PPG Industries (PPG) Finalizes Dyrup A/S Acquisition Terms; Price Set at $160M
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PPG Industries (NYSE: PPG) has finalized the purchase agreement to acquire European coatings company Dyrup A/S, based in Copenhagen, Denmark, from its owner, Monberg & Thorsen, a public holding company. The final transaction value, including assumed debt, has been set at €115 million ($160 million), based on final due diligence. Both parties have agreed on a closing date of Jan. 5, 2012.
Dyrup, a European producer of architectural coatings and specialty products, had 2010 sales of approximately €190 million ($270 million). It employs about 950 people and operates six manufacturing facilities in Europe. Dyrup’s brands include Bondex, Gori and Xylophene, and its products are sold primarily in Denmark, France, Germany, Portugal, Poland and Spain through professional and do-it-yourself channels.
Dyrup, a European producer of architectural coatings and specialty products, had 2010 sales of approximately €190 million ($270 million). It employs about 950 people and operates six manufacturing facilities in Europe. Dyrup’s brands include Bondex, Gori and Xylophene, and its products are sold primarily in Denmark, France, Germany, Portugal, Poland and Spain through professional and do-it-yourself channels.
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