Pilkington to Acquire Autostock Distribution US Automotive Aftermarket Glazing Network

On 15th July, 2005, Pilkington announced that it has entered into an agreement to acquire the US assets of Autostock Distribution, with an asset value of around $US 18 million.

Autostock Distribution is a glass distributor with 21 locations in the United States. In addition to distributing automotive replacement glass for all makes and models of domestic and foreign vehicles, it supplies a wide range of automotive aftermarket accessory products.

This acquisition will further strengthen Pilkington as the market leader in the distribution and wholesale automotive glazing aftermarket in North America. Today, Pilkington, through its automotive glass replacement business, distributes parts for virtually every vehicle type in the North American market.

Pilkington Group Chief Executive Stuart Chambers said "This acquisition is another step in our transition to Stage 3 of our three-stage 'Cash for Growth' strategy - identifying opportunities for profitable growth in our existing businesses."

600450 Pilkington to Acquire Autostock Distribution US Automotive Aftermarket Glazing Network glassonweb.com
Date: 25 July 2005
Source: pilkington.com

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