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Stock Market & Financial Investment News

News Breaks
July 1, 2014
08:11 EDTPPGPPG Industries completes Masterwork Paint acquisition
PPG Industries (announced that its North American architectural coatings business has completed its acquisition of the Masterwork Paint. The acquisition of Masterwork’s 13-store network throughout Western Pennsylvania, Ohio and New York expands PPG’s company-owned stores footprint. Financial terms were not disclosed.
News For PPG From The Last 14 Days
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June 18, 2015
13:24 EDTPPGPPG now sees cost synergies associated with Comex $45M-$50M by end of 2016
PPG Industries held a meeting for securities analysts in Cabo San Lucas, Mexico. During the meeting, PPG reviewed details of PPG-Comex Mexican operations, provided information about the growth of the Mexican economy and PPG-Comex, and toured PPG-Comex concessionaire locations. The company indicated during the meeting it expects cost synergies associated with the Comex acquisition to be $45M-$50M by the end of 2016, up from the company’s previous guidance of $30M-$40M.PPG also issued new acquisition-related revenue synergy targets for the PPG-Comex acquisition. The company expects to generate $40M-$50M in revenue within two years from sales of legacy PPG products through the PPG-Comex distribution network. PPG set a separate revenue target of $60M-$70M within five years for incremental coatings sales in Central America. PPG had previously issued no incremental revenue guidance relating to Comex. PPG completed its acquisition of Comex in November 2014.

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