Bold, calming blue-green hue represents consumers’ desire for stability in uncertain world

TORONTO–(BUSINESS WIRE)–As the outside world grapples with rising uncertainty, Canadians are yearning for increased serenity and stability inside their homes. This trend has spurred SICO™ paint brand by PPG to select Melt Water (6156-63) – a grounded, refreshing teal that combines the healing powers of water and nature with balance and tranquility – as its 2023 Colour of the Year.

Melt Water is a robust and refined bluish-greenish tone that intertwines bold blue and calming green to create a captivating colour symbolic of deep water. Its adaptable blue-jeweled hue sets a soothing, serene mood in spaces, while its emerald nuances evoke feelings of equilibrium. Paired together, these two undertones create an ultra-rich, uber-trendy colour that blends well with contemporary designs or adds a refined pop of colour to traditional decor.

“On the other side of the pandemic, people are looking for a mental reset and want to infuse their homes with invigorating colours that help give them a boost as well as refuge in today’s unpredictable world,” said Martin Fuchs, PPG senior marketing manager, Sico paint brand. “Melt Water accomplishes just that with its energizing yet grounding vibe. It’s symbolic of a newfound outlook and works exceptionally well in any space – both interior and exterior.”

To incorporate trending teal into the home, Sico paint brand offers these tips:

• Paint Melt Water on all four walls, paired with deeper-toned woods and off-white trim.
• For a more luxurious feel, Melt Water can go glam when accessorized with golden accents and bright white trim.
• Enjoy the understated elegance of a teal accent wall or serve up a statement by featuring Melt Water on kitchen cabinetry.
• Even the most modest spaces can benefit from the teal treatment. If short on square footage but big on style, use this rich hue as a bold contrast to a neutral palette, making a petite room feel plush.
• As an exterior, use a blue-green hue to punctuate a home’s personality, adding immediate curb appeal when featured on a front door.

Among the other popular 2023 colours unveiled by Sico paint brand are equally bold and soothing deep greenish-gray, forest green, muted terracotta and coppery brown hues. The brand’s Ancient Lava (6208-73), Boreal Forest (6167-83), Brown Tobacco (6189-52) and Faux Leather (6068-83) all pair beautifully with Melt Water.

All of Sico paint brand’s 2023 colours are one-coat paint colours available in recently introduced SICO PRESTIGE™ paint, which Fuchs described as one of the brand’s best paints ever. The breakthrough, ultra-resilient interior paint-plus-primer is designed to maximize colour and quality while minimizing the effort required to apply and maintain the paint. The palette is also available in one-coat protection Sico Super Premium Exterior paint.

To find Melt Water and the rest of the 2023 trends colours at a nearby store, visit sico.ca. Consumers can try out the new colours in advance on a photo of their own home by using Sico paint brand’s online Deco Colour Lab® and see the transformation in just a few clicks.

Since 1937, the Sico paint brand has provided Canadian do-it-yourself consumers with a complete line of high-quality interior and exterior paints. The brand is recognized as the market leader and can be found on the shelves of more than 1,300 retailers, including Rona, Lowe’s, Kent and other premium paint retailers.

PPG’s architectural coatings business in the U.S. and Canada is an industry leader in residential and commercial coatings, delivering the latest technologies and operational advancements through its strong portfolio of brands. It manufactures and sells interior and exterior paints, stains, caulks, repair products, adhesives and sealants for homeowners and professionals. Its distribution network includes more than 15,000 touchpoints through company-owned stores, independent dealer locations and major home improvement centers across the U.S. and Canada. For more information, visit www.ppgpaints.com.

PPG: WE PROTECT AND BEAUTIFY THE WORLD®

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for nearly 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 75 countries and reported net sales of $16.8 billion in 2021. We serve customers in construction, consumer products, industrial, and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.

Sico and Sico Prestige are trademarks of PPG Architectural Finishes, Inc.

CATEGORY Architectural Coatings Americas and Asia Pacific

Contacts

Kaitlyn Craig

PPG Architectural Coatings

1-412-377-7456

kcraig@ppg.com

Gail Bergman

GBPR

1-905-886-1340

gbergman@gailbergmanpr.com
www.sico.ca

SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Westphalia Dev. Corp. (the “Corporation”) announced today its results for the second quarter ended June 30, 2022. The Corporation was formed in March 2012, for the development of a 310-acre Westphalia property located in Prince George’s County, Maryland, United States.

Development and Sales

The key development and sales activities of the Corporation in the second quarter ending June 30, 2022, were:

• The re-planning of the Westphalia Town Center to reduce the retail and office scope to obtain more residential units is underway led by the Corporation. Collaboration with elected officials is taking place along with a revision of the Conceptual Site Plan and Preliminary Plan of the subdivision that will also involve submitting a Detailed Site Plan for a retail and mixed-use portion of the development.

• Major infrastructure development is continuing including roads, storm water and sewer utilities leading into and through the Master Plan using tax increment financing (“TIF”) which is fully funded and scheduled to be complete by Q4 2022/Q1 2023.

• A planning effort has been initiated aimed at revising the Preliminary Plat and Conceptual Development Plan that will take place throughout the remainder of this year and into 2023, ahead of closing on pending sales transactions with the developer of the proposed last mile distribution buildings.

• The Corporation is continuing to engage in discussions with numerous prospective builders, retail brokers and developers regarding the purchase of fully engineered lots with the goal to adhere to the business plan modification. Final commitments will be deferred until the plan has been advanced through the regulatory process and is closer to approval.

• The Westphalia Town Center re-planning is in process to incorporate more residential units alongside retail space to accommodate growth in the area. A cohesive mixed-use plan for the retail core of the Master Plan is underway to complement the planned industrial space in the westernmost parcels. Engineering plans began in Q2 2022, ahead of application submittals to regulatory and County agencies that will begin in the Q3 2022.

Financial Results

• Operating expenses for this quarter remained consistent with Q1 2022.

• In January 2022, the Corporation secured a US$3.6 million operating expense loan from its lender, WWMN, LLC. After the end of the first quarter 2022, the senior loan, including the January 2022 operating expense advance, was re-negotiated with WWMN, LLC, for an aggregate loan amount of US$44.5 million with a maturity date of June 30, 2023, with the option to extend an additional year.

The Corporation’s financial statements and management’s discussion and analysis for the second quarter ended June 30, 2022, are available under the Corporation’s SEDAR profile at www.sedar.com.

Additional Information

The Corporation is managed by Walton Global Investments Ltd. (“Walton Global”) and the development of the project is managed by Walton Development & Management (USA), Inc., both of which are members of the Walton group of companies (“Walton”).

Walton Global is a privately-owned, leading land asset management and global real estate investment company that concentrates on the research, acquisition, administration, planning, and development of land. With more than 43 years of experience, Walton has a proven track record of administering land investment projects within the fastest growing metropolitan areas in North America. The company manages and administers US$3.6 billion in assets on behalf of its global investors located in 73 countries, builders and developers and industry partners. Walton has more than 91,000 acres of land under ownership, management and administration in the United States and Canada with business lines ranging from exit-focused pre-development land investments, land financing programs and build-to-rent. For more information visit walton.com.

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This news release, required by Canadian laws, does not constitute an offer of securities, and is not for distribution or dissemination outside Canada. This news release contains forward looking information, and actual future results may differ from what is disclosed in this news release. Forward-looking information is based on the current expectations, estimates and projections of the Corporation at the time the statements are made. They involve a number of known and unknown risks and uncertainties which would cause actual results or events to differ materially from those presently anticipated. The risks, uncertainties and other factors that could cause the Corporation’s actual results and performance in future periods to differ materially from the forward looking information contained in this news release include, among other things, the development of Westphalia Town Center, general economic and market factors, including interest rates, a decline in the real estate market, changes in government policies and regulations or in tax laws, changes in municipal planning strategies and whether certain development approvals are obtained and changes in the Canadian/U.S. dollar exchange rate, in addition to those factors discussed or referenced in documents filed with Canadian securities regulatory authorities and available online at www.sedar.com.

Except as otherwise noted, all amounts are in Canadian dollars, and are based on unaudited condensed interim consolidated financial statements for the three months ended June 30, 2022, and related notes, prepared in accordance with International Financial Reporting Standards.

Contacts

MEDIA CONTACT:
Allison + Partners

waltonglobal@allisonpr.com