PPG Industries Inc. said Thursday it is buying SigmaKalon Group, a Dutch paint and coatings producer, from a private equity firm in a deal that would help it expand operations in Europe and Asia.

The Pittsburgh-based maker of paints, coatings, chemicals and other products offered to buy the company from Boston-based Bain Capital earlier this year.

It said the deal was valued at about $3.1 billion, including assumed debt. A company spokesman declined to say how much debt was included in that figure. The acquisition is subject to regulatory approval.

Discussions with employee groups before the deal was signed were “cooperative and constructive,” Michael H. McGarry, vice president of coatings for PPG Europe, said in the statement.

Charles E. Bunch, PPG’s chairman and chief executive, said when the company announced its offer in July that the acquisition would more than double PPG’s sales in Europe, where SigmaKalon is the second-largest coatings company.

Bunch said the move would strengthen PPG’s architectural paint business and supplement its protective and marine coatings businesses, while giving PPG a foothold in the European architectural coatings market.

SigmaKalon supplies architectural, protective, marine and industrial coatings mostly in Europe, Africa and Asia. Bunch said it has grown significantly in Eastern Europe, especially in Poland, and recently bought an architectural coatings firm in China.

SigmaKalon, based in Uithoorn, Netherlands, had 2006 revenue of about $2.76 billion, according to PPG. Its brands include Sigma Coatings, Johnstone’s, Leyland, Primalex and Seigneurie, among others. It was acquired by Bain Capital four years ago.

SigmaKalon was formed in 1999 through a merger of Britain-based decorative paint maker Kalon Group, a subsidiary of Total SA, and Sigma Coatings, owned by Belgian oil company Petrofina.

PPG reported a profit of $711 million on revenue of $11.04 billion for the fiscal year 2006. The company employs more than 34,000 people in more than 25 countries.

Last month, PPG said it would sell its automotive equipment and replacement glass and service businesses to a private equity firm for about $500 million. It said the sale would allow it to focus on coatings and specialty products and reduce its exposure to the U.S. automotive market.

PPG shares rose 59 cents to $76.87 Thursday.

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On the Net:

PPG Industries: http://corporateportal.ppg.com/ppg/

SigmaKalon: http://www.sigmakalon.com/