PPG Completes Deft Acquisition
Specialty coatings leader PPG Industries has announced that it has completed the previously announced acquisition of structural and aviation coatings maker Deft for an undisclosed sum.
The purchase will complement PPG's own aerospace coatings business. The performance coatings segment, which comprises its aerospace, protective, marine, and architectural businesses, had $4.75 billion in revenues in 2012.
In addition to Deft's structural primers and military topcoats for the North American aviation industry, it also produces coatings used within the architectural and general industrial markets.
PPG Vice President of Aerospace Barry Gillespie said: "With the acquisition of Deft, we are now able to offer an even broader portfolio of innovative coatings that benefit our customers and reduce the impact on the environment. Deft's waterborne and chrome-free technologies complement PPG's existing coatings capabilities, particularly in the aerospace industry, and support PPG's ongoing commitment to sustainability."
Headquartered in Pittsburgh, PPG operates in nearly 70 countries around the world, recording sales of $15.2 billion last year.
The article PPG Completes Deft Acquisition originally appeared on Fool.com.
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