
PPG (NYSE: PPG), a global leader in paints, coatings, and specialty materials, has announced a definitive agreement to sell its silicas products business to QEMETICA S.A., a Warsaw-based manufacturer of soda ash, silicates, and specialty chemicals. The transaction, valued at approximately $310 million in pre-tax proceeds, is expected to close in the fourth quarter of 2024, pending customary closing conditions. This deal follows PPG’s strategic review of the business, first announced on January 9, 2024. Morgan Stanley & Co. LLC served as PPG’s financial advisor, while Hogan Lovells acted as its legal advisor.
PPG’s silicas products business, which produces precipitated silica additives for major global companies, represented 1-2% of PPG’s total net sales in 2023. The sale includes PPG’s manufacturing facilities in Lake Charles, Louisiana, and Delfzijl, The Netherlands, as well as leased silicas manufacturing and R&D operations at PPG’s Barberton, Ohio, and Monroeville, Pennsylvania sites. The business employs approximately 400 people.
Tim Knavish, Chairman and CEO of PPG, commented, “We are pleased to finalize this agreement with QEMETICA, which we believe is well-positioned to advance the silicas products business. This sale allows us to concentrate on our core technology-differentiated coatings and specialty products, driving organic growth and shareholder value. I extend my gratitude to our silicas products team for their dedication and contributions.”
QEMETICA, a leading chemical manufacturer in Central Europe, plans to leverage this acquisition to expand its global footprint and diversify its portfolio, focusing on growth beyond Europe.
About PPG
PPG (NYSE: PPG) develops and delivers trusted paints, coatings, and specialty materials globally. With a presence in over 70 countries and net sales of $18.2 billion in 2023, PPG serves various markets including construction, consumer products, and transportation. For more information, visit www.ppg.com.
Forward-Looking Statements
This release contains forward-looking statements regarding the timing and benefits of the sale of PPG’s silicas products business. Actual results may differ due to various risks and uncertainties. PPG does not undertake any obligation to update or revise these statements. For more details, refer to PPG’s SEC filings.