PPG Divesting from PFG Fiber Glass Joint Ventures

September 23, 2016

1 Min Read
PPG Divesting from PFG Fiber Glass Joint Ventures

PPG Industries is turning over its ownership interests in two PFG Fiber Glass joint ventures to Nan Ya Plastics Corp., the Pittsburgh, PA-based company announced Thursday. Previously, PPG owned 50% of PFG, while Nan Ya held the remaining half.

Financial terms of the transaction were not revealed. PPG said it expects the divestment to complete by the end of the year.

The two companies formed the joint venture in 1987 with the establishment of a production facility in Chia Yi, Taiwan. A second facility was opened in Kunshan, China in 2001 to cater to growing demand.

PFG is a supplier of electronic yarn fibers that are used in fiber glass reinforcement products for the automotive industry and as part of electronic circuit boards.

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