PPG Completes Acquisition of Global Coatings Manufacturer Wörwag

Rhea-AI Summary

PPG has successfully completed the acquisition of Wörwag, a global manufacturer specializing in coatings for industrial and automotive applications. This strategic acquisition is intended to enhance PPG's growth and provide additional value for its customers and shareholders. Wörwag operates across several countries, including Germany, the U.S., and China, and employs around 1,100 people. PPG aims to leverage Wörwag’s sustainable solutions and customer-centric approach to strengthen its automotive coatings portfolio.

Positive

• Enhances PPG's strategic growth plan.
• Complementary customer and product footprint with Wörwag.
• Strengthens sustainable solutions portfolio.

Negative

• None.

PPG (NYSE: PPG) today announced that it has completed its acquisition of Wörwag, a global manufacturer of coatings for industrial and automotive applications.

The company specializes in developing sustainable liquid, powder and film coatings and operates locations in Germany, the U.S., China, South Africa, Mexico, Spain, Switzerland and Poland, with headquarters in Stuttgart, Germany. Founded in 1918, Wörwag employs about 1,100 people globally.

“The acquisition of Wörwag is another step forward in PPG’s strategic growth plan that will provide further value to our customers and shareholders,” said Rebecca Liebert, PPG executive vice president. “Both companies have a strong history of providing high-quality and sustainable solutions. Wörwag’s customer and product footprint, sustainability focus and customer-centric approach are highly complementary to PPG’s business. We look forward to serving both PPG and Wörwag customers in new ways, and continuing to develop an industry-leading automotive coatings portfolio.”

PPG: WE PROTECT AND BEAUTIFY THE WORLD™
At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for more than 135 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 $13.8 billion in 2020. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

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

CATEGORY Automotive OEM Coatings

View source version on businesswire.com: https://www.businesswire.com/news/home/20210517005451/en/

FAQ

What is the purpose of PPG's acquisition of Wörwag?

The acquisition aims to enhance PPG's growth and provide additional value to customers and shareholders by leveraging Wörwag's sustainable solutions.

When was the acquisition of Wörwag by PPG completed?

PPG completed the acquisition of Wörwag recently; the exact date of completion is not specified in the press release.

How will the acquisition of Wörwag impact PPG's business?

The acquisition is expected to expand PPG's automotive coatings portfolio and enhance its customer offerings through improved sustainable solutions.

What are the key strengths of Wörwag that benefit PPG?

Wörwag brings a strong focus on sustainability, a wide customer base, and a complementary product range that aligns with PPG's business goals.

How many employees does Wörwag have?

Wörwag employs approximately 1,100 people globally.