PPG (NYSE: PPG), Pittsburgh, Pennsylvania, on Monday announced that it has completed its acquisition of Wörwag, a global manufacturer of coatings for industrial and automotive applications. Financial terms of the deal weren’t disclosed.
Wörwag develops sustainable liquid, powder and film coatings and operates locations in Germany, the U.S., China, South Africa, Mexico, Spain, Switzerland and Poland, with headquarters in Stuttgart, Germany. Founded in 1918, the company employs about 1,100 people globally.
“The acquisition of Wörwag is another step forward in PPG’s strategic growth plan that will provide further value to our customers and shareholders,” said Rebecca Liebert, PPG executive vice president. “Both companies have a strong history of providing high-quality and sustainable solutions. Wörwag’s customer and product footprint, sustainability focus and customer-centric approach are highly complementary to PPG’s business. We look forward to serving both PPG and Wörwag customers in new ways, and continuing to develop an industry-leading automotive coatings portfolio.”
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