It is reported that South African industrial firm Barloworld has agreed to sell parts of its Australian coating unit to PPG Industries, including its Villawood production facility in New South Wales in Australia. Completion of the acquisition was subject to customary closing conditions, including receipt of required regulatory approvals. Terms were not disclosed.

Barloworld Coatings Australia produces the Taubmans, Bristol and White Knight brands of architectural coatings, at Villawood in New South Wales and Glen Waverley in Victoria. Barloworld will retain its Glen Waverley plant and would continue to manufacture the Bristol range of products for PPG until production and distribution activities were transferred to other locations.

Mr Clive Thomson CEO of Barloworld said that the deal represented another important step in implementing the strategic actions that the company announced previously.

PPG said in a statement that the purchase of Barloworld Coatings Australia would make PPG the largest coatings manufacturer in Australia. Mr J. Rich Alexander senior VP for coatings of PPG said "We are continuing to accelerate our profitable growth in coatings by making strategic acquisitions.”