29 Sep 2006
PPG acquires Sierracin Corporation Strengthens aerospace transparencies business, enhances military offering
(September 28th , 2006 Shanghai China)PITTSBURGH, Sept. 20, 2006 – PPG Industries (NYSE:PPG) has acquired privately held Sierracin Corporation, Sylmar, Calif., a supplier of aerospace transparencies, including windshields, windows and canopies. Terms were not disclosed.
Sierracin employs approximately 600 people and has been a leading supplier of advanced composite transparencies to the aerospace industry since 1952. The company pioneered the development of plastic transparencies for military fighter jets and supplies lightweight transparencies to the commercial and general aviation industries. Sierracin is also a key supplier to the transparent armor industry. Sierracin’s advanced composite technologies complement PPG’s existing glass capabilities, and will provide PPG with a broader product portfolio for the aerospace and transparent armor industries.
“This acquisition demonstrates our strategy to grow our aerospace business by diversifying our range of technology,” said Charles E. Bunch, chairman and chief executive officer of PPG. “Sierracin’s military aerospace transparencies business, particularly its advanced composite products for the fighter jet industry, will enhance our offering to this key industry.”
PPG’s aerospace business supplies aircraft windshields and windows for the commercial, military, regional and general aviation industries. In addition, PPG is the world’s leading supplier of coatings, sealants and application systems serving original-equipment manufacturers and the maintenance segments of the aerospace industry. Pittsburgh-based PPG is also a global supplier of coatings, chemicals, optical products, glass and fiber glass. Sales in 2005 were US$10.2 billion.
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About PPG：
PPG Industries Inc. was founded in 1883 in Pittsburgh, USA. As a global manufacturing enterprise, it produces and sells coatings, glass, fiber glass, and chemicals and holds a leading position in the above areas. Up to now, PPG has set up more than 100 production facilities that employ approximately 30,800 employees in 21 countries. PPG has been listed on Fortune 500 for 51 years and is world’s leading transportation coatings manufacturer, as well as World’s leading manufacturer of industrial, aerospace and packaging coatings. Each year, PPG invests millions of dollars in developing products, processes, and the newest technology to meet the market requirements. PPG is one of the few publicly traded companies to pay its shareholders dividends continually since 1899, and has paid increased shares to shareholders for 35 consecutive years. PPG has not just first class products but also unique cooperate culture which prides its employees. According to Fortune, PPG ranked No. 1 in the “Global Most Admired”, chemical industries in 2004.
PPG is also one of the few global coatings companies that first invested in China in 1980s. In China, PPG produces and sells seven major products, including automotive coatings, industrial coatings, automotive refinishing coatings, packaging coatings, aerospace coatings, architecture coatings, and fiber glass. There are 7 plants in Tianjin, Suzhou Kunshan and Zibo, and trading companies, offices, labs and training centers in Beijing, Shanghai, Suzhou, Guangzhou, Shenzhen. So far in China PPG has invested more than USD300 million and more than 2700 employees; in AP areas, its employees exceeded 6700.
In China, the main customers of PPG Automotive coatings include GM, GE, Benz, Dongfeng Citroen, Dongfeng Peugeot, Chery, and Hainan Mazda. Nearly all auto manufacturers use PPG automotive coatings and technology. As for packaging coatings, PPG provides coatings to Coca Cola, Pepsi, etc. PPG provides aerospace coatings to Boeing, Air China, Southern Air, China Eastern etc. One thing that is especially meaningful is that Air China uses PPG coatings for the 3 2008 Olympics Plane and China Eastern uses the coatings for 2010 World Expo plane. Also, PPG provides industrial coatings to Haier, Nokia, Motorola, Whirlpool and Dell and its architectural coatings are widely used in many well-known buildings such as Tian Anmen square, Beijing Oriental Plaza, Beijing International Exhibition Center, Beijing China Industrial & Commercial Bank, Beijing airport, Shanghai Jinmao Building, Shanghai Pudong International Airport, Shanghai Oriental Pearl Tower, Guangzhou Baiyun International Airport, Tianjin Jinhuang Building and Taida Building etc.