PPG to Sell Silicas Products Business to Qemetica for Approximately $310 Million in Pretax Proceeds

WASHINGTON (dpa-AFX) – PPG Industries, Inc. (PPG) announced Thursday that it has reached an agreement to sell its silica products business to Qemetica SA, a privately held specialty chemicals manufacturer, for estimated pretax proceeds of $310 million.

The agreement includes PPG’s precipitated silica production facilities in Lake Charles, Louisiana, and Delfzijl, Netherlands, as well as lease agreements for operations in Barberton, Ohio, and Monroeville, Pennsylvania.

Tim Knavish, PPG Chairman and CEO, said, “This transaction allows us to focus our resources even more on our technologically differentiated coatings and specialty products businesses, accelerating our organic growth and creating greater shareholder value.”

The silica product line will account for 1-2% of PPG’s total net sales in 2023 and currently employs approximately 400 people.

The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.

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