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Tuesday, 10 January 2017

PPG completes acquisition of paint manufacturer in Romania

PITTSBURGH, US: PPG Industries has completed its acquisition of Deutek SA, a leading Romanian paint and architectural coatings manufacturer that reported sales of 30 million in 2015.
Deutek manufactures and markets a large portfolio of professional and consumer paints, including the OSKAR and Danke! brands. Its products are sold in more than 120 do-it-yourself stores and 3,500 independent retail outlets in Romania.
“The acquisition adds the fastest-growing paint brands in Romania, where PPG has only a small presence in architectural coatings. This important acquisition in Romania extends our presence in the region and complements our positions in Poland, Czech Republic, Hungary and Slovakia,” said Jean-Marie Greindl, PPG senior VP, global architectural coatings and president, PPG EMEA.
“We have always focused on building a market-leading position based on trusted brands and innovative products. This vision is fully shared by PPG, which supports the management team and its development plans. We are confident that joining PPG will accelerate our innovation and thus help us to achieve performance consistent with our vision,” added Gabriel Enache, CEO of Deutek.
© Worldofchemicals News
Read More: PPG completes acquisition of paint manufacturer in Romania

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