PPG Industries (PPG) said Monday it closed the sale of its silicas products business to Qemetica for about $310 million in pre-tax proceeds.
The deal includes PPG's precipitated silicas manufacturing facilities in Lake Charles, Louisiana, and Delfzijl, the Netherlands.
Qemetica will lease silicas manufacturing and research and development operations at PPG sites in Barberton, Ohio, and Monroeville, Pennsylvania, the company said.
PPG shares were up 2.5% in recent trading.
Price: 125.75, Change: +3.10, Percent Change: +2.53
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