June 22, 2017 | Announcements

GCA Advises Nippon Electric Glass Co., Ltd. on Its Acquisitions of PPG Industries, Inc.’s US and European Fiberglass Operations

We are pleased to announce that our client, Nippon Electric Glass Co., Ltd. (TSE: 5214), a manufacturer of specialty glass products headquartered in Otsu, Japan, has entered into a definitive agreement to acquire the US fiberglass operations of PPG Industries, Inc. (NYSE: PPG) for $545 million.

This follows Nippon Electric Glass’ acquisition of PPG’s European fiberglass operations in October 2016, on which GCA also advised.

Nippon Electric Glass is engaged in the manufacture and sale of specialty glass products. Its products include glass for flat panel displays, mobile devices, electronic devices, optical devices and glass fiber.

PPG’s US fiberglass operations primarily supply direct draw roving and chopped fibers to the transportation, energy and construction markets. PPG’s European fiberglass operations manufacture reinforcement materials for thermoset and thermoplastic composite applications in the transportation, energy, infrastructure and consumer markets.

This acquisition extends Nippon Electric Glass’ development capabilities for advanced composite materials and establishes its global supply base spanning across Japan, Malaysia, Europe, and the US.

The US transaction is subject to customary closing conditions and regulatory approvals and expected to close in Q3 2017.

GCA acted as exclusive financial advisor to Nippon Electric Glass in connection with these transactions.

This transaction is GCA’s 13th industrials and third Japan-US cross-border transaction since the start of 2017.

About GCA
GCA is a premier global investment bank serving a broad client base through a range of advisory services including mergers and acquisitions, debt and equity capital markets, private funds, restructuring, and asset management. GCA is a global advisor providing insightful advice and is focused on building long-term relationships based on trust. GCA delivers deep expertise in many key industries and has a particular focus in Technology, Software, Media, Digital Media, Communications, Industrials and Industrial Technology, Healthcare, Financial Institutions, FinTech and Business Services. GCA has teams of highly experienced bankers in San Francisco, New York, Tokyo, Frankfurt, London, Manchester, Milan, Mumbai, Munich, New Delhi, Osaka, Shanghai, Singapore, Tel Aviv and Zurich. For more information, visit gcaglobal.com.

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