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PPG Industries has reached a definitive agreement to acquire all of the assets of Canal Supplies, Inc (CSI), a Panama-based privately owned distributor of protective and marine coatings to customers in Central America. The transaction is expected to close in Q2.
The acquisition will enhance access to PPG products for customers in Central America and specifically in Costa Rica and Panama, which are growth markets for both protective and marine coatings.
"PPG looks forward to continuing to build its supply networks throughout Central America and meet the growing demand for our products in Panama. The Panama Canal is an important regional economic hub for the industry,” said Tim Knavish, PPG Vice President, Protective and Marine Coatings.