PPG Acquires Chinese Coatings Company
PPG recently announced that it has acquired assets of the Shenzhen-based Futian Xinshi.
PPG recently announced that it has acquired certain assets of the Shenzhen-based automotive refinish coatings company Futian Xinshi. With approximate sales of $15 million in 2016, Futian reportedly distributes its products in China through a network of more than 200 distributors. PPG will acquire Futian’s trademarks, product technology and customer list.
“The acquisition of Futian will further enhance PPG’s position in the growing Chinese automotive refinish coatings market,” said John Outcalt, vice president of global automotive refinish. “Futian has a proven track record of growth and profitability by leveraging well-positioned brands, mature technology, low-cost operations and a solid-performing distribution base.”
For more information, visit www.ppg.com.