PPG Industries has signed an agreement with ZaCh System, a subsidiary of Zambon Company, to sell its fine chemicals business for roughly $65 million, the company announced Monday.
The transaction is expected to be complete in Q4 pending customary closing conditions and regulatory approval.
PPG facilities included in the agreement are a pharmaceutical fine chemicals plant in LaPorte, Texas, and the PPG-Sipsy facility in Avrille, France. The pharmaceutical fine chemicals plant in LaPorte operates separately from PPG's adjacent phosgene derivatives facility there, of which PPG will retain operation.
The transaction includes a book charge to income of less than $0.15/share, the release said.
The transaction is expected to be complete in Q4 pending customary closing conditions and regulatory approval.
PPG facilities included in the agreement are a pharmaceutical fine chemicals plant in LaPorte, Texas, and the PPG-Sipsy facility in Avrille, France. The pharmaceutical fine chemicals plant in LaPorte operates separately from PPG's adjacent phosgene derivatives facility there, of which PPG will retain operation.
The transaction includes a book charge to income of less than $0.15/share, the release said.
