Managing the Financial Side of Commercial Fleets

PPG Completes Divestiture of Auto Glass Business

October 03, 2008

PITTSBURGH– PPG Industries has completed the divestiture of its automotive glass and services business to a new company formed by funds managed by Kohlberg & Company, LLC, named Pittsburgh Glass Works LLC. PPG received approximately $270 million in net proceeds from the transaction, which included customary closing adjustments. In addition, PPG will hold a minority ownership interest of approximately 40 percent in Pittsburgh Glass Works LLC.

"Finalizing this transaction is an important milestone in PPG's strategy to focus its efforts on continuing to be a leader in coatings and specialty products and services," said Charles E. Bunch, PPG chairman and chief executive officer.

The automotive glass and services business supplies automotive OEM windshields, rear and side windows, sunroofs, and assemblies for auto and truck manufacturers, and it supplies and distributes replacement automotive glass products for use in the aftermarket. It also provides insurance claim services through its LYNX Services subsidiary, glass management software through its GTS subsidiary, and e-business solutions through its GLAXIS division.

The business manufactures and fabricates automotive glass products in nine North American plants located in Berea, Ky.; Creighton, Meadville, and Tipton, Pa.; Crestline, Ohio; Evansville, Ind.; Evart, Mich.; and Hawkesbury and Oshawa, Ont., Canada. In addition, there are nine satellite parts assembly plants, and LYNX Services claims management centers in Fort Myers, Fla., and Paducah, Ky. The business employs approximately 4,400 people.  

Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.


Fuel Management

Bernie Kanavagh from WEX will answer your questions and challenges

View All


Fleet Tracking And Telematics

Todd Ewing from Verizon Connect will answer your questions and challenges

View All


Fleet Management And Leasing

Jack Firriolo from Merchants will answer your questions and challenges

View All


Sponsored by

One of three founders and former chairman of Peterson, Howell & Heather (PHH), Duane Peterson's industry career spanned fleet's early years, 1946-1962

Read more

Up Next

More From The World's Largest Fleet Publisher