“Wörwag’s industry expertise in powder and liquid coatings for industrial and automotive applications is highly complementary to PPG’s business and will help to further expand our product offering,” Rebecca Liebert, executive vice president for PPG, said in a statement. “The addition of Wörwag will also enhance PPG’s waterborne, direct-to-metal, liquid and powder coatings offerings, and allow us to further epand current customer distribution in key geographies.”
Headquartered in Stuttgart, Germany, Wörwag operates sites in Germany, the US, China, South Africa, Mexico, Spain and Poland. The firm generated an estimated €220 million in revenue in 2020. About 1,110 workers are employed across Wörwag’s footprint.
“With our wide-ranging product portfolio of customized high-quality paint and coatings systems and our breadth of markets served, we are an ideal fit for the strategic alignment of PPG. This opens up numerous opportunities to expand our range of services and will generate sustainable growth potential” said Georg Saint-Denis, chief executive officer of Wörwag, in a separate release. “For our employees, PPG offers excellent development opportunities. In addition, the corporate values of both companies, with their focus on customers, people and innovation, fit very well together.”
PPG said it expects the deal to close in the first half of this year.
Powder & Bulk Solids reported this week that PPG launched a new business unit, Traffic Solutions, that will produce pavement-marking products for a wide range of end-users. The announcement comes on the heels of PPG’s acquisition of traffic safety solutions and pavement marking products maker Ennis-Flint last December.