Press release from Business Wire
PPG Completes Acquisition of Deft, Expands Aerospace Coatings Business
Monday, May 20, 2013
PPG Completes Acquisition of Deft, Expands Aerospace Coatings Business09:11 EDT Monday, May 20, 2013
PITTSBURGH (Business Wire) -- PPG Industries (NYSE:PPG) announced today that it has completed its previously announced acquisition of certain assets of Deft Incorporated, a privately-owned specialty coatings company based in Irvine, Calif. Financial terms were not disclosed.
The acquisition enhances the coatings capabilities of PPG's aerospace business. Deft products include structural primers and military topcoats for the North American aviation industry. In addition, Deft produces coatings used within the architectural and general industrial markets.
“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,” said Barry Gillespie, PPG vice president, aerospace. “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.”
PPG Aerospace is the aerospace products and services business of PPG Industries and a diverse, global supplier with 18 coatings facilities around the world. PPG Aerospace – PRC-DeSoto is the leading global producer of aerospace sealants, coatings, and packaging and application systems. PPG Aerospace – Transparencies is the world's largest supplier of aircraft windshields, windows and canopies.
PPG: BRINGING INNOVATION TO THE SURFACE.(TM)
PPG Industries' vision is to continue to be the world's leading coatings and specialty products company. Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Sales in 2012 were $15.2 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit www.ppg.com.
Bringing innovation to the surface is a trademark of PPG Industries Ohio, Inc.
PPG Industries, Inc.
Jeremy Neuhart, PPG Corporate Communications, 412-434-3046
Vince Morales, PPG Investor Relations, 412-434-3740