20 June 2016
DETAILS
today announced that it has signed an agreement
for the sale of its European fiber glass operations
to glass manufacturer
Nippon Electric Glass Co. Ltd. (NEG).
The transaction is subject to
completion of employee consultation processes,
receipt of regulatory clearances
and other customary closing conditions.
PPG and NEG expect to close the transaction
in the second half of 2016.
Financial terms were not disclosed.
PPG employs approximately 550 people
in its European fiber glass operations,
which include manufacturing facilities in
* Hoogezand, Netherlands, and
* Wigan, England, and
a research-and-development facility in Hoogezand.
In 2015, sales for PPG’s European fiber glass operations
were approximately $150 million.
Upon completion of the transaction, PPG will continue
to support the manufacturing operations
with certain services, including
bushing fabrication and engineering support.
PPG’s European fiber glass business manufactures
reinforcement materials for thermoset
and thermoplastic composite applications.
It serves the transportation, energy, infrastructure
and consumer markets.
READ MORE FROM NIPPON ELECTRIC GLASS
PPG Media Contact:
Mark Silvey
Corporate Communications
+1 412-434-3046
silvey@ppg.com
PPG Investor Contact:
Scott Minder
Investor Relations
+1 412-434-3466
sminder@ppg.com
www.ppg.com/investor
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