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PPG closes $65M fine chemicals sale


Published : Fri, 30 Nov 2007 21:36
By : Agencies
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PITTSBURGH (AP) - PPG Industries Inc. said Friday it completed the sale of its fine chemicals business to a subsidiary of Zambon Co. S.p.A. for $65 million.

The deal was part of a strategy to focus on coatings and specialty products, Chief Executive Charles E. Bunch said in a statement.

The business, which employs 360 people, includes one plant in Texas and one in France.

Shares of PPG Industries slipped 22 cents to $68.19 in afternoon trading Friday.

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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