PPG Divests Automotive Glass and Fine Chemicals Businesses

Investment firm Platinum Equity (Los Angeles) has agreed to acquire PPG Industries’ automotive OEM and replacement glass businesses for approximately $500 million. The acquired businesses have combined sales of about $1 billion/year and include manufacturing plants at Berea, KY; Creighton, Meadville and Tipton, PA; Crestline, OH; Evansville, IN; Evart, MI; and Hawkesbury and Oshawa, ONT. The businesses also operate nine satellite parts assembly plants, and two service centers in the U.S. Combined, the businesses employ approximately 4,400 people. The deal...

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