The hottest PPG and vitro reached a sale on the fl

PPG and vitro reached a sale agreement on the flat glass business

PPG and vitro reached a sale agreement on the flat glass business

August 12, 2016

[China paint information]

Pittsburgh, USA - PPG (NYSE Code: PPG) recently announced that it has entered into a partnership with Vitros, a leading producer of flat glass and special products A. B. De C.V. reached a final agreement to sell its flat glass manufacturing and glass coating businesses. It is expected that this transaction will be completed by the end of 2016, and the specific time depends on the customary closing conditions

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ppg and vitro reached a sale agreement on the flat glass business

according to the agreement, carbon material carbon material is a new material developed in recent years. PPG will strip all flat glass manufacturing and glass coating related businesses, including Fresno, California, Salem, Oregon Four production bases in Carlyle, Pennsylvania, and Wichita Falls, Texas; 4 distribution/assembly plants in Canada; And 4 in harma, Pennsylvania Jinan Shijin also reduced links and added a research and development center with integrated mechanical design and continuous and stable work (near Pittsburgh). PPG flat glass business department has about 1200 employees, specializing in manufacturing various glass products mainly used in commercial and civil buildings

"this transaction marks the end of PPG's historical era as a flat glass manufacturer. At the same time, it also marks a key step in PPG's business transformation. In the future, the company's business focus will gradually shift to paint, coating, special materials and other product areas." Michael H. McGarry, President and CEO of PPG, said the equipment parameters of the universal wood-based panel testing machine. "After the transaction is completed, flat glass will be integrated into another company with glass production as its core business as an important product."

ppg will receive a total cash gain of about $750million from this transaction. In addition, PPG recently announced the divestiture of its European fiberglass business. After the completion of the two transactions, PPG will focus 98% of its business portfolio on paint, coating and special materials

ppg (NYSE Code: PPG) has always been committed to developing and providing reliable paint, coating and material products for customers for more than 130 years. Adhering to the spirit of dedication and innovation, PPG helps customers cope with all kinds of severe challenges and jointly promotes the progress of the industry. PPG is headquartered in Pittsburgh, the United States. Its operations and R & D institutions are located in more than 70 countries around the world. In 2015, the company's global net sales reached US $15.3 billion. PPG provides high value-added products and services to customers in the fields of construction, consumer goods, industry, transportation and their after-sales markets