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PPG to acquire transportation coatings firm Ennis-Flint

December 01/2020

MOSCOW (MRC) -- PPG Industries says it has agreed to acquire Ennis-Flint (Greensboro, North Carolina), a maker of specialized transportation coatings, for USD1.15 billion. Ennis-Flint sells and manufactures pavement markings, traffic paint, thermoplastics, and products for intelligent traffic systems, according to Chemweek.

"The company generates about USD600 million/year in revenues and mid-teens percentage EBITDA margins, PPG says.

The addition of Ennis-Flints products further enhances our existing mobility technologies in support of increased automotive occupant safety through driver-assisted and autonomous driving systems, says PPG chairman and CEO Michael McGarry. We look forward to the Ennis-Flint team joining PPG and working together to further expand the companys product distribution on a global scale.

Much of Ennis-Flints revenue is derived from non-discretionary, essential maintenance spending, PPG says. The company has manufacturing facilities in the US, Europe, South America, and Asia, and employs about 1,000 people.

The deal is part of PPGs broader strategy to expand in transportation and mobility related business. The company formed a mobility focus team in 2017 to develop products and technologies for these markets.

The transaction is expected to close in early 2021.

As MRC wrote previously, in February 2020, PPG said it had completed its acquisition of Industria Chimica Reggiana (ICR, Reggio Emilia, Italy), a maker of automotive refinish products. Financial terms of the deal, including purchase price, were not disclosed. The deal was announced on 8 January. ICR was founded in 1961 and employs about 180 people. ICR manufactures automotive refinish products, including putties, primers, basecoats and clear coats. It also makes a range of coatings, enamels and primers for light commercial vehicles and other light industrial coatings applications. ICR employs about 180 people and sells its products in more than 70 countries in Europe, Africa, the Middle East, the US and Latin America.

We remind that Russia's output of chemical products rose in September 2020 by 6.7% year on year.
At the same time, production of basic chemicals increased year on year by 6.1% in the first nine months of 2020, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-September output. September production of primary polymers decreased to 852,000 tonnes against 888,000 tonnes in August due to shutdowns in Tomsk, Ufa and Kazan. Overall output of polymers in primary form totalled 7,480,000 tonnes over the stated period, up by 16.4%  year on year.


mrcplast.com
Author:Margaret Volkova
Tags:propylene, elastotermoplast, ethylene, coatings, petrochemistry, paints and coatings, PPG, Russia, USA.
Category:General News
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