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Issue 24/2020 - PPG intends to acquire global coatings manufacturer Ennis-Flint

 Last Update: 2022-11-12
 Source: Internet
 Author: User

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PPG intends to acquire global coatings manufacturer Ennis-Flint

On December 3, PPG announced that it had reached a definitive agreement
to acquire global coatings manufacturer Ennis-Flint.
Ennis-Flint has a broad portfolio of road markings, including paints, thermoplastics and advanced transportation technologies
.
The acquisition is valued at approximately $1.
15 billion and is expected to close in the coming months, depending on customary closing conditions
.

Michael McGarry, Chairman and Chief Executive Officer of PPG, said, "The acquisition of Ennis-Flint will help us further broaden our product portfolio and increase growth opportunities in fast-growing and high-growth
mobile technology solutions.
Ennis-Flint is known for
its high-quality products, expertise and innovative systems.
The addition of its product line will further strengthen our existing mobility technology and improve passenger safety
through driver assistance and automated driving systems.
" We look forward to the Ennis-Flint team joining PPG as we continue to expand our global product distribution
.
" ”

PPG will release more details related to the acquisition, including the financial impact
associated with the acquisition, on the fourth-quarter earnings call.

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