A longtime, major manufacturer headquartered in Lima-Allen County is again changing hands.
The owners of Metokote Corporation, Platinum Equity of Los Angeles have announced they have sold Metokote to PPG Industries of Pittsburgh. PPG also has a facility in Shawnee Township. Metokote, located on Neubrecht Road, has 30 facilities in the United States, Canada, Mexico and Europe. Metokote is an industrial metal coating services company.
According to Dow Jones Business Week, Metokote has 15 hundred employees worldwide and had about 200 million dollars in sales last year. PPG does billions of dollars in revenue each month. No word on what this purchase will mean for the Lima operation or its employees, or if Metokote's name will remain. The terms of the deal were not disclosed.
