SEM has announced that it has entered into an agreement to be acquired by PPG.

A statement issued from SEM said that the deal was seen as very good news for the company and its customers.

“Not only is PPG a strong, stable global company with headquarters in Pittsburgh, Pa., but it shares many of our core values: commitment to its employees, sustainability, the community, and to partnering with distributors and body shops to get collision repair jobs done faster,” said the statement

Although the deal is still subject to customary closing conditions, SEM said that it expects the agreement to be finalized in the fourth quarter of 2018.

It also said that despite the acquisition of SEM by PPG, day-to-day operations at SEM are expected to continue as normal.

“The intent is for SEM to operate as an independent, stand-alone company, which means that there are little to no changes to how we do business today. We look forward to continuing to partner with our customers to meet the needs of their business as we move forward into a new era for our company.”