Vitro Finalizes PPG Flat Glass AcquisitionOctober 3rd, 2016 by Editor
Vitro, the leading glass manufacturer in Mexico, has successfully concluded the acquisition of PPG’s flat glass business, a $750 million deal that was initially announced in July.
The transaction was approved by the governing bodies of both companies and by the relevant regulatory authorities in the United States and Canada. The business includes four manufacturing plants with a total of five flat glass furnaces in the U.S. and Canada; a research and development center in Harmar Township, Pa.; and four distribution and fabrication facilities in Canada.
The company also announced the expansion of its coating production capability with the construction of a jumbo MSVD glass coater, which will be built at an existing location of the newly acquired business. MSVD coaters are used to produce high-performing, energy-efficient low-emissivity (low-e) glass.
The coater will be capable of coating jumbo sizes, and the company says it could be the largest of its kind in North America.
“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,” said Vitro CEO Adrian Sada Cueva. “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.”