PPG, Devold Sign Agreement for North American Joint Venture

PPG Industries and Devold AMT AS signed an agreement here forming a 50-50 joint venture to manufacture glass-fiber reinforcement fabrics used in turbine blades for the North American wind energy market.

The parties had previously announced their intention to form a joint venture.

The multiaxial and unidirectional fabrics are major components in wind turbine blades. PPG fiber glass is also used in the manufacture of various marine, construction and consumer products.

The new venture, PPG-Devold, leverages PPG’s infrastructure and position in the United States and Devold’s investment in stitched reinforcement technology, according to Victoria M. Holt, PPG senior vice president, glass and fiber glass. The joint venture will include construction of stitched reinforcement fiber glass production lines and generate new jobs at PPG’s wholly-owned fiber glass plant here.

“This joint venture will strengthen PPG’s position as a major supplier of high-quality fiber glass products to the wind energy market, and it illustrates our commitment to serving wind energy leaders working to develop alternative energy sources,” Holt said. “It also shows how PPG is finding new ways to serve end-use markets and continue our leadership in the fiber glass industry.”

By establishing manufacturing in the United States, Devold AMT “takes an important step toward becoming a global supplier to the wind energy industry,” said Johan Fausa, managing director, Devold AMT. “Our partnership with PPG will strengthen our position to grow in both existing and new markets, especially the world’s fastest-growing market in the United States.”

Read the entire news on the source link below.

600450 PPG, Devold Sign Agreement for North American Joint Venture glassonweb.com

See more news about:

Others also read

PPG and PPG Foundation contribute $7.5 million for PPG Science Pavilion in Pittsburgh
New STEM education facility at Carnegie Science Center targeted to open in 2018.
PPG uses OPTICOR advanced transparency material for BLADE windows
PPG has designed and produced windows for the Breakthrough Laminar Aircraft Demonstrator in Europe (BLADE), a Clean Sky Smart Fixed Wing Aircraft Integrated Technology Demonstrator (SFWA ITD).
PPG to exit glass business by year's end
PPG reaches agreement with Nippon Electric Glass for sale of remaining fiberglass operations.
PPG, Vision Systems to develop aircraft window shading applications
PPG and Vision Systems have reached a commercial agreement to work together on developing new applications utilizing Vision Systems’ electronically dimmable window shading solutions for aircraft.
PPG to showcase specialty inks, performance glass coatings at DECO ’17
Annual conference for decorated glass and ceramics set for Pittsburgh, April 22-24.
Vitro Architectural Glass to build jumbo MSVD coater in Wichita Falls, Texas
$55 million investment to enable production of jumbo-sized energy-efficient glass

Add new comment