PPG reviews strategic alternatives for silica products business

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

“We are exploring strategic alternatives for our silica products business to maximize its value for our shareholders and to ensure its continued success,” says Tim Knavish, chief executive officer of PPG. “Given the business’s 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.” 

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.