Will explore strategic options for remaining coatings activities in second quarter including automotive OEM and refinish. BASF and Sherwin-Williams have signed an agreement on the sale of the Brazilian decorative paints business, which is part of BASF’s Coatings division. The purchase price on a cash and debt-free basis is $1.15 billion. The transaction is structured […]
PPG Invests $44 million to Boost Global Powder Coatings Production
PPG (NYSE:PPG) announced a $44 million investment to upgrade five powder coating manufacturing facilities in the U.S. and Latin America. Collectively, the investment – $30 million for U.S. plants and $14 million for facilities in Latin America – is expected to increase overall capacity, add production capabilities for bonded metallic powders, improve processing times with automated […]
Group 1 Automotive Disposes of Brazil Operations
Group 1 Automotive, Inc. (NYSE: GPI), the automotive retailer with 201 dealerships and 46 collision centers located in the U.S. and U.K., announced that it has closed on the disposition of its Brazil operations. The company announced that its wholly-owned subsidiary GPI SA, LLC closed the sale transaction under the Share Purchase Agreement with Original […]
MAPFRE Selects Tractable to Apply AI to Auto Claim Adjustment in Brazil
MAPFRE, the largest Spanish multinational insurance group in the world, and Tractable, which has developed a market-leading AI-based technology solution to accelerate recovery from accidents and disasters, are collaborating to help MAPFRE customers have their cars repaired more efficiently, with the help of AI. MAPFRE will now apply Tractable’s AI to its auto claims, with […]
Copart Opens Seventh Location in Brazil
Copart, Inc. (NASDAQ:CPRT) announced the opening of its seventh location in Brazil. The facility is located at Estrada da Roseira, 6.725, bairro Borda do Campo, São Jose dos Pinhais, near the city of Curitiba, the capital of the State of Parana. The new Curitiba location, which can store up to 7,000 vehicles, is strategically located […]
Solera and Mapfre Joint Venture to Acquire CESVI Brazil
Solera Holdings, Inc. and MAPFRE S.A., the global insurer, announced that their existing joint venture, Solera Technology Centre GmbH (STC), has signed a definitive agreement to acquire CESVI (Center for Experimentation and Road Safety) Brazil. The acquisition is subject to closing conditions, including approval by the Brazilian competition regulatory authority. CESVI Brazil is an automotive […]
Saint-Gobain Acquires TekBond in Brazil
Saint-Gobain announced it has signed an agreement to acquire TekBond, the number two adhesives business in Brazil operating in the construction sector and on the automotive aftermarket. TekBond supplies a broad range of adhesives, sealants, sprays and masking tapes all over Brazil. Its offer is based on a detailed knowledge of the market and customers […]