PPG Industries, one of the world’s leading coatings and specialty products companies, and its Colombian subsidiary have signed an acquisition agreement with Colpisa Colombiana de Pinturas, an Itagüi-based coatings company.
Under the terms of the agreement, PPG will buy the coatings operations of Colpisa and its affiliates, including Colpisa Ecuador.
Colpisa produces and supplies coatings for architectural, industrial and automotive OEM clients in Ecuador, Colombia. The company owns and operates a coatings production plant in Colombia. Since 1996, Colpisa has been a technology licensee of PPG’s automotive OEM coatings and the company has been a distributor of PPG’s automotive refinish coating solutions since 2004.
PPG’s VP- automotive OEM coatings, Tim Knavish stated that with the acquisition of Colpisa coatings businesses, PPG receives an opportunity to extend its coatings footprint in Colombia and enables the company to better serve the automotive manufacturers. He also added that PPG will turn into a key global coatings supplier in Colombia via a direct automotive OEM manufacturing operation. The purchase of Colpisa’s automotive refinish business expands PPG’s refinish product portfolio and signifies PPG’s commitment to enhance its coatings presence in Latin America.