Date: 10 April 2007
News of the likely bid comes from three people who declined to be named because the talks are private. They said Pilkington has appointed Ernst & Young to manage the sale.
Catalyst Investment Managers and a venture between Pacific Equity Partners and closely held DMS Glass have also requested sale documents, according to the sources.
The glassmaker, based in Dandenong, Victoria, is a unit of Nippon Sheet Glass Co.
Australia's home-building approvals rose 10 per cent in February from a year earlier, signalling a pick-up in construction and demand for sheets of glass.
Car, truck and bus sales rose to a record in the first quarter, up almost 9 per cent on the 2006 figure, the Federal Chamber of Automotive Industries said on Wednesday.
Pilkington has forecast earnings before interest, tax, depreciation, amortisation and research and development costs of $64 million this year, and $71 million in 2008.
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