PPG buys European coatings maker

PPG Industries Inc. said Thursday it has completed its acquisition of architectural coatings company Dryup A/S for $150 million.

Dryup is based in Copenhagen and was owned by Monberg & Thorsen, a public holding company. PPG said the integration of the company into its European business will help to grow PPG's presence and product offerings in several countries.

Dryup had 2010 sales of $270 million, employs about 950 people and has six manufacturing facilities in Europe