- Am 12. Januar 2021
Karl Wörwag Lack- und Farbenfabrik GmbH & Co. KG today announced that its shareholders have reached a definitive agreement to sell their shares to PPG, Pittsburgh, USA. The transaction is expected to close in the first half of 2021, subject to customary closing conditions.
“With our wide-ranging product portfolio of customized high-quality paint and coatings systems and our breadth of markets served, we are an ideal fit for the strategic alignment of PPG. This opens up numerous opportunities to expand our range of services and will generate sustainable growth potential” said Georg Saint-Denis, Wörwag CEO. „For our employees, PPG offers excellent development opportunities. In addition, the corporate values of both companies, with their focus on customers, people and innovation, fit very well together.“
Wörwag: Color, coating, competence
Smart and brilliant coatings for the global industry from an inspired team of coating experts full of passion. Wörwag, is a family-owned company headquartered in Stuttgart, Germany, founded in 1918. We employ about 1,100 people globally and our full year 2020 revenue is expected to be approximately 220 million euros. We specialize in developing sustainable liquid, powder and film coatings. Besides the 3 sites in Germany, Wörwag operates locations in the U.S., China, South Africa, Mexico, Spain, Switzerland and Poland. To learn more, visit www.woerwag.com.
PPG: WE PROTECT AND BEAUTIFY THE WORLD™
At PPG, we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for more than 135 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $15.1 billion in 2019. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.