PPG Industries has agreed to acquire The Crown Group (Warren, Michigan), a maker of component and product finishers in North America.
Terms of the transaction, which is expected close during the third quarter, have not been disclosed. Crown has sales of $125–$150 million/year, according to PPG chairman and CEO Michael McGarry.
Crown operates 11 facilities in the United States. It caters to different industries such as automotive, agriculture, construction, truck, and alternative energy. The deal will expand PPG’s application capabilities in original equipment manufacturer (OEM) coatings, according to Victor Sekmakas, executive vice president at PPG.
By Vincent Valk
Source: Chemical Week
The deal includes the 600kt Acetic Acid plant and all associated third party activities on the site. Eastman and INEOS have also entered into a Memorandum of Understanding to explore options for a long-term supply agreement for vinyl acetate monomer.
The Supervisory Board of Borealis has accepted the decision of Lucrèce Foufopoulos-De Ridder, EVP Polyolefins, Circular Economy Solutions and Innovation & Technology to step down from her executive position at Borealis, and the Board of Borouge Pte effective 31 December 2023 to pursue other career opportunities.
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