OK
The Universal Selection Source:
Coatings Ingredients
Industry News

PPG to Sell its Glass Coatings & Flat Glass Manufacturing Operations to Vitro

Published on 2016-07-22. Author : SpecialChem

PITTSBURGH -- PPG has reached a definitive agreement to sell the assets of its flat glass manufacturing and glass coatings operations to Vitro S.A.B. de C.V., a leading producer of flat glass and specialty products. The transaction is expected to close by the end of 2016, subject to customary closing conditions.


Focusing on Paints, Coatings and Specialty Materials

PPG
PPG

Under the terms of the agreement, PPG will divest its entire flat glass manufacturing and glass coatings operations, including production sites located in Fresno, California; Salem, Oregon; Carlisle, Pennsylvania; and Wichita Falls, Texas; four distribution/fabrication facilities located across Canada; and a research-and-development center located in Harmar, Pennsylvania, near Pittsburgh. PPG’s flat glass business includes approximately 1,200 employees. The business manufactures glass that is fabricated into products used primarily in commercial and residential construction.

“This transaction represents the end of an historic era for PPG as a manufacturer of flat glass, and it is another major step in our portfolio transformation to focus on paints, coatings and specialty materials,” said Michael H. McGarry, PPG president and chief executive officer. “Upon completion of this transaction, the flat glass operations will become part of a company that is focused on growing its core glass business.”

PPG will receive approximately $750 million in gross cash proceeds. Upon completion of this transaction and PPG’s recently announced transaction to divest its European fiber glass operations, approximately 98 percent of PPG’s business portfolio will be focused on paints, coatings and specialty materials.

About PPG

PPG  works every day to develop and deliver the paints, coatings and materials that its customers have trusted for more than 130 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, it operates and innovates in more than 70 countries and reported net sales of $15.3 billion in 2015. It serves customers in construction, consumer products, industrial and transportation markets and aftermarkets.


Source: PPG

PS: If you liked this News, you might enjoy our Coatings Industry Newsletter. All the Industry News delivered twice a week right to your inbox. Sign up here!


Halcyon Group 3rd R&D Innovation Summit
Channel Alerts

Receive weekly digests on hot topics

Back to Top