Agreement between PPG and Nippon Electric Glass for Sale of Remaining Fiberglass Operations
May 29 2017
PPG has reached a definitive agreement to sell its remaining fiberglass operations to Nippon Electric Glass Co. Ltd. The transaction is expected to close in the second half of 2017, subject to customary closing conditions. Pre-tax proceeds from the sale are approximately $545 million, and are subject to customary closing adjustments.
PPG’s remaining fiberglass operations include manufacturing facilities in Chester, South Carolina, and Lexington and Shelby, North Carolina; and administrative and research-and-development operations in Shelby and in Harmar, Pennsylvania, near Pittsburgh.
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