PPG Industries has announced that it has reached a definitive agreement to sell substantially all the assets of its Mt. Zion, Ill., glass manufacturing facility to automotive glass manufacturer Fuyao Glass America Inc. The sale is expected to close in the third quarter of 2014, subject to customary closing conditions. Financial terms were not disclosed.
The multi-billion-dollar glass factory on the outskirts of the small village of Tses near Keetmanshoop, Namibia, has been launched. The construction of the more than $700 million (U.S.) factory (N $7 billion), the first of its kind in Namibia, will start at the beginning of October and is expected to be completed in November next year. Tses Glass (Pty) Ltd is a Namibian company which aims to become the world’s largest and most dynamic glass manufacturing plant for all glass products for residential and commercial purposes like touch-screen devices, automobiles, industrial usage and glass bottles. Tses Glass has appointed and signed up with German-based Heye International to facilitate the construction of the envisioned Tses Glass Factory.
Production at O-I’s plant in Muskogee County, Oklahoma, has been halted due to a fire caused by a glass leak from a furnace used to melt raw materials.