PPG to acquire Wörwag
PPG announced that it has reached a definitive agreement to acquire Wörwag, a global manufacturer of coatings for industrial and automotive applications. The transaction is expected to close in the first half of 2021. PPG recently acquired a number of big other coatings manufacturers.
“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,” said Rebecca Liebert, PPG executive vice president. “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.”
Wörwag is a family-owned company headquartered in Stuttgart, Germany, founded in 1918. The company employs about 1,100 people globally and its full year 2020 revenue is expected to be approximately 220 million euros. The company specializes in developing sustainable liquid, powder and film coatings. Wörwag operates locations in Germany, the U.S., China, South Africa, Mexico, Spain, Switzerland and Poland.
Wörwag is one of Europes largest coatings manufacturers and was ranked 14 in European Coatings Top 25 ranking 2020. PPG recently also announced the acquisition of Tikkurila and the acquisition of Ennis-Flint.
