PPG Receives Finnish Ministry of Economic Affairs and Employment Approval for Pending Acquisition of Tikkurila Shares

PPG announced that the Ministry of Economic Affairs and Employment of Finland has granted approval of PPG’s tender offer for the outstanding shares of Tikkurila Oyj. The approval is an important milestone and further enhances the certainty of PPG completing the tender offer.

The tender offer remains subject to additional customary conditions to completion, including the valid tender of shares representing, together with shares otherwise held by PPG and its subsidiaries, more than 66.7% of the outstanding shares. PPG will provide additional updates on or shortly after the extended tender offer period expires on March 30, 2021.

Additional details about the approval are contained in the Nasdaq Helsinki stock exchange release.

About PPG

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for more than 135 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $13.8 billion in 2020. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

About Tikkurila

Tikkurila was established in 1862, and is headquartered in Vantaa, Finland. Tikkurila operates in eleven countries and its 2,700 dedicated professionals share the joy of building a vivid future through surfaces that make a difference. The company is a leading producer and distributor of decorative paint and coatings with more than 80% of its revenue coming from Finland, Sweden, Russia, Poland, and the Baltic states. Its premium brands include Tikkurila, ALCRO, and Beckers. In addition, Tikkurila’s industrial paint business participates in the wood and protective coatings end-use segments, among others. The company employs approximately 2,700 people globally and reported sales of approximately EUR 582 million in 2020.

Contact:

Mark Silvey – Corporate Communications – silvey@ppg.com – (412) 434-3046

Source: PPG Industries, Inc.