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PPG completes acquisition of Ennis-Flint

December 25/2020

MOSCOW (MRC) -- PPG said 24 December that it has completed the acquisition of specialty transport coatings maker Ennis-Flint, said Chemweek.

PPG previously announced that the acquisition was valued at approximately USD1.15 billion. Ennis-Flint is a global leader in pavement markings and traffic safety solutions with a wide range of products, including traffic paint, hot-applied and preformed thermoplastics, raised pavement markers and intelligent transportation systems. The company has approximately 1,000 employees globally, with production within the United States, Europe, South America, Australia and Asia. Ennis-Flints full year of 2020 revenue is expected to be approximately USD600 million, with mid-teen percentage EBITDA margins.

PPG will provide additional details relating to the business acquisition, including acquisition-related financial impacts, during the company's fourth-quarter earnings conference call on 21 January.

PPG last week separately announced plans to acquire Baltic region coatings maker Tikkurila for EUR1.1 billion (USD1.3 billion). That deal is expected to close in first-half 2021. 

We remind that Russia's output of chemical products rose in October 2020 by 7.2% year on year. At the same time, production of basic chemicals grew in the first ten months of 2020 by 6.3% year on year, 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-October output. October production of polymers in primary form grew to 857,000 tonnes from 852,000 tonnes in September. Overall output of polymers in primary form totalled 8,340,000 tonnes over the stated period, up by 17%  year on year.


mrcplast.com
Author:Anna Larionova
Tags:pigmentniy krasitel, construction, paints and coatings, Tikkurila, PPG Industries Italia, PPG Polifarb Cieszyn.
Category:General News
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