14 December 2012
Acquisiton details
Buyer PPG Industries, USA.
Target business The North American
Architectural Coating Business of
AkzoNobel, The Netherlands
Value of the deal US $1.05 billion
Schedule Early second quarter 2013
The acquisition include
- All AkzoNobel architectural coatings
manufacturing and distribution facilities
- Paint stores
- Products lines and
- Employees related to architectural coatings business
in USA., Canada and the Caribbean
- PPG expects to achieve significant net operating earnings
of about US $ 160 million of acquired business over the
3 years period.
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Benefit to PPG
- To double North American architectural coating presence
- To extend in all 3 architectural distribution channels
- To expand North-American
company-owned store networks
to approximatley 1,000.
- The acquired business had a 2011 revenues
of about US $ 1.5 billion.
PPG's plans
1.The acquisition of AkzoNobel's architectural
coating business in North America.
2.Share Repurchase program
Due to PPG's strong cash position, PPG plans to
reinitiate share repurchase program between
US $ 500-700 million in 2013
- Both activities are consistent with PPG's long standing
heritage of growing earnings and
returning additional cash to shareholders
- PPG will still have an elevated level of cash in spite of
both cash using activities and
expect to continue to pursue further
earning-accretive cash deployment actions during 2013.
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