PPG may sell US and Canadian architectural paint business

The paint and coatings producer PPG Industries is considering strategic alternatives—which could include a sale, joint venture, or partnership—for its US and Canadian architectural coating division. The business sells paints, stains, caulks, adhesives, and sealants; it reported about $1.8 billion in sales last year, about 10% of PPG’s revenue. The firm says architectural paint sales slowed in the region last year because of low demand for do-it-yourself projects, a trend PPG expects will continue. The business includes about 6,600 employees, 750 retail stores, and manufacturing sites in five US states and two Canadian provinces. PPG isn’t selling its architectural coating business in Asia, Europe, or Latin America. The company notes that Mexico has been a particularly strong area for architectural coating sales. PPG is in the midst of reducing its portfolio. Last year, it divested traffic paint businesses in Europe, Australia, and New Zealand. In January, PPG announced that it would explore alternatives, including a sale, for its silica business.