PPG to acquire Hi-Temp Coatings

PPG Industries, one of the global leaders in coatings and specialty materials, has reached a definitive agreement to acquire Hi-Temp Coatings Technology Co Inc, a privately-owned supplier of high-temperature-resistant and insulative coatings, based in Boxborough, Massachusetts. The transaction is expected to close in the first quarter, subject to customary closing conditions. Financial terms were not disclosed.
 
Hi-Temp is a global supplier of coatings that withstand extreme temperatures to protect both carbon steel and stainless steel substrates. The company’s coatings are used widely in refineries, petrochemical plants, pulp and paper mills, and power plants. Hi-Temp’s products, including HI-TEMP 1027, the industry-leading corrosion under insulation (CUI) coating, may also be applied while equipment is hot and in operation, reducing facility downtime during maintenance.
 
Tim Knavish, Vice President, Protective and Marine Coatings, PPG, said, “PPG looks forward to integrating Hi-Temp coatings into our product offering. Hi-Temp’s unique technologies bring multiple growth opportunities to PPG, particularly in the petrochemical segment. Combining their excellent corrosion-under-insulation coatings portfolio with PPG’s legacy portfolio enables us to provide additional high-quality options to meet more of our customers’ coatings needs.”