PPG has engaged Morgan Stanley & Co. LLC as financial advisor to assist in a review of strategic alternatives for its silica products business. PPG’s silica products business, which operates within the company’s specialty coatings and materials strategic business unit, manufactures and supplies precipitated silica products to major manufacturers around the world as performance-enhancing additives, including additives for adhesives. In 2023, the silica products business represented between 1-2% of PPG’s total net sales.

PPG Chairman and CEO, Tim Knavish, said, “We are exploring strategic alternatives for our silica products business to maximize its value for our shareholders and to ensure its continued success. The business has a well-established position in a growing market, proven innovation, leading proprietary products, and dedicated and talented employees. Throughout our long history in silicas, our employees have consistently led the business forward, partnering with our customers to meet their evolving needs. However, given the businesses distinct product portfolio, customer base and operating characteristics, we believe that it may be better suited to operate as a core business within another company or as a standalone entity. Throughout this process, we will continue to fully support the business and we remain committed to providing our silicas customers with high-quality products and services.”

PPG expects to complete the review of alternatives by mid-2024. There is no assurance that the review will result in any transaction or other outcome. PPG does not intend to disclose developments or provide updates on the progress or status of the review unless and until it deems further disclosure is appropriate or required.

The silica products business is led by about 350 employees and manufactures products through dedicated facilities in the United States and the Netherlands. Key end-uses include tire, industrial and silicone rubber applications, microporous fillers for battery separators, free-flow and carrier agents for food, animal feed, and agricultural and industrial chemicals, and flatting, thickening and anti-corrosion additives for paints and coatings.

To learn more, visit www.ppg.com.