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PPG sells interest in PPG-Devold joint venture

7:36 AM MDT | May 8, 2013 | Deepti Ramesh

PPG Industries says its PPG Fiber Glass unit has sold its 50% interest in the PPG-Devold (Shelby, NC) fiber glass joint venture to the jv partner Hexagon Devold (Langevåg, Norway), a wholly owned subsidiary of Hexagon Composites (Ålesund, Norway). The 50-50 jv was established in 2007 to manufacture glass fiber reinforcement fabrics for use in turbine blades for wind energy. PPG will continue to manufacture fiber glass material for the wind energy industry, and Hexagon Devold will continue to manufacture multiaxial and unidirectional reinforcement...

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