June 27, 2012
PITTSBURGH--(BUSINESS WIRE)--PPG Industries (NYSE:PPG) announced today that it has signed a memorandum of understanding with Henan Billions Chemicals Co., Ltd. (Billions), by which PPG will license certain chloride-based technologies to Billions for use at Billions’ titanium dioxide (TiO2) refinement facilities in China. In addition, PPG has signed a long-term purchase agreement for titanium dioxide with Billions. Commercial terms of the agreements and license proceeds from Billions to PPG were not disclosed.
“This agreement with Billions provides further evidence of PPG’s commitment to utilize our existing expertise to expand and secure additional global supply of titanium dioxide”
PPG intends to use the chloride-based TiO2 manufactured by Billions for various end-use applications, including paints and other coatings. The TiO2 also would be available for sale to third parties.
“This agreement with Billions provides further evidence of PPG’s commitment to utilize our existing expertise to expand and secure additional global supply of titanium dioxide,” said Charles F. Kahle II, PPG chief technology officer and vice president, coatings research and development.
PPG previously manufactured titanium dioxide using the chloride process at its chemicals facility in Natrium, W.Va., and sold titanium dioxide pigment for coatings and other end-use applications. Titanium dioxide is a raw material widely used in the paint and coatings industry as a pigment to provide hiding, durability and whiteness characteristics.