 "Glass")
PPG Industries has reached a definitive agreement to sell its remaining fiberglass operations to Nippon Electric Glass Co Ltd (NEG), a leading manufacturer of fiberglass, for approximately $545 million. The transaction is expected to close in the second half of 2017, subject to customary closing conditions.
PPG’s remaining fiberglass operations include manufacturing facilities in Chester (South Carolina) and Lexington & Shelby (North Carolina); and administrative and research-and-development operations in Shelby and in Harmar (Pennsylvania, near Pittsburgh). The business, which employs more than 1,000 people and had net sales of approximately $ 350 million in 2016, supplies the transportation, energy, infrastructure and
