02:17 PM EST, 12/02/2024 (MT Newswires) -- PPG (PPG) said Monday it has completed the sale of its architectural coatings business in the US and Canada to American Industrial Partners for $550 million.

The divestiture, representing approximately $2 billion in 2023 sales with low-single-digit earnings before interest, taxes, depreciation, and amortization margins, aligns with PPG's strategy to optimize its portfolio and improve growth and financial returns, the company said.

Shares of the company were up 0.5% in recent trading.

Price: 125.00, Change: +0.63, Percent Change: +0.51