PPG Group recently announced that it has completed the entire equity transfer of Bicheng Glass Fiber Co., Ltd., and the total transaction revenue is nearly 170 million US dollars.
Bicheng Glass Fiber Co., Ltd. was jointly established by PPG Group and Formosa Plastics Enterprise Group Co., Ltd. each holding 50% of the shares. The company's first Chi Kiln is located in Chiayi County, Taiwan. Subsequently, in 2001, a second pond kiln was built in Kunshan, Jiangsu Province, China to meet the growing market needs.
The main product of Bicheng Glass Fiber Co., Ltd. is electronic glass fiber cloth, which is mainly used for the production of integrated circuit boards and various glass fiber reinforced plastics, and is widely used in the automotive industry.