PPG Industries, the Pennsylvania-based chemical and coatings manufacturer, recently undertook a series of strategic moves. These include the sale of their architectural coatings business to American Industrial Partners, a deal that renamed the sold entity to The Pittsburgh Paints Company. Additionally, their silicas products business completed sale to QEMETICA. These divestments come in line with the company’s significant cost-cutting strategy, with the announcement of laying off 1,800 employees worldwide. However, PPG Industries is also making strides in renewable energy front, reflected in the completion of an on-site solar installation at their Caivano facility in Italy. Despite these moves, the quarterly profit estimates failed to meet expectations due to weak industrial coatings demand. Nonetheless, the firm remains committed to boosting its presence in Italy with an announced partnership with SARO/Siccardi to ramp up their powder coatings presence. Lastly, PPG Industries announced executive leadership appointments as part of a major leadership shuffle across its automotive and packaging units.
Ppg Industries PPG News Analytics from Thu, 30 May 2024 07:00:00 GMT to Sat, 07 Dec 2024 14:25:02 GMT - Rating -2 - Innovation 1 - Information 5 - Rumor -2
