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Stock impact report

Ingevity announces sale of Ozark Materials road markings business to PPG, strengthening strategic focus

Ingevity Corporation (NGVT) 
Last ingevity corporation earnings: 4/29 04:15 pm Check Earnings Report
US:NYSE Investor Relations: ir.ingevity.com
Company Research Source: Business Wire
Divestiture demonstrates continued execution of Ingevity’s strategy to concentrate on businesses aligned with its core capabilities. NORTH CHARLESTON, S.C.--(BUSINESS WIRE)--Ingevity Corporation (NYSE: NGVT) today announced that it has signed a definitive agreement and has successfully closed on the sale of its Ozark Materials road markings business to PPG (NYSE: PPG). The all-cash transaction results in proceeds to Ingevity of approximately $65 million, subject to customary adjustments.“The sale of Ozark Materials represents another step forward in sharpening our portfolio and focusing Ingevity on the businesses where we are best positioned to grow and create long term value,” said Dave Li, Ingevity president and CEO. “PPG brings strong expertise in pavement marking solutions, and we are confident Ozark will thrive under their ownership. We thank our Ozark colleagues for their contributions to Ingevity and wish them well in the future.”This divestiture is limited solely to Ingevit Show less Read more
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