Pittsburgh-based PPG recently completed the purchase of Ennis-Flint, a North Carolina manufacturer of pavement markings and traffic-safety solutions, for approximately $1.15 billion.
Ennis-Flint makes intelligent transportation systems, raised pavement markers, traffic paint, and hot-applied and preformed thermoplastics. It employs approximately 1,000 employees worldwide and generated an estimated $600 million in revenue this year.
“The acquisition of Ennis-Flint will further expand our product offering and opportunities in rapidly developing and high-growth mobility technology solutions,” PPG Chairman and CEO Michael McGarry said in November. “The company is well known for its high-quality products, technical expertise, and innovative systems. The addition of Ennis-Flint’s products further enhances our existing mobility technologies in support of increased automotive occupant safety through driver-assisted and autonomous driving systems. We look forward to the Ennis-Flint team joining PPG and working together to further expand the company’s product distribution on a global scale.”
Additional transaction details will be disclosed during PPG’s fourth-quarter earnings conference call in January.
This month, PPG also initiated the purchase of Tikkurila, a Finnish manufacturer of decorative and industrial paints, for $1.35 billion. The deal is expected to close during the second quarter of 2021.
Tikkurila has approximately 2,600 employees and generated $687 million in sales in 2019.