Ownership change indicated for Niles business
Published 11:42 am Tuesday, May 16, 2006
By By ANDY HAMILTON / Niles Daily Star
NILES - Local glass manufacturer Pilkington North America could be changing ownership.
Roberta Steedman of Pilkington North America wrote in an email “a joint announcement was released by the Boards of NSG (Nippon Sheet Glass Co., Ltd of Japan) and Pilkington stating that the Pilkington Board was intending to recommend to Pilkington shareholders that they accept a formal offer by Nippon Sheet Glass (NSG) for the remaining 80 percent of the shares in the company NSG do not yet own.”
Steedman added she was not able to comment further because the transaction was still in the “offer period.”
Employees at Pilkington North America in Niles were recently notified of the company's intentions to sell the plant, said Jack Ryman, who has worked at the Niles location for two-and-a-half-years.
Employees of the Niles plant at 2121 W. Chicago Road, Suite E. saw a notice was posted inside the plant stating the company was in the process of being sold. Ryman, a Niles resident, said the notice did not state when the sale would take effect.
An April 19 statement released by Pilkington stated “regulatory reviews of the acquisition by the relevant anti-trust authorities are underway.” And, the remaining Pilkington shares not owned by Nippon are expected to change hands by June 16.