PPG completes sale of silicas products business to QEMETICA
PPG (NYSE: PPG) has completed the sale of its silicas products business to QEMETICA for approximately $310 million in pre-tax proceeds. The transaction includes manufacturing facilities in Lake Charles, Louisiana, and Delfzijl, The Netherlands, plus leased operations in Barberton, Ohio and Monroeville, Pennsylvania. The sold business, which represented 1-2% of PPG's total net sales in 2023, manufactures precipitated silica products and employs about 400 people. QEMETICA, a Warsaw-based chemical manufacturer, aims to expand its global presence through this strategic acquisition.
PPG (NYSE: PPG) ha completato la vendita della sua attività di prodotti in silice a QEMETICA per circa 310 milioni di dollari in proventi prima delle tasse. La transazione include impianti di produzione a Lake Charles, Louisiana, e Delfzijl, Paesi Bassi, oltre a operazioni in leasing a Barberton, Ohio, e Monroeville, Pennsylvania. L'attività venduta, che rappresentava l'1-2% delle vendite nette totali di PPG nel 2023, produce prodotti in silice precipitata e impiega circa 400 persone. QEMETICA, un produttore chimico con sede a Varsavia, mira ad espandere la propria presenza globale attraverso questa acquisizione strategica.
PPG (NYSE: PPG) ha completado la venta de su negocio de productos de sílice a QEMETICA por aproximadamente 310 millones de dólares en ingresos antes de impuestos. La transacción incluye instalaciones de fabricación en Lake Charles, Luisiana, y Delfzijl, Países Bajos, además de operaciones alquiladas en Barberton, Ohio, y Monroeville, Pensilvania. El negocio vendido, que representó entre el 1% y el 2% de las ventas netas totales de PPG en 2023, fabrica productos de sílice precipitada y emplea a unas 400 personas. QEMETICA, un fabricante químico con sede en Varsovia, busca expandir su presencia global mediante esta adquisición estratégica.
PPG (NYSE: PPG)는 약 3억 1천만 달러의 세전 수익으로 QEMETICA에 자신의 실리카 제품 사업을 매각했다고 발표했습니다. 이번 거래에는 루이지애나주 레이크 찰스와 네덜란드 델프질에 있는 제조 시설이 포함되며, 오하이오주 바버턴과 펜실베이니아주 먼로빌에 있는 임대 운영도 포함됩니다. 매각된 사업은 2023년 PPG의 총 순매출의 1-2%를 차지하며, 침전 실리카 제품을 제조하고 약 400명의 직원이 근무하고 있습니다. 바르샤바에 본사를 두고 있는 화학 제조업체 QEMETICA는 이번 전략적 인수로 글로벌 입지를 확장하고자 합니다.
PPG (NYSE: PPG) a finalisé la vente de son activité de produits de silice à QEMETICA pour environ 310 millions de dollars de revenus avant impôts. La transaction comprend des installations de fabrication à Lake Charles, Louisiane, et à Delfzijl, aux Pays-Bas, ainsi que des opérations louées à Barberton, Ohio, et à Monroeville, Pennsylvanie. L'activité vendue, qui représentait 1 à 2 % des ventes nettes totales de PPG en 2023, fabrique des produits en silice précipitée et emploie environ 400 personnes. QEMETICA, un fabricant chimique basé à Varsovie, vise à élargir sa présence mondiale grâce à cette acquisition stratégique.
PPG (NYSE: PPG) hat den Verkauf seines Silikaproduktgeschäfts an QEMETICA für etwa 310 Millionen Dollar vor Steuern abgeschlossen. Die Transaktion umfasst Produktionsanlagen in Lake Charles, Louisiana, und Delfzijl, Niederlande, sowie angemietete Betriebe in Barberton, Ohio, und Monroeville, Pennsylvania. Das verkaufte Geschäft, das 1-2% des gesamten Nettoumsatzes von PPG im Jahr 2023 ausmachte, stellt gefällte Silikaprodukte her und beschäftigt etwa 400 Mitarbeiter. QEMETICA, ein in Warschau ansässiger Chemiehersteller, strebt durch diese strategische Akquisition an, seine globale Präsenz auszubauen.
- Received $310 million in pre-tax proceeds from the sale
- Strategic divestment of non-core business representing only 1-2% of total net sales
- None.
Insights
The sale of PPG's silicas products business for
This divestment aligns with industry trends of chemical companies streamlining their portfolios to focus on core competencies. The pre-tax proceeds provide PPG with additional financial flexibility, though the minimal revenue contribution suggests impact on the company's overall financial performance. The timing, following the January strategic review announcement, indicates efficient execution of corporate strategy.
QEMETICA's acquisition represents a strategic expansion beyond their European base, diversifying their chemical portfolio and gaining established U.S. manufacturing capabilities. For PPG, this transaction streamlines operations while maintaining access to silica products through the leasing arrangements in Ohio and Pennsylvania. The deal's structure suggests a well-thought-out transition that minimizes operational disruption.
The chemical industry continues to see consolidation as companies seek operational efficiency and geographic expansion. This transaction benefits both parties - QEMETICA gains global market access and advanced R&D capabilities, while PPG optimizes its business portfolio without compromising its core operations in paints and coatings, where it reported
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
“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
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.
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Source: PPG
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