PPG to review stratgic alternatives for silica products business

PPG announced that it has engaged Morgan Stanley & Co. 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. In 2023, the silica products business represented between 1-2% of PPG’s total net sales. PPG expects to complete the review of strategic 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 Lake Charles, Louisiana and Delfzijl, The Netherlands