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Home  > Markets & companies  > Coatings market  > PPG to acquire Panama-based protective and...

Tuesday, 24 September 2019
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Markets & companies, Coatings market

PPG to acquire Panama-based protective and marine coatings distributor

Thursday, 27 March 2014

The acquisition will enhance access to PPG products for customers in Central America, and specifically in Costa Rica and Panama, which are growth markets for both protective and marine coatings.

PPG Industries has reached a definitive agreement to acquire substantially all of the assets of Canal Supplies, Inc. (CSI), a privately-owned distributor of protective and marine coatings to customers in Central America. Source: erdquadrat - Fotolia.com
PPG Industries has reached a definitive agreement to acquire substantially all of the assets of Canal Supplies, Inc. (CSI), a privately-owned distr...

PPG Industries has reached a definitive agreement to acquire substantially all of the assets of Canal Supplies, Inc. (CSI), a privately-owned distributor of protective and marine coatings to customers in Central America. The company is based in Panama. The transaction is expected to close in the second quarter, subject to customary closing conditions.

The acquisition will enhance access to PPG products for customers in Central America, and specifically in Costa Rica and Panama, which are growth markets for both protective and marine coatings. "PPG looks forward to continuing to build its supply networks throughout Central America and meet the growing demand for our products in Panama. The Panama Canal is an important regional economic hub for the industry,” said Tim Knavish, PPG vice president, protective and marine coatings. "The acquisition will increase PPG’s ability to deliver protective and marine coatings to customers throughout the region.”

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