**PPG Industries to Divest Silicas Products Division to Qemetica S.A.**PPG Industries, Inc. (PPG) has announced an agreement to divest its silicas products division to Qemetica S.A., a private specialty chemicals manufacturer, for an estimated pre-tax sum of $310 million.The agreement includes PPG’s manufacturing facilities for precipitated silicas in Lake Charles, Louisiana, and Delfzijl, the Netherlands. Additionally, it encompasses leasing arrangements for operations in Barberton, Ohio, and Monroeville, Pennsylvania.Tim Knavish, PPG Chairman and Chief Executive Officer, stated, “This transaction will enable us to further concentrate our resources on our technology-differentiated coatings and specialty products businesses, accelerating our organic growth and driving increased shareholder value.”The silicas product line represents 1-2% of PPG’s total net sales for 2023 and employs approximately 400 individuals.The deal is expected to close in the fourth quarter of 2024, subject to standard closing conditions.The material has been provided by InstaForex Company – www.instaforex.com
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