PITTSBURGH – Nan Ya Plastics has agreed to acquire the remainder of its ownership interests in its two PFG Fiber Glass joint ventures from PPG.

Nan Ya and PPG currently each hold a 50% stake in the JVs.

The transaction is expected to close by the end of 2016. Financial terms were not disclosed.

PFG manufactures yarn fibers for laminates and fiber-glass reinforcement materials for automotive applications. It has production facilities in Chia Yi, Taiwan, and Kunshan, China.

The companies formed the joint venture in 1987 to establish the Taiwan plant. In 2001 it formed a second JV to create the China site.

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