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PPG Industries has acquired NanoProducts Corp., which produces nanoproduct materials and develops nanoproduct technology.
Terms of the deal were not disclosed.
“This acquisition significantly strengthens PPG‘s nanotechnology patent portfolio and positions us as a world leader in nanoengineered materials,” said James A. Trainham, PPG vp-science and technology. “With these new materials, PPG can offer its customers and development partners unique, high value solutions. PPG will also license nanotechnology solutions, particularly in areas outside its existing businesses.”
PPG’s nanotechnology solutions include thin-film, optically clear nanocomposites for scratch and mar protection and the reflection of infrared and ultraviolet light from glass.
Longmont, Colo.-based NanoProducts was founded in 1994 and became a full-scale producer of nanopowders and other products by 2001. The company formed a partnership with Cabot Microelectronics in July 2004, which included an investment of $3.75 million by Cabot. In January 2005, Koch Genesis Co. became the majority owner following a $16.4 million investment in the company.
Pittsburgh-based PPG is a global supplier of paints, coatings, chemicals, optical products, specialty materials, glass and fiber glass. Sales in 2007 were $11.2 billion.