Pittsburgh, PA-based PPG, a supplier of paints, coatings, optical products, and specialty materials, said it will acquire Elverson, PA-based Whitford Worldwide Company, which specializes in the manufacture of low-friction and non-stick coatings for industrial applications and consumer products including cookware.
According to PPG, the transaction is expected to close in the first quarter 2019, subject to customary closing conditions. Financial terms were not disclosed.
“Joining PPG is a giant step forward for Whitford,” added Dave Willis, Whitford’s founder and chairman of the board. “In one fell swoop, we will have access to new technologies, diverse R&D facilities, strong financial support and global coverage in areas where we have wanted to expand, but did not yet have sufficient resources. This is very good news for our customers and our employees.”
According to Tim Knavish, SVP/industrial coatings of PPG, Whitford’s acquisition will provide strategic additions to the company’s portfolio of industrial coatings solutions.
“Whitford’s global footprint and customer-centric, high-touch business model are highly complementary to PPG’s business, allowing for a seamless integration process,” Knavish added.