PPG gains majority interest in sealants firm
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PITTSBURGH – PPG Industries announced Thursday it has completed its acquisition of a majority interest in the aerospace and automotive sealants and adhesives business of Le Joint Français, a long-term licensee of PPG’s aerospace sealant technology.
The new joint venture is called Sealants Europe SAS. Financial terms were not disclosed.
“We are excited about the potential benefits that Sealants Europe SAS holds for customers and our business,” said Michael McGarry, PPG president and chief executive officer. “This venture will deliver enhanced service to our aerospace customers in the region, greater reach to supply sealants and adhesives, and an expanded automotive products portfolio.”
Sealants Europe SAS employs more than 200 people and will continue to operate in Bezons, France.
LJF is headquartered in France and is part of the Hutchinson Group, a world leader in sealing systems, vibration, acoustic and thermal insulation, fluid transfer systems, transmission and mobility.