PPG Industries has submitted an offer to
acquire a majority interest in the aerospace and automotive sealants businesses
of Le Joint Français (LJF). LJF is a supplier of sealants and adhesives products
for the aerospace and automotive industries and has been a long-term licensee of
PPG’s aerospace sealant technology.
LJF’s aerospace and automotive sealants businesses would be spun-off to
form a new, separate entity, of which
PPG would be the majority owner.
PPG anticipates closing the transaction
in the second half of 2015, following
completion of the French works council
consultation process, receipt of regula-
tory approvals and satisfaction of other
customary closing conditions. Financial
terms were not disclosed.
LJF is headquartered in France and is
part of the Hutchinson Group, a world
leader in sealing systems, vibration, acous-
tic and thermal insulation, fluid transfer
systems, transmission and mobility. LJF’s
aerospace and automotive sealants busi-
nesses employ more than 200 people, and
the new entity would continue operations
in Bezons, France, at the facility where
these businesses are currently based.
“This venture is a natural progression
for the two companies, as LJF has been a
licensee of PPG technology for more than
60 years. This would allow us to serve
our aerospace and automotive customers
with greater geographic reach and with
a wider array of automotive products,”
said Michael McGarry, PPG chief operating officer.
Axalta and Kinlita Form
JV to Provide Coatings to
China’s Commercial Truck
Market
Axalta Coating Systems and Shanghai
Kinlita Chemical have signed an agreement to form a joint venture in China.
Aimed at driving deep into China’s
burgeoning commercial truck market, the agreement leverages Axalta’s
position in coating technologies with
Kinlita’s position in China’s commercial truck market to “create a powerful and compelling new presence in
China’s commercial truck market.” The
commercial truck industry plays a vital
role, from facilitating the transport of
goods to supporting the expansion of
the nation’s infrastructure, in supporting
China’s economic development.
“We are very pleased to be signing this joint venture agreement for
deeper cooperation with Kinlita,” said
Michael Cash, senior vice president of
Axalta Coating Systems and president
of Axalta’s Industrial Coatings business.
“Our agreement brings together our
leadership position in supplying the commercial vehicle market globally with advanced coating technologies, such as our
environmentally responsible waterborne
primer and basecoats that can help commercial truck manufacturers reduce their
overall environmental footprint, and
Kinlita’s rich history and strong market
position. This is a win-win development
– for our customers and for both of our
companies in China.” CW
Index to Companies
This index gives the starting page for a department or feature with a significant reference to a manufacturer of paint, coatings, adhesives and sealants
Subsidiaries are indexed under their own names.
AkzoNobel.................................................................................................. 8, 27
Axalta Coating Systems......................................................................7, 8, 27, 35
BASF ............................................................................................................... 13
Benjamin Moore ............................................................................................. 24
Kelly-Moore.................................................................................................... 13
Hardide Coatings .............................................................................................. 8
Hempel .................................................................................................. 8, 13, 27
Henkel .............................................................................................................. 8
Minwax .......................................................................................................... 24
Nippon Paint..................................................................................................... 8
Thompson’s Waterseal..................................................................................... 24
PPG..............................................................................................7, 8, 27, 35, 82
Sherwin-Williams ........................................................................................ 8, 13
PPG Makes Offers to Acquire Le Joint Francais
