May 14, 2012 – PPG Industries has announced that it and its subsidiary, PPG Industries
Colombia, have completed the acquisition of the coatings businesses of
Colpisa Colombiana de Pinturas and its affiliates, including Colpisa
Ecuador. The parties first announced an acquisition agreement Aug. 4,
2011. Financial terms were not disclosed.
“PPG is pleased with the completion of the Colpisa acquisition, and
we look forward to building our presence in Colombia to serve and grow
with our customers in the region,” said Tim Knavish, PPG vice-president of
automotive OEM coatings for the Americas.
“This acquisition is further evidence of PPG’s commitment to global
growth in coatings.”
In acquiring Colpisa, PPG becomes a major coatings supplier
with a direct automotive OEM coatings manufacturing presence in Colombia
and one of the leading providers of a full line of automotive refinish
products in Colombia with an established distribution network, according
to Knavish. Colpisa has been a technology licensee of PPG automotive
OEM coatings since 1996 and a distributor of PPG automotive refinish
products since 2004. PPG now operates Colpisa’s coatings manufacturing
facility in Itagüí, Colombia, which employs about 315 people.
Colpisa was founded in 1973 and manufactures and distributes coatings
for OEM, automotive refinish and industrial customers in Colombia and
Ecuador.
Related links
PPG Industries
Colpisa Columbiana de Pinturas
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