Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

PPG Selling Minority Stake in Glass Works

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

PPG Selling Minority Stake in Glass Works

Article excerpt

A Chicago-based automotive parts and accessories company said Monday it will acquire Pittsburgh Glass Works, an automotive glass maker that is about 40 percent owned by PPG Industries.

LKQ Corp. put a $635 million price tag on the transaction, expected to be completed in the second quarter.

Pittsburgh Glass Works has annual revenue of $1.1 billion and operates 12 glass manufacturing plants that supply about 120 distribution centers. The company's headquarters are on Isabella Street on the North Shore. It has operations in North America, Europe and China.

Pittsburgh-based PPG divested Pittsburgh Glass Works in 2008, when it formed a joint venture with private equity fund operator Kohlberg & Company of Mount Kisco, N. …

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