U.S.-based PPG Industries, a global supplier of paints, coatings, chemicals, optical products, specialty materials, glass, and fiber glass, has acquired the automotive refinish coatings business of the Bonny Coating-Made Company, based in Guangzhou.
The business will operate as an indirect subsidiary of PPG — financial terms have not been disclosed.
The assets to be acquired include Bonny's customer list, technology, and all its brands, trademarks and working capital. In addition, approximately 40 Bonny employees involved with sales, research and development, quality control, technical support and warehousing will transfer with the business.
J. Rich Alexander, PPG senior vice president, coatings stated that this acquisition would bolster PPG's leadership position in the Chinese automotive refinish coatings industry; would give the company a more comprehensive and competitive product offering and extend their distribution network and customer base. In addition, this acquisition would enable PPG to enter and grow in other segments of the automotive refinish industry within the Asia Pacific region.