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TCG INTERNATIONAL ANNOUNCES U.S. ASSET SWAP

 TCG INTERNATIONAL ANNOUNCES U.S. ASSET SWAP
 MERCER ISLAND, Wash., April 16 /PRNewswire/ -- TCG International


Inc. (TCGI) (Vancouver: TCG) of Burnaby, British Columbia, and Libbey- Owens-Ford Co. (LOF) of Toledo, Ohio, announced today the signing of a letter of intent for the exchange of TCGI's U.S. auto glass wholesale distribution operations, excluding Alaska operations, for all LOF's U.S. retail auto glass stores and an undisclosed amount of additional consideration. The exchange, which is subject to signing a definite agreement and governmental approval, is expected to close on May 31.
 The exchange involves the transfer of TCGI's 22 wholesale distribution warehouses located in 10 states for LOF's 70 retail stores in seven states.
 TCGI, trading as Speedy Auto Glass, presently operates 40 corporate-owned and 30 franchised retail auto glass stores in the United States. LOF currently operates 57 wholesale service centers in the United States.
 -0- 4/16/92
 /CONTACT: Nevil Hermer of Speedy Auto Glass, 206-232-9500/
 (TCG.) CO: TCG International Inc.; Libbey-Owens-Ford Co.; Speedy Auto Glass ST: British Columbia, Ohio IN: AUT SU:


SC-JH -- SE012 -- 9601 04/16/92 19:43 EDT
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Publication:PR Newswire
Date:Apr 16, 1992
Words:184
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