LKQ Corporation’s sale of PGW’s OEM glass manufacturing business to Vitro, S.A.B has been completed for the agreed price of $310 million.
“This divestiture, and the retention of the PGW aftermarket glass distribution business, reflects LKQ’s ongoing commitment to being a one-stop-shop solution to the collision repair industry in North America,” said Robert L. Wagman, president and CEO of LKQ Corporation.
The companies have also entered into an agreement that Vitro will supply LKQ with automotive glass for its aftermarket glass distribution business for an unspecified number of years. Vitro, which also purchased PPG’s glass business in October, stated its plans to combine its research and development operations with PGW, a move that will bring the merged team of engineers and scientists to the Vitro Glass Technology Center in Pennsylvania.
“The experience and state-of-the-art technology PGW brings to our business will enhance our technical, research and development capabilities. It will further strengthen our company and create a business staffed by talented employees and strategically positioned for growth,” said Adrian Sada Cueva, CEO of Vitro.