PPG exits fiberglass business, sells it to Nippon Electric for $ 545 mn

In 2016, PPG completed the sale of its European fiberglass operations to NEG and divested its ownership interests in two Asian fiberglass joint ventures. PPG also completed the sale of its North American flat glass business in 2016.

“We are pleased that these operations will become part of NEG, a company that is focused on fiberglass as a core business. This transaction represents the end of PPG’s history as a manufacturer of fiberglass and is the final action in our disciplined, multiyear strategy to divest non-core businesses. Going forward, we will continue to focus on growing our paints, coatings and specialty materials businesses,” commented Michael McGarry, chairman and chief executive officer, PPG.