PPG Completes Strategic Business Review
May 21, 2019—PPG's two separate and independent business reviews have been completed.
The company's business portfolio was completed by Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC. Each firm independently conducted multi-faceted evaluations of PPG’s business portfolio, including potential separation opportunities.
PPG’s board of directors and executive management team recently received a full report from each advisor with respect to their independent reviews. Based on these reports and its own evaluation, the Board has determined that maintaining the company’s current business portfolio composition, including its architectural and industrial coatings businesses, provides the best opportunity to maximize long-term shareholder value.
"The two independent advisors performed thorough reviews and their similar conclusions clearly indicate the value of maintaining our current business portfolio, including architectural and industrial coatings, as the best strategic path to maximize shareholder value,” said Michael H. McGarry, PPG chairman and chief executive officer, in a press release.