PPG Industries says it has reached a definitive agreement to acquire the remaining interest in Chemfil Canada, a joint venture of PPG and Madinal Enterprises.
The transaction is expected to close in the third quarter, subject to customary closing conditions. Financial terms were not disclosed.
Chemfil Canada produces pretreatment products, as well as some general industrial chemicals, for automotive OEMs and industrial customers in Canada.
The acquisition will enhance PPG's pretreatment presence and capabilities in Canada and after closing, the acquired products and services will be offered under the PPG name.
At the conclusion of the transaction, an affiliate of Madinal Enterprises will own the Windsor production facility and certain non-pretreatment business as well as product lines, which will continue to use the Chemfil name.
"Acquiring the pretreatment business of Chemfil Canada will enable PPG to further strengthen its pretreatment offering and services in this area for global automotive OEM and industrial customers," said PPG senior vice president, automotive coatings, Cindy Niekamp.
"PPG looks forward to enhancing supply capabilities for Chemfil customers and providing them with access to PPG's full portfolio of coatings products."