PPG to divest interest in automotive glass business
Published: Tuesday, 01 March 2016
While the company is moving away from automotive glass with the sale of its stake in Pittsburgh Glass Works, PPG is streamlining its remaining glass business and will focus on the development of fibre and flat glass products to the residential and non-residential sectors.
Pittsburgh, US-based PPG Industries is
to divest its 40% interest in Pittsburgh Glass Works LLC (PGW)
to automotive parts supplier LKQ Corp.
Jointly owned by PPG and Kohlberg & Co. LLC, the
interest is to be purchased by LKQ for $635m in a transaction
expected to close in...