Ppg Inds Inc Stock Price, News & Analysis

PPG Industries has announced a voluntary cash tender offer for all Tikkurila shares not held by the company. The tender offer, approved by the Finnish Financial Supervisory Authority, began on January 15, 2021. The Board of Directors of Tikkurila recommends shareholders accept the offer, as per the Updated Statement released on February 11, 2021. The Tender Offer Document and Supplement Document, with financial insights for 2020, will be available starting February 17, 2021. PPG aims to enhance its market position through this acquisition, reinforcing commitment to innovation and sustainability.

PPG (NYSE:PPG) has launched a new digital styling program aimed at automotive designers, allowing for realistic three-dimensional modeling of colors and effects on virtual car designs. The program features PPG's proprietary "speed shape," which accurately represents the interaction of color, geometry, and light on vehicle surfaces. OEMs will access an extensive library of digital color files and work with PPG's experts remotely. This initiative helps streamline the color-styling process, promising potential cost savings and faster market entry, meeting the growing demand for digital tools during the pandemic.

PPG Industries announced a voluntary cash tender offer for Tikkurila's outstanding shares, as per a Combination Agreement updated on February 4, 2021. The offer price has been increased, and the Minimum Condition for acceptance has been lowered from over 90% to over 66.7%. The Finnish Financial Supervisory Authority has approved the supplement to the Tender Offer Document, which will be available in Finnish and English starting February 11, 2021. PPG aims to enhance its leadership in the coating sector through this acquisition.

PPG (NYSE:PPG) has appointed Pascal Tisseyre as vice president of Architectural Coatings for the EMEA South region, effective March 1. Tisseyre, who joined PPG in 2008 following its acquisition of SigmaKalon, previously served as general manager, successfully enhancing the region's go-to-market strategy and implementing digital technologies. He holds a master’s degree in finance from the University of Dauphine in Paris. This leadership change aims to further strengthen PPG's growth strategies and product offerings for its customers.

PPG (NYSE:PPG) has published its 2020 automotive color popularity report, revealing that blue hues have risen to 9% of global share, up from 8% in 2019. The increase is attributed to consumer preferences influenced by the COVID-19 pandemic, with blue becoming more prominent in vehicles, particularly in Asia-Pacific, where it saw a 1% rise. While white remains the most popular color at 34%, its share decreased by 1%. The report forecasts that blue will continue to evolve into vibrant and desaturated shades, while overall, natural tones are gaining traction, reflecting changing consumer attitudes.

PPG (NYSE:PPG) has announced that Leigh-Ann Humbert, senior research manager in automotive OEM coatings, has received the American Chemical Society (ACS) Pittsburgh Award for her innovative contributions to coatings technology. Over her 30-year career at PPG, Humbert played a pivotal role in developing energy-efficient, low-VOC coatings, including the B1:B2™ Compact Paint System, which reduces operational costs for manufacturers. This recognition highlights PPG's commitment to innovation within the automotive coatings sector.

PPG (NYSE: PPG) has successfully acquired approximately 9.32% of Tikkurila's shares from Varma Mutual Pension Insurance Company, Mandatum Life Insurance Company Limited, and Kaleva Mutual Insurance Company for about €140 million, at €34 per share. Additionally, Tikkurila's largest shareholder, Oras Invest Oyj, holding about 20.01%, has agreed to sell its shares upon regulatory approval. This acquisition could total around 29.34% of Tikkurila's shares. PPG's tender offer commenced on January 15, 2021, and is expected to close by March 2021, pending customary conditions.

PPG (NYSE:PPG) and Tikkurila (NASDAQ OMX:TIK1V) have amended their definitive combination agreement, increasing PPG's cash offer to €34.00 per share, valuing the transaction at approximately €1.52 billion. This revised offer follows a competing bid from AkzoNobel made on January 28, 2021.

PPG's offer includes an 8.8% premium over AkzoNobel's bid and lowers the tender acceptance threshold to 66.7%. Tikkurila's Board has unanimously recommended the offer, citing better price, certainty, and timing. The transaction is expected to close by March or early Q2 2021.