PPG acquires paint company ICR, continues to expand in 2020

ICR was founded in 1961 and is headquartered in Italy.

Gary Danowski, Vice President of PPG Global Automotive Refinish, said: "PPG’s acquisition of ICR will complement our current offerings in the automotive refinish and light industrial coatings industries, and add specialized value-added products to meet the needs of distributors and body repair shops.

According to observations in recent years, PPG acquisition channels are still active in various regions and professional markets, and continued to seek expansion acquisitions have become the company's long-term strategic goal

On January 16, 2020, PPG Industries announced the fourth quarter and full-year financial report of 2019

In 2019, PPG achieved sales of US$15.

PPG's annual sales reached 15.

Net profit from continuing operations in 2019 was US$1.

PPG Industry’s sales in the fourth quarter were US$3.

The net profit attributable to the parent company in the fourth quarter was US$292 million, a year-on-year increase of 13%

The report shows that the decline in performance in 2019 was mainly due to: the weakening of global manufacturing activities, which affected the market for many of the company's industrial products; the weak overall industrial demand in the United States and Europe; and the continued low productivity of the global automotive industry

Michael H.

Beginning in 2020, the organic growth of PPG high-performance coatings is expected to continue, and the industrial coatings sector is expected to resume growth in the second half of 2020