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PPG Industries Inc.(NYSE:PPG - News) completed the acquisition of Denmark based European coatings company Dyrup A/S from Monberg & Thorsen, for 115 million ($150 million). The deal was previously announced in May 2011.Dyrup is engaged in manufacturing architectural coatings and specialty products and generated revenue of $270 million in 2010. Dyrup, which manufactures Bondex, Gori and Xylophene, has six factories and 950 employees.The buyout of Dyrup will enable PPG to continue to expand its geographic reach within Europe, as well as expand its product portfolio by including Dyrup's established strong brands, particularly in wood care products. Dyrup and PPG represent a strong strategic combination with possibilities for further growth and synergies.In October 2011, the company released its third-quarter 2011 results. [Read the full article] DETROIT (Reuters) - Europe needs auto industry consolidation to reverse poor operating conditions and uncertainty in a market burdened by overcapacity and little or no sales growth potential this year, the chief executive of Fiat SpA said on Monday.Speaking with reporters on the sidelines of the Detroit auto show, Sergio Marchionne said he would be willing, in principle, to be part of a consolidation that would create another car company in Europe rivaling Volkswagen AG in size."If you take two of the European players and put them together, you're going to get the right answer," Marchionne said."You've got Volkswagen that is doing roughly 20 percent of the market share in Europe. I think you need to create another Volkswagen in terms of reach. How that happens -- it's a Rubik's cube."Marchionne, whose company runs Chrysler Group LLC, said he sees no improvement in European sales industrywide in 2012. [Read the full article] 
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