PPG Industries declared that it has acquired the European coatings company, Dyrup A/S, from its owner, Monberg & Thorsen, which is a public holding firm. The contract value, including unspecified debt, was €115 million.
PPG’s Executive Vice President, J. Rich Alexander stated that the purchase of Dyrup will enable the company to expand its product portfolio and also broaden its presence in important European countries where PPG has negligible presence in the architectural coatings segment. Alexander further stated that the company is happy to initiate the process of merging Dyrup and its skilled workers into its European business.
Dyrup, based in Copenhagen, Denmark, manufactures architectural coatings and specialty products. The company raised revenue of around €190 million in its 2012 sales. It operates six production plants and employs roughly 950 people in Europe. The company’s brands include Xylophene, Gori , and Bondex and its products are distributed mainly in Spain, Denmark, Germany, Poland, Portugal and France via expert and do-it-yourself channels.
PPG Industries strives to be a global coatings and specialty products company. The firm, via innovation, color and sustainability, assists clients in transportation, industrial, construction markets, consumer products and aftermarkets to improve its business portfolio. The company was established in 1883 and has its headquarters in Pittsburgh with operations in over 60 countries across the world. It raised revenue of $13.4 billion in 2010 sales.