platforms and an extensive
global footprint. These enhanced
capabilities will benefit our cus-
tomers and create sustainable
long-term value for our shareholders.”
With corporate headquarters in
Cleveland, Ohio, the combined company
generated pro forma 2016 revenues of
$15.8 billion and employs approximate-
ly 60,000 associates worldwide. It has
a prominent market position in archi-
tectural paint in North America, South
America, China, Australia and the UK. In
industrial coatings, the combined compa-
ny is a global market leader in packaging
coatings, coil coatings, general industrial
coatings and industrial wood coatings.
As previously communicated, Sherwin-Williams expects to achieve $320 million
of annual run-rate synergies in the areas
of sourcing, SG&A and process and efficiency savings, within three years. The
company also expects this transaction to
be immediately accretive to earnings (
excluding one-time costs) and to meaningfully increase the Company’s operating
cash flow.
PPG Sells Remaining
Fiberglass Operations
PPG recently reached a definitive agreement to sell its remaining fiberglass operations to Nippon Electric Glass Co.
Ltd. (NEG), a leading manufacturer of
fiberglass. The transaction is expected to
close in the second half of 2017, subject
to customary closing conditions. Pre-tax
proceeds from the sale are approximately
$545 million, and are subject to customary closing adjustments.
PPG’s remaining fiberglass operations include manufacturing facilities in
Chester, South Carolina, and Lexington
and Shelby, North Carolina; and administrative and research-and-development
operations in Shelby and in Harmar,
Pennsylvania, near Pittsburgh. The business, which employs more than 1,000
people and had net sales of approximately $350 million in 2016, supplies the
transportation, energy, infrastructure and
consumer markets.
In 2016, PPG completed the sale of its
European fiberglass operations to NEG
and divested its ownership interests in
two Asian fiberglass joint ventures. PPG
also completed the sale of its North
American flat glass business in 2016.
PPG Marks Completion
of € 45 million Paint and
Coatings Facility in Lipetsk,
Russia
PPG marked the opening of a € 45 million
($49 million) paint and coatings manufacturing facility and commercial operation in the Lipetsk region of Russia. The
site will provide about 200 total positions and produce about 25 million liters
( 6. 6 million gallons) of coatings at full
capacity.
In addition to facilities for manufacturing and distributing coatings for
automotive, industrial, packaging, and
protective and marine applications, the
facility includes administrative offices
and technical laboratories.
“PPG’s investment in this facility fur-
ther demonstrates our commitment to
better serve our existing customers in
Russia and Eastern Europe, and to ex-
pand our presence in the Europe, Middle
East and Africa (EMEA) region,” said
Jean-Marie Greindl, PPG senior vice
president, global architectural coatings,
and president, PPG EMEA. “Having local
manufacturing, distribution and technical
operations will help PPG meet growing
local demand for its innovative paint and
coatings products.”
Since announcing plans for the new
facility in 2013, PPG has established
itself as a supportive member of the
Lipetsk community through various
activities. Last year, PPG employees
volunteered at the Griazy orphanage in
Lipetsk to help repair and update the
building’s gymnasium, replacing ma-
terials on floors and walls with safer
products donated by PPG and its local
distributor. PPG also operates an ad-
hesives and sealants plant in Kolomna,
Russia, and the company donated to a
local school there to help it better serve
young people in the community.
“As a community partner, PPG wants
to support local organizations that are
making a difference where our employees
work and live,” said Jens Brackebusch,
PPG general manager, Russia. “This is an
important part of our global mission to
be caring, responsible corporate citizens
in our communities.”
J.D. Power Ranks Valspar
Exterior Paints Highest
In J.D. Power Customer
Satisfaction For 2017
Valspar exterior paints received top consumer satisfaction rankings, according to
a recent survey by J.D. Power, a leader
in consumer insight. Valspar’s exterior
paints portfolio – available at Lowe’s,
Ace Hardware and independent retailers
– earned high praise from respondents, as
did the company’s extensive design guides
and selection tools.
The 2017 Paint Satisfaction Study is
based on responses from 8,758 custom-
ers who purchased and applied interior
paint, exterior paint and/or exterior stain
in the previous 12 months. The study was
fielded February-March 2017. According
to Greg Truex, senior director of the at-
home practice at J.D. Power, “satisfaction
among exterior stain customers comes
after the purchase, when they judge the
product’s durability, which mostly en-
compasses longevity of finish and weath-
er resistance.”
As leaders in the category, Valspar
was recently the first company to debut
an exterior paint collection designed
specifically to address climate concerns
by region.Valspar Reserve Extreme
Weather Paint + Primer with SunStopper
Technology, formulated to block sun
damage for better protection against UV
damage in hot sunny regions Valspar
Reserve Extreme Weather Paint +
Primer with SeasonFlex Technology, cre-
ated to expand or contract as needed for
areas with both extreme heat and freez-
ing cold, and Valspar Reserve Extreme
Weather Paint + Primer with RainRelief
Technology, which features a mildew-
resistant finish ideal for rainy and humid
regions. The Valspar Regional Exterior
paints offers customers the ultimate
solution for outer surface protection
against the elements. The Reserve re-
gional exterior line is currently available
exclusively at Lowe’s, with each paint
type available in the regions for which
they were designed. CW
