PPG and Dyrup reach purchase agreement

PPG Industries has announced that it has finalised the purchase agreement to acquire European coatings company Dyrup A/S, based in Copenhagen, Denmark, from its owner, Monberg & Thorsen, a public holding company. The final transaction value, including assumed debt, has been set at €115M (US$160M), based on final due diligence. Both parties have agreed on a closing date of January 5, 2012.