PPG Completes $310 Million Sale Of Silica Products Business To Polish-Based QEMETICA

Warsaw, Poland-based private company QEMETICA announced today that it has acquired the silica products business of US-based PPG Industries for approximately $310 million in pre-tax proceeds. The deal marks a significant milestone in QEMETICA's expansion plans, with the company aiming to enhance its portfolio and market reach globally.

The sale includes PPG's precipitated silicas manufacturing facilities in Lake Charles, Louisiana, and Delfzijl, Netherlands, as well as leases for sites in Ohio and Pennsylvania. The business, representing 1-2 per cent of PPG's 2023 sales, has 400 employees who will join QEMETICA.

"We are pleased to complete this transaction with QEMETICA, and I want to thank the silicas products business employees for their dedication and commitment to the business and to PPG customers throughout the years," said Tim Knavish, PPG chairman and chief executive officer.

QEMETICA ranks as a leading chemical manufacturer in Europe, boasting top-tier European production capacity in soda ash, evaporated salt, and silicates. The company's growth strategy focuses on building a global presence through strategic acquisitions and expansion of operations beyond Europe.

With this acquisition, QEMETICA aims to tap into new markets and diversify its portfolio, combining its modern approach to business with a commitment to sustainable development. Morgan Stanley & Co. LLC acted as PPG's financial advisor, while Hogan Lovells served as its legal advisor on the transaction.

Commenting on the deal, QEMETICA management expressed their enthusiasm for integrating the silica products business into their operations and contributing to PPG's customers around the world.