PPG Industries Inc.
) has closed its earlier-announced acquisition of specific assets
of privately-held specialty coatings company Deft Incorporated.
The Pittsburgh-based company cut a definitive deal to buy the
assets in Apr 2013. The financial terms of the transaction were
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Irvine, Calif.-based Deft supplies structural primers,
chrome-free primers and military topcoats to the North American
aviation industry. It also makes wood finishes for the retail
The acquisition of Deft's assets expands PPG Industries' product
portfolio and strengthens its position as a leading coatings
supplier for the aerospace industry. Deft's waterborne and
chrome-free technologies complement the company's existing
PPG Industries and Deft share a rich history of developing
technologies that support the growing adoption of improved
environmentally sustainable solutions by the aviation industry.
With Deft's green coating systems, PPG Industries is now better
placed to offer a wide array of coatings solutions to its
customers with lower environmental impact.
PPG Industries has a diversified business, both in terms of
products offered and geographical presence. It has a leading
position in several paints and coatings end markets. PPG
Industries caters to the aviation industry through its aerospace
products and services business - PPG Aerospace - a global
supplier with 18 coatings facilities across the planet.
PPG Industries is taking steps to grow its business inorganically
by making a number of acquisitions. It recently closed the
acquisition of the North American architectural coatings business
of Dutch paints company
) for $1.05 billion. This marked the second-largest acquisition
in the company's history.
PPG Industries currently holds a short-term Zacks Rank #3 (hold).
Other companies in the chemical space that are worth considering
). Both retain a Zacks Rank #1 (Strong Buy).