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PPG Buys Cetelon Lackfabrik GmbH; Financial Terms Not Disclosed - Quick Facts

(RTTNews) - PPG Industries, Inc. (PPG) announced Monday that it has acquired Cetelon Lackfabrik GmbH, a manufacturer of coatings for automotive and light truck wheel applications. Financial details of the transaction were not disclosed.

Cetelon develops and manufactures a wide range of coating systems for the wheel industry, including certain proprietary technologies. It operates production and sales offices in Ditzingen, Germany, from which it serves many leading wheel suppliers worldwide.

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. Meanwhile, Cetelon will benefit from a highly complementary product offering and from PPG's global reach.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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