HELSINKI, June 10, 2022–(BUSINESS WIRE)–PPG (NYSE:PPG) today announced that it hosted an Investor Day in Helsinki, Finland on June 9, 2022, highlighting the company’s growth through its recent acquisitions, including Tikkurila, and its latest environmental, social and governance (ESG) initiatives and objectives.
PPG provided an update on the integration and performance of Tikkurila, a leading Nordic paints and coatings company acquired in 2021. PPG executives explained how Tikkurila:
Provides PPG with above-industry sales and earnings growth opportunities,
Strengthens PPG’s architectural coatings portfolio and drives margin expansion with its premium brands and advanced technologies,
Expands PPG’s architectural coatings footprint in EMEA and China, provides cross-selling opportunities in the Nordic region,
Strengthens PPG’s distribution channels,
Brings a complementary organizational culture to PPG, which helps create integration synergies, and
Has a strong focus on sustainability, which complements PPG’s ESG strategy.
In addition to Tikkurila, PPG executives highlighted the progress of other more recent acquisitions, including VersaFlex, Cetelon, Worwag and Ennis-Flint.
“Acquisitions are essential to PPG’s long-term growth strategy and continue to create value for the company. We are pleased with the pace of integration of our five most recent acquisitions,” said Tim Knavish., chief operating officer of PPG. “Since we finalized the acquisitions, we have identified new opportunities to bring our total synergy goal to $150 million – a 15% increase over the original goal.”
During the Investor Day, PPG also discussed its flagship ESG program. Topics discussed included PPG’s recently released Diversity, Equity and Inclusion (DE&I) report, its Scope 1 and 2 greenhouse gas emissions reduction roadmap, and its commitment set near-term emission reduction targets consistent with climate science through the Science Based Targets Initiative (SBTi). PPG aims to reduce greenhouse gas (GHG) emissions intensity by 15% by 2025 compared to 2017, reaching a 9.7% reduction in 2021. The company plans to unveil its new objectives for 2030 in the coming months. To learn more about PPG’s progress and sustainable solutions, see the company’s 2021 ESG Report at sustainability.ppg.com.
“We have made great progress towards our 2025 goals, which include aiming for 40% of our sales to come from sustainable products,” said Diane Kappas, PPG vice president, Global Sustainability. “We are leveraging our capabilities to continue to drive innovation and new product development towards more sustainable solutions, which will enable our customers to meet their sustainability commitments and goals.”
More details on the Investor Day
PPG’s 2022 Investor Day presentation is available in the PPG Investor Center at https://investor.ppg.com/presentations/presentations/default.aspx
Statements contained herein regarding matters that are not historical facts are forward-looking statements reflecting PPG’s current view regarding future events and financial performance. These matters within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, involve risks and uncertainties that could affect PPG’s operations. , as set forth in the company’s filings with the Securities and Exchange Commission pursuant to Sections 13(a), 13(c) or 15(d) of the Exchange Act, and rules and regulations promulgated pursuant thereto. -this. Accordingly, many factors could cause actual results to differ materially from the Company’s forward-looking statements. These factors include statements related to the expected effects on our business of COVID-19, global economic conditions, geopolitical issues in Europe, increased price and product competition by our competitors, cost fluctuations and availability. raw materials, energy, labor and logistics, the ability to realize selling price increases, the ability to recover margins, margin expansion, inventory levels of customers, our ability to maintain favorable supplier relationships and agreements, the timing and realization of anticipated cost savings from restructuring and other initiatives, the ability to identify opportunities for additional cost savings, the timing and expected benefits of our acquisitions, the difficulties in integrating the acquired businesses and achieving the expected sales and synergies, the conditions s economic and political markets we serve, the ability to penetrate existing foreign and domestic markets, developing and emerging markets, currency exchange rates and fluctuations in such rates, fluctuations in tax rates, the impact of future legislation, the impact of environmental regulations, the ability to achieve sustainability goals, unexpected business disruptions, the unpredictability of existing and possible future litigation, including asbestos-related litigation and government investigations. However, it is not possible to predict or identify all of these factors. Accordingly, while the list of factors presented herein and under Item 1A of PPG’s 2021 Form 10-K is believed to be representative, no such list should be considered a complete statement of all potential risks and uncertainties. Factors not listed may present additional material impediments to the making of forward-looking statements. The consequences of material differences in results from those anticipated in the forward-looking statements could include, among others, reduced sales or profits, business interruption, operational problems, financial loss, legal liability to third parties , other factors set forth in Item 1A of PPG’s 2021 Form 10-K and similar risks, any of which could have a material adverse effect on the consolidated financial condition, results of operations or liquidity of the Company.
All information contained in this release speaks only as of June 9, 2022, and any distribution of this release after such date is not intended and shall not be construed as an update or confirmation of such information. PPG undertakes no obligation to update any forward-looking statement, except as required by applicable law.
PPG: WE PROTECT AND BEAUTIFY THE WORLD™
At PPG (NYSE:PPG), we work every day to develop and deliver the specialty paints, coatings and materials our customers have trusted for nearly 140 years. Through our dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. Headquartered in Pittsburgh, we operate and innovate in more than 75 countries and had net sales of $16.8 billion in 2021. We serve customers in the construction, consumer products, markets industrial and transportation and secondary markets. To learn more, visit www.ppg.com.
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