PPG Industries recently confirmed that through its subsidiary PPG Industries Colombia, it has completed the acquisition of Colpisa Colombiana de Pinturas coatings business and its affiliates, including Colpisa Ecuador.
The parties announced that there was already an agreement since August 2011. No details were revealed about the amount of the transaction: "PPG is pleased with the completion of the colpisa acquisition, and we now look forward to increasing our presence in Colombia to serve all of our customers in the region," said Tim Knavish, vice president for the Americas of PPG's automotive division.
According to Knavish, with the acquisition of the Colombian firm, PPG becomes the only distributor with a direct manufacturer of automotive coatings OEM (Original Equipment Manufacturer) with a presence in Colombia and a stable distribution network.
Colpisa has held the PPG technology license since 1996 and has been its distributor of automotive refinish products since 2004. PPG will now operate the plant located in the municipality of Itagüí, south of the city of Medellín.
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