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PPG Acquires Futian, an Automotive Refinish Coatings Company

Published on 2017-01-23. Author : SpecialChem

PITTSBURGH -- PPG has acquired certain assets of automotive refinish coatings company Futian Xinshi (Futian). Financial terms were not disclosed.

Automotive Refinish

With approximate sales of $15 million in 2016, Futian is a privately owned company based in the Guangdong province of China. Futian distributes its products in China through a network of more than 200 distributors. PPG will acquire Futian’s trademarks, product technology and customer list.

Acquisition to Enhance PPG's Position in China

“The acquisition of Futian will further enhance PPG’s position in the growing Chinese automotive refinish coatings market,” said John Outcalt, PPG vice president, global automotive refinish. “Futian has a proven track record of growth and profitability by leveraging well-positioned brands, mature technology, low-cost operations and a solid-performing distribution base.”

About PPG

PPG Industries' vision is to deliver high-quality, innovative and sustainable solutions that customers trust to protect and beautify their products and surroundings. Through leadership in innovation, sustainability and color, PPG provides added value to customers in construction, consumer products, industrial and transportation markets and aftermarkets to enhance more surfaces in more ways than does any other company.

Founded in 1883, PPG has global headquarters in Pittsburgh and operates in more than 70 countries around the world. Reported net sales in 2014 were $15.4 billion.

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Source: PPG
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