Asian PPG Industries to buy part of ICI India

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Asian PPG Industries to buy part of ICI India

The Associated Press | Wednesday, February 21, 2007 5:00 a.m.

PPG Industries announced Tuesday that its 50 percent-owned joint venture Asian PPG Industries Ltd. will buy ICI India Ltd.'s premium automotive refinish business for about $12 million. Based in India, Asian PPG Industries is jointly owned by Pittsburgh-based PPG Industries, a glass, sealant and paint maker, and Asian Paints Ltd. ICI India's premium refinish business employs about 60 people in India. The deal is expected to close in mid-March.

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