Economy
MetoKote Acquired by PPG Industries
Written by Sandy Williams
July 11, 2016
PPG industries announced that it has completed its acquisition of MetoKote Corporation and its affiliates. MetoKote is a U.S.-based coatings services business with 2015 global sales of approximately $200 million. The transaction closed on July 1 for an undisclosed sum.
MetoKote is headquartered in Lima, Ohio, and has more than 1,500 employees. MetoKote applies coatings to customers’ manufactured parts and assembled products for a wide variety of industries including agriculture, automotive, appliance, construction equipment, and truck and bus. It operates on-site coatings services within several customer manufacturing locations, as well as at regional service centers, located throughout North America and Europe.
PPG is a global supplier of paints, coatings, optical products, specialty materials, glass and fiber glass. The company employs over 47,000 people worldwide and had total net sales in 2015 of $15.3 billion.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.
Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.
Chicago Business Barometer catches cold winds of contraction in September
The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.
Metalforming market sentiment takes a dive in September: PMA
Metalforming manufacturers anticipate a decrease in near-term conditions, according to the Precision Metalforming Association's (PMA) Business Conditions Report for September.
AIA: Architecture firms still under pressure
Architecture firms reported a modest improvement in billings through August, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.