PPG to Review Strategic Alternatives for Architectural Coatings Business in the U.S. and Canada
PPG a global leader in paints, coatings, and specialty materials, today announced 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 Chairman and Chief Executive Officer, Tim Knavish, said, “We are 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. We will assess whether some or all of the business could be better suited to grow faster with a partner or different owner, or may be better suited to operate as a core business within another company, as a standalone entity, or in a joint venture. Our review will help to determine if any of these alternative structures will provide the business with more speed and accelerated growth capability. Throughout this process, we will continue to fully support the business, our employees, and our architectural coatings customers throughout the U.S. and Canada.”