So.....What is everyone's thoughts on what is going to become of the Architectural Coatings side of the company? I personally believe that it is going to be sold off and truthfully it is a shame. The company has never invested in driving business through their company owned stores and then wonder why they are not profitable. If you want to be in the Stores business, you have to advertise to bring people into your stores. Instead, they chose to spend money on PPG Services (Failure) drove business away, PPG App (Failure) customers are not using but stores have to put in orders to make it look like the customers are using. And then the Home Depot Partnership which from what I am hearing is not working. Whatever happens it is out of our control, but it has come to this because of many missteps by our so-called leadership.
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PPG employee here. It’s a disaster. Just announced the sale to AIP. And they will resell in 5 years. They said they always sell companies they buy by 5-8 years. So no structure or stability. Only concerned about Home Depot,Walmart and dealers. Company stores will be done. Paint contractors will be pulling jobs and leaving in droves.
A guess would be Private Equity
It’s definitely going to be sold off. They’ve pretty much confirmed that without actually confirming it. Likely to hear something within the coming days or weeks. Deal will be finalized by 12/31 because PPG doesn’t want to carry the business over into 2025. It will be a great thing for all architectural employees. Leadership at PPG is non existent and so is their investment into the business.
The earnings call confirmed they are going to sell it off. Who’s buying?