PPG and Shaw Industries sign strategic agreement for resinous flooring products

Rhea-AI Summary

PPG (NYSE: PPG) has signed a strategic agreement with Shaw Industries Group to offer the PPG FLOORING™ line of resinous flooring products through Shaw's Patcraft® brand to customers in the commercial property market. This partnership expands PPG's market reach and enhances Shaw's portfolio of flooring solutions.

Resinous flooring is valued for its durability, versatility, and aesthetic appeal, particularly in institutional, industrial, and workplace environments. The PPG Flooring portfolio offers chemical and abrasion resistance for concrete floors, ensuring long-lasting results.

Kelley Fain, executive vice-president of Shaw's commercial business, emphasized the company's commitment to delivering exceptional experiences through diverse flooring solutions. Jenn Solcz, PPG vice president, Protective and Marine Coatings U.S. and Canada, highlighted the partnership as a significant milestone for both companies.

Positive

• Strategic agreement expands PPG's market reach for resinous flooring products
• Partnership enhances Shaw Industries' product portfolio in the commercial property market
• PPG Flooring line offers chemical and abrasion resistance for concrete floors

Negative

• None.

Insights

Market Research Analyst

This strategic agreement between PPG and Shaw Industries is a positive development for PPG, albeit with a moderate impact on its overall business. The partnership expands PPG's market reach for its resinous flooring products through Shaw's Patcraft brand, targeting the commercial property market.

Key points to consider:

• Increased distribution channel: Access to Shaw's extensive customer base in the commercial sector.
• Product diversification: Strengthens PPG's position in the growing resinous flooring market.
• Potential revenue growth: While specific financial projections aren't provided, this could contribute to PPG's top-line growth in its coatings segment.
• Competitive advantage: Enhances PPG's ability to compete in the specialized flooring solutions market.

For investors, this move aligns with PPG's strategy to expand its product offerings and market presence. However, the impact on PPG's $29.6 billion market cap is likely to be incremental rather than transformative in the short term. Long-term success will depend on the execution of this partnership and the growth of the resinous flooring market segment.

PITTSBURGH & DALTON, Ga.--(BUSINESS WIRE)-- PPG (NYSE: PPG) today announced that it has signed a strategic agreement with flooring leader Shaw Industries Group, Inc. to offer the PPG FLOORING™ line of resinous flooring products. The products will be available to Shaw’s customers in the commercial property market via its Patcraft^® brand. The partnership helps expand the market reach for PPG’s products and adds to Shaw’s expansive portfolio of flooring and surface solutions.

PPG has signed a strategic agreement with Shaw Industries to offer the PPG FLOORING™ line of resinous flooring products. (Image credit: StockRocket / iStock / Getty Images Plus)

Resinous flooring is known for its durability, versatility and aesthetic appeal, particularly for institutional, industrial and workplace environments. The extensive PPG Flooring portfolio provides chemical and abrasion resistance for concrete floors, ensuring long-lasting results.

“As a customer-centric organization, Shaw is dedicated to delivering exceptional experiences by offering a wide array of flooring solutions that meet the diverse needs of our clients,” said Kelley Fain, executive vice-president of Shaw’s commercial business. “With resinous flooring growing in popularity, PPG is an ideal partner for our Patcraft brand due to its deep expertise in resinous coatings and commitment to innovation. Patcraft focuses on offering customers solutions to fill the needs of high-performance environments. Together, we aim to transform spaces and customer experiences.”

“At PPG, we continually strive to solve customer challenges by collaborating with partners to find the best path forward,” said Jenn Solcz, PPG vice president, Protective and Marine Coatings U.S. and Canada. “Shaw’s position as a leading flooring provider with expansive customer reach gives PPG even greater access to the market. This partnership represents a significant milestone for both companies.”

About Patcraft

Driven by imagination, intention and purpose, Patcraft creates high-performance flooring for every market sector. As a leading soft and hard surface commercial brand, we hold ourselves to the highest standards, delivering award-winning, high-quality products that transform spaces and human experiences. Inspire, create, and transform every day with Patcraft.

About Shaw Industries

Shaw Industries Group, Inc. is a leader in flooring and other surface solutions designed for residential housing, commercial spaces and outdoor environments. Leveraging strengths in design, innovation and operational excellence, the company takes a people-centered, customer-focused, and growth-minded approach to meet diverse market needs. It creates differentiated customer experiences through its expansive portfolio of brands: Anderson, Tuftex, COREtec, Shaw Floors, Patcraft, Philadelphia Commercial, Shaw Contract, Shaw Sports Turf, Shawgrass, Southwest Greens, Watershed Geo and more.

Headquartered in Dalton, Georgia, Shaw is a wholly owned subsidiary of Berkshire Hathaway, Inc. with more than $6 billion in annual sales and 18,000 associates worldwide.

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 more than 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.

PPG Flooring is a trademark and the PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.

Patcraft is a registered trademark owned by and exclusively licensed to Shaw Industries Group, Inc.

CATEGORY Protective and Marine Coatings

View source version on businesswire.com: https://www.businesswire.com/news/home/20241008317235/en/

PPG Media Contact:

Zachary Madden

Protective and Marine Coatings

+1 412 328 1104

zmadden@ppg.com

www.ppgpmc.com

Source: PPG

FAQ

What is the strategic agreement between PPG and Shaw Industries?

PPG and Shaw Industries have signed a strategic agreement for PPG to offer its PPG FLOORING™ line of resinous flooring products through Shaw's Patcraft® brand to customers in the commercial property market.

What are the benefits of PPG's resinous flooring products?

PPG's resinous flooring products are known for their durability, versatility, and aesthetic appeal. They provide chemical and abrasion resistance for concrete floors, ensuring long-lasting results, particularly in institutional, industrial, and workplace environments.

How does this agreement benefit PPG (NYSE: PPG)?

The agreement expands PPG's market reach by leveraging Shaw Industries' position as a leading flooring provider with an expansive customer base, giving PPG greater access to the commercial property market for its resinous flooring products.

What does this partnership mean for Shaw Industries' Patcraft brand?

The partnership adds PPG's resinous flooring products to Patcraft's portfolio, enhancing its ability to offer a wide array of flooring solutions that meet the diverse needs of its clients, particularly in high-performance environments.