PPGIndustries Inc. agreed to buy Consorcio Comex SA for about $2.3 billion, picking off the Mexican coatings and paint maker that competitor Sherwin- Williams Co. failed to buy because of antitrust issues.

Acquiring closely held Comex will givePPGpaint-making capacity in Mexico and Central America and sales through about 3,600 stores in the region, Pittsburgh-basedPPGsaid in a statement.PPGrose 5.6 percent in pre-market trading.

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