PPG (NYSE: PPG) has announced it has agreed to acquire Whitford Worldwide Company, a global manufacturer that specializes in coatings for industrial applications and consumer products, the company said.
The transaction is expected to close in the first quarter 2019, subject to customary closing conditions. Financial terms were not disclosed.
PPG said Whitford´s global footprint and customer-centric, high-touch business model are highly complementary to PPG´s business, allowing for a seamless integration process. The acquisition of Whitford will allow PPG to further drive value for its customers and shareholders by enhancing our range of product offerings, research and development capabilities, and global market reach in the growing industrial coatings sector.
Whitford specializes in manufacturing low-friction, wear-resistant coatings for industrial applications in aerospace, automotive, energy and construction products.
PPG operates and innovates in more than 70 countries and reported net sales of USD 14.7 billion in 2017.