PPG to sell fibre glass operations to Nippon Electric
Published: Wednesday, 22 June 2016
The US-based paints and coatings manufacturer produces fibre glass at eight facilities worldwide including the US and China, but is planning to sell off its European operations in the Netherlands and the UK. Overall glass sales declined in Q1, while demand for fibre glass specifically grew in the US, offsetting continued weakness in Europe.
Pittsburgh, US-based paint and speciality materials supplier
PPG Industries has signed an agreement with Nippon Electric
Glass Co. Ltd for the sale of its European fibre glass
operations for an undisclosed amount. Subject to
conditions, the transaction is expected to close in the second
half of 2016.PPG's European fibre glass operations...