Pittsburgh-based PPG Industries (NYSE: PPG) has struck a deal to buy Cetelon Lackfabrik GmbH, a manufacturer of coatings for automotive and light truck wheel applications. Financial details of the deal weren’t available.
Cetelon develops and manufactures a wide range of coating systems for the wheel industry, including some that are based on proprietary technologies. It operates production and sales offices in Ditzingen, Germany. Founded in 1948 in Stuttgart, Germany, Cetelon became part of the Berlac Group in 2011. The company has about 95 employees globally.
“The strategic acquisition of Cetelon will allow PPG to further build upon its existing coatings product portfolio, liquid and powder coating technologies and color matching capabilities,” said Rebecca Liebert, PPG executive vice president. “Cetelon’s long-standing and established customer relationships will be complementary to PPG’s existing customer base and global presence, and will allow us to continue to deliver industry-leading solutions and drive growth within the transportation industry.”
PPG does business in more than 70 countries and reported net sales of $13.8 billion last year. It serves customers in construction, consumer products, industrial and transportation markets and aftermarkets.
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