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AGC sells North American architectural glass business to Cardinal

AGC sold its North American architectural glass business to Cardinal Glass Industries for approximately $450 million in the summer of 2021. The deal includes two float glass furnaces and a coater in Greenland, Tenn.; a float plant in Spring Hill, Kan.; and a coating facility in Abington, Va. AGC cited the need for improvements in profitability and asset efficiency as the reason for the transfer and pointed to its prior relationship with Cardinal and Cardinal’s ability to make “effective use of AGC’s assets and personnel” as reasons to choose Cardinal as a buyer.

Details of sale via marketscreener.com