7 January 2019
ABOUT PPG
ABOUT HAMMELRATH
DETAILS
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.
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.
Michael McGarry,
PPG chairman and chief executive officer
“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,”
Rebecca Liebert,
PPG senior vice president, automotive coatings.
“The fit between Hemmelrath and PPG is complementary.
The acquisition will enhance
PPG’s automotive coatings offering,
and add formulating and manufacturing solutions,”
Contact:
Media:
Mark Silvey
Corporate Communications
+1-412-434-3046
silvey@ppg.com [9]
Investor:
John Bruno
Investor Relations
+1-412-434-3466
jbruno@ppg.com [10]
investor.ppg.com [11]
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