United States. PPG has announced a definitive agreement to acquire MetoKote Corporation and its subsidiaries. MetoKote is a U.S. coatings services company with worldwide sales in 2015 of approximately $200 million.
The transaction is expected to close in the third quarter of 2016, subject to customary closing conditions. Financial terms were not disclosed.
MetoKote is headquartered in Lima, Ohio, and has more than 1,500 employees. The company applies coatings to customers of manufacturing parts and assembled products. It operates on-site coating services at various customer manufacturing locations, as well as regional service centers, located throughout the U.S., Canada, Mexico, the U.K., Germany, Hungary, and the Czech Republic.
"This acquisition will help us better understand and meet our customers' critical coating requirements," said Viktor Sekmakas, executive vice president of PPG. "We are responding to customer requests to expedite the purchase, delivery and application of coatings by adding Metokote capabilities to PPG.
