PPG recently reached an agreement to purchase Wörwag, a German manufacturer of coatings for industrial and automotive applications.
Founded in 1918, Wörwag specializes in sustainable liquid, powder, and film coatings. It employs approximately 1,100 people, operates locations in eight countries, and had revenue total an estimated $243 million in 2020.
“Wörwag’s industry expertise in powder and liquid coatings for industrial and automotive applications is highly complementary to PPG’s business, and will help to further expand our product offering,” Rebecca Liebert, PPG executive vice president, said. “The addition of Wörwag will also enhance PPG’s waterborne, direct-to-metal, liquid and powder coatings offerings, and allow us to further expand current customer distribution in key geographies.”
The deal is expected to close in the first half of the year.
PPG also recently made three other acquisitions.
Last week, PPG amended an agreement to purchase Tikkurila, a Finish paints maker. The deal is expected to close in the second quarter.
On Jan. 5, PPG reached an agreement to purchase VersaFlex, a polyurea, epoxy, and polyurethane coatings manufacturer. The deal is expected to close this quarter.
In December, PPG completed the purchase of Ennis-Flint, a pavement marking and traffic safety solutions company. Ennis-Flint’s revenue for 2020 is expected to total $600 million.