Vitro Shareholders Approve acquisition of PPG’s Flat Glass and Coatings Business

Vitro Shareholders Approve acquisition of PPG’s Flat Glass and Coatings Business
Photo source
glassonweb.com
Vitro announced that the Company’s shareholders approved the acquisition of the assets of PPG’s Flat Glass Business for USD $755 million.

Vitro, S.A.B. de C.V., leading glass manufacturer in Mexico, announced that during  an Ordinary Shareholders Meeting held today, the Company’s shareholders approved the acquisition of the assets of PPG’s Flat Glass Business for USD $755 million.

This transaction includes 4 manufacturing plants with a total of 5 furnaces in the United States, a research and development center for Flat Glass and 4 distribution and fabrication facilities in Canada.

Also during the meeting the financing for an amount of US$500 million to fund a portion of the transaction costs was approved the balance will be funded with cash in hand available in the company.

With the approval of the PPG transaction our shareholders once again expressed their confidence in the direction Vitro is taking" said Adrian Sada Gonzalez, Chairman of the Board of Directors of Vitro.

"Acquiring PPG´s Flat Glass and glass coatings business represents a significant opportunity to reaffirm the leadership of Vitro in Mexico and Latin America, as well as consolidating its presence in one of the most important markets worldwide, the United States.

Adrian Sada Cueva, CEO of Vitro, commented: "The acquisition of PPG’s Flat Glass and Glass coatings Business will complement the skills of Vitro to further strengthen our business in the construction segment".

The transaction has been already approved by the Competition Bureau of Canada and by the US Federal Trade Commission. 

600450 Vitro Shareholders Approve acquisition of PPG’s Flat Glass and Coatings Business glassonweb.com

See more news about:

Others also read

The AIA Conference on Architecture Returns to New York City After 30 Years
AIA New York, the organization’s founding chapter, is proud to welcome thousands of member architects to New York City.
Vitro Architectural Glass to debut ACUITY low-iron glass, sample kit available for pre-order
New low-iron glass offers clarity, color fidelity upgrade over conventional clear glass.
Dow High Performance Building Inspires New Possibilities in Sustainable Construction
New DOWSIL™ brand to be featured at AIA Conference on Architecture.
Trosifol™ Launches Global Design Competition
Kuraray’s Trosifol™ business announces the launch of a global design competition for projects and structures that incorporate laminated glass.
Prof. Ulrich Sieberath (Director of ift Rosenheim) at the opening lecture of last year's Rosenheim Window & Facade Conference (Source: ift Rosenheim)
Unlimited opportunities for constructions, markets, technology.
Tvitec has been granted the Isolar Award 2018 for the sustainable glazing of its landmark project in Washington, DC.
Isolar Glas, one of the main European glass fabricator association has granted Tvitec System Glass the “Most Representative Project Award” for its performance on the glazing of 1100 15th Street Midtown Center.

From industry

Polígono Industrial El Bayo, parcela I, 19
24492 Cubillos del Sil León
Spain

NEWS RELATED PRODUCTS

Vitro Architectural Glass (Formerly PPG Glass)
Trex Commercial Products

Add new comment