09.05.17
PPG on Tuesday said it completed the approximately $541 million sale of its remaining fiberglass operations to Nippon Electric Glass Co. Ltd. (NEG).
NEG acquired PPG's manufacturing facilities in Chester, S.C. and Lexington and Shelby, N.C.; and research-and-development and administrative operations in Harmar, Pa. and Shelby.
Per PPG, NEG employs more than 1,000 people and had net sales of approximately $350 million in 2016.
In 2016, PPG completed the sale of its European fiberglass operations to NEG and divested its ownership interests in two Asian fiberglass joint ventures. PPG also completed the sale of its North American flat glass business in 2016.
With the sale of this remaining piece of its Glass reportable segment, PPG is now comprised of two coatings-focused reportable business segments: Industrial Coatings and Performance Coatings.
NEG acquired PPG's manufacturing facilities in Chester, S.C. and Lexington and Shelby, N.C.; and research-and-development and administrative operations in Harmar, Pa. and Shelby.
Per PPG, NEG employs more than 1,000 people and had net sales of approximately $350 million in 2016.
In 2016, PPG completed the sale of its European fiberglass operations to NEG and divested its ownership interests in two Asian fiberglass joint ventures. PPG also completed the sale of its North American flat glass business in 2016.
With the sale of this remaining piece of its Glass reportable segment, PPG is now comprised of two coatings-focused reportable business segments: Industrial Coatings and Performance Coatings.
