OTTAWA: PPG Industries Inc. announced it has reached a definitive agreement to acquire the remaining interest in Chemfil Canada Ltd., its joint venture with Madinal Enterprises.
Financial terms of the transaction were not disclosed. PPG (NSYE: PPG) expects the deal to close in the third quarter, subject to customary closing conditions.
Chemfil Canada produces pretreatment products, as well as some general industrial chemicals for automotive manufacturers.
“Acquiring the pretreatment business of Chemfil Canada will enable PPG to further strengthen its pretreatment offering and services in this area for global automotive OEM and industrial customers,” Cindy Niekamp, PPG senior vice president for automotive coatings, said in a statement. “PPG looks forward to enhancing supply capabilities for Chemfil customers and providing them with access to PPG’s full portfolio of coatings products.”
