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PPG sells glass business
to Mexican Vitro Corp.
Recently, PPG said it will sell its flat glass manufacturing and glass coating businesses to Mexican glass manufacturer Vitro S.
A.
B.
deC.
V.
。 The transaction is expected to close
by the end of 2016.
Under the agreement, PPG will divest its entire flat glass manufacturing and glass coatings business, including facilities in Fresno, California, Salem, Oregon, Carlisle, Pennsylvania, Wichita Falls, Texas, and four distribution/manufacturing facilities across Canada, as well as a technology research and development center
in Pennsylvania.
PPG's flat glass business employs approximately 1,200 people and manufactures glass products primarily for commercial and residential buildings
.
"For PPG as a flat glass manufacturer, this transaction marks the end of a historical era and another important step in
our transformation to focus on paints, coatings and specialty materials.
Michael H.
McGarry, President and Chief Executive Officer of PPG, said, "Upon completion of this transaction, the flat glass business will be part of
the company's focus on growing its core glass business.
"
With the completion of this transaction and the company's recent announcement of a sale of its European fiberglass business, PPG Industries is gradually divesting its traditional glass production business and will focus 98% of its business on paints, coatings and specialty materials production
.
