PPG Industries, Inc. - PPG STOCK NEWS

PPG (NYSE: PPG) has launched the new PPG PITTHANE® ULTRA LS polyurethane topcoat, designed for use in corrosive environments. This high-performance topcoat minimizes glare and conceals surface imperfections, making it ideal for applications like bridges and stadiums. The product meets ISO 12944:2018 standards for corrosion resistance and is suitable for USDA incidental food contact. It can be applied in temperatures as low as 20°F and provides an unlimited recoat window, emphasizing its ease of use. The topcoat is now available in the U.S. and Canada.

PPG (NYSE:PPG) has extended its cash tender offer for Tikkurila Oyj (NASDAQ OMX:TIK1V) shares to April 14, 2021. The offer, initiated on January 15, 2021, was set to expire on March 30, 2021. Both the European Commission and Finland's Ministry of Economic Affairs have approved the tender, which remains subject to further regulatory approvals. PPG anticipates these approvals will be obtained within the extended timeframe. Following this period, PPG expects to finalize the acquisition and will provide updates shortly thereafter.

PPG (NYSE: PPG) has received approval from the Ministry of Economic Affairs and Employment of Finland for its tender offer to acquire outstanding shares of Tikkurila Oyj (NASDAQ OMX: TIK1V). This approval is a key milestone that enhances PPG's certainty in completing the transaction. The tender offer is still subject to additional customary conditions, including the valid tender of over 66.7% of the outstanding shares. PPG will provide further updates post the extended tender offer period, which ends on March 30, 2021.

PPG (NYSE:PPG) has received the BOSMA ENTERPRISES® 2021 Employment Innovation Award for its efforts in creating job opportunities for the visually impaired. This award acknowledges PPG's collaboration with Bosma Enterprises, which began in August 2019, to assist individuals in light assembly work related to aerospace sealants. Jeff Mittman, CEO of Bosma Enterprises, highlighted the significant impact of this partnership, addressing the high unemployment rate among people with visual impairments. PPG's commitment to social responsibility and community support was further emphasized by their business manager, Sally Neher.

PPG (NYSE: PPG) is extending the tender offer period for Tikkurila Oyj (NASDAQ OMX: TIK1V) shares until March 30, 2021, originally set to expire on March 15, 2021. This extension follows the unconditional approval from the European Commission on March 10, 2021. The extension is due to pending regulatory approvals. PPG anticipates closing the acquisition shortly after the new deadline. Shareholders who have already tendered their shares need not take further action. Further updates will be provided after March 30, 2021.

PPG (NYSE: PPG) has received unconditional approval from the European Commission for its acquisition of Tikkurila shares (NASDAQ OMX:TIK1V), marking a significant milestone in the process. The transaction is still subject to customary conditions and other regulatory approvals, with the tender offer scheduled to expire on March 15, 2021. PPG anticipates closing the deal by the end of Q1 or early Q2 2021. PPG reported net sales of $13.8 billion in 2020, while Tikkurila generated EUR 582 million in revenue, primarily from Finland and neighboring regions.

PPG and Tikkurila entered a combination agreement on December 18, 2020, for a voluntary public cash tender offer for all outstanding shares not held by the company. The offer period began on January 15, 2021. The Finnish Financial Supervisory Authority approved the Finnish version of the supplement to the tender offer document on March 9, 2021, which includes Tikkurila's consolidated financial statements as of December 31, 2020. Detailed documents regarding the tender offer will be accessible in Finnish and English from March 10, 2021.

PPG (NYSE:PPG) has promoted John Stephenson to the position of director, acquisition integration. Reporting to CEO Michael McGarry, Stephenson will oversee the integration of PPG acquisitions, including the pending Tikkurila acquisition. With a tenure at PPG since 1985, he has extensive experience in finance leadership across various segments. His responsibilities will focus on ensuring project goals are met and delivering strategic synergies. PPG reported net sales of $13.8 billion in 2020 and operates in over 70 countries.

PPG (NYSE:PPG) has appointed Tony Wu as the new vice president of automotive refinish for Asia, effective March 1. Wu, previously vice president of Greater China industrial coatings and global electronic materials, succeeds Pauline Yuen, who is set to retire on March 19. Wu brings over 20 years of industry experience, having worked at companies like BASF and Henkel, and holds a bachelor's degree in biochemistry from the University of Shanghai and an MBA from IMD business school in Lausanne.