PPG to Acquire High-Heat-Resistant Coatings Supplier
PPG Industries recently announced it has reached a definitive agreement to acquire substantially all of the assets of Hi-Temp Coatings Technology Co. Inc., a privately owned supplier of high-temperature-resistant and insulating coatings, based in Boxborough, Mass. The transaction is expected to close in the first quarter.
“PPG looks forward to integrating Hi-Temp coatings into our product offering,” said Tim Knavish, vice president for Protective and Marine Coatings. “Hi-Temp’s unique technologies bring multiple growth opportunities to PPG, particularly in the petrochemical segment. Combining their excellent corrosion-under-insulation coatings portfolio with PPG’s legacy portfolio enables us to provide additional high-quality options to meet more of our customers’ coatings needs.”