PPG Industries PPG has agreed to sell the assets of its Mexico-based Plaka plasterboard and cement-board business to Knauf International GmbH. Financial terms of the deal were not divulged.
PPG Industries acquired the Plaka business in 2014 as part of its buyout of leading Mexican paint company – Comex S.A. de C.V. – for $2.3 billion. Plaka makes plasterboard, cement board and drywall mainly for the Mexican construction market. The business, with around $30 million of sales in 2015, employs roughly 200 people and operates a manufacturing plant in Queretaro, Mexico.
The transaction, which is subject to regulatory approvals and other customary closing conditions, is expected to consummate in first-hal…
Read the full article at: http://www.nasdaq.com/article/ppg-industries-selling-plaka-plasterboard-business-to-knauf-cm727248