A Boxborough-based manufacturer of high-temperature-resistant and insulative coatings is being sold to a publicly owned Pittsburgh company, it announced today.
PPG Industries said it has reached an agreement to acquire privately owned Hi-Temp Coatings Technology Co. Inc. by the end of March. Financial terms were not disclosed.
Unique technologies bring “growth opportunities”
Hi-Temp supplies coatings that withstand extreme temperatures to protect both carbon steel and stainless steel substrates, PPG said. The company’s coatings are used widely in refineries, petrochemical plants, pulp and paper mills and power plants.
“PPG looks forward to integrating Hi-Temp coatings into our” products, said Tim Knavish, PPG vice president, protective and marine coatings. “Hi-Temp’s unique technologies bring multiple growth opportunities to PPG, particularly in the petrochemical segment.”
PPG’s stock is traded on the New York Stock Exchange. It supplies protective and marine coatings for the energy, marine and infrastructure-related industries.
