PPG sells Traffic Solutions ops in Australia and New Zealand to Geveko, no terms

PPG announced, earlier on Wednesday, that it has divested all Traffic Solutions operations in Australia and New Zealand to Geveko Markings, a pavement markings specialist headquartered in Sweden. Financial terms of the agreement were not disclosed. The transaction includes a production, quality control and R&D facility in Ingleburn, Australia; a production facility in Dandendong, Australia; sales offices in Sydney and Auckland, New Zealand; and warehouses in Brisbane and Perth, Australia; and Auckland, New Zealand. “We are laser-focused on driving business growth, and we regularly review our portfolio to ensure we are in the best position to continue meeting our customers’ needs and growing profitably,” said Ed Baiden, PPG global general manager, Traffic Solutions. “We want to concentrate our investments on strategic growth areas so that we may continue to be a leader in the industry as a premier provider of traffic safety product solutions.”