PPG Industries, Inc. is an American multinational company founded in 1883 as Pittsburgh Paints & Glass and is headquartered in Pittsburgh, Pennsylvania. It specializes in paints, coatings, and specialty materials.
According to reports, PPG has announced plans to lay off 1,800 employees in the United States and Europe as part of a cost-cutting initiative after agreements to sell two of its businesses.
The report further mentions that the company plans to sell its architectural coatings business in the U.S. and Canada to American Industrial Partners for about $550 million USD. The transaction is expected to close in late 2024 or early 2025. It will also sell its silica products business to Polish chemical company Qemetica for $310 million USD. The deal is expected to close in the fourth quarter of 2024.
