PPG To Review Strategic Alternatives For Its Architectural Coatings Business In The U.S. And Canada

(RTTNews) - PPG Industries, Inc. (PPG), a global leader in paints, coatings, and specialty materials, announced Monday that it has engaged Goldman Sachs & Co. LLC as financial advisor to assist in a review of strategic alternatives for its architectural coatings business in the U.S. and Canada.

PPG's architectural coatings business in the U.S. and Canada, which operates within the company's performance coatings segment, is an industry leader in residential and commercial architectural coatings.

In total, the distribution network includes more than 15,000 touchpoints through company-owned stores, independent dealer locations, and major home improvement centers and retailers across the U.S. and Canada. In 2023, the architectural coatings business in the U.S. and Canada represented approximately 10% of PPG's total net sales.

PPG said it is exploring this strategic review now given the positive momentum in the business, with the intent of ensuring its continued growth and success while also maximizing the value for PPG and its shareholders.

PPG's strategic review of its architectural coatings business in the U.S. and Canada does not include its architectural coatings businesses in the other regions around the world, including in Latin America, Europe and Asia Pacific.

In January, PPG announced a strategic review of alternatives for its silica products business.