PPG Acquires Automotive Coatings Manufacturer Cetelon
PPG (NYSE: PPG) has acquired Cetelon Lackfabrik GmbH, a German manufacturer of coatings for automotive wheels, with undisclosed financial terms. Cetelon, established in 1948, specializes in a range of coating systems and operates globally from Ditzingen, Germany. This acquisition enhances PPG's existing coatings and color matching capabilities, leveraging Cetelon's customer relationships and expertise to drive growth in the transportation sector. The acquisition is seen as mutually beneficial, expanding PPG's portfolio and market reach.
- Acquisition enhances PPG's coatings product portfolio and technologies.
- Cetelon's established customer relationships complement PPG's existing customer base.
- Strategic move to drive growth within the transportation industry.
- None.
PPG (NYSE: PPG) today announced that it has acquired Cetelon Lackfabrik GmbH, a manufacturer of coatings for automotive and light truck wheel applications. Financial details of the transaction were not disclosed.
Cetelon develops and manufactures a wide range of coating systems for the wheel industry, including certain proprietary technologies. It operates production and sales offices in Ditzingen, Germany, from which it serves many leading wheel suppliers worldwide. Founded in 1948 in Stuttgart, Germany, Cetelon became part of the Berlac Group in 2011. The company employs approximately 95 people globally.
“The strategic acquisition of Cetelon will allow PPG to further build upon its existing coatings product portfolio, liquid and powder coating technologies and color matching capabilities,” said Rebecca Liebert, PPG executive vice president. “Cetelon’s long-standing and established customer relationships will be complementary to PPG’s existing customer base and global presence, and will allow us to continue to deliver industry-leading solutions and drive growth within the transportation industry.”
“The sale of Cetelon to PPG is a great result for both companies,” said Daniel Kesselring, chairman, Berlac Group. “While PPG gains Cetelon’s long-standing expertise in the wheel industry, Cetelon will benefit from a highly complementary product offering and from PPG’s global reach.”
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CATEGORY Automotive OEM Coatings
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