PPG Strengthens Automotive Refinish Coatings Business in China      

On October 1st, PPG Industries (NYSE: PPG) announced it has acquired the automotive refinish coatings business of Bonny Coating-Made Co., Ltd. (Bonny), in Guangzhou, southern China. The business will operate as a subsidiary of PPG.
   The assets to be acquired include the customer list, technology, all brands, trademarks and working capital. In addition, approximately 40 Bonny employees involved with sales, research and development, quality control, technical support and warehousing will transfer with the business.   
    This acquisition will bolster PPG's leadership position in the Chinese automotive refinish coatings market, and enable PPG to enter and grow in other segments of the automotive refinish market, consistent with its Asia/Pacific growth strategy.
    PPG also says it has reached an agreement with BASF Corp. to acquire that company's North American coil and extrusion coatings (COEX) business, excluding the COEX businesses of BASF SE in Europe, South America and Asia. The combination of BASF and PPG will better enable it to provide innovative technologies, high-quality products and superior customer service.