PPG (NYSE: PPG), a global leader in paints, coatings, and specialty materials, announced that it has engaged Morgan Stanley & Co. LLC as financial advisor to assist in a review of strategic alternatives for its silica products business. PPG’s silica products business, which operates within the company’s specialty coatings and materials strategic business unit, manufactures … Read more
PPG announced that it expects sales volumes in the third quarter 2021 will be lower by $225 million to $275 million, compared to what the company anticipated at the start of the third quarter. PPG’s sales volumes are being impacted by the increasing disruptions in commodity supplies; further reductions in customer production due to certain … Read more
PPG announced that it has acquired Cetelon Lackfabrik GmbH, a manufacturer of coatings for automotive and light truck wheel applications. Financial details of the transaction were not disclosed. “The strategic acquisition of Cetelon will allow PPG to further build upon its existing coatings product portfolio, liquid and powder coating technologies and color matching capabilities,” said … Read more
AkzoNobel competes with U.S. rival PPG Industries on Monday, by making a $1.7 billion counterbid for Finland’s Tikkurila. AkzoNobel proposal includes an offer price of 31.25 euros ($37.8) per outstanding share, valuing Tikkurila at 1.4 billion euros ($1.69 billion), exceeding the 1.2 billion euros ($1.45 billion) offered by PPG two weeks ago. To obtain merger … Read more
PPG Industries has entered into a definitive agreement to acquire Finland’s Tikkurila at €25 a share or for about €1.1 billion ($1.35 billion) in cash. The acquisition cost includes assumption of debt and cash, PPG said in a statement on Friday. The transaction is expected to close in the second quarter of 2021. “The combination … Read more
PPG Industries has entered into a definitive agreement to purchase coatings manufacturer Ennis-Flint for $1.15 billion, adding a range of pavement marking products, including paint and thermoplastics, to its portfolio. “The acquisition of Ennis-Flint will further expand our product offering and opportunities in rapidly developing and high-growth mobility technology solutions,” Michael McGarry, chairman and chief … Read more
PPG expects that the ‘uncertain’ global economy amidst the coronavirus pandemic will impact its 2020 results. Michael McGarry, Chairman and CEO said Thursday “we will not know the full impact of COVID-19 on PPG and our business for some time but will work with urgency to take proactive actions to limit the impact as much … Read more
PPG announced that it has reached a definitive agreement to acquire Alpha Coating Technologies, LLC, a manufacturer of powder coatings for light industrial applications and heat sensitive substrates. The transaction is expected to close in the first quarter of 2020, subject to customary closing conditions. Financial terms were not disclosed. “Alpha’s best-in-class service, technology and … Read more