The week's business headlines
China's Fuyao submits bid for ACH glass operations
Officials from auto-glass maker Fuyao Glass Group Industries Co. of China bid last week on Automotive Component Holdings LLC of Tulsa, the glass segment of Detroit’s Ford Motor Co., according to an Aug. 1 report from the Dow Jones Newswire.
Fuyao is one of several possible buyers for the company, according to the article… read more
Impact-resistant product sales drive growth for PGT in second quarter
Sales rose 39 percent to $108.7 million in the second quarter of 2006 for Venice, Fla.-based PGT Inc., compared to the same period last year, according to an Aug. 2 company release.
Company officials attribute the large gains to increased sales volume of its WinGuard line of impact resistant windows and doors… read more
PGT officials also announced in an Aug. 1 release that the underwriters of its initial public offer purchased more than 1.3 million additional shares of the company’s common stock.
The company went public in June with an initial public offering of about 8.8 million shares of common stock priced to the public at $14 per share… read more
Solutia Europe secures $256 million loan
Belgium’s Solutia Europe, a subsidiary of Solutia Inc. in St. Louis, closed on a $256 million loan to close in 2011, according to an Aug. 1 company release… read more
PPG, Alcoa and others cut benefits programs
Pittsburgh-based companies such as PPG Industries and Alcoa have cut many health-care and pension programs, passing costs on to workers, according to a July 30 article in the Pittsburgh Tribune Review… read more