PPG to buy bodyshop distribution business from Unipart
Dec 17 (Reuters) - PPG Industries Inc (PPG.N: Quotazione) said it would acquire the bodyshop distribution business of Unipart Automotive through a European subsidiary to strengthen its presence in Europe.
Financial terms of the deal, which is expected to close on or about Jan. 31, 2008, were not disclosed, the supplier of paints, coatings, chemicals, optical products, glass and fibre glass said in a statement.
The business will operate as a unit of PPG under the name Brown Brothers Distribution UK Ltd, the company said, adding that about 475 Unipart Automotive bodyshop employees will transfer with the business following the change of ownership. (Reporting by Shamik Paul in Bangalore; Editing by Deepak Kannan)
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