PPG Completes Acquisition of Nordic Paints and Coatings Company Tikkurila

PPG (NYSE: PPG) announced completion of its acquisition of all shares in Tikkurila (NASDAQ OMX: TIK1V). Together with shares previously acquired, PPG now controls 97.1 percent of Tikkurila's issued and outstanding shares. The remaining 2.9 percent will be acquired through a compulsory redemption process to be initiated immediately. Michael McGarry, Chairman and Chief Executive Officer of PPG, said: "We look forward to welcoming the Tikkurila team and leveraging the company's complementary geographic footprint and strong portfolio of decorative brands to drive future growth. Our teams will work together as One PPG to now offer customers an expanded range of paints and coatings, including Tikkurila's environmentally friendly decorative products and high-quality industrial coatings." Tikkurila's industrial coatings business manufactures paints and coatings for wood and metal industries, among others. The company employs approximately 2,400 people worldwide and reported sales of approximately EUR 582 million in 2020.   Source