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Cardinal buys AGC architectural glass business

AGC has announced it will sell its North American architectural glass business to Cardinal Glass Industries for approximately $450 million. The deal is expected to close in July at the earliest. 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