Central Glass, a parent company of Carlex Glass Company, has made a binding offer to acquire all of the outstanding shares of two subsidiaries of Guardian Industries: Guardian Automotive Products, Inc. (GAPI), and Guardian Automotive-E S.A. (GA ESA).
This transaction by Central Glass includes three automotive glass manufacturing sites and the GAPI headquarters. The glass plants are located in Auburn, Indiana; Ligonier, Indiana; and Grevenmacher, Luxembourg.
These acquisitions will enhance Central Glass Group’s and Carlex’s position as a global provider of automotive glass products. Currently, Carlex provides original equipment glass and replacement glass for a variety of OEM automakers and the aftermarket. Carlex products include windshields, door glass, back windows and sunroofs.
The acquisitions provide Carlex with the ability to expand its presence in Europe. Closing of the transaction is subject to certain regulatory approvals and customary closing conditions.
Central Glass Group plans to operate the acquired businesses under the Carlex name. Officials at Carlex anticipate positive synergies, such as sharing of production techniques.
“Carlex’s agreement to purchase Guardian’s OEM business, coupled with its previous purchase of Zeledyne’s auto glass manufacturing facility in Nashville and aftermarket distribution centre in Lebanon, Tennessee, is strong evidence of its commitment to the automotive glass business in both OEM and aftermarket,” said Mike Morrison, President of Guardian Automotive:
“Our people will be joining an established brand with a long-term focus on the automotive glass business.”