PPG has completed the sale of its float glass facility in Illinois to automotive glass manufacturer Fuyao Glass America, in a move that is consistent with the strategic initiative by PPG’s flat glass business to focus on its higher-technology, coated glass capabilities for residential and commercial construction applications.
PPG Industries has completed the sale of substantially all the assets of its Mount Zion, Illinois, glass manufacturing facility to automotive glass manufacturer Fuyao Glass America Inc. Financial terms were not disclosed.
Fuyao plans to rebuild and retrofit the facility’s two production lines to manufacture automotive glass. PPG will continue to operate the plant for up to one year, producing SUNGATE® coated glass and clear glass.
The sale of the Mount Zion facility is consistent with the strategic initiative by PPG’s flat glass business to focus on its higher-technology, coated glass capabilities for residential and commercial construction applications.
PPG’s flat glass business manufactures high-performing coated glass, tinted and clear float glass primarily for the residential and commercial segments of the construction industry, as well as other specialty glass markets. The Mount Zion facility was built in 1959 and converted for float glass production in 1978.
Fuyao Glass Industry Group Co. Ltd. is a leading international manufacturer of automotive and industrial glass located in the People’s Republic of China. The company has been listed on the Shanghai Stock Exchange since 1993. It employs more than 19,000 people in China, Hong Kong, America, Europe, Australia and Russia. Being the largest automotive glass supplier in China, FYG controls over 60% share of Chinese OEM market and over 30% share of Chinese replacement market. FYG’s main customers are GM, Ford, Honda, Isuzu, Toyota, Mazda, Audi, Volkswagen, Citroen and Mercedes, to name a few.
Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Reported net sales in 2013 were USD 15.1 billion. PPG shares are traded on the New York Stock Exchange.