"PPG hires Morgan Stanley to evaluate silica business, consider divestiture and explore strategic alternatives"

　　According to a report by "Rubber & Plastics News" on January 11, 2024, PPG, a US coatings and chemicals manufacturer headquartered in Pittsburgh, recently hired Morgan Stanley as a financial advisor to assist in evaluating the feasibility of divesting its silica business. sex. The assessment is expected to be completed by the middle of this year. PPG stated that its silica business occupies a solid position in the growing market, with a mature innovation system and leading patented products. However, in PPG's specialty coatings and materials business, silica sales will only account for 1-2% of the group's total sales in 2023.

　　PPG CEO and Chairman Tim Knavish said the business may be better suited as a core business of another company or as a standalone entity, given silica's unique product portfolio and specific customer base. operations. At the same time, the company is studying strategic alternatives for its silica products business to maximize its return on value to shareholders.

　　PPG has been a leader in the development and manufacturing of silica since the 1930s. PPG has the industry's broadest and most trusted line of precipitation silica products, including the famous PPG HI-SIL® series and the recently launched PPG AGILON® high-performance silica product line. These products feature breakthrough technologies that help manufacturers of industrial rubber products and tires improve product performance, streamline manufacturing processes and create healthier environments. PPG continues to drive leadership and a tradition of innovation through partnerships with customers across a broad range of industries.

　　PPG's silica product business leadership and executive team are located at the Monroeville, Pennsylvania, facility, which is equipped with laboratories and test facilities. High-volume production facilities are located in Lake Charles, Louisiana, and Delfziel, the Netherlands, and employ approximately 350 people. In addition, the Barberton, Ohio, plant also processes some low-volume products.

　　PPG's silica products are mainly used in industrial products such as tires and silicone rubber. They are also used as microporous fillers in battery separators and as additives in paints and coatings.