{"id":389533,"date":"2020-11-30T08:33:35","date_gmt":"2020-11-30T13:33:35","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=389533"},"modified":"2020-11-30T08:33:35","modified_gmt":"2020-11-30T13:33:35","slug":"ppg-to-acquire-global-coatings-manufacturer-ennis-flint","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ppg-to-acquire-global-coatings-manufacturer-ennis-flint\/","title":{"rendered":"PPG to Acquire Global Coatings Manufacturer Ennis-Flint"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>PPG to Acquire Global Coatings Manufacturer Ennis-Flint<\/b><\/p>\n<p>PITTSBURGH&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nPPG (NYSE:PPG) today announced that it has reached a definitive agreement to acquire Ennis-Flint, a global manufacturer of coatings with a broad portfolio of pavement marking products, including paint, thermoplastics and other advanced traffic technologies. The transaction, valued at approximately $1.15 billion, is expected to close within the next few months, subject to customary closing conditions.\n<\/p>\n<p>\n\u201cThe acquisition of Ennis-Flint will further expand our product offering and opportunities in rapidly developing and high-growth mobility technology solutions,\u201d said Michael McGarry, PPG chairman and chief executive officer. \u201cThe company is well known for its high-quality products, technical expertise and innovative systems. The addition of Ennis-Flint\u2019s products further enhances our existing mobility technologies in support of increased automotive occupant safety through driver-assisted and autonomous driving systems. We look forward to the Ennis-Flint team joining PPG and working together to further expand the company\u2019s product distribution on a global scale.\u201d\n<\/p>\n<p>\nPPG formed a mobility focus team in 2017 to develop mobility technologies and innovative technical solutions that provide increased functionality and solve new and unique requirements for electric, hybrid and autonomous vehicles. Mobility-related products developed by PPG include battery-specific coatings that deliver enhanced safety and performance, autonomous vehicle coatings that improve vehicle and infrastructure visibility, and interior coatings that increase surface functionality and durability.\n<\/p>\n<p>\nEnnis-Flint, a privately held company headquartered in Greensboro, North Carolina, is a global leader in pavement markings and traffic safety solutions with the industry\u2019s most comprehensive and innovative product offering. Products are developed according to strict government guidelines and customer specifications, many of which are proprietary to the company. A high percentage of its product sales are derived from non-discretionary, essential maintenance spending. Ennis-Flint supplies a wide range of products, including traffic paint, hot-applied and preformed thermoplastics, raised pavement markers and intelligent transportation systems from a network of manufacturing facilities within the United States, Europe, South America, and Asia. The company employs approximately 1,000 people globally and its full year of 2020 revenue is expected to be approximately $600 million, with mid-teen percentage EBITDA margins.\n<\/p>\n<p>\n\u201cWe are excited to join the global PPG family,\u201d added Matt Soule, president and CEO of Ennis-Flint. \u201cOur products and technologies are excellent complements to PPG\u2019s current product offering, and the ability to leverage PPG\u2019s world-class innovation and broad geographical footprint will provide more growth opportunities for our products and employees in the future.\u201d\n<\/p>\n<p>\nPPG will provide additional details relating to the business acquisition, including acquisition-related financial impacts, during the company\u2019s fourth quarter earnings conference call in January 2021.\n<\/p>\n<p><b>PPG: WE PROTECT AND BEAUTIFY THE WORLD\u2122<\/b><\/p>\n<p>\nAt 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\u2019 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 $15.1 billion in 2019. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ppg.com&amp;esheet=52338866&amp;newsitemid=20201130005566&amp;lan=en-US&amp;anchor=www.ppg.com&amp;index=1&amp;md5=c4314fb10af9a905a37dca081796597d\">www.ppg.com<\/a>.\n<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThe forward-looking statements contained herein include statements relating to the timing of and expected benefits of the Ennis-Flint acquisition. 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 acquisition and other risks related to completion of the acquisition and actions related thereto; the parties\u2019 ability to complete the acquisition on the anticipated terms and schedule, including the ability to obtain regulatory approvals; the ability of PPG to achieve the expected benefits of the acquisition; and the other risks and uncertainties discussed in PPG\u2019s 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.\n<\/p>\n<p><i>We protect and beautify the world<\/i> is a trademark and the <i>PPG Logo <\/i>is a registered trademark of PPG Industries Ohio, Inc.\n<\/p>\n<p>\nCATEGORY Corporate\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201130005566r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201130005566\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201130005566\/en\/<\/a><\/span><\/p>\n<p><b>Media Contact:<br \/>\n<\/b><br \/>Mark Silvey<br \/>\n<br \/>Corporate Communications<br \/>\n<br \/>+1-412-434-3046<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:silvey@ppg.com\">silvey@ppg.com<\/a><\/p>\n<p><b>Investor Contact:<br \/>\n<\/b><br \/>John Bruno<br \/>\n<br \/>Investor Relations<br \/>\n<br \/>+1-412-434-3466<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:jbruno@ppg.com\">jbruno@ppg.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.investor.ppg.com%2F&amp;esheet=52338866&amp;newsitemid=20201130005566&amp;lan=en-US&amp;anchor=investor.ppg.com&amp;index=2&amp;md5=ffa117a1365ca2fa4a063d946271d01f\">investor.ppg.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> North Carolina Pennsylvania United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Transportation Automotive Manufacturing Automotive Technology Manufacturing Travel Other Transport Transport Other Technology General Automotive Chemicals\/Plastics<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201130005566\/en\/514781\/3\/PPG_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>PPG to Acquire Global Coatings Manufacturer Ennis-Flint PITTSBURGH&#8211;(BUSINESS WIRE)&#8211; PPG (NYSE:PPG) today announced that it has reached a definitive agreement to acquire Ennis-Flint, a global manufacturer of coatings with a broad portfolio of pavement marking products, including paint, thermoplastics and other advanced traffic technologies. The transaction, valued at approximately $1.15 billion, is expected to close within the next few months, subject to customary closing conditions. \u201cThe acquisition of Ennis-Flint will further expand our product offering and opportunities in rapidly developing and high-growth mobility technology solutions,\u201d said Michael McGarry, PPG chairman and chief executive officer. \u201cThe company is well known for its high-quality products, technical expertise and innovative systems. The addition of Ennis-Flint\u2019s products further enhances our existing mobility technologies in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ppg-to-acquire-global-coatings-manufacturer-ennis-flint\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;PPG to Acquire Global Coatings Manufacturer Ennis-Flint&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-389533","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PPG to Acquire Global Coatings Manufacturer Ennis-Flint - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ppg-to-acquire-global-coatings-manufacturer-ennis-flint\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PPG to Acquire Global Coatings Manufacturer Ennis-Flint - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PPG to Acquire Global Coatings Manufacturer Ennis-Flint PITTSBURGH&#8211;(BUSINESS WIRE)&#8211; PPG (NYSE:PPG) today announced that it has reached a definitive agreement to acquire Ennis-Flint, a global manufacturer of coatings with a broad portfolio of pavement marking products, including paint, thermoplastics and other advanced traffic technologies. The transaction, valued at approximately $1.15 billion, is expected to close within the next few months, subject to customary closing conditions. \u201cThe acquisition of Ennis-Flint will further expand our product offering and opportunities in rapidly developing and high-growth mobility technology solutions,\u201d said Michael McGarry, PPG chairman and chief executive officer. \u201cThe company is well known for its high-quality products, technical expertise and innovative systems. 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