PPG has announced in a press release 2nd November 2016, thatt it has reached an agreement with the Emerging Europe Accession Fund (EEAF) to acquire DEUTEK S.A., a leading Romanian paint and architectural coatings manufacturer. PPG expects the transaction to close in the first quarter 2017, following the receipt of regulatory approvals and satisfaction of customary closing conditions. Financial terms were not disclosed. DEUTEK, established in 1993, manufactures and markets a large portfolio of well-known professional and consumer paint brands, including OSKAR and Danke!. The company’s products are sold in more than 120 do-it-yourself stores and 3,500 independent retail outlets in Romania. DEUTEK, which is currently owned by EEAF, reported sales of 30 million euros in 2015. To read the press release in full, please visit: corporate.ppg.com/Media/Newsroom/2016/PPG-reaches-agreement-to-acquire-Romanian-paint-an
