PPG announces acquisition
PPG will acquire Whitford Worldwide Company, a global manufacturer that specializes in low-friction and nonstick coatings for industrial applications and consumer products. The transaction is expected to close in the first quarter 2019.
Financial terms were not disclosed.
“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,” said Michael McGarry, PPG chairman and chief executive officer.
Whitford, a privately held company headquartered in Elverson, Pennsylvania, was founded in 1969. The company specializes in manufacturing low-friction, wear-resistant coatings for industrial applications in automotive, aerospace, energy and construction products. Whitford also makes nonstick coatings for cookware, bakeware and small electric appliances such as toaster ovens, griddles, fry pans and irons.
Whitford employs more than 700 people and operates 10 manufacturing facilities located in Elverson, Pa.; Fostoria, Ohio; Guelph, Ontario, Canada; Runcorn, UK; Brescia, Italy; Sao Paulo, Brazil; Jiangmen, China; Zhuhai, China; Tuas, Singapore; and Bangalore, India.
"Joining PPG is a giant step forward for Whitford,” added Dave Willis, Whitford’s founder and Chairman of the Board.
In October, PPG posted third-quarter sales of $3.8 billion, as well as an acquisition of automotive finishes manufacturer SEM Products.
Financial terms were not disclosed.
“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,” said Michael McGarry, PPG chairman and chief executive officer.
Whitford, a privately held company headquartered in Elverson, Pennsylvania, was founded in 1969. The company specializes in manufacturing low-friction, wear-resistant coatings for industrial applications in automotive, aerospace, energy and construction products. Whitford also makes nonstick coatings for cookware, bakeware and small electric appliances such as toaster ovens, griddles, fry pans and irons.
Whitford employs more than 700 people and operates 10 manufacturing facilities located in Elverson, Pa.; Fostoria, Ohio; Guelph, Ontario, Canada; Runcorn, UK; Brescia, Italy; Sao Paulo, Brazil; Jiangmen, China; Zhuhai, China; Tuas, Singapore; and Bangalore, India.
"Joining PPG is a giant step forward for Whitford,” added Dave Willis, Whitford’s founder and Chairman of the Board.
In October, PPG posted third-quarter sales of $3.8 billion, as well as an acquisition of automotive finishes manufacturer SEM Products.