PPG Industries has recently announced that it has successfully acquired the European paint manufacturer Tetra Pvt. Ltd. in Copenhagen, Denmark, for a price of 115 million euros (US$150 million) including inheritance debt.
It is understood that Dile is a European manufacturer of architectural coatings and special products. With sales of approximately 190 million euros (US$270 million) in 2010, it has 950 employees and 6 production sites in Europe. Di Le sells its products mainly in Denmark, France, Germany, Portugal, Poland and Spain through professional channels and DIY self-installation channels.
“We look forward to the post-acquisition integration of Emerson's exquisite employees into our European operations to ensure the future development of the DiLe brand and retain customers.†PPG leads executive vice president of global architectural coatings business Aleander (J (Rich Alexander) said, "This acquisition will help PPG open up the architectural coatings market in several important European countries that are currently less well-known or have not yet entered, and it will also help further expand our product line."
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