PPG today announced that it has reached an agreement to divest its 50 percent ownership interests in its two PFG Fiber Glass joint ventures (PFG) to Nan Ya Plastics Corp., which currently controls the other 50 percent ownership interest in the joint ventures.
Nan Ya is affiliated with Taiwan-based Formosa Plastics Group. The transaction is expected to close by the end of 2016. Financial terms were not disclosed.
PFG was formed as an equally-held joint venture between PPG and Nan Ya in 1987, with a single production facility in Chia Yi, Taiwan. To meet growing demand, a second joint venture was formed to add a production facility in Kunshan, China in 2001.
PFG supplies electronic yarn fibers used in integrated electronic circuit boards and fiber glass reinforcement products for automotive applications.
Source: PPG
A British company is today launching a household cleaner which destroys the SARS-CoV-2 virus – which causes COVID-19 – in just 60 seconds. Cert. is manufactured by Hydrachem, which has […]
The European Commission presented today its 2030 climate target plan, in which it sets out a program to reduce EU greenhouse gas (GHG) emissions by at least 55% by 2030, […]
Dow has agreed to sell three of its chemical storage terminals on the US Gulf Coast for $620 million to a joint venture (JV) between Vopak (Rotterdam, Netherlands) and investment […]
