PITTSBURGH--(BUSINESS WIRE)--Oct. 20, 2014--
PPG Industries (NYSE:PPG) today announced that its North American
architectural coatings business has reached a definitive agreement to
acquire Westmoreland Supply, an independent architectural paint
distributor headquartered in Pittsburgh. The transaction is expected to
close in the fourth quarter, subject to customary closing conditions.
Financial terms were not disclosed.
The acquisition of Westmoreland Supply, which operates a 12-store
network throughout Western Pennsylvania and West Virginia, will expand
PPG’s North American company-owned stores footprint. Following
completion of the acquisition, the locations will operate as part of
PPG’s network of more than 900 company-owned stores in North America,
and will be rebranded under the company’s new PPG Paints store brand.
“The acquisition of Westmoreland Supply further strengthens PPG’s
company-owned stores network,” said Scott Sinetar, PPG vice president,
architectural coatings, North America. “Customers who know Westmoreland
Supply will continue to benefit from a great product selection and
excellent customer service. Customers will also have access to the
consistent, integrated experience PPG delivers through its network of
PPG Paints stores.”
PPG Architectural Coatings is an industry leader in residential and
commercial coatings and products. The business produces paints, stains
and specialty coatings marketed under well-recognized product lines such
as FLOOD®, GLIDDEN®, HOMAX®, LIQUID NAILS®, OLYMPIC®, PPG Paints and PPG
PITTSBURGH PAINTS® brands. In addition to its company-owned stores, its
distribution network throughout the U.S. and Canada includes more than
5,000 independent dealer locations and all major home improvement
centers.
PPG: BRINGING INNOVATION TO THE SURFACE.(TM)
PPG Industries' vision is to continue to be the world’s leading coatings
and specialty materials company. Through leadership in innovation,
sustainability and color, PPG helps customers in industrial,
transportation, consumer products, and construction markets and
aftermarkets to enhance more surfaces in more ways than does any other
company. Founded in 1883, PPG has global headquarters in Pittsburgh and
operates in nearly 70 countries around the world. Reported net sales in
2013 were $15.1 billion. PPG shares are traded on the New York Stock
Exchange (symbol: PPG). For more information, visit www.ppg.com
and follow @PPGIndustries
on Twitter.
Forward-Looking Statements
Statements in this news release relating to matters that are not
historical facts are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 reflecting the
company’s current view with respect to future events or objectives and
financial or operational performance or results. The forward-looking
statements contained herein include statements relating to the timing of
and expected benefits of the Westmoreland Supply acquisition. Actual
events may differ materially from current expectations and are subject
to a number of risks and uncertainties, including the failure to close
the acquisition, to achieve the expected benefits of the acquisition and
the other risks and uncertainties discussed in PPG Industries’ periodic
reports on Form 10-K and Form 10-Q, and its current reports on Form 8-K
filed with the Securities and Exchange Commission. Forward-looking
statements speak only as of the date of their initial issuance, and PPG
Industries does not undertake any obligation to update or revise
publicly any forward-looking statement, whether as a result of new
information, future events or otherwise.
Bringing innovation to the surface is a trademark of PPG
Industries Ohio, Inc.
FLOOD, GLIDDEN, HOMAX, LIQUID NAILS, OLYMPIC and PPG
PITTSBURGH PAINTS are registered trademarks of the PPG group of
companies.
Source: PPG Industries, Inc.
PPG Industries, Inc.
Media:
Mark Silvey, PPG Corporate
Communications, 412-434-3046
silvey@ppg.com
or
Investors:
Vince
Morales, PPG Investor Relations, 412-434-3740
vmorales@ppg.com