Bloomberg News

Georgia Gulf to Buy PPG’s Commodity Chemicals For $1.9 Billion

July 19, 2012

Georgia Gulf Corp. (GGC:US) will buy PPG Industries Inc. (PPG:US)’s commodity chemicals company for $900 million in cash and $1 billion in shares.

PPG, based in Pittsburgh, is forming a separate company to include its commodity chemicals company, according to a statement today. The company will then be sold to Atlanta-based Georgia Gulf.

The acquisition is expected to be completed late this year or early next year. The company expects to have revenues of $5 billion, according to the statement.

“This transaction is another major step in our strategic transformation into a more focused coatings and specialty products company,” PPG Chairman and Chief Executive Officer Charles Bunch said in the statement.

To contact the editor responsible for this story: Jessica Resnick-Ault at jresnickault@bloomberg.net


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Companies Mentioned

  • PPG
    (PPG Industries Inc)
    • $204.63 USD
    • 0.86
    • 0.42%
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