PRZOOM - /newswire/ -
Pittsburgh, PA, United States, 2014/10/20 - PPG Industries announced that its North American architectural coatings business has reached a definitive agreement to acquire Westmoreland Supply, an independent architectural paint distributor headquartered in Pittsburgh - WestmorelandPaints.com. NYSE: PPG
PPG Industries today announced that its North American architectural coatings business has reached a definitive agreement to acquire Westmoreland Supply, an independent architectural paint distributor headquartered in Pittsburgh. The transaction is expected to close in the fourth quarter, subject to customary closing conditions. Financial terms were not disclosed.
The acquisition of Westmoreland Supply, which operates a 12-store network throughout Western Pennsylvania and West Virginia, will expand PPG’s North American company-owned stores footprint. Following completion of the acquisition, the locations will operate as part of PPG’s network of more than 900 company-owned stores in North America, and will be rebranded under the company’s new PPG Paints store brand.
“The acquisition of Westmoreland Supply further strengthens PPG’s company-owned stores network,” said Scott Sinetar, PPG vice president, architectural coatings, North America. “Customers who know Westmoreland Supply will continue to benefit from a great product selection and excellent customer service. Customers will also have access to the consistent, integrated experience PPG delivers through its network of PPG Paints stores.”
PPG Architectural Coatings is an industry leader in residential and commercial coatings and products. The business produces paints, stains and specialty coatings marketed under well-recognized product lines such as FLOOD®, GLIDDEN®, HOMAX®, LIQUID NAILS®, OLYMPIC®, PPG Paints and PPG PITTSBURGH PAINTS® brands. In addition to its company-owned stores, its distribution network throughout the U.S. and Canada includes more than 5,000 independent dealer locations and all major home improvement centers.
PPG: BRINGING INNOVATION TO THE SURFACE™
PPG Industries' vision is to continue to be the world’s leading coatings and specialty materials company. Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG (ppg.com) has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Reported net sales in 2013 were $15.1 billion.
Statements in this news release relating to matters that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 reflecting the company’s current view with respect to future events or objectives and financial or operational performance or results. The forward-looking statements contained herein include statements relating to the timing of and expected benefits of the Westmoreland Supply acquisition. Actual events may differ materially from current expectations and are subject to a number of risks and uncertainties, including the failure to close the acquisition, to achieve the expected benefits of the acquisition and the other risks and uncertainties discussed in PPG Industries’ periodic reports on Form 10-K and Form 10-Q, and its current reports on Form 8-K filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of their initial issuance, and PPG Industries does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
Bringing innovation to the surface is a trademark of PPG Industries Ohio, Inc.
FLOOD, GLIDDEN, HOMAX, LIQUID NAILS, OLYMPIC and PPG PITTSBURGH PAINTS are registered trademarks of the PPG group of companies.
Investors: Vince Morales - PPG Investor Relations
P: 412-434-3740 - E: vmorales[.]ppg.com.