PPG Industries (NYSE:PPG) today announced that it has completed the acquisition of certain assets of Flood® Australia, which manufactures and distributes specialty wood stain and paint additive solutions for consumer, commercial and industrial applications. Financial terms were not disclosed.
“The acquisition of Flood Australia allows PPG to further expand its architectural paint and coatings offering and establish a position in wood care in Australia,” said Michael McGarry, PPG president and chief operating officer. “We look forward to providing customers with the same quality products for which the Flood brand has become known in Australia.”
Flood products in Australia are distributed at home improvement stores, including Bunnings, Masters, Mitre 10, Danks, and independent paint dealers. No manufacturing assets or facilities were included in the acquisition.
PPG currently manufactures and distributes Flood wood care products in North America.
PPG: BRINGING INNOVATION TO THE SURFACE.(TM)
PPG Industries'
vision is to be the world’s leading coatings company by consistently
delivering high-quality, innovative and sustainable solutions that
customers trust to protect and beautify their products and surroundings.
Through leadership in innovation, sustainability and color, PPG provides
added value to customers in construction, consumer products, industrial
and transportation 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. Reported net sales in 2014 were $15.4 billion. PPG shares are
traded on the New York Stock Exchange (symbol: PPG). For more
information, visit www.ppg.com
and follow @PPGIndustries
on Twitter.
Forward-Looking Statements
Statements in this news release
relating to matters that are not historical facts are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 reflecting the company’s current view with respect to
future events or objectives and financial or operational performance or
results. The forward-looking statements contained herein include
statements relating to the expected benefits of the Flood Australia
acquisition. Actual events may differ materially from current
expectations and are subject to a number of risks and uncertainties,
including the failure to achieve the expected benefits of the
acquisition and the other risks and uncertainties discussed in PPG
Industries’ periodic reports on Form 10-K and Form 10-Q, and its current
reports on Form 8-K filed with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date of their initial
issuance, and PPG Industries does not undertake any obligation to update
or revise publicly any forward-looking statement, whether as a result of
new information, future events or otherwise.
Bringing innovation to the surface is a trademark of PPG
Industries Ohio, Inc.
FLOOD is a registered trademark of the
PPG group of companies.
Contacts:
Media:
Mark Silvey,
412-434-3046
PPG Corporate Communications
silvey@ppg.com
or
Investors:
Vince
Morales, 412-434-3740
PPG Investor Relations
vmorales@ppg.com