PPG Industries has finalised a purchase agreement to acquire European coatings company Dyrup for around €115m ($160m).
PPG executive vice-president Rich Alexander said that the acquisition will enable the company to continue to expand its geographic reach within Europe.
Its product portfolio will also benefit from Dyrup's strong, established brands, particularly wood-care products.
PPG Europe president Viktor Sekmakas added that the acquisition will help grow PPG's presence in key countries such as Poland, France and Denmark, and to establish it in Portugal, Spain and Germany.
''We look forward to completing the transaction in early January 2012," Sekmakas said.
