PPG Industries, Inc. - PPG STOCK NEWS

PPG (NYSE: PPG) has appointed Bhaskar Ramachandran as the new vice president and chief information officer (CIO), succeeding Chris Caruso, who will retire on March 1, 2021. Ramachandran comes from Jabil Inc., where he led a cloud-based strategy for improved production efficiency. His extensive background includes leadership roles at Textron, Sybase, Prudential Financial, and IBM/PwC. Caruso, who has been with PPG for 24 years, is recognized for his contributions to IT innovation and strategy development.

PPG (NYSE:PPG) has announced a definitive agreement to acquire Wörwag, a coatings manufacturer for industrial and automotive applications. The deal is expected to finalize in the first half of 2021, pending regulatory approvals. Wörwag, founded in 1918 and based in Stuttgart, Germany, reported approximately 220 million euros in revenue for 2020 and employs around 1,100 people globally. This acquisition aims to enhance PPG's product offerings and expand customer distribution.

On January 8, 2021, the VersaFlex Family of Companies announced its acquisition by PPG (NYSE: PPG), a leading global paint and coatings manufacturer. The transaction, advised by Lazard Middle Market, is expected to finalize in Q1 2021, pending customary closing conditions. VersaFlex specializes in protective coatings and foams, serving diverse sectors including industrial and transportation. VersaFlex's President, Rob Pawlak, expressed enthusiasm about the partnership, highlighting the alignment with PPG's high standards and commitment to sustainable value for customers.

PPG (NYSE:PPG) has increased its cash offer to €27.75 per share for Tikkurila (NASDAQ OMX: TIK1V), raising the total transaction value to approximately €1.24 billion, including debt assumption. This amendment follows a competing offer received by Tikkurila. The tender offer is set to commence on or around January 15, 2021, with anticipated completion in Q2 2021, subject to customary conditions. PPG's CEO highlighted the synergistic benefits of the acquisition, which includes leveraging Tikkurila’s distribution network in the Nordic region.

PPG (NYSE: PPG) has announced a definitive agreement to acquire VersaFlex, a company specializing in polyurea, epoxy, and polyurethane coatings, primarily for water and wastewater infrastructure. The acquisition, expected to close in Q1 2021, will enhance PPG's product offerings and expand its market capabilities. VersaFlex, part of DalFort Capital Partners, recorded an estimated 2020 revenue of $70 million and operates three manufacturing sites. This strategic acquisition aims to strengthen PPG's technology portfolio and customer engagement.

PPG has appointed Tony Wu as the new vice president for Greater China industrial coatings and global electronic materials, effective January 1, 2021. Wu joined PPG in 2014 and has expanded his leadership role in the electronic materials segment since 2019. He brings over 20 years of experience in the coatings and chemicals industry, having previously worked at notable companies like BASF and Henkel. Wu holds a bachelor’s degree in biochemistry and an MBA.

PPG (NYSE: PPG) has successfully completed the acquisition of Ennis-Flint, a leader in pavement markings and traffic safety solutions. Ennis-Flint, generating approximately $600 million in revenue for 2020 with mid-teen EBITDA margins, enhances PPG's portfolio in the traffic safety sector. This acquisition is expected to strengthen PPG’s market position and provide synergies in operations. More financial details will be shared during PPG's upcoming fourth quarter earnings call in January 2021.

PPG (NYSE: PPG) is set to announce its fourth quarter and full-year 2020 earnings on January 21, following the close of U.S. stock markets. A teleconference will take place on January 22 at 8 a.m. ET, featuring key executives including Michael H. McGarry and Vincent J. Morales. Interested parties can register for the call or access a live webcast via PPG's Investor Center. The telephone replay will be available from January 22 through February 5. PPG reported net sales of $15.1 billion in 2019, serving diverse markets globally.

PPG has announced a definitive agreement to acquire Tikkurila in an all-cash transaction valued at approximately €1.1 billion. Under this agreement, Tikkurila shareholders will receive €25.00 per share. The acquisition aims to enhance PPG's decorative brand presence in Northern and Eastern Europe by combining Tikkurila's strong product offerings with PPG's industrial coatings. The deal is expected to close in Q2 2021, subject to customary conditions. This strategic move aims to create new growth opportunities and cross-selling potential in the paint and coatings market.