PPG Completes Sale of European Fiber Glass Operations to Nippon Electric Glass
PITTSBURGH--(BUSINESS WIRE)--
PPG (NYSE:PPG) today announced that it has completed the sale of its
European fiber glass operations to glass manufacturer Nippon Electric
Glass Co. Ltd. (NEG). Financial terms were not disclosed.
Manufacturing facilities in Hoogezand, Netherlands, and Wigan, England,
and a research-and-development facility in Hoogezand were included in
the transaction.
The European fiber glass operations manufacture reinforcement materials
for thermoset and thermoplastic composite applications. They serve the
transportation, energy, infrastructure and consumer markets.
PPG: WE PROTECT AND BEAUTIFY THE WORLD™
At PPG (NYSE:PPG), we work every day to develop and deliver the paints,
coatings and materials that our customers have trusted for more than 130
years. Through dedication and creativity, we solve our customers’
biggest challenges, collaborating closely to find the right path
forward. With headquarters in Pittsburgh, we operate and innovate in
more than 70 countries and reported net sales of $14.8 billion in 2015.
We serve customers in construction, consumer products, industrial and
transportation markets and aftermarkets. To learn more, visit www.ppg.com.
Forward-Looking Statements
Statements in this news release relating to matters that are not
historical facts are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 reflecting the
company’s current view with respect to future events or objectives and
financial or operational performance or results. The forward-looking
statements contained herein include statements relating to the expected
benefits of the NEG transaction. Actual events may differ materially
from current expectations and are subject to a number of risks and
uncertainties, including risks and uncertainties discussed in PPG
Industries’ periodic reports on Form 10-K and Form 10-Q and its current
reports on Form 8-K filed with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date of their initial
issuance, and PPG Industries does not undertake any obligation to update
or revise publicly any forward-looking statement, whether as a result of
new information, future events or otherwise.
We protect and beautify the world is a trademark and the PPG
Logo is a registered trademark of PPG Industries Ohio, Inc.
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PPG Media:
Mark Silvey, 412-434-3046
Corporate
Communications
silvey@ppg.com
or
PPG
Investor:
Scott Minder, 412-434-3466
Investor Relations
sminder@ppg.com
investor.ppg.com
Source: PPG