International. PPG has reached a definitive agreement to acquire Whitford Worldwide Company ("Whitford"), a global manufacturer specializing in nonstick and low-friction coatings for industrial applications and consumer products. The transaction is expected to close in the first quarter of 2019, subject to customary closing conditions. Financial terms were not disclosed.
"The acquisition of Whitford will enable PPG to further drive value for its customers and shareholders by enhancing our range of product offerings, research and development capabilities, and global market reach in the growing industrial coatings sector," said Michael McGarry, PRESIDENT AND CHIEF EXECUTIVE OFFICER OF PPG.
Whitford, a privately held company based in Elverson, Pennsylvania, was founded in 1969. The company specializes in manufacturing low-friction, wear-resistant coatings for industrial applications in automotive, aerospace, energy and construction products.
Whitford also makes nonstick coatings for cookware, baking utensils, and small appliances such as toaster ovens, grills, pans, and irons. Whitford employs more than 700 people and operates 10 manufacturing facilities located in Elverson, PA, USA; Fostoria, Ohio, USA; Guelph, Ontario, Canada; Runcorn, United Kingdom; Brescia, Italy; São Paulo, Brazil; Jiangmen, China; Zhuhai, China; Tuas, Singapore; and Bangalore, India.
