Central Glass Group Announces Plans to Expand Its Carlex Business Operations

NASHVILLE, Tenn.--(BUSINESS WIRE)--Central Glass Co., Ltd., a parent company of Carlex Glass Company, announced that it has resolved to conclude a share transfer agreement to acquire all of the outstanding shares of two subsidiaries of Guardian Industries Corp.: Guardian Automotive Products, Inc. (GAPI), headquartered in Sterling Heights, Michigan, and Guardian Automotive-E S.A. (GA ESA), headquartered in Luxembourg.

This transaction by Central Glass Co., Ltd. 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.

Shuichi Sarasawa, president and CEO of Central Glass Co., Ltd., said, “We are acquiring these Guardian subsidiaries to further strengthen our global automotive glass business.”

“This move will expand our geographic footprint and add to our product portfolio, in addition to increasing the number of customers we serve,” said Jim Shepherd, president and COO of Carlex. “Add that to our existing capabilities, and the combined organization is positioned to further improve support to our customers.”

Central Glass says the acquisitions will provide wider OEM and aftermarket production capabilities and an expanded line of products for distribution to the aftermarket, advanced solution capabilities and a broader customer base of global original equipment manufacturers. It also provides 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 center 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.”

“We extend a warm welcome to the current Guardian employees who will be joining the Carlex family,” added Shepherd. “This transaction will help build upon Carlex’s participation in the resurgence of manufacturing in the U.S. and extend our reach into Europe.”

About Carlex

Headquartered in Nashville, Tennessee, Carlex is a manufacturer of automotive glass products, including windshields, door glass, back windows and sunroofs for original equipment manufacturers and for the automotive replacement glass market. In addition to its Nashville plant, Carlex operates a glass plant in Vonore, Tennessee, and an automotive replacement glass distribution center in Lebanon, Tennessee. It also operates three assembly centers: La Vergne, Tennessee; LaGrange, Georgia; and LaFayette, Indiana. An OEM Sales and Engineering office is located in Canton, Michigan. Carlex was established as a subsidiary of Central Glass Co., Ltd. in 1989. Visit www.carlex.com for more information.

About Central Glass

Central Glass Co., Ltd. was founded in 1936 and is headquartered in Tokyo, Japan. Together with its subsidiaries, Central Glass manufactures and sells glass and chemical products internationally. Visit www.cgc-jp.com for more information.

About Guardian

Guardian Automotive Products, Inc. (GAPI) and Guardian Automotive-E S.A. (GA ESA) are subsidiaries of Guardian Industries Corp. GAPI and GA ESA manufacture glass systems for new vehicles.

Guardian Industries is a diversified global manufacturing company headquartered in Auburn Hills, Michigan, with leading positions in float glass, fabricated glass products and other building products for commercial, residential and automotive applications. Visit www.guardian.com.

Contact:

Carlex

Andrea Lindsley, 615-780-3315

Andrea.Lindsley@dvl.com