Comex's Paint Stores Controlled by PPG

PPG Industries has completed the acquisition of Comex Central America, adding 57 stores to its sales network in Central America in the paint and refurbishment line.

Monday, June 8, 2015

From a press release issued by PPG Industries:

PITTSBURGH, June 2, 2015 – PPG Industries (NYSE:PPG) today announced that it has acquired Consorcio Latinoamericano, which operates a network of 57 paint stores in Central America. Financial terms were not disclosed.

“This acquisition expands PPG’s operations in the growing Central American region,” said Michael McGarry, PPG president and chief operating officer. “The purchase enables PPG to leverage an extended stores network to grow the GLIDDEN® brand in Panama and offer additional PPG products to customers throughout the region.”

With this acquisition, PPG will operate 87 company-owned stores across Belize, El Salvador, Guatemala, Honduras, Costa Rica, Nicaragua and Panama. PPG plans to brand stores in Panama with the Glidden brand, which is well recognized in the region, and offer products from its protective and marine coatings business in stores throughout Central America. Consorcio Latinoamericano operated as a concessionaire network for PPG-Comex, the company’s architectural paint and coatings business in Mexico and Central America. PPG completed its acquisition of Comex in November.

More on this topic

Paint Industry in the Region is Moving

June 2015

PPG Industries is preparing the relaunch of the Glidden brand in Central America from Panama, where it has already opened nine new stores and plans to open another 16, on top of the 75 already operating in the country.

With a view to strengthening operations in the region, after the acquisition of Comex , PPG Industries will invest $6 million in renewing its portfolio and the position of the Glidden brand in Central America.

How The Paint Market Stands

May 2012

Following the purchase of Kativo by Grupo Mundial, the main competitors in Central America in the paint sector are Pintuco, Sur, Comex and Lanco.

With the acquisition of Kativo by the Colombian firm Pintuco for $120 million, pressure will increase in the Central American paint market competition.

Pintuco Acquires Company in Costa Rica for $5 million

October 2011

As part of its expansion plans in the Central American market, the Colombian company Pintuco has acquired the operations of the paint company Vastalux.

A press release by Pintuco states that : "The acquisition will be legally formalized once the range of processes required by Costa Rican law has been completed and all other conditions agreed with Vastalux have been fulfilled."

Grupo Diveco Invests $3 Million in Costa Rica

October 2009

Grupo Diveco announced the acquisition of two assets: the brand "Luxor", and its associated mattresses factory.

By merging LUXOR into Grupo DIVECO, the company is consolidating its operations in the region. It has production centers in Guatemala, Honduras, Nicaragua and now Costa Rica, and it controls a distribution network of over 2.000 points of sale in all the countries of Central America.

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