Thursday, July 21, 2016

The Deal is Done- Quick Reaction

So PPG reached an agreement to sell their glass division to Vitro. The rumors that poked around for such a long time, surfaced publicly last Friday, all came true this morning.  I am honestly stunned.  Why?  Because anyone who has followed the industry has heard a rumor or two that PPG’s glass division would be sold.  Candidates from all over the globe were associated with it- but it never happened.  Until now.  It’s obviously going to be the end of an era.  PPG is a major name in the glass industry.  As the great John Wheaton asked on Twitter, what will the G stand for in their name now?  (My answer- just like ESPN used to mean Entertainment and Sports Programming Network- they dropped that and the initials just stay.  Or better example- MTV)

As for going forward- my assumption is the brand names stay (Solarban, Starphire etc) but that's not confirmed yet.  (that's crucial from a spec standpoint) UPDATE- I just got this confirmed.  Names staying  I can’t imagine Vitro doing a deal without those.  I don’t see any immediate disruptions in business or people, but I am sure as time goes on things will change.  They always do. - Also should note, in deals like this people are a key element.

The rumor mill in our industry by the way is spinning at warp speed.  I do think a lot of tire kicking is going on for sure, but for some of the proposed marriages I am being told, I just don’t think they are even close to happening. 

So this was just a quick take on some gigantic news.  More to follow as the details come out and things sink in.

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