Apogee Enterprises, Inc. and PPG Industries, Inc. received early termination of the waiting period from the Federal Trade Commission regarding the proposed joint venture between the two companies.
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Apogee Enterprises, Inc. and PPG Industries, Inc. received early termination of the waiting period from the Federal Trade Commission regarding the proposed joint venture between the two companies. This was the last significant condition to closing the venture, which was announced on 13June. In a press release, Apogee said PPG Auto Glass LLC, a combination of the glass distribution businesses of each company, is expected to begin operations this summer. PPG will hold a 66% interest and Apogee a 34% in the new company, which is expected to employ more than 1,200 people from each company“s existing units.