CRANBERRY TOWNSHIP, Pa. — American Industrial Partners completed its acquisition on Monday of the U.S. and Canadian architectural paint business of PPG.
The company has been renamed to The Pittsburgh Paints Company (Pittsburgh Paints Co.), with the headquarters remaining in the Greater Pittsburgh area.
AIP said the name carries a rich history dating back to 1897, when the original company began marketing paints designed to be both durable and visually appealing.
“Now a newly independent company, we call on Pittsburgh Paints Co.’s 125-year legacy of innovation and product excellence as we chart an aggressive course of transformation and renewal within this extraordinary industry,” said Rick Hoffman, Partner at AIP. “Pittsburgh Paints Co.’s broad foundation, respected brand portfolio, and experienced team are primed for growth, and we are proud to be their partners.”
It was announced in October that PPG agreed to sell its architectural coatings business for $550 million. PPG also said it planned to lay off 1,800 employees and close other facilities.
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