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  "documentTitle": "PPG Industries, Inc. (PPG)",
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      "text": "While PPG has built one of the largest coatings companies in the world, in part through M&A, the current portfolio is comprised of at least 12 underlying businesses with disparate market dynamics. We believe there are virtually no synergies between Architectural and Industrial coatings",
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      "text": "Synergy Type, Level of Synergies, Commentary. Engineering/R&D, Minimal, Limited technology overlap... Procurement, Some, Some procurement synergies... Distribution, None, No shared distribution... Customers/Cross Selling, None, Paint stores... Marketing/Advertising, None, Distinct brands... Administrative Overhead, Some, Ability to leverage...",
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