PPG Industries seeks options for units |
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Thu, 19 Apr 2007 19:51
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PITTSBURGH (AP) - PPG Industries Inc., a supplier of paints, coatings, chemicals and other specialty products, on Thursday said it is continuing to explore options for some of its units, including a sale.In a statement issued the same day as its annual shareholder meeting, the company said it is looking for alternatives for its automotive original equipment manufacturer, its replacement glass and services business and its fine chemicals business.'These alternatives may include restructuring, forming strategic alliances and/or divesting the businesses,' Charles E. Bunch, company chairman and chief executive officer said in a statement.Shares rose $4.48, or 6.3 percent, to $75.40 during afternoon trading on the New York Stock Exchange, after hitting a 52-week high of $75.80. The stock had traded between $60.42 and $72.80 during the past year.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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