PPG Industries Inc announced it has completed the sale of its flat glass manufacturing and glass coatings operations to Vitro S.A.B. de C.V., a producer of flat glass and specialty products based in San Pedro Garza García, Mexico, for about US$ 750 million.
The sale includes PPG’s entire flat glass manufacturing and glass coatings operations, including production sites located in Fresno, California as well as in Salem, Oregon; Carlisle, Pennsylvania; and Wichita Falls, Texas; four distribution/fabrication facilities located across Canada; and a research-and-development center located in Harmar, Pennsylvania, near Pittsburgh.
The business manufactures glass that is fabricated into products used primarily in commercial and residential construction.
With the sale, the only “glass” still part (derived from its original name, Pittsburgh Plate Glass Company) is fiber glass, according to a company spokesman. Approximately 98 percent of PPG’s business portfolio is focused on paints, coatings and specialty materials, he says.
“The company’s Flat Glass Division has become a key business for Vitro, and this investment will allow us to strengthen it by offering a wider set of solutions to our customers,” says Adrian Sada, chief executive officer of Vitro. “Through this investment, we will create value for our shareholders and our new flat glass business will reassert its standing as the leader in the commercial glass segment in North America.”