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PPG hopes to sell its automotive glass business this year

Post Time:Jun 17,2008Classify:Company NewsView:279

Pittsburgh-based PPG Industries Inc. is again trying to sell its automotive glass business.

PPG announced in September that it was selling the businesses to Beverly Hills, Calif.-based Platinum Equity. But Platinum´s affiliates terminated that $500 million deal.

They have since sued PPG in New York State Supreme Court claiming they don´t owe the company a $25 million termination fee.

PPG´s auto glass businesses supply windshields and windows to automakers and replacement auto glass for the aftermarket.

The businesses have 4,400 employees at plants and centres in Creighton, Tipton and Meadville in Pennsylvania, as well as Berea, Ky.; Crestline, Ohio; Evansville, Ind.; Evart, Mich.; Fort Myers, Fla.; Paducah, Ky.; and Hawkesbury and Oshawa, Ontario

Source: PPG Industries, Inc.Author: admin

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