PITTSBURGH (AP) - PPG Industries Inc. said Friday its Australia unit will purchase Barloworld Coatings Australia, an architectural and decorative paint maker which produces Taubmans, Bristol and White Knight coating brands.
Financial terms weren't disclosed. The company is a unit of South African-based Barloworld Ltd., a multinational industrial brand management firm.
The deal is subject to customary closing conditions, including required regulatory approvals. Barloworld Coatings operates two production facilities in Villawood, New South Wales, and Glen Waverley, Victoria. The business employs about 750 people.
Barloworld's plant in Glen Waverley will not be acquired by PPG, but will continue to make Barloworld brand products for PPG until production and distribution activities are transferred to other locations.
PPG Industries Australia makes automotive, industrial, protective and marine coatings. The subsidiary has manufacturing plants in Clayton, Victoria, and Adelaide, South Australia, and employs more than 800 people in Australia. The purchase of Barloworld Coatings Australia will make PPG the largest coatings manufacturer in Australia.
In 2006, PPG acquired Protec Pty. Ltd., of Adelaide, Australia, which makes and distributes automotive refinish coatings and light industrial and high-performance coatings.
