PPG Industries Inc. has agreed to sell its silicas business to Polish chemical company Qemetica SA in a deal worth $310 million. The transaction, which is expected to close in the fourth quarter of 2024, marks a strategic move by the Pittsburgh-based paint and coatings giant as it refocuses on its core businesses.
Strategic Sale After Business Review
The silicas division, which produces precipitated silica used as a performance-enhancing additive, accounted for 1-2% of PPG’s total net sales in 2023. PPG Chairman and CEO Tim Knavish had previously stated that the company was exploring strategic alternatives to maximize the business’ value for shareholders. After a comprehensive review, PPG concluded that the silicas business would be better suited under the ownership of another company.
PPG Sells Silicas Biz For $310M : Global Reach and Facility Transfers
The $310 million deal includes PPG’s silicas manufacturing plants in Lake Charles, Louisiana, and Delfzijl, The Netherlands. Qemetica will also lease the manufacturing operations in Barberton, Ohio, and PPG’s research and development site in Monroeville, Pennsylvania.
