PITTSBURGH – PPG Industries says it has reached a definitive agreement to sell substantially all the assets of its Mt. Zion, Ill., glass manufacturing facility to automotive glass manufacturer Fuyao Glass America Inc. The sale is expected to close in the third quarter 2014, subject to customary closing conditions. Financial terms were not disclosed.
The Mt. Zion facility currently manufactures glass for use in residential and commercial construction markets. Fuyao plans to rebuild and retrofit the facility’s two production lines to manufacture automotive glass. PPG will continue to operate the plant for up to one year, producing SUNGATE coated glass and clear glass. The production for these products will eventually be shifted to PPG’s other North American float glass manufacturing sites.
PPG says the sale of the Mt. Zion facility is consistent with the strategic initiative by PPG’s flat glass business to focus on its higher-technology, coated glass capabilities for residential and commercial construction application.
