Mexico-based Vitro has acquired Pittsburgh Glass Works’ (PGW) automotive original equipment manufacturer (OEM) glass business from LKQ Corporation.
The acquisition completes the agreement announced last December for US$310m, free of cash and debt, subject to last minute adjustments, typical for these types of transactions.
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Pittsburgh-based PGW operates seven manufacturing plants, two satellite factories and two float glass furnaces in the US.
It also has a manufacturing plant in Poland and owns equity participation in two joint ventures, one each in Mexico and China.
The acquisition, combined with the purchase of PPG’s former flat glass business completed last October, expands Vitro’s float glass manufacturing and fabrication facilities. The supplier said the transaction “solidifies the company’s position as the leading glass manufacturer in North America”.
CEO Adrian Sada Cueva said the addition of PGW’s OEM business would enable it to serve a greater number of customers in the automotive glass business and increase its global coverage.
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By GlobalData“The experience and technology PGW brings to our business will enhance our technical, research and development capabilities,” he said.
The combined automotive glass business will also combine research and development capabilities with Vitro Architectural Glass, PPG’s former flat glass business unit. Staff will work primarily at the Vitro Glass Technology Centre in Harmar Township, Pennsylvania, near Pittsburgh.
