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PPG divests Traffic Solutions operations in Australia and New Zealand
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PPG divests Traffic Solutions operations in Australia and New Zealand to Geveko Markings
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Divesting Traffic Solutions operations may negatively impact PPG's revenue and profitability in the short term.
PITTSBURGH--(BUSINESS WIRE)--
PPG (NYSE:PPG) today announced that it has divested all Traffic Solutions operations in Australia and New Zealand to Geveko Markings, a pavement markings specialist headquartered in Sweden. Financial terms of the agreement were not disclosed.
The transaction includes a production, quality control and R&D facility in Ingleburn, Australia; a production facility in Dandendong, Australia; sales offices in Sydney and Auckland, New Zealand; and warehouses in Brisbane and Perth, Australia; and Auckland, New Zealand.
PPG, under the ENNIS-FLINT® by PPG brand, is a leading manufacturer and supplier of a broad range of traffic safety product solutions. The Traffic Solutions business was established by PPG in January 2021 following the December 2020 acquisition of Ennis-Flint.
“We are laser-focused on driving business growth, and we regularly review our portfolio to ensure we are in the best position to continue meeting our customers’ needs and growing profitably,” said Ed Baiden, PPG global general manager, Traffic Solutions. “We want to concentrate our investments on strategic growth areas so that we may continue to be a leader in the industry as a premier provider of traffic safety product solutions.”
PPG: WE PROTECT AND BEAUTIFY THE WORLD®
At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $17.7 billion in 2022. We serve customers in construction, consumer products, industrial, and transportation markets and aftermarkets. To learn more, visit www.ppg.com.
The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.
Ennis-Flint is a registered trademark of the PPG Group of Companies.
PPG announced that it has divested all Traffic Solutions operations in Australia and New Zealand to Geveko Markings.
Who is Geveko Markings?
Geveko Markings is a pavement markings specialist headquartered in Sweden.
What is included in the transaction?
The transaction includes a production, quality control and R&D facility in Ingleburn, Australia; a production facility in Dandendong, Australia; sales offices in Sydney and Auckland, New Zealand; and warehouses in Brisbane and Perth, Australia; and Auckland, New Zealand.
What is PPG's brand in the traffic safety product solutions industry?
PPG operates under the ENNIS-FLINT® by PPG brand.
Why did PPG divest its Traffic Solutions business?
PPG wants to concentrate its investments on strategic growth areas and continue to be a leader in the industry as a premier provider of traffic safety product solutions.
ppg industries' vision is to be the world’s leading coatings company by consistently delivering high-quality, innovative and sustainable solutions that customers trust to protect and beautify their products and surroundings. through leadership in innovation, sustainability and color, ppg provides added value to customers in construction, consumer products, industrial and transportation markets and aftermarkets to enhance more surfaces in more ways than does any other company. founded in 1883, ppg has global headquarters in pittsburgh and operates in more than 70 countries around the world. reported net sales in 2014 were $15.4 billion. ppg shares are traded on the new york stock exchange (symbol:ppg). for more information, visit www.ppg.com and follow @ppgindustries on twitter.
