PPG Industries has agreed to acquire The Crown Group (Warren, Michigan), a maker of component and product finishers in North America.
Terms of the transaction, which is expected close during the third quarter, have not been disclosed. Crown has sales of $125–$150 million/year, according to PPG chairman and CEO Michael McGarry.
Crown operates 11 facilities in the United States. It caters to different industries such as automotive, agriculture, construction, truck, and alternative energy. The deal will expand PPG’s application capabilities in original equipment manufacturer (OEM) coatings, according to Victor Sekmakas, executive vice president at PPG.
By Vincent Valk
Source: Chemical Week
3M and Dow have announced they are cutting thousands of roles from their global workforces in response to economic pressures. Dow has said it will cut 2,000 jobs across its global workforce (around 5%) in a bid to save US$1bn in 2023. The company says it will also cut costs by shutting down “select assets”, though it did not note where it would halt operations.
Sweden’s state mining firm has discovered what could be Europe’s largest rare earths deposit, and says it could help the bloc reduce its reliance on imports of minerals needed to manufacture clean technologies and meet climate targets.
Henkel and Avantium have been partners since 2019, when Henkel joined the PEFerence consortium. This consortium of partners, coordinated by Avantium, aims to establish an innovative supply chain for FDCA and PEF (polyethylene furanoate).