PPG (NYSE:PPG) today announced it hosted an Investor Day in Helsinki, Finland, on June 9, 2022, highlighting the company’s growth through recent acquisitions, including Tikkurila, and its latest environmental, social and governance (ESG) initiatives and goals.
PPG provided an update on the integration and performance of Tikkurila, a leading Nordic paints and coatings company acquired in 2021. PPG leaders discussed 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 leading technologies,
- Expands PPG’s architectural coatings footprint in EMEA and China, provides cross-selling opportunities across the Nordic region,
- Bolsters PPG’s distribution channels,
- Brings a complementary organizational culture to PPG, which is helping to deliver integration synergies, and
- Has a strong focus on sustainability, which complements PPG’s ESG strategy.
In addition to Tikkurila, PPG leaders highlighted the progress of the other most recent acquisitions, including VersaFlex, Cetelon, Worwag and Ennis-Flint.
“Acquisitions are a key to PPG’s long-term growth strategy and continue to create value for the company. We are pleased with the integration pace of our five most recent acquisitions,” said Tim Knavish, PPG chief operating officer. “Since we completed the acquisitions, we have identified further opportunities to drive our total synergy target to $150 million – a 15% increase from the original goal.”
During the Investor Day, PPG also discussed its leading ESG program. Included topics were PPG’s recently published diversity, equity and inclusion (DE&I) report, its scopes 1 and 2 greenhouse gas emission reduction roadmap and its commitment to set near-term emission reduction targets in line with climate science through the Science Based Targets initiative (SBTi). PPG has an existing goal to reduce greenhouse gas (GHG) emissions intensity by 15% by 2025 from a 2017 baseline, achieving a 9.7% reduction in 2021. The company plans to unveil its new 2030 goals in the coming months. To learn more about PPG’s progress and sustainable solutions, visit the company’s 2021 ESG Report at sustainability.ppg.com.
“We have made great progress towards our 2025 targets, which include the goal of 40% of our sales from sustainably advantaged products,” said Diane Kappas, PPG vice president, Global Sustainability. “We are leveraging capabilities to continue to drive innovation and new product development toward more sustainable solutions, which will enable our customers’ ability to meet their sustainability commitments and targets.”
Further Details on Investor Day
The presentation from PPG’s 2022 Investor Day is available in PPG’s Investor Center at https://investor.ppg.com/presentations/presentations/default.aspx
Statements contained herein relating to matters that are not historical facts are forward-looking statements reflecting PPG’s current view with respect to 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 may affect PPG’s operations, as discussed 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 the rules and regulations promulgated thereunder. Accordingly, many factors could cause actual results to differ materially from the Company’s forward-looking statements. Such factors include statements related to the expected effects on our business of COVID-19, global economic conditions, geopolitical issues in Europe, increasing price and product competition by our competitors, fluctuations in cost and availability of raw materials, energy, labor and logistics, the ability to achieve selling price increases, the ability to recover margins, margin expansion, customer inventory levels, our ability to maintain favorable supplier relationships and arrangements, the timing of and the realization of anticipated cost savings from restructuring and other initiatives, the ability to identify additional cost savings opportunities, the timing and expected benefits of our acquisitions, difficulties in integrating acquired businesses and achieving expected sales and synergies therefrom, economic and political conditions in the markets we serve, the ability to penetrate existing, developing and emerging foreign and domestic markets, foreign exchange rates and fluctuations in such rates, fluctuations in tax rates, the impact of future legislation, the impact of environmental regulations, the ability to meet sustainability targets, unexpected business disruptions, the unpredictability of existing and possible future litigation, including asbestos litigation and governmental investigations. However, it is not possible to predict or identify all such factors. Consequently, while the list of factors presented here and under Item 1A of PPG’s 2021 Form 10-K is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in the results compared with those anticipated in the forward-looking statements could include, among other things, lower sales or earnings, business disruption, 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 Company’s consolidated financial condition, results of operations or liquidity.
All information in this release speaks only as of June 9, 2022, and any distribution of this release after that date is not intended and will not be construed as updating or confirming such information. PPG undertakes no obligation to update any forward-looking statement, except as otherwise required by applicable law.
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At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for nearly 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 75 countries and reported net sales of $16.8 billion in 2021. We serve customers in construction, consumer products, industrial and transportation markets, and aftermarkets. To learn more, visit www.ppg.com.
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