PPG Industries has entered into an agreement to purchase the German powder and liquid coatings maker, Wörwag, a deal expected to be completed by the first half of the year, subject to customary closing conditions.
The American paints, coatings and materials firm described Wörwag’s industry expertise in relation to industrial and automotive applications as “highly complementary to PPG’s business and will help to further expand our product offering”.
Rebecca Liebert, PPG’s executive vice president, said: “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.”
Wörwag is a family-owned company based in Stuttgart, but operates sites in Germany, the US, China, South Africa, Mexico, Spain, Switzerland and Poland. It was founded in 1918 and employs about 1,100 workers.
They describe their products as “smart and brilliant coatings for the global industry from an inspired team of coating experts full of passion”.
CEO Georg Saint-Denis said: “With our wide-ranging product portfolio of customised 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. 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.”