《PPG Industries Wraps Up REVOCOAT Buy from AXSON Group》：
PPG Industries Inc. (PPG – Analyst Report) declared that it has wrapped up the acquisition of REVOCOAT – a global supplier of sealants, adhesives and damper products for the automotive industry – from the AXSON Group. Financial terms of the agreement remain undisclosed. AXSON Group is a leading polymer formulation manufacturer.
According to Cindy Niekamp, senior vice president of PPG Industries, this acquisition would further strengthen the company’s foothold in the global automotive adhesive, and sealants product and technology offerings. It will also enhance PPG Industries’ service to its automotive customers around the globe.
REVOCOAT, a France-based company, is a global leader in automotive adhesives and sealants, offering a wide range of automotive assembly products. It operates eight manufacturing facilities and one research and development center with over 500 employees. The acquisition of REVOCOAT by PPG Industries was announced in Dec 2014. (Read More on it at: PPG Negotiates with AXSON Group to Acquire REVOCOAT)
PPG Industries is taking steps to grow its business inorganically by making a series of acquisitions. Most recently, it completed the acquisition of specific assets of Flood Australia, which makes and distributes specialty wood stain and paint additive solutions for household consumers as well as industrial and commercial users. This acquisition will enable the company to broaden its presence and position in the wood care market in Australia by expanding its architectural paint and coatings offering.
The company spent $2.5 billion on acquisitions in 2014. It expects to deploy $1.5–$2.5 billion of cash in the 2015–2016 period on acquisitions and share buybacks.
PPG Industries currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the diversified chemical space include Asahi Kasei Corp. (AHKSY), Innospec Inc. (IOSP – Snapshot Report) and Mitsubishi Chemical Holdings Corporation (MTLHY – Snapshot Report), all sporting a Zacks Rank #1 (Strong Buy).
《PPG Industries Wraps Up REVOCOAT Buy from AXSON Group》：
PPG Industries Inc. (PPG – Analyst Report) declared that it has wrapped up the acquisition of REVOCOAT – a global supplier of sealants, adhesives and damper products for the automotive industry – from the AXSON Group. Financial terms of the agreement remain undisclosed. AXSON Group is a leading polymer formulation manufacturer.
According to Cindy Niekamp, senior vice president of PPG Industries, this acquisition would further strengthen the company’s foothold in the global automotive adhesive, and sealants product and technology offerings. It will also enhance PPG Industries’ service to its automotive customers around the globe.
REVOCOAT, a France-based company, is a global leader in automotive adhesives and sealants, offering a wide range of automotive assembly products. It operates eight manufacturing facilities and one research and development center with over 500 employees. The acquisition of REVOCOAT by PPG Industries was announced in Dec 2014. (Read More on it at: PPG Negotiates with AXSON Group to Acquire REVOCOAT)
PPG Industries is taking steps to grow its business inorganically by making a series of acquisitions. Most recently, it completed the acquisition of specific assets of Flood Australia, which makes and distributes specialty wood stain and paint additive solutions for household consumers as well as industrial and commercial users. This acquisition will enable the company to broaden its presence and position in the wood care market in Australia by expanding its architectural paint and coatings offering.
The company spent $2.5 billion on acquisitions in 2014. It expects to deploy $1.5–$2.5 billion of cash in the 2015–2016 period on acquisitions and share buybacks.
PPG Industries currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the diversified chemical space include Asahi Kasei Corp. (AHKSY), Innospec Inc. (IOSP – Snapshot Report) and Mitsubishi Chemical Holdings Corporation (MTLHY – Snapshot Report), all sporting a Zacks Rank #1 (Strong Buy).