{"id":412067,"date":"2021-01-11T08:49:42","date_gmt":"2021-01-11T13:49:42","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=412067"},"modified":"2021-01-11T08:49:42","modified_gmt":"2021-01-11T13:49:42","slug":"ppg-to-acquire-global-coatings-manufacturer-worwag","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ppg-to-acquire-global-coatings-manufacturer-worwag\/","title":{"rendered":"PPG to Acquire Global Coatings Manufacturer W\u00f6rwag"},"content":{"rendered":"

<\/p>\n

PPG to Acquire Global Coatings Manufacturer W\u00f6rwag<\/b><\/p>\n

PITTSBURGH–(BUSINESS WIRE<\/a>)–
\nPPG (NYSE:PPG) today announced that it has reached a definitive agreement to acquire W\u00f6rwag, a global manufacturer of coatings for industrial and automotive applications. The transaction is expected to close in the first half of 2021, subject to customary closing conditions.\n<\/p>\n

\n\u201cW\u00f6rwag\u2019s industry expertise in powder and liquid coatings for industrial and automotive applications is highly complementary to PPG\u2019s business, and will help to further expand our product offering,\u201d said Rebecca Liebert, PPG executive vice president. \u201cThe addition of W\u00f6rwag will also enhance PPG\u2019s waterborne, direct-to-metal, liquid and powder coatings offerings, and allow us to further expand current customer distribution in key geographies.\u201d\n<\/p>\n

\nW\u00f6rwag is a family-owned company headquartered in Stuttgart, Germany, founded in 1918. The company employs about 1,100 people globally and its full year 2020 revenue is expected to be approximately 220 million euros. The company specializes in developing sustainable liquid, powder and film coatings. W\u00f6rwag operates locations in Germany, the U.S., China, South Africa, Mexico, Spain, Switzerland and Poland.\n<\/p>\n

PPG: WE PROTECT AND BEAUTIFY THE WORLD\u2122<\/b><\/p>\n

\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 www.ppg.com<\/a>.\n<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nThe forward-looking statements contained herein include statements relating to the timing of and expected benefits of the W\u00f6rwag acquisition and W\u00f6rwag\u2019s expected 2020 full year revenue. 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 W\u00f6rwag\u2019s failure to achieve its expected 2020 full year revenue; 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

We protect and beautify the world<\/i> is a trademark and the PPG Logo <\/i>is a registered trademark of PPG Industries Ohio, Inc.\n<\/p>\n

\nCATEGORY Financial
\n
CATEGORY Automotive OEM Coatings\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210111005252\/en\/<\/a><\/span><\/p>\n

Media Contact:
\n<\/b>
Mark Silvey
\n
Corporate Communications
\n
+1-412-434-3046
\n
silvey@ppg.com<\/a><\/p>\n

Investor Contact:
\n<\/b>
John Bruno
\n
Investor Relations
\n
+1-412-434-3466
\n
jbruno@ppg.com
\n<\/a>
investor.ppg.com<\/a><\/p>\n

KEYWORDS:<\/b> Germany Europe United States North America Pennsylvania<\/p>\n

INDUSTRY KEYWORDS:<\/b> Other Construction & Property General Automotive Automotive Commercial Building & Real Estate Construction & Property Other Manufacturing Other Transport Chemicals\/Plastics Automotive Manufacturing Transport Manufacturing Interior Design<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

PPG to Acquire Global Coatings Manufacturer W\u00f6rwag PITTSBURGH–(BUSINESS WIRE)– PPG (NYSE:PPG) today announced that it has reached a definitive agreement to acquire W\u00f6rwag, a global manufacturer of coatings for industrial and automotive applications. The transaction is expected to close in the first half of 2021, subject to customary closing conditions. \u201cW\u00f6rwag\u2019s industry expertise in powder and liquid coatings for industrial and automotive applications is highly complementary to PPG\u2019s business, and will help to further expand our product offering,\u201d said Rebecca Liebert, PPG executive vice president. \u201cThe addition of W\u00f6rwag will also enhance PPG\u2019s waterborne, direct-to-metal, liquid and powder coatings offerings, and allow us to further expand current customer distribution in key geographies.\u201d W\u00f6rwag is a family-owned company headquartered in Stuttgart, … <\/p>\n

Continue reading “PPG to Acquire Global Coatings Manufacturer W\u00f6rwag”<\/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-412067","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPPG to Acquire Global Coatings Manufacturer W\u00f6rwag - 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-worwag\/\" \/>\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 W\u00f6rwag - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PPG to Acquire Global Coatings Manufacturer W\u00f6rwag PITTSBURGH–(BUSINESS WIRE)– PPG (NYSE:PPG) today announced that it has reached a definitive agreement to acquire W\u00f6rwag, a global manufacturer of coatings for industrial and automotive applications. The transaction is expected to close in the first half of 2021, subject to customary closing conditions. \u201cW\u00f6rwag\u2019s industry expertise in powder and liquid coatings for industrial and automotive applications is highly complementary to PPG\u2019s business, and will help to further expand our product offering,\u201d said Rebecca Liebert, PPG executive vice president. \u201cThe addition of W\u00f6rwag will also enhance PPG\u2019s waterborne, direct-to-metal, liquid and powder coatings offerings, and allow us to further expand current customer distribution in key geographies.\u201d W\u00f6rwag is a family-owned company headquartered in Stuttgart, … Continue reading "PPG to Acquire Global Coatings Manufacturer W\u00f6rwag"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/ppg-to-acquire-global-coatings-manufacturer-worwag\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-11T13:49:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210111005252r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ppg-to-acquire-global-coatings-manufacturer-worwag\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ppg-to-acquire-global-coatings-manufacturer-worwag\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"PPG to Acquire Global Coatings Manufacturer W\u00f6rwag\",\"datePublished\":\"2021-01-11T13:49:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ppg-to-acquire-global-coatings-manufacturer-worwag\\\/\"},\"wordCount\":530,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ppg-to-acquire-global-coatings-manufacturer-worwag\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210111005252r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ppg-to-acquire-global-coatings-manufacturer-worwag\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ppg-to-acquire-global-coatings-manufacturer-worwag\\\/\",\"name\":\"PPG to Acquire Global Coatings Manufacturer W\u00f6rwag - 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