PPG to sell fibre glass operations to Nippon Electric

By Kasia Patel
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...

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