Glass, coatings and chemical company PPG Industries Inc., said it completed its acquisition of the German-based original equipment speciality coatings business of Imperial Chemical Industries Plc. Terms of the transaction, the smaller of two deals between PPG and ICI announced in April and involving no fixed assets, were not disclosed. The other ICI transaction, the purchase of its auto refinish and industrial coatings business for about $686.7m, is expected to close this week, PPG spokesman John Ruch said. The acquired German business, which had 1998 sales of around $16m, becomes part of PPGs industrial coatings strategic business unit, the company said. The business supplies speciality coatings used by makers of buses and trucks, and for rail car, military and industrial applications. (whole item)
