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7th September 2017, Pittsburgh, PA

PPG completes sale of fiberglass operations

NEG has acquired PPG’s manufacturing facilities in Chester, SC, and Lexington and Shelby, NC. PPG, a leading coatings company, has completed the sale of its remaining fiberglass operations to Nippon Electric Glass (NEG), a leading manufacturer of fiberglass. Pre-tax proceeds from the sale were around US$ 541 million, subject to customary post-closing adjustments.

NEG has acquired PPG’s manufacturing facilities in Chester, SC, and Lexington and Shelby, NC; and R&D and administrative operations in Shelby and in Harmar, PA, near Pittsburgh. The business, which employs more than 1,000 people and had net sales of around US$ 350 million in 2016, supplies the transportation, energy, infrastructure and consumer markets.

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