PPG Submits Proposal to Acquire Major Stake in LJF Aerospace and Automotive Sealants Businesses
PITTSBURGH -- PPG Industries has submitted an offer to acquire a majority interest in the aerospace and automotive sealants businesses of Le Joint Fracais (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 regulatory 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, acoustic and thermal insulation, fluid transfer systems, transmission and mobility. LJF’s aerospace and automotive sealants businesses 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.About PPG
相關(guān)閱讀
本站所有信息與內(nèi)容，版權(quán)歸原作者所有。網(wǎng)站中部分新聞、文章來源于網(wǎng)絡(luò)或會(huì)員供稿，如讀者對(duì)作品版權(quán)有疑議，請(qǐng)及時(shí)與我們聯(lián)系，電話：025-85303363 QQ：2402955403。文章僅代表作者本人的觀點(diǎn)，與本網(wǎng)站立場無關(guān)。轉(zhuǎn)載本站的內(nèi)容，請(qǐng)務(wù)必注明"來源：林中祥膠粘劑技術(shù)信息網(wǎng)（www.m.cnmindian.com）".
網(wǎng)友評(píng)論
加載中...
