PPG to sell European fiberglass business

PPG Industries Inc. has sold its European fiberglass operations to a Japanese glass company, underscoring the Pittsburgh-based manufacturer's shift away from its historical roots as it concentrates on its coatings business.

PPG did not disclose the price of the deal with Nippon Electric Glass Co. The business, which employs 550 people and has facilities in the Netherlands and England, had sales of $150 million last year.

“As part of NEG, these European fiberglass operations will continue to provide innovative solutions in this industry,” Victor Sekmakas, PPG executive vice president, said in a written statement.

The unit makes materials used in the transportation, energy, infrastructure and consumer markets. PPG has other fiberglass operations in the U.S. and the Asia Pacific region that are not affected by the sale, PPG spokesman Mark Silvey said.

Glass products were once a pillar of sales for Downtown-based PPG, which was founded in 1883 as Pittsburgh Plate Glass. But they have become less important for PPG as the company focuses on its coatings business, which accounts for 93 percent of its $15.3 billion in annual sales.

The company has sold other glass-related businesses while acquiring coatings companies. In February, PPG announced the sale of North Shore-based Pittsburgh Glass Works to Chicago auto parts manufacturer LKQ Corp. And two weeks ago, it said it was acquiring Ohio-based MetoKote Corp., which applies coatings to components for automakers.

PPG said it will use the proceeds from the sale of its European fiberglass operations for general corporate purposes, though did not offer specifics.

Chris Fleisher is a Tribune-Review staff writer.