PPG completes sale of silicas products business to QEMETICA
PITTSBURGH–(BUSINESS WIRE)–
PPG (NYSE: PPG) today announced that it has completed the sale of its silicas products business for approximately $310 million in pre-tax proceeds to QEMETICA a Warsaw, Poland-based, privately held manufacturer of soda ash, silicates and other specialty chemicals.
PPG’s silicas products business manufactures and supplies precipitated silica products to major companies around the world as performance-enhancing additives. In 2023, the silica products business represented between 1-2% of PPG’s total net sales. The transaction includes PPG’s precipitated silicas manufacturing facilities in Lake Charles, Louisiana, and Delfzijl, The Netherlands. In addition, QEMETICA will lease silicas manufacturing and research and development operations at PPG sites in Barberton, Ohio and Monroeville, Pennsylvania, respectively. The silicas products business is led by about 400 employees.
“We are pleased to complete this transaction with QEMETICA, and I want to thank the silicas products business employees for their dedication and commitment to the business and to PPG customers throughout the years,” said Tim Knavish, PPG chairman and chief executive officer.
QEMETICA ranks as a leading chemical manufacturer in Europe, boasting top-tier European production capacity in soda ash, evaporated salt, and silicates. The company’s growth strategy focuses on building a global presence through strategic acquisitions and expansion of operations beyond Europe, aiming to diversify its portfolio and tap into new markets. QEMETICA combines a modern approach to business with a commitment to sustainable development.
The transaction is the result of PPG’s evaluation of strategic alternatives for the business, which was first announced on January 9, 2024. Morgan Stanley & Co. LLC acted as PPG’s financial advisor and Hogan Lovells served as its legal advisor.
PPG: WE PROTECT AND BEAUTIFY THE WORLD®
At PPG (NYSE: PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $18.2 billion in 2023. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.
The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.
CATEGORY Corporate
View source version on businesswire.com: https://www.businesswire.com/news/home/20241124337289/en/
PPG Media Contact:
Mark Silvey
Corporate Communications
+1-412-434-3046
[email protected]
PPG Investor Contact:
Alex Lopez
Investor Relations
+1-412-434-3466
[email protected]
investor.ppg.com
KEYWORDS: Ohio Louisiana Pennsylvania Netherlands North America United States Europe Poland
INDUSTRY KEYWORDS: Chemicals/Plastics Manufacturing
MEDIA:
| Logo |
 |