PPG to Acquire Global Coatings Manufacturer Wörwag

PPG announces definitive agreement to acquire Wörwag, a global coatings manufacturer serving industrial and automotive applications. The transaction is expected to close in the first half of 2021, subject to customary closing conditions. Rebecca Liebert, Vice President of PPG, stated: "Wörwag's industry expertise in powder and liquid coatings for industrial and automotive applications is complementary to PPG's business and will help us further expand our product portfolio. The addition of Wörwag will also enhance PPG's water-based, direct-to-metal, liquid and powder coating offerings and allow us to expand our existing customer distribution in key geographies." Wörwag is a family-owned company founded in 1918 in Stuttgart, Germany. The company employs approximately 1,100 people worldwide and is expected to generate revenues of approximately EUR 220 million for the full year 2020. The company specializes in developing sustainable liquid, powder and film coatings. Wörwag operates facilities in Germany, the United States, China, South Africa, Mexico, Spain, Switzerland and Poland.