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PPG Industries to acquire Italian automotive refinish product producer

Paints and coatings maker PPG Industries Inc. agreed to acquire INDUSTRIA CHIMICA REGGIANA - ICR SpA, or ICR.

PPG expects the transaction to support its production of automotive refinish and light industrial coatings and help it expand its product profile.

The deal is expected to close in early 2020, subject to customary closing conditions. Financial terms were not disclosed.

ICR is an automotive refinish products manufacturer based in Italy.