Vitro Approves Acquisition Of Ppg Usa

Vitro has approved the acquisition of PPG's flat glass business for US$ 775m. The Mexican glassmaker said its shareholders had agreed to the proposal at an Ordinary Shareholders meeting. The transaction includes four manufacturing plants with a total of five furnaces in the US, a research and development centre for flat glass and four distribution and fabrication facilities in Canada. The financing for an amount of US$ 500m to fund a portion of the transaction costs was also approved.