PPG acquires architectural and industrial coatings businesses of Renner Sayerlack, S.A.
PPG has acquired the architectural and industrial coatings businesses of Renner Sayerlack, S.A., Gravatai, Brazil, to expand its architectural and industrial coatings business in Latin America.
"Renner is a very strong, well regarded architectural paint brand in Brazil, Chile and Uruguay," said Charles E. Bunch, chairman and CEO of PPG. "This acquisition will strengthen our ability to grow our architectural and industrial business throughout Latin America. Moreover, it fits well with our strategy to profitably grow our coatings businesses and continue to expand our presence in emerging regions."
Renner Sayerlack's architectural and industrial coatings businesses operate three manufacturing plants in Gravatai, Brazil; Santiago, Chile; and Montevideo, Uruguay. Each plant also serves as a distribution Center. The businesses sell through independent dealers, construction material suppliers and brand licensees, similar to franchise stores. The businesses employ approximately 850 people.
The wood and high-performance/marine divisions are being retained by Renner Sayerlack.
"We are pleased to complete this transaction with PPG, said Thomas Herrmann, chairman of Renner Sayerlack. "As a global leader in the coatings industry, PPG has the resources and commitment to take this architectural business in this region to the next level. In addition, this agreement will allow Renner to focus on wood and high-performance coatings."
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|Title Annotation:||As We Go To Press|
|Date:||Feb 1, 2007|
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