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PPG Plans Exit From European Glass Business

Pittsburgh-based PPG Industries Inc. reports that it is selling its European flat and automotive glass business. Discussions are already underway with potential buyers. Raymond W. LeBoeuf, PPG board chairman and CEO, says the companys European glass operations, which employ about 2,750 workers in France and Italy, are profitable. However, because it is not a major force in the regions highly competitive glass industry and long-term performance has been inconsistent, we had to conclude that it does not meet our current strategic requirements for scale, growth, and performance, LeBoeuf said. Earlier this year PPG also announced that it will close an unprofitable flat glass plant in Perry, Ga., and exit equity interests in two flat glass plants in China.

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