PPG Profit Soars 64 Percent In Third Quarter

Acquisitions remain a focus for PPG Industries Inc., which has $3 billion in cash that it can spend to increase performance, CEO Charles E. Bunch said Thursday when the company reported a 64 percent jump in third-quarter profit.

“We have a very active acquisition pipeline,” Bunch said. “Including the pending acquisition of Comex, we will likely spend at or above the top end of our previously announced range of $3 billion to $4 billion of cash in 2014 and 2015 on acquisitions and share repurchases.”

PPG’s latest deal is the purchase of Consorcio Comex S.A. de C.V., a leading paint company in Mexico, for $2.3 billion. The deal announced June 30 is expected to be completed by Dec. 31.

Read more: http://triblive.com/business/headlines/6972135-74/sales-improved-percent#ixzz3GPZ9k5QG
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PPG Completes $1.05 Billion Acquisition Of Akzo Nobel Coatings Unit

PPG Place in downtown Pittsburgh, Pennsylvania. (Photo credit: Wikipedia)

PPG Industries said today it completed its $1.05 billion acquisition of Akzo Nobel‘s North American architectural coatings business.

The purchase, the second largest in PPG’s history, strengthens the Pittsburgh company’s paint and coating business, which is anticipated to benefit from a revival of the U.S. housing market.

Read more: http://www.post-gazette.com/stories/business/news/ppg-completes-105-billion-acquisition-of-akzo-nobel-coatings-unit-681682/#ixzz2PGEFDIdD