PPG has announced that it has reached a definitive agreement to acquire German coatings manufacturer Woerwag.
Expected to be completed in the first half of 2021, PPG says the acquisition of Woerwag adds a global manufacturer specialising in developing sustainable liquid, powder and film coatings for industrial and automotive applications to the company’s portfolio.
“Woerwag’s industry expertise in powder and liquid coatings for industrial and automotive applications is highly complementary to PPG’s business, and will help to further expand our product offering,” said Rebecca Liebert, PPG Executive Vice President. “The addition of Woerwag will also enhance PPG’s waterborne, direct-to-metal, liquid and powder coatings offerings, and allow us to further expand current customer distribution in key geographies.”
Woerwag is a family-owned company founded in 1918 and headquartered in Stuttgart, Germany. The company employs about 1100 people globally and its full year 2020 revenue is expected to be approximately €220 million. Woerwag has operations in Germany, the US, China, South Africa, Mexico, Spain, Switzerland and Poland.