PPG reaches agreement to sell silicas products business to QEMETICA
PPG (NYSE: PPG) has announced an agreement to sell its silicas products business to QEMETICA S.A. for approximately $310 million in pre-tax proceeds. The transaction is expected to close in Q4 2024, subject to customary conditions. The sale includes manufacturing facilities in Lake Charles, Louisiana, and Delfzijl, The Netherlands, with leasing arrangements for operations in Barberton, Ohio, and Monroeville, Pennsylvania. The business, representing 1-2% of PPG's total net sales in 2023, employs about 400 people.
PPG CEO Tim Knavish stated that this move will allow the company to focus on its core coatings and specialty products businesses. QEMETICA, a leading chemical manufacturer in Central Europe, aims to expand its global presence through this acquisition.
PPG (NYSE: PPG) ha annunciato un accordo per vendere la sua divisione prodotti in silice a QEMETICA S.A. per circa 310 milioni di dollari in ricavi pre-tasse. Si prevede che la transazione si concluda nel quarto trimestre del 2024, soggetta a condizioni consuete. La vendita comprende impianti di produzione a Lake Charles, Louisiana, e Delfzijl, Paesi Bassi, con accordi di locazione per operazioni a Barberton, Ohio, e Monroeville, Pennsylvania. Questa divisione rappresenta l'1-2% delle vendite nette totali di PPG nel 2023 e impiega circa 400 persone.
Il CEO di PPG, Tim Knavish, ha dichiarato che questa decisione permetterà all'azienda di concentrarsi sulle sue attività principali nei settori delle vernici e dei prodotti specializzati. QEMETICA, un importante produttore chimico in Europa centrale, mira ad espandere la sua presenza globale attraverso questa acquisizione.
PPG (NYSE: PPG) ha anunciado un acuerdo para vender su negocio de productos de sílice a QEMETICA S.A. por aproximadamente 310 millones de dólares en ingresos antes de impuestos. Se espera que la transacción se cierre en el cuarto trimestre de 2024, sujeto a condiciones habituales. La venta incluye instalaciones de fabricación en Lake Charles, Louisiana, y Delfzijl, Países Bajos, con acuerdos de arrendamiento para operaciones en Barberton, Ohio, y Monroeville, Pennsylvania. Este negocio representa entre el 1 y el 2% de las ventas netas totales de PPG en 2023 y emplea a unas 400 personas.
El CEO de PPG, Tim Knavish, declaró que este movimiento permitirá a la empresa centrarse en sus negocios principales de recubrimientos y productos especializados. QEMETICA, un importante fabricante químico en Europa central, pretende expandir su presencia global mediante esta adquisición.
PPG (NYSE: PPG)는 자사의 실리카 제품 사업을 QEMETICA S.A.에 세전 약 3억 1천만 달러에 판매하기로 협약을 체결했다고 발표했습니다. 거래는 2024년 4분기에 종료될 것으로 예상되며, 일반적인 조건이 필요합니다. 판매에는 루이지애나주 레이크 차를스와 네덜란드 델프치일의 제조 시설이 포함되어 있으며, 오하이오주 바버턴과 펜실베이니아주 먼로빌의 운영을 위한 임대 약정이 포함되어 있습니다. 이 사업은 2023년 PPG 총 순매출의 1-2%를 차지하며, 약 400명의 직원이 근무하고 있습니다.
PPG의 CEO인 Tim Knavish는 이 조치가 회사가 핵심 도료 및 특수 제품 사업에 집중할 수 있도록 할 것이라고 밝혔습니다. 중앙 유럽의 주요 화학 제조업체인 QEMETICA는 이번 인수를 통해 글로벌 존재감을 확장할 계획입니다.
PPG (NYSE: PPG) a annoncé un accord pour vendre son activité de produits en silice à QEMETICA S.A. pour environ 310 millions de dollars de revenus avant impôts. La transaction devrait se clôturer au quatrième trimestre de 2024, sous réserve des conditions habituelles. La vente comprend des installations de fabrication à Lake Charles, Louisiane, et Delfzijl, Pays-Bas, avec des arrangements de location pour des opérations à Barberton, Ohio, et Monroeville, Pennsylvanie. Cette activité représente 1 à 2 % des ventes nettes totales de PPG en 2023 et emploie environ 400 personnes.
Le PDG de PPG, Tim Knavish, a déclaré que cette décision permettra à l'entreprise de se concentrer sur ses activités principales de revêtements et de produits spécialisés. QEMETICA, un fabricant chimique de premier plan en Europe centrale, vise à élargir sa présence mondiale grâce à cette acquisition.
PPG (NYSE: PPG) hat eine Vereinbarung angekündigt, um sein Siliziumprodukte-Geschäft für etwa 310 Millionen Dollar vor Steuern an QEMETICA S.A. zu verkaufen. Die Transaktion soll im vierten Quartal 2024 abgeschlossen werden, vorbehaltlich der üblichen Bedingungen. Zum Verkauf gehören Produktionsstätten in Lake Charles, Louisiana, und Delfzijl, Niederlande, mit Mietverträgen für Betriebe in Barberton, Ohio, und Monroeville, Pennsylvania. Das Geschäft repräsentiert 1-2% des gesamten Nettoumsatzes von PPG im Jahr 2023 und beschäftigt etwa 400 Mitarbeiter.
Der CEO von PPG, Tim Knavish, erklärte, dass dieser Schritt dem Unternehmen ermöglichen wird, sich auf seine Kerngeschäfte in Beschichtungen und Spezialprodukten zu konzentrieren. QEMETICA, ein führender Chemiehersteller in Mitteleuropa, strebt an, seine globale Präsenz durch diese Übernahme auszubauen.
- Sale of silicas products business for $310 million pre-tax proceeds
- Divestiture allows focus on core coatings and specialty products businesses
- Transaction expected to drive increased shareholder value creation
- Loss of 1-2% of total net sales from divested business
Insights
PPG's divestment of its silicas products business for
This divestiture aligns with the broader trend of chemical companies focusing on high-margin, specialty businesses. QEMETICA's acquisition expands its portfolio beyond Central Europe, potentially reshaping the global silicas market. For PPG, this move sharpens its competitive edge in the coatings sector, where it reported
The transaction's structure reveals careful legal considerations. The inclusion of facility transfers and leasing arrangements at existing PPG sites indicates a complex deal that balances operational continuity with legal separation. Key points for investors include:
- The deal is subject to customary closing conditions, which may include regulatory approvals.
- The leasing of operations at Barberton and Monroeville suggests ongoing relationships between PPG and QEMETICA, potentially requiring well-crafted agreements to manage intellectual property and operational boundaries.
- The transfer of approximately 400 employees will likely involve intricate labor law considerations across multiple jurisdictions.
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
PPG Chairman and Chief Executive Officer, Tim Knavish, said, “After conducting an extensive strategic review process, we are pleased to reach an agreement with QEMETICA and believe it is well positioned to lead the silicas products business forward. This transaction will allow us to further focus our resources on our technology-differentiated coatings and specialty products businesses to accelerate our organic growth and drive increased shareholder value creation. I want to thank the silicas products business employees for their dedication and commitment throughout the years to deliver the quality products and services that meet our customers’ evolving needs.”
QEMETICA ranks as a leading chemical manufacturer in
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Forward-Looking Statements
Statements in this news release relating to matters that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 reflecting the company’s current view with respect to future events or objectives and financial or operational performance or results. The forward-looking statements contained herein include statements relating to the timing of and expected benefits to PPG from of the sale of PPG’s silicas products business. Actual events may differ materially from current expectations and are subject to a number of risks and uncertainties, including the satisfaction of the conditions of the transaction and other risks related to completion of the transaction and actions related thereto; the parties’ ability to complete the transaction on the anticipated terms and schedule, including the ability to obtain regulatory approvals, the amount of the net cash proceeds to PPG after customary closing adjustments, and the other risks and uncertainties discussed in PPG’s periodic reports on Form 10-K and Form 10-Q and its current reports on Form 8-K filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of their initial issuance, and PPG does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
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Source: PPG
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