PITTSBURGH, US: PPG Industries has acquired the remaining 50 percent ownership interest in PPG Univer SpA from its joint venture (JV) partner, Univer Italiana Srl.
PPG Univer produces architectural and liquid industrial coatings and, with its associates, employs about 150 people. It operates a network of 12 retail stores in Italy and maintains administrative offices and a production facility in Cavallirio, Italy.
“This deal is a significant step in PPG’s effort to last reinforcing our presence in Europe, positioning us well for further growth in Italy,” said Jean-Marie Greindl, PPG senior VP, global architectural coatings and president, PPG EMEA.
“Over the last 10 years, the PPG Univer team has recognised a successful coatings business and we look forward to further leveraging PPG’s abilities to continue growing our brands in Italy,” added Loic Derrien, PPG general manager, architectural coatings, EMEA south.
Read More: PPG acquires full ownership in Univer’s coating business JV
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