PPG completes divestiture of fine chemicals business

PPG Industries on November 30 completed the sale of its fine chemicals business to ZaCh System S.p.A., the fine chemicals subsidiary of Zambon Company S.p.A., Milan, Italy, for approximately $65 million.

“This transaction is an important element in PPG’s strategy to focus its efforts on continuing to be a leader in coatings and specialty products and services,” said Charles E. Bunch, PPG chairman and chief executive officer.

PPG facilities included in the agreement are a fine chemicals plant in LaPorte, Texas, and the PPG-Sipsy facility in Avrillé, France. The fine chemicals plant in LaPorte operates separately from an adjacent phosgene derivatives facility, which is being retained by PPG. The fine chemicals business employs approximately 360 people.