PPG acquires NanoProducts Corp.
PPG Industries has acquired NanoProducts Corp., which produces nanoproduct materials and develops nanoproduct technology.
Terms of the deal were not disclosed.
“This acquisition significantly strengthens PPG‘s nanotechnology patent portfolio and positions us as a world leader in nanoengineered materials,” said James A. Trainham, PPG vp-science and technology. “With these new materials, PPG can offer its customers and development partners unique, high value solutions. PPG will also license nanotechnology solutions, particularly in areas outside its existing businesses.”
PPG’s nanotechnology solutions include thin-film, optically clear nanocomposites for scratch and mar protection and the reflection of infrared and ultraviolet light from glass.
Longmont, Colo.-based NanoProducts was founded in 1994 and became a full-scale producer of nanopowders and other products by 2001. The company formed a partnership with Cabot Microelectronics in July 2004, which included an investment of $3.75 million by Cabot. In January 2005, Koch Genesis Co. became the majority owner following a $16.4 million investment in the company.
Pittsburgh-based PPG is a global supplier of paints, coatings, chemicals, optical products, specialty materials, glass and fiber glass. Sales in 2007 were $11.2 billion.
AZEK acquires railing systems company
Scranton, Pa.-based AZEK Building Products announced it has signed an agreement to acquire Toronto-based Composatron Manufacturing, maker of residential railing systems under the Premier and Trademark brands.
“These railings have set a new standard of quality and aesthetics, becoming one of the fastest growing in the industry,” said Ralph Bruno, president of AZEK Building Products. “… It reinforces the leadership of the AZEK brand in the premium, low-maintenance exterior category.”
Composatron railings, which are co-extruded with a wood composite core and vinyl capstock, will continue to be manufactured at Composatron’s facilities in the Toronto area.
“The addition of the railing was something our channel partners strongly requested,” Bruno said.
AZEK exterior products are available at more than 3,000 dealers in North America.
Masco reports international sales up, but domestic sales down
Taylor, Mich.-based Masco reported a net loss for the fourth quarter ended Dec. 31, 2007, at $151 million compared with a net loss of $187 million in the same quarter of 2006.
Fourth-quarter 2007 net sales from continuing operations declined 8 percent to $2.7 billion compared with $2.9 billion for the fourth quarter of 2006.
For the year, the company reported net income of $386 million, down 20 percent from $488 billion in 2006.
The company reported net sales of $11.8 billion, down 13 percent from $12.7 billion as reported in 2006. North American sales declined 12 percent, and international sales increased 15 percent.
The company said results for 2007 were adversely affected by lower sales volume of installation and other services, assembled cabinets and windows and doors in the new home construction market and a decline in consumer spending for home improvement products.
Masco is a major manufacturer of kitchen cabinets, plumbing products and architectural and design products, with brands including Arrow Fastener, Behr paint and Delta Faucet.