PPG Submits Offer to Acquire Majority Interest in Le Joint Francais
PPG Industries recently announced it has submitted an offer to acquire a majority interest in the aerospace and automotive sealants businesses of Le Joint Français (LJF). LJF is a supplier of sealants and adhesives products for the aerospace and automotive industries, and has been a long-term licensee of PPG’s aerospace sealant technology.
LJF’s aerospace and automotive sealants businesses would be spun off to form a new, separate entity; PPG would be the majority owner. PPG reportedly anticipates closing the transaction in the second half of the year, following completion of the French works council consultation process, receipt of regulatory approvals and satisfaction of other customary closing conditions.
“This venture is a natural progression for the two companies, as LJF has been a licensee of PPG technology for more than 60 years,” said Michael McGarry, PPG COO. “This would allow us to serve our aerospace and automotive customers with greater geographic reach and with a wider array of automotive products.”
For more information, visit www.ppg.com.