PPG Agrees to Sell Its European Fibreglass Operations
PPG’s European fibreglass business manufactures reinforcement materials for thermoset and thermoplastic composite applications. It serves the transportation, energy, infrastructure and consumer markets.
In 2015, sales for PPG’s European fibreglass operations were approximately $150 million. The company currently employs around 550 people in its manufacturing facilities in Hoogezand, Netherlands and Wigan, England.
The transaction is subject to completion of employee consultation processes, receipt of regulatory clearances and other customary closing conditions. PPG and NEG expect to close the transaction in the second half of 2016. Financial terms were not disclosed.