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Automotive Aftermarket Manufacturing

LKQ Corp. Finalizes Sale Of OEM Glass Manufacturing Business To Vitro S.A.B.

As part of the transaction, LKQ and Vitro entered into a multi-year supply agreement through which LKQ’s ongoing aftermarket glass distribution business will purchase a specified amount of its automotive glass from Vitro at specified prices.

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LKQ Corp. has announced that it has completed the previously announced agreement to sell the OEM glass manufacturing business of its Pittsburgh Glass Works subsidiary (PGW) to a subsidiary of Vitro S.A.B. de C.V., a glass manufacturer based in Mexico. The sale price was $310 million, subject to potential post-closing purchase price adjustments.

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As part of the transaction, LKQ and Vitro entered into a multi-year supply agreement through which LKQ’s ongoing aftermarket glass distribution business will purchase a specified amount of its automotive glass from Vitro at specified prices.

“This divestiture, and the retention of the PGW aftermarket glass distribution business, reflects LKQ’s ongoing commitment to being a one-stop-shop solution to the collision repair industry in North America,” said Robert Wagman, president and CEO of LKQ Corp.

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