Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit Completed
PPG Industries, Inc. is an American Fortune 500 company and global supplier of paints, coatings, and specialty materials. With headquarters in Pittsburgh, Pennsylvania, PPG operates in more than 70 countries around the globe. By revenue it is the largest coatings company in the world followed by AkzoNobel.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit CompletedDue to the inability to sustainably operate at even the bare minimum, PPG Industries has made the decision to activate options to exit Russia, including a possible sale or controlled exit from the Russian market.
Reducing operations in Russia due to deteriorating business conditions and regulatory restrictions. Suspending sales to Russian state-owned entities, aerospace markets, and other sanctioned parties. Suspended new investments. Continuing to supply of coatings to food and beverage packaging customers. Continuing sales of essential products in Russia to generate local currency in order to maintain employment and meet payroll. Pledge of donation of net profits generated in 2022 from Russian operations to NPOs for humanitarian support. In Sep-2023 finalized sale, sold the remaining companies.