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PPG Industries, Inc. develops and sells paints, coatings and specialty products for construction, consumer products, industrial, transportation and aftermarket customers. Company news commonly covers segment results in Global Architectural Coatings, Performance Coatings, Industrial Coatings, aerospace coatings, protective and marine coatings, Traffic Solutions, and packaging or automotive OEM coatings.
Recurring updates also include product and technology investments, such as radiation-curable coatings, protective systems for data center infrastructure, and R&D activity across regional laboratories. PPG news also addresses acquisitions that expand coatings lines, dividend declarations, shareholder meeting matters, leadership changes, digital transformation and operational efficiency initiatives.
PPG (NYSE: PPG) has announced that its PPG MOONWALK™ automated paint mixing system has won the 2020 Technology and Innovation Award from bodyshop magazine. This system is celebrated for its colorimetric precision, economic efficiency, and labor productivity. With a user-friendly design featuring a moving scale and integrated touchscreen, it enhances paint-mixing accuracy while minimizing environmental impact. PPG has also introduced a mobile version of the system for live demonstrations across the EMEA region, further showcasing its commitment to innovation in the automotive refinish industry.
PPG (NYSE:PPG) has appointed Markus Melkko as the interim CEO of Tikkurila Oyj, effective immediately. Melkko, who has been serving as CFO, takes over following the resignation of Elisa Markula, who is leaving for a CEO role in another sector. Markula's resignation will take effect on a date yet to be announced, but she will support the transition. PPG executives have praised Melkko's leadership in transforming Tikkurila and executing business strategies that enhance stakeholder value.
PPG (NYSE:PPG) has successfully completed its acquisition of Tikkurila (NASDAQ OMX: TIK1V), acquiring all tendered shares at €34.00 each, totaling approximately 38.7 million shares. PPG now controls 97.1% of Tikkurila, with the remaining shares to be acquired through a squeeze-out process. Tikkurila, a leading decorative paint producer from Finland, reported sales of €582 million in 2020. PPG aims to leverage Tikkurila's portfolio and geographic presence to drive growth and enhance customer offerings, highlighting synergies and innovation potential.
PPG (NYSE:PPG) supplied aerospace sealants, coatings, and adhesives for United Launch Alliance's Atlas V 541 rocket, which successfully launched NASA's Perseverance rover to Mars in July 2020. The rover landed on Mars in February 2021. Key PPG products included the DESOTHANE™ CA8200 Series HS polyurethane topcoat and PR-2001 Class B rapid-curing fuel tank sealant. PPG's Atlanta application support center collaborated closely with ULA to ensure product delivery and technical support. PPG operates globally, offering various products and services across multiple sectors.
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PPG (NYSE: PPG) has secured regulatory approval from the Federal Antimonopoly Service of Russia for its tender offer for Tikkurila (NASDAQ OMX: TIK1V). This approval completes all necessary regulatory conditions, allowing the tender offer to expire on June 4, 2021, with closure expected around June 10, 2021. Earlier, confirmations from the European Commission and Finland’s Ministry of Economic Affairs indicated broad regulatory support. PPG needs shares representing over 66.7% of Tikkurila to finalize the acquisition. Details regarding the offer will be updated in Nasdaq Helsinki documentation.
PPG (NYSE: PPG) has unveiled its new Coraflon® Platinum powder coatings for architectural extrusions and sheet aluminum. These advanced coatings feature over 20% transfer efficiency and enhanced corrosion resistance compared to standard options. Available globally, they come in a variety of colors and finishes, including matte options that replicate anodized aluminum. Coraflon Platinum coatings meet rigorous environmental standards and are backed by over nine years of testing, receiving a 20-year warranty. PPG reported net sales of $13.8 billion in 2020, operating in over 70 countries.
PPG has successfully completed the acquisition of Wörwag, a global manufacturer specializing in coatings for industrial and automotive applications. This strategic acquisition is intended to enhance PPG's growth and provide additional value for its customers and shareholders. Wörwag operates across several countries, including Germany, the U.S., and China, and employs around 1,100 people. PPG aims to leverage Wörwag’s sustainable solutions and customer-centric approach to strengthen its automotive coatings portfolio.
PPG (NYSE: PPG) has invested $13 million in its Jiading, China facility, enhancing its powder coating production with eight new lines and an expanded Technology Center. This expansion will increase annual capacity by over 8,000 metric tons, focusing on sustainable coatings to meet growing demand. The new facility covers 2,000 square meters and features advanced R&D capabilities, supporting various sectors like automotive and consumer electronics. This move aligns with PPG's commitment to innovation in coatings, ensuring high-quality products for the Asia Pacific region.
PPG (NYSE:PPG) has announced the extension of its tender offer for all outstanding shares of Tikkurila Oyj (NASDAQ OMX:TIK1V) to allow for additional regulatory review. Originally set to expire on May 11, 2021, the extension comes amidst delays due to COVID-19 restrictions impacting the Federal Antimonopoly Service (FAS) of Russia's assessment. Approval from the FAS remains pending, while approvals from the European Commission and other authorities have already been granted. PPG aims to secure over 66.7% of Tikkurila's shares for the acquisition to proceed.