PPG Fiber Glass sells interest in PPG-Devold joint venture
Company will continue to supply wind energy industry
CHESWICK, Pa., May 7, 2013 – PPG Fiber Glass has sold its 50-percent interest in the PPG-Devold fiber glass joint venture to Hexagon Devold, a wholly-owned subsidiary of Hexagon Composites. The 50-50 joint venture was created in 2007 to manufacture glass fiber reinforcement fabrics for use in turbine blades for wind energy. PPG will continue to manufacture fiber glass material for the wind energy industry, and Hexagon Devold will continue to manufacture multiaxial and unidirectional reinforcement fabrics at PPG’s Shelby, N.C., fiber glass facility.
“PPG is a key supplier to many independent weavers and fabric manufacturers for wind turbines, including Hexagon Devold, and we look forward to continuing that relationship with them,” said Kevin McDonald, PPG general manager, U.S., Canada and EMEA (Europe, Middle East and Africa) fiber glass reinforcements.
PPG Fiber Glass is a global manufacturer of reinforcement materials for thermoset and thermoplastic composite applications with manufacturing and research facilities in the United States, Europe and Asia. It serves the transportation, energy, infrastructure and consumer markets, as well as electronic circuit board and specialty yarn markets. For more information, visit www.ppgfiberglass.com.
PPG: BRINGING INNOVATION TO THE SURFACE.(TM)
PPG Industries' vision is to continue to be the world’s leading coatings and specialty products company. Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Sales in 2012 were $15.2 billion. PPG shares are traded on the New York Stock Exchange (symbol:PPG). For more information, visit www.ppg.com.
Bringing innovation to the surface is a trademark of PPG Industries Ohio, Inc.
PPG Fiber Glass