PPG Agrees to Buy Remaining Stake in ChemFil Canada Joint Venture
Coatings company PPG Industries has reached an agreement to buy the remaining share in Chemfil Canada, its joint venture with Madinal Enterprises. The transaction is expected to close in the third quarter, subject to the usual closing conditions. Financial terms were not disclosed.
Chemfil Canada produces pretreatment products, as well as some general industrial chemicals, for automotive original equipment manufacturers (OEMs) and industrial customers in Canada.
“Acquiring the pretreatment business of Chemfil Canada will enable PPG to further strengthen its pretreatment offering services in this area for global automotive OEM and industrial customers,” said Cindy Niekamp, PPG’s senior vice president, automotive coatings.
Once the deal has been finalized, an affiliate of Madinal Enterprises will own the production plant in Windsor, Ontario, as well as certain non-pretreatment business and product lines that will continue to use the Chemfil name.
