Whitford Worldwide to be acquired by PPG
Whitford Worldwide today announced an agreement to be acquired by PPG Industries, a Fortune 500 company and global supplier of paints, coatings and specialty materials. With headquarters in Pittsburgh, Pennsylvania, PPG operates in more than 70 countries around the globe. The transaction is expected to be completed in the first quarter of 2019, subject to customary closing conditions.
“I am proud of the strong, closely knit, family-style culture our organization has built, and excited to join with PPG, a company that shares common values with Whitford,” said David P. Willis, Jr., Chairman and founder of Whitford. “Joining PPG is a giant step forward for Whitford,” added Willis. “This will provide our organization with access to new technologies, diverse R&D facilities with the latest equipment, strong financial support and global coverage in areas where we have wanted to expand.This is very good news for our customers and our employees.”
Whitford, a privately held company headquartered in Elverson, Pennsylvania, was founded in 1969. It specializes in manufacturing low-friction, wear-resistant coatings for industrial applications in automotive, aerospace, energy and construction markets services. Whitford also makes nonstick coatings for cookware, bakeware and small electric appliances such as toaster ovens, griddles, fry pans and irons. Whitford employs more than 700 people and operates 10 manufacturing facilities located in Elverson, PA, USA; Fostoria, Ohio, USA; Guelph, Ontario, Canada; Runcorn, UK; Brescia, Italy; Sao Paulo, Brazil; Jiangmen, China; Zhuhai, China; Tuas, Singapore; and Bangalore, India. Whitford manufactures the largest, most complete line of fluoropolymer coatings in the world. Michael McGarry, PPG chairman and chief executive officer, said “The acquisition of Whitford will allow PPG to further drive value for its customers and shareholders by enhancing our range of product offerings, research and development capabilities, and global market reach in the growing industrial coatings sector. Whitford’s leadership in low-friction and nonstick coatings will provide strategic additions to the robust portfolio of industrial coatings solutions we deliver today, while PPG’s research and development organization will leverage Whitford’s extensive expertise in fluoropolymer chemistry across the markets we serve.”
“In addition, Whitford’s global footprint and customer-centric, high-touch business model are highly complementary to PPG’s business, allowing for a seamless integration process.” said Tim Knavish, PPG senior vice president, industrial coatings.
PPG’s industrial coatings business delivers solutions for every step of the production process, from pretreatment products to colorful topcoats. PPG’s industrial coatings function in an array of applications, from heavy-duty equipment, to automotive parts, hardwood floors, metal roofing panels and golf balls. In addition to helping surfaces look better and last longer, PPG’s advancements in industrial coatings help customers reduce energy use and emissions, minimize waste and leverage sustainable advantages.
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Published in Valve User Magazine Issue 48
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