Search

Italy: Paints & Coatings PPG to Takeover Automotive Refinish Coatings Manufacturer ICR

| Editor: Ahlam Rais

PPG’s acquisition of Industria Chimica Reggiana (ICR) is expected to strengthen its current product line for the automotive refinish and light industrial coatings industries. ICR has a presence in 70 plus countries across the globe.

Related Companies

The transaction is expected to close in the first quarter 2020, subject to customary closing conditions.
The transaction is expected to close in the first quarter 2020, subject to customary closing conditions.
(Source: Deposit Photos)

Pittsburgh/USA – PPG has recently announced that it has reached a definitive agreement to acquire Industria Chimica Reggiana (ICR), a manufacturer of paints and coatings for the automotive refinish and light industrial coatings industries. The transaction is expected to close in the first quarter 2020, subject to customary closing conditions. Financial terms were not disclosed.

Founded in 1961, ICR is based in Italy and manufactures automotive refinish products, including putties, primers, basecoats and clear coats under the ‘Sprint’ brand. The company also makes a complete range of coatings, enamels and primers for light commercial vehicles and other light industrial coatings applications. ICR employs approximately 180 people and sells its products in more than 70 countries in Europe, Africa, the Middle East, the United States and Latin America.

Specialist Book „Heat Transfer Technique“The comprehensive standard work „Heat Transfer Technique“ offers not only a detailed and well-founded presentation of the basics of heat transfer technique, but also shows the latest state of the art and the latest regulations in the use of organic fluids. Thematically, the book is rounded off with an overview of property data of organic heat transfer fluids as well as many use cases from practical experience.

“PPG’s acquisition of ICR will complement our current product offering for the automotive refinish and light industrial coatings industries and add specialised, value-added products that address the needs of distributors and body shops,” said Gary Danowski, PPG vice president, global automotive refinish. “We look forward to continuing to deliver the trusted products and services upon which ICR customers have come to rely, and we are very excited to welcome ICR employees to PPG.”

(ID:46307690)