WASHINGTON (dpa-AFX) - PPG (PPG) announced that it has reached a definitive agreement to acquire MetoKote Corporation and its affiliates. MetoKote is a U.S.-based coatings services business with 2015 global sales of approximately $200 million. The transaction is expected to close in the third quarter 2016, subject to customary closing conditions. Financial terms were not disclosed.
MetoKote is headquartered in Lima, Ohio, and has more than 1,500 employees. MetoKote applies coatings to customers' manufactured parts and assembled products. It operates on-site coatings services within several customer manufacturing locations, as well as at regional service centers, located throughout the U.S., Canada, Mexico, the United Kingdom, Germany, Hungary and the Czech Republic.
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