Coatings business PPG Industries (NYSE: PPG) has made an offer to buy a majority stake of a unit of Le Joint Français.
PPG's offer is for Le Joint Français' aerospace and automotive sealants business. Le Joint Français has licensed PPG's aerospace sealant technology to distribute the aerospace and car sealant products. Terms of PPG's offer were not disclosed.
Le Joint Français, headquartered in Bezons, France, is part of Paris-based Hutchinson Group, which makes sealing systems, vibration, acoustic and thermal insulation, fluid transfer systems and other products.
Pittsburgh-based PPG has been actively building up its sealants and paints businesses through acquisitions. The company announced a deal to buy Revocoat, which makes high-performance polymers for the automotive industry, in December. In June, PPG picked up Consorcio Comex SA, a Mexican paint business, in a $2.3 billion deal. Also in June, PPG bought Masterwork, which makes architectural paint.