20th March 2019

PPG PURCHASES METOKOTE

PPG has reached a definitive agreement to acquire MetoKote Corp. and its affiliates.MetoKote is a US-based coatings services business with 2015 global sales of approximately $200-million. The transaction is expected to close in the third quarter 2016, subject to customary closing conditions. Financial terms were not disclosed.

MetoKote is headquartered in Lima, OH, and has more than 1,500 employees. It applies coatings to customers’ manufactured parts and assembled products, and operates on-site coatings services within several customer manufacturing locations, as well as at regional service centers, located throughout the US, Canada, Mexico and Europe. Customers ship parts to MetoKote service centers, where they are treated to enhance paint adhesion and painted with electrocoat, powder or liquid coatings technologies. The coated parts are then shipped to the customer’s next stage of assembly. The company coats an average of more than 1.5-million parts per day.

“This acquisition will help us to better understand and meet our customers’ critical coatings requirements,” said Viktor Sekmakas, PPG executive vice-president. “We are responding to customers’ requests to streamline the purchasing, delivery and application of coatings by adding MetoKote’s capabilities to PPG. This will simplify our customers’ operations, enabling them to focus on their core competencies of product design and manufacturing. Having a more intimate understanding of our customers’ coatings needs will help us to offer enhanced, end-to-end solutions and services going forward.”

He added, “MetoKote is a leader in coatings services. Its size, breadth of capabilities and geographic reach complement PPG’s technology and regional customer base. With this acquisition, we will be able to deliver process efficiency and streamline coatings operations for our customers, helping to drive a new era of innovation.”

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