PPG Industries has recently announced that it has reached an agreement to acquire automotive coatings manufacturer Hemmelrath.
The transaction is expected to close in the first half of 2019, subject to customary closing conditions. Financial terms were not disclosed.
“We are excited to add Hemmelrath to our robust and diversified automotive coatings offering. This acquisition is another step forward in our strategic growth plan that will provide further value to our customers and shareholders,” says Michael McGarry, PPG chairman and chief executive officer.
Headquartered in Klingenberg, Germany, Hemmelrath is a family-owned manufacturer of coatings for automotive original equipment manufacturers (OEMs). With more than 450 employees, the company operates manufacturing facilities in Klingenberg and Erlenbach, Germany; Jilin, China; Duncan, South Carolina, US; and Indaiatuba, Brazil. Hemmelrath supplies automotive plants worldwide, and more than seven million vehicles are coated with its products each year.
“The fit between Hemmelrath and PPG is complementary. The acquisition will enhance PPG’s automotive coatings offering, and add formulating and manufacturing solutions,” adds Rebecca Liebert, PPG senior vice president, automotive coatings.
