Spiegel Online manager-magazin.de

Samstag, 25. Mai 2019

Börse

BUSINESS WIRE: PPG to Acquire Automotive Coatings Manufacturer Hemmelrath

08.01.2019, 15:58 Uhr

MITTEILUNG UEBERMITTELT VON BUSINESS WIRE. FUER DEN INHALT IST ALLEIN DAS BERICHTENDE UNTERNEHMEN VERANTWORTLICH.

PITTSBURGH --(BUSINESS WIRE)-- 08.01.2019 --

PPG (NYSE: PPG) today announced that it has reached a definitive agreement to acquire automotive coatings manufacturer Hemmelrath. The transaction is expected to close in the first half of 2019, subject to customary closing conditions. Financial terms were not disclosed.

"We are excited to add Hemmelrath to our robust and diversified automotive coatings offering. This acquisition is another step forward in our strategic growth plan that will provide further value to our customers and shareholders," said Michael McGarry, PPG chairman and chief executive officer.

Headquartered in Klingenberg, Germany, Hemmelrath is a family-owned manufacturer of coatings for automotive original equipment manufacturers (OEMs). With more than 450 employees, the company operates manufacturing facilities in Klingenberg and Erlenbach, Germany; Jilin, China; Duncan, South Carolina, United States; and Indaiatuba, Brazil. Hemmelrath supplies automotive plants worldwide, and more than 7 million vehicles are coated with its products each year.

"The fit between Hemmelrath and PPG is complementary. The acquisition will enhance PPG's automotive coatings offering, and add formulating and manufacturing solutions," said Rebecca Liebert, PPG senior vice president, automotive coatings.

Anzeige

PPG: WE PROTECT AND BEAUTIFY THE WORLDTM

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for 135 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 $14.7 billion in 2017. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

Forward-Looking Statements

The forward-looking statements contained herein include statements relating to the timing of and expected benefits of the Hemmelrath acquisition. Actual events may differ materially from current expectations and are subject to a number of risks and uncertainties, including the satisfaction of the conditions of the acquisition and other risks related to completion of the acquisition and actions related thereto; the parties' ability to complete the acquisition on the anticipated terms and schedule, including the ability to obtain regulatory approvals; the ability of PPG to achieve the expected benefits of the acquisition; and the other risks and uncertainties discussed in PPG's periodic reports on Form 10-K and Form 10-Q and its current reports on Form 8-K filed with the Securities and Exchange Commission.

We protect and beautify the world is a trademark and the PPG Logo is a registered trademark of PPG Industries Ohio, Inc.

Media:
Mark Silvey
Corporate Communications
+1-412-434-3046
silvey@ppg.com

Investor:
John Bruno
Investor Relations
+1-412-434-3466
jbruno@ppg.com
investor.ppg.com

Weitere Nachrichten

24.05. IRW-PRESS: Solo Growth Corp.: Solo Growth Corp™ gibt operatives Update und Ergebnisse des ersten Quartals 2019 bekannt
24.05. BUSINESS WIRE: Teridion kündigt eine tiefe Integration mit MX Security von Cisco Meraki und SD-WAN-Anwendungen an, um einen neuen leistungsstarken Internet-Service bereitzustellen
24.05. IRW-PRESS: Nerds On Site Inc.: Nerds on Site optimiert Onboarding von Franchisenehmern, um der steigenden Nachfrage gerecht zu werden
24.05. BUSINESS WIRE: Posiflex Group stellt Ökosystem vernetzter Lösungsendpunkte mit IoT-Fernüberwachung auf der Computex 2019 ins Rampenlicht
24.05. IRW-PRESS: M2 Cobalt Corp. : M2 Cobalt entdeckt in seinen neuen Explorationslizenzen in der Region Kilembe neue Anomalien mit 37,8 % Kupfer und 18,15 g/t Gold, baut seine regionale Präsenz weiter aus und leitet Bohrungen bei Bujagali ein
24.05. RoodMicrotec schließt diesjährige Hauptversammlung erfolgreich ab
24.05. IRW-PRESS: Medigene AG: Medigene AG: Medigene präsentierte präklinische Daten zu verschiedenen TCR-Kandidaten auf der CIMT Konferenz
24.05. IRW-PRESS: Converge Technology Solutions Corp.: Converge Technology Solutions meldet Finanzergebnisse für das erste Quartal 2019
24.05. IRW-PRESS: True Leaf Medicine International Ltd.: True Leaf Medicine International Ltd. gibt Umfirmierung in True Leaf Brands Inc. bekannt
24.05. BUSINESS WIRE: New Investigational Clinical Data for Ipsen’s Oncology Products in 11 Solid Tumor Types to Be Presented at 2019 ASCO Annual Meeting
Anzeige
Anzeige