PPG's acquisition of TIKKURILA has not yet settled, and recently announced the completion of the acquisition of Wörwag, an automotive coating company. The specific financial situation of the acquisition has not been disclosed yet.
It is reported that Wörwag is a global manufacturer of coatings for industrial and automotive applications. Headquartered in Stuttgart, Germany. Wörwag was founded in 1918 and has approximately 1,100 employees worldwide. The company focuses on the development of sustainable liquid, powder and film coatings, with operations in Germany, the United States, China, South Africa, Mexico, Spain, Switzerland and Poland.
The acquisition will strengthen PPG's water-based, direct metal, liquid and powder coating product segments, and enable PPG to further expand its regional business scope and product range.
Rebecca Liebert, Executive Vice President of PPG, said: "The acquisition of Wörwag is another step in PPG's strategic growth plan and will provide our customers and shareholders with greater value." "Both companies have a long history of providing high-quality and sustainable solutions. History. Wörwag's customer and product business footprint, sustainable development strategy and customer-centric mission are highly complementary to PPG's business. We look forward to serving PPG and Wörwag customers in new ways, and continue to develop industry-leading Automotive paint portfolio."