{"id":790468,"date":"2024-11-25T10:02:03","date_gmt":"2024-11-25T15:02:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ppg-completes-sale-of-silicas-products-business-to-qemetica\/"},"modified":"2024-11-25T10:02:03","modified_gmt":"2024-11-25T15:02:03","slug":"ppg-completes-sale-of-silicas-products-business-to-qemetica","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ppg-completes-sale-of-silicas-products-business-to-qemetica\/","title":{"rendered":"PPG completes sale of silicas products business to QEMETICA"},"content":{"rendered":"

<\/p>\n

PPG completes sale of silicas products business to QEMETICA<\/b><\/p>\n

PITTSBURGH–(BUSINESS WIRE<\/a>)–
\nPPG (NYSE: PPG) today announced that it has completed the sale of its silicas products business for approximately $310 million in pre-tax proceeds to QEMETICA a Warsaw, Poland-based, privately held manufacturer of soda ash, silicates and other specialty chemicals.<\/p>\n

\nPPG\u2019s 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 1-2% of PPG\u2019s total net sales. The transaction includes PPG\u2019s precipitated silicas manufacturing facilities in Lake Charles, Louisiana, and Delfzijl, The Netherlands. In addition, QEMETICA will lease silicas manufacturing and research and development operations at PPG sites in Barberton, Ohio and Monroeville, Pennsylvania, respectively. The silicas products business is led by about 400 employees.<\/p>\n

\n\u201cWe 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,\u201d said Tim Knavish, PPG chairman and chief executive officer.<\/p>\n

\nQEMETICA ranks as a leading chemical manufacturer in Europe, boasting top-tier European production capacity in soda ash, evaporated salt, and silicates. The company\u2019s growth strategy focuses on building a global presence through strategic acquisitions and expansion of operations beyond Europe, aiming to diversify its portfolio and tap into new markets. QEMETICA combines a modern approach to business with a commitment to sustainable development.<\/p>\n

\nThe transaction is the result of PPG\u2019s evaluation of strategic alternatives for the business, which was first announced on January 9, 2024. Morgan Stanley & Co. LLC acted as PPG\u2019s financial advisor and Hogan Lovells served as its legal advisor.<\/p>\n

PPG: WE PROTECT AND BEAUTIFY THE WORLD\u00ae<\/b><\/p>\n

\nAt PPG (NYSE: PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for 140 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 $18.2 billion in 2023. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com<\/a>.<\/p>\n

The PPG Logo <\/i>and We protect and beautify the world <\/i>are registered trademarks of PPG Industries Ohio, Inc.<\/p>\n

\nCATEGORY Corporate<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20241124337289\/en\/<\/a><\/span><\/p>\n

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

PPG Investor Contact:
\n
<\/b>Alex Lopez
\n
Investor Relations
\n
+1-412-434-3466
\n
alejandrolopez@ppg.com
\n<\/a>
investor.ppg.com<\/a><\/p>\n

KEYWORDS:<\/b> Ohio Louisiana Pennsylvania Netherlands North America United States Europe Poland<\/p>\n

INDUSTRY KEYWORDS:<\/b> Chemicals\/Plastics Manufacturing<\/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 completes sale of silicas products business to QEMETICA PITTSBURGH–(BUSINESS WIRE)– PPG (NYSE: PPG) today announced that it has completed the sale of its silicas products business for approximately $310 million in pre-tax proceeds to QEMETICA a Warsaw, Poland-based, privately held manufacturer of soda ash, silicates and other specialty chemicals. PPG\u2019s 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 1-2% of PPG\u2019s total net sales. The transaction includes PPG\u2019s precipitated silicas manufacturing facilities in Lake Charles, Louisiana, and Delfzijl, The Netherlands. In addition, QEMETICA will lease silicas manufacturing and research and development operations at PPG sites in Barberton, Ohio and Monroeville, Pennsylvania, … <\/p>\n

Continue reading “PPG completes sale of silicas products business to QEMETICA”<\/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-790468","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPPG completes sale of silicas products business to QEMETICA - 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-completes-sale-of-silicas-products-business-to-qemetica\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PPG completes sale of silicas products business to QEMETICA - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PPG completes sale of silicas products business to QEMETICA PITTSBURGH–(BUSINESS WIRE)– PPG (NYSE: PPG) today announced that it has completed the sale of its silicas products business for approximately $310 million in pre-tax proceeds to QEMETICA a Warsaw, Poland-based, privately held manufacturer of soda ash, silicates and other specialty chemicals. PPG\u2019s 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 1-2% of PPG\u2019s total net sales. The transaction includes PPG\u2019s precipitated silicas manufacturing facilities in Lake Charles, Louisiana, and Delfzijl, The Netherlands. 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