Pilkington has entered into an agreement to acquire the US assets of Autostock Distribution (AD), (asset value around US$18M). AD is a glass distributor with 21 locations in the US. In addition to distributing auto replacement glass for all makes & models of domestic & foreign vehicles, it supplies a wide range of auto aftermarket accessory products. The acquisition is expected to be completed 18/07/05 & will further strengthen Pilkington as the market leader in the distribution & wholesale auto glazing aftermarket in N America. Pilkington, through its auto glass replacement business, distributes parts for virtually all vehicle types in N America. Pilkington Group CE S Chambers said "This is another step in our transition to Stage 3 of our 3-stage 'Cash for Growth' strategy, identifying opportunities for profitable growth in existing businesses."
