PPG Explores Strategic Alternatives For Silica Products Business

(RTTNews) - PPG Industries, Inc. (PPG), a specialty chemicals company, Tuesday announced that it is exploring strategic alternatives for its silica products business.

The silica products business represents around 1 to 2 percent of the total net sales of the company in 2023. It has around 350 employees and manufactures its products in Lake Charles, Louisiana and Delfzijl, the Netherlands.

The key consumers for its products are tire, industrial, and silicone rubber applications; microporous fillers for battery separators; free-flow and carrier agents for food, animal feed, and agricultural and industrial chemicals to name a few.

The specialty chemicals firm expects to complete the review of its strategic alternatives by mid-2024.

Further, the company has enlisted the help of Morgan Stanley & Co. LLC as a financial advisor to review the strategic alternatives.

In pre-market activity, PPG shares are trading at $147.19, down 0.14% on the New York Stock Exchange.