An era in the development history of the hottest P

2022-08-06
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An era in the development history of PPG company has come to an end

an era in the development history of PPG company has come to an end

june 5, 2017

[China paint information]

American PPG industry company announced on May 26 that it plans to sell its remaining glass fiber assets to its Japanese subsidiary, with an estimated transaction value of US $545million, and will complete the transaction in the second half of 2017

according to the transaction announced this time, the businesses to be sold include PPG's production facilities in Chester, South Carolina, Lexington, North Carolina and Shelby, as well as Shelby's administrative equipment operation Department. In 2016, it employed more than 1000 employees, with an annual sales volume of $350million

McGarry, chairman of the board of directors and CEO of the company, said: "looking ahead, we will continue to focus on increasing the business of paint, coating and special materials. I would like to personally thank the employees of the glass fiber business department for their contributions and professional support to PPG over the years."

according to the company's financial report in 2016, the total revenue of its glass business unit in that year was US $480million, accounting for about 3% of the company's total annual sales, and the total number of employees was about 1100. It was specifically pointed out in the report that after a number of divestitures, its North American glass fiber business was the only business of the company's glass business unit. This divestiture means the end of an era in the development history of PPG

in recent years, the coating industry has paid great attention to PPG. 1. It has good comprehensive performance, high impact strength, chemical stability and electrical performance; The company ranking first in the global coating industry has been familiar with, but some people may not know the English meaning of PPG - Pittsburgh flat glass company. Yes, PPG started from the production of glass, and until 2008, the sales of the company's glass business unit still had $1.91 billion, accounting for more than 12% of the company's total sales in that year

PPG Industrial Company was founded in 1883. At that time, Capt. John Ford and John Pitcairn established the first large-scale flat glass factory in the American commercial field in Creighton, Pennsylvania, and named it Pittsburgh Flat Glass Co., Ltd

during the first decade after the establishment of the company, flat glass production expanded rapidly through new facilities and acquisitions. In 1899, the company established an alkali chemical plant in Barberton, Ohio, to provide raw materials for glass manufacturing, which also became the predecessor of PPG chemical business. One year later, PPG began to enter the coating business through the acquisition of Patton coatings, Wisconsin

in the 1920s, PPG became one of the first American companies to expand their business in Europe and acquired a glass factory in Belgium. With the expansion of the automobile industry and the construction of skyscrapers, the glass and paint business in the 1920s has been developing continuously

in the 1920s, the automotive industry began to use more glass, while PPG innovated the manufacturing method of flat glass by using the conveyor belt process of linear conveyor. In the 1930s, PPG launched Solex heat absorbing glass and introduced herculite tempered glass, which is several times stronger than ordinary flat glass and more resistant to crushing. In the 1940s, a year before the Pearl Harbor attack, PPG developed laminated aircraft glass

during World War II, the company transformed most of its production into materials for military purposes, and began to develop synthetic resins as needed, and then began to produce plastics, high-performance coatings and industrial coatings. In the early 1940s, PPG entered the field of optical product business by introducing CR-39 optical monomer. In the 1950s, the company began to produce fiberglass for circuit boards. In 1952, PPG established its glass fiber business and began to recognize the potential of another kind of glass products through the steps of replacing printing paper rolls

in the 1960s, PPG invented electrophoretic coating technology, and its business became more diversified. Some foreign production and operation and 2 Universal tensile strength tester for steel wire rope is the movement speed of the beam normal strategic planning to make the company move towards globalization. Therefore, Pittsburgh glass company changed its name to ppgindustries to reflect its diversification

in 2008, PPG sold its automotive glass and service business, but still held a 40% stake in the Pittsburgh glass factory (PGW). In february2016, PPG announced to sell the remaining equity held by its Pittsburgh glass factory to lkq, completing its exit from the automotive glass business

in 2016, PPG also sold its flat glass and glass coating business to C.V., a Mexican glass manufacturer, with about US $750million in cash. In the same year, PPG also sold its European glass fiber business and got away from two Asian (including Chinese) glass fiber joint ventures

after the sale of the U.S. glass fiber business, the business unit of glass may completely withdraw from the structure of PPG's main business unit, and the enterprise named "Pittsburgh flat glass company" will basically no longer be related to glass in terms of business

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