PPG Fiber Glass sells interest in PPG-Devold joint venture

The Cheswick, Pa.-based reinforcements supplier's 50 percent share in the Shelby, N.C.-based joint venture, a glass fiber weaving operation that serves the wind energy industry, goes to Hexagon Devold (Langevåg, Norway).

PPG Fiber Glass (Cheswick, Pa.) has sold its 50 percent interest in PPG-Devold LLC (Shelby, N.C.) to Hexagon Devold (Langevåg, Norway), a wholly owned subsidiary of Hexagon Composites (Alesund, Norway).The May 7 announcement noted that the 50/50 joint venture was created in 2007 to manufacture glass fiber reinforcement fabrics for use in wind turbine blades in the wind energy industry.

PPG Fiber Glass says it intends to continue to manufacture fiberglassmaterials for the wind energy industry, and Hexagon Devold (formerly Devold AMT) will continue to manufacture multiaxial and unidirectional reinforcement fabrics in the U.S. at PPG’s Shelby, N.C., fiberglass facility.

“PPG is a key supplier to many independent weavers and fabric manufacturers for wind turbines, including Hexagon Devold, and we look forward to continuing that relationship with them,” said Kevin McDonald, PPG general manager, U.S., Canada and EMEA (Europe, Middle East and Africa) fiber glass reinforcement.

PPG Fiber Glass is a global manufacturer of reinforcement materials for thermoset and thermoplastic composite applications with manufacturing and research facilities in the U.S., Europe and Asia. It serves the transportation, energy, infrastructure and consumer markets, as well as electronic circuit board and specialty yarn markets. For more information, visit www.ppgfiberglass.com.

Founded in 1883, parent company PPG Industries' (Pittsburgh, Pa.) is a leading coatings and specialty products company. The company operates in nearly 70 countries around the world. Sales in 2012 were $15.2 billion. PPG shares are traded on the New York Stock Exchange (symbol:PPG). For more information, visit www.ppg.com.

600450 PPG Fiber Glass sells interest in PPG-Devold joint venture glassonweb.com
Date: 20 May 2013
Source: PPG Industries

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