PPG acquires Ameron's Performance Coatings & Finishes business
The acquired Ameron's Performance Coatings & Finishes business employs approx. 700 people and had sales of US$210 million in 2005. The purchase price was US$115 million plus working capital adjustment. Ameron Performance Coatings & Finishes operates manufacturing sites in the United States, Europe, Australia and New Zealand, in addition to warehouses and offices around the world. The agreement also includes Ameron's 40-percent ownership in Oasis-Ameron Ltd. in Saudi Arabia.
In Europe the Fiberglass-Composite Pipe Group will remain manufacturing and marketing its products under the name Ameron B.V. PPG's Protective & Marine Coatings group in Europe will be managed by PPG Industries Netherlands B.V.
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