PPG Industries has completed its purchase of Denmark-based
coatings company Dyrup A/S from its owner, public holding
company Monberg & Thorsen.
The final transaction value, including assumed debt, was
115 million ($150 million), subject to customary
post-closing adjustments, the company said.
We are pleased to begin the processes of integrating
Dyrup and its many highly skilled employees into our European
business and of securing the future for Dyrups brands and
customers, said J. Rich Alexander, PPG executive vice
president who leads all of the companys architectural
The acquisition of Dyrup will help grow PPGs
presence in several key European countries where PPG today has
little or no architectural coatings presence, as well as
broaden our product offerings, he added.
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.
Dyrups brands include Bondex, Gori and Xylophene, and
its products are sold primarily in Denmark, France, Germany,
Portugal, Poland and Spain through professional and