FTC Appeals Order Allowing Swedlow Sale
The $42.3-million purchase of Garden Grove-based Swedlow Inc. by Pittsburgh glass giant PPG Industries Inc. has been further stalled as the Federal Trade Commission filed an appeal Friday to stop a court order that allowed the sale to go through.
The court order would have allowed the sale as long as Swedlow was held as a separate operation and its stock was put in a voting trust.
The FTC has objected to the sale--already approved by Swedlow stockholders--on the grounds that it would “substantially reduce competition” in the field of manufacturing aircraft windows. Swedlow makes glass and acrylic transparencies, with much of the production used for military aircraft canopies.
The FTC has asked the U.S. Circuit Court of Appeals in Washington to continue a temporary lower court stay on the transaction until it decides if it should overturn the lower court order. Swedlow plans to object to continuing the stay.