In a move to further expand its industrial-coating operations, PPG Industries Inc. said it acquired a 60% stake in Bellaria SpA, a closely held maker of powder coatings. Financial terms weren“t discl…
In a move to further expand its industrial-coating operations, PPG Industries Inc. said it acquired a 60% stake in Bellaria SpA, a closely held maker of powder coatings. Financial terms weren“t disclosed. PPG, a maker of glass, coatings and chemicals, said the acquisition gives it “an immediate, significant powder coatings presence” in Europe. Powder-coat finishes are used on a range of products, including appliances, automotive parts and metal furniture. PPG said Bellaria, based in Felizzano, Italy, has annual sales of about US$ 15 million (14 million euros) and about 70 employees.