PPG To Divest Ownership Stakes In PFG Fiber Glass Joint Ventures - Quick Facts


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(RTTNews.com) - PPG Industries, Inc. ( PPG ) said it has reached a deal to divest its 50 percent ownership interests in its two PFG Fiber Glass joint ventures, or PFG, to Nan Ya Plastics Corp., which currently controls the remaining 50 percent ownership interest in the joint ventures. Financial terms were not disclosed.

Nan Ya is affiliated with Taiwan-based Formosa Plastics Group. The transaction is expected to close by the end of 2016.

PFG was formed as an equally-held joint venture between PPG and Nan Ya in 1987, with a single production facility in Chia Yi
, Taiwan. To meet growing demand, a second joint venture was formed to add a production facility in Kunshan, China in 2001.

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Referenced Symbols: 1303 , ALMG , ALMG , PPG

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