Mexico: PPG has agreed to sell its Plaka gypsum wallboard and cement board business to Knauf. The transaction is expected to close in the first half of 2017, subject to regulatory approvals and other customary closing conditions. No financial details have been released.
PPG acquired the Plaka business in 2014 as part of its acquisition of Comex. Plaka, with sales of around US$30m in 2015, produces wallboard, plasterboard and cement board primarily for the Mexican construction market. The business employs about 200 people and operates a plant in Querétaro.