US' PPG sells silicas business to QEMETICA for $310 mn

PPG (NYSE: PPG) announced that it has completed the sale of its silicas products business for approximately $310 million in pre-tax proceeds to QEMETICA a Warsaw, Poland-based, privately held manufacturer of soda ash, silicates and other specialty chemicals.

PPG’s silicas products business manufactures and supplies precipitated silica products to major companies around the world as performance-enhancing additives. In 2023, the silica products business represented between 1-2% of PPG’s total net sales. The transaction includes PPG’s precipitated silicas manufacturing facilities in Lake Charles, Louisiana, and Delfzijl, The Netherlands. In addition, QEMETICA will lease silicas manufacturing and research and development operations at PPG sites in Barberton, Ohio and Monroeville, Pennsylvania, respectively. The silicas products business is led by about 400 employees.

“We are pleased to complete this transaction with QEMETICA, and I want to thank the silicas products business employees for their dedication and commitment to the business and to PPG customers throughout the years,” said Tim Knavish, PPG chairman and chief executive officer.

QEMETICA ranks as a leading chemical manufacturer in Europe, boasting top-tier European production capacity in soda ash, evaporated salt, and silicates. The company’s growth strategy focuses on building a global presence through strategic acquisitions and expansion of operations beyond Europe, aiming to diversify its portfolio and tap into new markets. QEMETICA combines a modern approach to business with a commitment to sustainable development.

The transaction is the result of PPG’s evaluation of strategic alternatives for the business, which was first announced on January 9, 2024. Morgan Stanley & Co. LLC acted as PPG’s financial advisor and Hogan Lovells served as its legal advisor.

Note: The content of this press release has not been edited by Fibre2Fashion staff.

Fibre2Fashion News Desk (HU)