Nippon Electric Glass acquires PPG’s European fibre glass operations

Nippon Electric Glass acquires PPG glass fibre manufacturing and R&D in Hoogezand (Netherlands) and Wigan (UK)

Reinforcement materials for transportation, energy, infrastructure and consumer markets

On June 20, 2016 PPG and Nippon Electric Glass (NEG, TYO:5214) announced that Nippon Electric Glass will acquire PPG’s European fibre glass operations, subject to employee consultations, regulatory and other approvals. The acquisitions were completed on October 3, 2016.

PPG’s European Fibre glass operations employ approximately 550 people, and achieved about EURO 150 million in sales in 2015.

Nippon Electric Glass aims to expand its glass fibre business:

  1. by acquiring production facilities in Europe
  2. increasing the chopped glass fibre strands business
  3. adding new glass fibre product lines

Total assets: approx. € 90 million
Total annual revenues: approx. € 150 million

PPG Industries Fiber Glass B.V., Westerbroek / Hoogezand

Energieweg 3, 9608 Westerbroek, Netherlands

Main products: chopped strands for reinforced plastics
Main markets: composite materials for auto parts

New name after acquisition: Electric Glass Fiber NL BV
Location: Hoogezand, Netherlands
Capital: € 16 million
Established: April 28, 1961
Ownership: 100% Nippon Electric Glass Co Ltd.

PPG Industries (UK) Ltd

132 Leigh Road, Hindley Green, Wigan, Lancashire WN2 4XG, United Kingdom, United Kingdom

Main products: direct rovings for reinforced plastics
Main markets: blades for wind power generation, composite materials for auto parts
approximately 220 employees (plus temporary staff)

New name after acquisition: Electric Glass Fiber UK Ltd.
Capital: UKL 30 million
Established: July 8, 2016
Ownership: 100% Nippon Electric Glass Co Ltd.

Seller: PPG (Pittsburgh Plate Glass)

Pittsburgh Plate Glass (PPG) was founded in 1883 in Pittsburgh, Pennsylvania, and today operates about 156 factories globally and in 2015 achieved revenues of around US$ 15.3 billion.

Acquirer: Nippon Electric Glass KK (NEG)

Nippon Electric Glass KK (NEG) was established in 1944 with an investment from NEC Corporation and others, and separated from NEC, and was incorporated as an independent company in 1949.

Today NEG has about US$ 2.4 billion in annual revenues and produces about 20% of the global production of glass for liquid crystal displays, and other speciality glass products.

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