PITTSBURGH--(BUSINESS WIRE)-- <\/p>\n
PPG Industries (PPG) today announced that it has reached a definitive agreement to acquire certain assets of Deft Incorporated, a privately-owned specialty coatings company based in Irvine, Calif. Defts primary business is supplying structural primers and military topcoats to the North American aviation industry, and it has smaller architectural and industrial coatings businesses. <\/p>\n
Acquiring Deft will advance PPGs strategy to remain a leading aerospace coatings supplier, said Barry Gillespie, PPG vice president, aerospace. Defts waterborne and chrome-free technologies complement PPGs existing coatings capabilities and will provide PPG with a broader product portfolio, particularly within the aerospace industry. <\/p>\n
Gillespie added, The aviation industry continues to drive toward improved environmentally sustainable solutions, and both PPG and Deft have long histories of developing technologies that support this trend. Defts green coating systems support PPGs ongoing commitment to sustainability, and we will be able to offer an even wider selection of innovative coatings that benefit our customers and lessen the impact on the environment. <\/p>\n
The transaction is expected to close in the second quarter subject to customary closing conditions. Financial terms were not disclosed. <\/p>\n
PPG Aerospace is the aerospace products and services business of PPG Industries and a diverse, global supplier with 18 coatings facilities around the world. PPG Aerospace PRC-DeSoto is the leading global producer of aerospace sealants, coatings, and packaging and application systems. PPG Aerospace Transparencies is the worlds largest supplier of aircraft windshields, windows and canopies. <\/p>\n
About Deft <\/p>\n
Founded in 1938, Deft Incorporated is a global leader in waterborne structural primers and chrome-free primers and topcoats for the aerospace and general industrial markets. Deft also manufactures wood finishes for the retail market. The company employs 140 people. <\/p>\n
PPG: BRINGING INNOVATION TO THE SURFACE.(TM) <\/p>\n
PPG Industries' vision is to continue to be the worlds leading coatings and specialty products company. Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction 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. Sales in 2012 were $15.2 billion. PPG shares are traded on the New York Stock Exchange (PPG). For more information, visit http:\/\/www.ppg.com<\/a>. <\/p>\n <\/p>\n Read the rest here:<\/p>\n PPG to Acquire Aerospace Coatings Producer Deft<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" PITTSBURGH--(BUSINESS WIRE)-- PPG Industries (PPG) today announced that it has reached a definitive agreement to acquire certain assets of Deft Incorporated, a privately-owned specialty coatings company based in Irvine, Calif. Defts primary business is supplying structural primers and military topcoats to the North American aviation industry, and it has smaller architectural and industrial coatings businesses. Acquiring Deft will advance PPGs strategy to remain a leading aerospace coatings supplier, said Barry Gillespie, PPG vice president, aerospace. Continue reading