US-based paints, coatings and specialty materials provider PPG (NYSE: PPG) has established a new business unit called Traffic Solutions, following the company's December 2020 acquisition of North Carolina-based coatings manufacturer Ennis-Flint, the company said.
PPG bought Ennis-Flint in a transaction valued at approximately USD 1.15bn. Ennis-Flint's full year of 2020 revenue is expected to be approximately USD 600m, with mid-teen percentage EBITDA margins.
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