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PPG Announces Sale of Plasterboard Unit

Thursday, June 8, 2017

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PPG Industries (Pittsburgh) has completed its second divetment of a non-coatings unit in as many weeks with the sale of its Plaka plasterboard and cement-board business to Knauf International GmbH (Iphofen, Germany).

The financial terms of the sale were not disclosed.

PPG Industries

PPG Industries announced the sale of its Plaka plasterboard and cement-board business to Knauf International GmbH.

According to PPG, the Plaka plasterboard business was acquired in 2014 as part of the company's larger acquisition of Consorcio Comex, S.A. de C.V. 

$30 Million Unit

Plaka did $30 million in sales in 2015, according to PPG, and produces cement board, plaster board and drywall for the Mexican market. The business employs 200 people and has two manufacturing locations in Querétaro, Mexico.

Knauf, which bought the business, specializes in gypsum board. The company has 150 locations in over 60 countries.

For PPG, the move is part of an ongoing process to pare down on non-core businesses and focus on businesses for coatings, paints and specialty materials. This process includes the sale of its fiberglass operations and divestment of ownership interests in two Asian fiberglass joint ventures.

Last week, PPG announced the sale of its last remaining fiberglass business to Nippon Glass Co. Ltd. for $54 million.

PPG, which reported $14.75 billion in revenue last year, is the second-largest coatings manufacturer in the world by sales.

   

Tagged categories: Acquisitions; Coating Business; Coatings manufacturers; PPG

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