PPG Industries said its subsidiary, PPG
Colombia, will purchase the
coatings businesses of Colpisa Colombiana de
Pinturas, a privately owned
Colombian coatings company, and its affiliates,
including Colpisa Ecuador.
The transaction is expected to close by the end
of the first quarter 2012. Financial terms were
not disclosed.
“PPG intends to build upon Colpisa’s strong
manufacturing and distribution practices as the
Colombian economy expands and more automobiles
are built and sold in the region.”
Colpisa, based in Itagüi, near Medellin, was
founded in 1973 and manufactures and distributes
coatings for automotive OEM and refinish,
industrial and architectural coatings customers
in Colombia and Ecuador. Colpisa operates a
coatings manufacturing facility in Colombia and
employs about 400 people. The company has been a
technology licensee of PPG automotive OEM
coatings since 1996 and a distributor of PPG
automotive refinish products since 2004.
“By acquiring Colpisa, PPG builds on a
successful relationship and gains the
opportunity to expand our coatings presence in
Colombia to directly serve and grow with
automotive manufacturers,” said Tim Knavish, PPG
vice president, automotive OEM coatings,
Americas. “PPG intends to build upon Colpisa’s
strong manufacturing and distribution practices
as the Colombian economy expands and more
automobiles are built and sold in the
region.”
According to Knavish, PPG would become the only
major global coatings supplier with a direct
automotive OEM manufacturing presence in
Colombia. PPG currently has no manufacturing
sites in Colombia or Ecuador, but does supply
protective and marine coatings to the region, in
addition to its technology and distribution
relationship with Colpisa.
“As an automotive refinish coatings leader, we
are pleased to add Colpisa’s automotive refinish
business to our global portfolio,” said John
Outcalt, PPG vice president, global automotive
refinish. “This acquisition is further evidence
of PPG’s commitment to grow our coatings
presence in Latin America.”
According to Outcalt, by acquiring Colpisa, PPG
will become one of the leading providers of a
full line of automotive refinish products in
Colombia with the ability to grow and serve
local customers through an established
distribution network.
