DOW JONES NEWSWIRES

PPG Industries (NYSE:PPG) (PPG) said Thursday it will pay $115 million plus a working capital adjustment to buy the coatings business of Ameron International Corp. (NYSE:AMN) ( AMN)

The unit rang up $210 million in 2005 sales.

The acquisition expands PPG's protective coatings business into Europe and Australia, and it will enable the company to participate in the marine coatings market.

PPG also said it will buy the 50% of Dongju Industrial that it doesn't already own for an undisclosed sum.

PPG said both acquisitions will lift its coatings sales by 7% or $400 million.

-Steve Gelsi; 415-439-6400; AskNewswires@dowjones.com

    (END) Dow Jones Newswires   06-29-06 0828   Copyright (c) 2006 Dow Jones & Company, Inc.