On November 30th, local time in the United States, PPG announced that it had reached a final agreement to acquire Ennis-Flint, a US paint manufacturer. The transaction is valued at approximately US$1.15 billion and is expected to be completed within the next few months.
Ennis-Flint's coating products are mainly used in pavement marking products, including paint, thermoplastics and other traffic safety technologies.
Ennis-Flint has approximately 1,000 workers worldwide and is expected to have sales of US$600 million in 2020. PPG said it will provide more details in its fourth quarter performance report in January.