PPG Sells African Activities to Océinde
US paintmaker PPG has agreed to sell certain business activities in Senegal, Ivory Coast, Cameroon, Gabon and Algeria, to French industrial group Océinde. Financial terms were not disclosed.
Océinde will continue to offer the existing range of products, including PPG’s Seigneurie brand of paint, through a licensing and distribution agreement. PPG said the move will strengthen a longstanding relationship between the companies, which includes the supply of specialty materials from Océinde to PPG.
“We are convinced that this change of business model will benefit our customers in Africa,” said Pascal Tisseyre, PPG vice president, architectural coatings, Europe, Middle East and Africa - South. “Both companies are looking forward to working together to better serve the African market.”
PPG employees in the countries concerned will join Océinde, which has a range of business activities in Europe, Africa and the Indian Ocean.
In separate news, PPG announced it closed its acquisition of the powder coatings business of Italy’s Arsonsisi on Apr. 1. Milan, Italy, is also the location of a new European Central Powder Coatings R&D Center that PPG opened last month. PPG said the facility, which includes a customer application center, will focus on developing innovative powder coatings.
“The new powder coatings R&D center boasts a critical mass of capabilities that will significantly strengthen our product development and application efforts,” said Olivier Magnin, PPG technical director, industrial coatings, Europe, Middle East and Africa. “We also can leverage competencies at the site, including our corporate color group, our global center of excellence for waterborne coatings, and our state-of-the-art analytical and weathering lab, as One PPG.”
Author: Elaine Burridge, Freelance Journalist
