Mirror file photo by J.D. Cavrich The Pittsburgh Glass Works plant in Tipton is one of seven manufacturing plants being acquired by Vitro, a leading glass manufacturer based in Mexico.

TIPTON — The Pittsburgh Glass Works manufacturing facility in Tipton is in the process of being sold.

LKQ Corp. — which bought PGW for $635 million earlier this year — recently announced that it has entered into a definitive agreement to sell the OEM glass manufacturing business of its Pittsburgh Glass Works subsidiary to a subsidiary of Vitro S.A.B. de C.V., a leading glass manufacturer based in Mexico. The sale price is $310 million, subject to potential post-closing purchase price adjustments.

As part of the transaction, LKQ and Vitro entered into a multi-year supply agreement pursuant to which LKQ’s ongoing aftermarket glass distribution business will purchase a specified amount of its automotive glass from Vitro at specified prices, according to a press release on the LKQ  website.

Vitro is acquiring seven manufacturing plants — including plants in Tipton, Meadville and East Deer — two satellite facilities and two float glass furnaces in the United States, one manufacturing plant in Poland and an equity share in two joint ventures located in North America and China.

Both LKQ and Vitro officials are pleased with the transaction.

“We look forward to a seamless transition for our OEM glass customers and employees. PGW’s industry leading OEM business fits well with Vitro’s long-term growth strategy within the automotive glass manufacturing industry, and this divestiture allows LKQ to focus on our aftermarket glass distribution operations and the synergies that exist with our core North American auto parts distribution business,” said Robert L. Wagman, LKQ Corp. president and CEO in a statement.

“We are very excited to have reached this agreement between LKQ and Vitro. The addition of PGW’s original equipment business will enable us to serve a greater number of customers as well as increase our geographic coverage. PGW’s state of the art technology will enhance our efforts in innovation and technological development in the sector,” Vitro CEO Adrian Sada Cueva said in a statement.

The transaction is expected to be completed in the first quarter of 2017 and is subject to customary closing conditions and necessary regulatory approvals.

Mirror Staff Writer Walt Frank is at 946-7467.