Mexico. The Mexican paint manufacturer Comex represented an important income for PGG Industries during the second quarter of 2015 so it was able to maintain its sales in a stable way.
PPG reported sales of US$4.465 billion in its line of paints for the decorative market, which meant an increase of 2.6% compared to the same period of the previous year. Of that figure, Comex contributed US$480 million, which was significant so that the US company did not fall in its overall sales by 7.9%.
"We are pleased to have successfully completed this acquisition (Comex), the second largest in our company's history, by integrating a leading architectural coatings business in Mexico and Central America into our portfolio," said Charles Bunch, President of PPG.
In the first half of 2015, PPG's consolidated sales amounted to US$7,762 million, only 0.5% more than in the same period last year. Without Comex, they would have decreased 5.4%.
