Posted on the 01-08-2019
PPG said it reached a definitive agreement to acquire automotive coatings manufacturer Hemmelrath. The transaction is expected to close in the first half of 2019, subject to customary closing conditions. Financial terms were not disclosed.
“This acquisition is another step forward in our strategic growth plan that will provide further value to our customers and shareholders,” said Michael McGarry, PPG chairman and CEO.
Headquartered in Klingenberg, Germany, Hemmelrath is a family-owned manufacturer of coatings for automotive OEMs. With more than 450 employees, the company operates manufacturing facilities in Klingenberg and Erlenbach, Germany; Jilin, China; Duncan, South Carolina; and Indaiatuba, Brazil.
“The fit between Hemmelrath and PPG is complimentary. The acquisition will enhance PPG’s automotive coatings offering, and add formulating and manufacturing solutions,” said Rebecca Liebert, PPG SVP, automotive coatings.
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