PPG to acquire global coatings manufacturer
PPG is set to acquire Ennis-Flint, a global manufacturer of coatings with a broad portfolio of pavement marking products, including paint, thermoplastics and other advanced traffic technologies.
The transaction is valued at approximately $1.15 billion and is expected to close within the next few months, according to PPG.
“The acquisition of Ennis-Flint will further expand our product offering and opportunities in rapidly developing and high-growth mobility technology solutions,” said Michael McGarry, PPG chairman and chief executive officer.
He added: “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.”
PPG formed a mobility focus team in 2017 to develop mobility technologies and innovative technical solutions that provide increased functionality and solve new and unique requirements for electric, hybrid and autonomous vehicles.
Mobility-related products developed by PPG include battery-specific coatings that deliver enhanced safety and performance, autonomous vehicle coatings that improve vehicle and infrastructure visibility, and interior coatings that increase surface functionality and durability.
