PPG Industries, the US-based global supplier of paints, coatings and specialty materials has announced plans for the acquisition of Dexmet Corporation, a US-based manufacturer of specialty materials for surfaces in aerospace, automotive and industrial applications. Dexmet corporation is one of the global leaders in several critical application areas, including aircraft lightning strike protection. The transaction is expected to close in the third quarter 2019, subject to customary closing conditions. Financial terms were not disclosed.
Dexmet specialises in customised, highly-engineered, expanded and perforated metal foils and polymers used for mission-critical applications in aerospace, energy storage, and other industrial applications. Dexmet employs approximately 75 people.
“The acquisition of Dexmet will enable PPG to provide further value to our customers by enhancing our range of product offerings, expanding our research and development capabilities, and increasing our market reach across PPG’s aerospace, automotive and industrial coatings businesses,” said Michael McGarry, PPG chairman and chief executive officer.
“The Dexmet team is excited to become part of the PPG family," said Timothy Poor, Dexmet chief executive officer. "PPG's technological leadership and commitment to innovation aligns well with Dexmet and will enable us to significantly broaden the solution set we bring to our customers."
“Dexmet’s leadership in aerospace surface technologies will provide strategic additions to the broad portfolio of aerospace coatings we deliver today, and PPG’s research and development team will leverage Dexmet’s expertise in ultra-thin metal mesh foil and polymer mesh across the markets we serve,” said Daniel Korte, PPG global vice president, aerospace. “In addition, Dexmet’s customer-focused business model is highly complementary to PPG’s business, allowing for a seamless integration process.”
Established 135 years ago, PPG is now operational in 70 countries and reported a net sales of $15.4 billion (Rs 106,231 crore) in 2018. It has been innovating with the automotive coatings for the past 80 years. PPG Asian paints is one of the leaders in India when it comes to automotive paint solutions.
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