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Wednesday, December 30, 2020 12:46:23 PM
Respectfully, that is absolutely not true. PMPG absolutely does have a relationship with PPG through the PPG wholly owned subsidiary, Ennis-Flint.
Even though Ennis-Flint might have complete autonomy to act operationally as a separate entity, they still report to PPG because PPG is the Parent Company and Ennis-Flint is still their wholly owned subsidiary. Remember, PPG acquired Ennis-Flint for $1.15 Billion:
https://www.bizjournals.com/triad/news/2020/12/04/ppg-to-acquire-ennis-flint-for-115-billion.html
With PPG being the Parent Company, they are going to need to know and be involved with what deals Ennis-Flint are doing, especially when they can generate significant revenues for the company going forward with this PMPG deal. Because of their union, Ennis-Flint must be within the Consolidated Financials for PPG because of them being a NYSE company that files audited financials with the SEC. There is absolutely some kind of a relationship. It will be primarily though through either Ennis-Flint or both.
v/r
Sterling
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