PPG to acquire automotive coatings manufacturer Hemmelrath
PPG announced that it has reached a definitive agreement to acquire automotive coatings manufacturer Hemmelrath.
Headquartered in Klingenberg, Germany, Hemmelrath is a family-owned manufacturer of coatings for automotive original equipment manufacturers (OEMs).With more than 450 employees, the company operates manufacturing facilities in Klingenberg and Erlenbach, Germany; Jilin, China; Duncan, South Carolina, United States; and Indaiatuba, Brazil. Hemmelrath supplies automotive plants worldwide, and more than 7 million vehicles are coated with its products each year. The transaction is expected to close in the first half of 2019, subject to customary closing conditions. Financial terms were not disclosed.
„We are excited to add Hemmelrath to our robust and diversified automotive coatings offering. This acquisition is another step forward in our strategic growth plan that will provide further value to our customers and shareholders,” said Michael McGarry, PPG chairman and chief executive officer.
Further information:
www.corporate.ppg.com/Home.aspx