coating-Made Co., Ltd., in Guangzhou, in southern China. About 40 Bonny employees will transfer with the business.
The acquisition will extend PPG's distribution network and customer base, said J. Rich Alexander, senior vice president of coatings. The amount of the deal was not disclosed.
The growing number of car owners in China will drive "sustained future growth," Alexander said.
PPG operates an industrial coatings plant in Oak Creek that will be absorbing some of the production from a plant in Canada that is being closed under a recently announced restructuring.