PPG announces commodity chemicals merger - KPLC 7 News, Lake Charles, Louisiana

PPG announces commodity chemicals merger

PPG plans to separate its commodity chemicals business and merge it with Georgia Gulf. The transaction is valued at $2.1 billion. The terms of the transaction call for PPG to form a new company by separating its commodity chemicals business and then immediately merging the business with Georgia Gulf. The transaction is expected to happen either late this year or early next year.

Here's an overview of the plan provided to KPLC in a news release earlier Thursday morning:

PPG commodity chemicals business to merge with Georgia Gulf
Creates a leading integrated chemicals and building products company
• PPG plans to separate its commodity chemicals business and merge it with Georgia
Gulf in a tax efficient transaction valued at $2.1 billion, creating a leading global
chemicals and building products company with a broad portfolio of downstream
products and approximately $5 billion in revenues.
• The transaction is highly complementary to strategic objectives of both companies, with
significant potential to enhance value for both PPG and Georgia Gulf shareholders.
• Annualized cost synergies of $115 million from the combination are expected to be fully
realized in the first two years.
• The greater scale and ability to capitalize on globally advantaged, low-cost North
American natural gas provides a solid foundation for future growth of the merged
company.
• The merged company will have a strong capital structure and cash flow to support
growth and return of capital to shareholders.
• The transaction continues PPG's strategic transformation into a more focused coatings
and specialty products company.

Stay with KPLC-TV and kplc.com for the very latest on this merger.

 

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