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PPG Industries Inc (PPG.N)

PPG.N on New York Stock Exchange

96.32USD
13 Jan 2017
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Latest Key Developments (Source: Significant Developments)

PPG Industries says initiates global restructuring, targets $125 mln in annual savings
Friday, 9 Dec 2016 06:51am EST 

PPG Industries Inc : PPG Industries Inc - will take pretax charge of $190 million to $200 million in Q4 2016 due to restructuring . PPG Industries Inc - of approximately $140 million total cash outlay, about $110 million is expected in 2017, with balance to occur in 2018 . PPG Industries Inc - "because of continued slow overall growth in global demand, we are taking decisive action to adjust our cost structure" . PPG initiates global restructuring, targeting $125 million in annual savings . When completed, company expects restructuring actions to generate $120 million to $130 million in annual savings . PPG Industries - of charges, about $140 million represents cash costs and $50 million to $60 million related to write-down of certain assets and non-cash costs . PPG Industries - also, approximately $15 million of incremental restructuring-related cash costs are expected during 2017 . PPG Industries - $40 million to $50 million of savings projected to be realized in 2017, remainder of expected savings substantially realized by year-end 2018 .PPG initiates global restructuring, targeting $125 million in annual savings.  Full Article

PPG prices offering of euro-denominated senior notes
Thursday, 27 Oct 2016 01:26pm EDT 

Ppg Industries Inc : PPG prices offering of euro-denominated senior notes . priced a public offering of 300 million euros aggregate principal amount of 0.000% notes due 2019 . priced offering of 600 million euros aggregate principal amount of 0.875% notes due 2025 at an issue price of 98.836% of principal amount .priced public offering of 300 million euros aggregate amount of 0.000% notes due 2019 at issue price of 99.632% of principal amount.  Full Article

PPG Industries sees Q3 adj EPS $1.54-$1.57 from cont ops
Friday, 7 Oct 2016 09:07am EDT 

PPG Industries Inc : Sees Q3 2016 Reported Loss Per Share From Continuing Operations To Be In Range Of 74 Cents To 77 Cents . Ppg Provides Update On Third Quarter 2016 Financial Results . Sees Q3 2016 Adjusted Earnings Per Share $1.54 To $1.57 From Continuing Operations . Sees Q3 2016 Sales About $3.8 Billion . Q3 Earnings Per Share View $1.71 -- Thomson Reuters I/B/E/S . Oard Of Directors Has Authorized A $2 Billion Share Repurchase Program. . "We Are Reviewing Potential Actions To Reduce Our Overall Cost Structure" . $2 Billion Share Repurchase Program In Addition To Company's Existing Share Repurchase Authorization Which Was Approved In 2014 . "We Are Disappointed With This Quarter's Eps Growth Rate As We Continue To Operate In A Sluggish Economic Environment" . Expect Spending On Acquisitions, Share Repurchases For Combined Years 2015,2016 To Be At Top End Of Previousl Range Of $2 Billion - $2.5 Billion . The Cost Actions Would Be In Addition To Restructuring Program Announced In 2015 . PPG Industries Inc Sees Q3 2016 Reported Loss Per Share From Continuing Operations To Be In Range Of 74 Cents To 77 Cents .Q3 Earnings Per Share View $1.71, Revenue View $3.83 Billion -- Thomson Reuters I/B/E/S.  Full Article

PPG Industries says will divest ownership interest in PFG fiber glass JVs
Thursday, 22 Sep 2016 08:11am EDT 

PPG Industries Inc : PPG reaches agreement to divest its ownership interest in PFG fiber glass joint ventures . Financial terms were not disclosed .To divest its 50 percent ownership interests in its two PFG fiber glass joint ventures (PFG) to Nan Ya Plastics Corp.  Full Article

PPG says executive chairman Bunch to retire
Thursday, 21 Jul 2016 09:01am EDT 

PPG Industries Inc : President and chief executive officer Michael McGarry will become chairman and CEO effective same day . Bunch to retire as PPG executive chairman, CEO McGarry elected to succeed .Charles Bunch to retire Sept. 1 as executive chairman of PPG board of directors.  Full Article

PPG Industries sells flat glass operations to Vitro
Thursday, 21 Jul 2016 08:29am EDT 

PPG Industries Inc: PPG reaches agreement with Vitro for sale of flat glass operations . Says PPG will receive approximately $750 million in gross cash proceeds . PPG will receive approximately $750 million in gross cash proceeds . PPG Industries Inc says PPG will divest its entire flat glass manufacturing and glass coatings operations .Under terms, PPG will divest its entire flat glass manufacturing and glass coatings operations, including production sites.  Full Article

PPG Industries reports Q2 earnings per share $1.37
Thursday, 21 Jul 2016 06:51am EDT 

PPG Industries Inc : PPG reports second quarter 2016 financial results . Q2 adjusted earnings per share $1.85 . Q2 earnings per share $1.37 . Q2 sales $4.1 billion versus i/b/e/s view $4.17 billion . Q2 earnings per share view $1.85 -- Thomson Reuters I/B/E/S . Sees accelerated cash deployment in second half of year . Reiterated its commitment to deploy $2.0 billion to $2.5 billion of cash, in years 2015 and 2016 combined, on acquisitions and share repurchases . "In U.S. and Canada, net sales declined in comparison to prior year primarily due to lower architectural coatings volumes" . Sees total cash deployment for 2015 and 2016 combined to be toward upper end of announced cash deployment targets . Says "sales volumes accelerated in Asia, supported by growth in China and India that aided both coatings segments" . "Anticipate an acceleration of volume growth in Q3" .Says qtrly unfavorable foreign currency translation impacted net sales by 2 percent, or about $30 million.  Full Article

PPG names Jeff Oravitz as vice president of PPG Coatings Services
Monday, 11 Jul 2016 03:38pm EDT 

PPG Industries Inc: PPG announces executive appointment .Jeff Oravitz, previously CEO of MetoKote, is appointed vice president of PPG Coatings Services and president of PPG-MetoKote.  Full Article

Metlife signs pension buyout agreement with PPG
Tuesday, 28 Jun 2016 09:00am EDT 

Metlife Inc : Metlife signs pension buyout agreement with PPG . PPG will purchase group annuity contracts from Metlife and Massmutual . Deal will be executed with a combination of cash and assets-in-kind .PPG entered into agreement with co, Massachusetts Mutual Life Insurance Company to provide annuity benefits to about 13,400 retirees.  Full Article

PPG to transfer pension administration and obligations to Massachusetts Mutual Life Insurance Co and Metropolitan Life Insurance Co
Monday, 27 Jun 2016 04:33pm EDT 

PPG Industries Inc : PPG to transfer pension administration and obligations to Massachusetts Mutual Life Insurance Company and Metropolitan Life Insurance Company . Agreement to transfer pension benefits, annuity administration for $1.6 billion . Transfer in pension liabilities to Massachusetts Mutual Life Insurance Company and Metropolitan Life Insurance Company .PPG's pension plans to buy group annuity contracts from Massmutual, Metlife for about 13,400 current U.S. salaried, non-union hourly retirees.  Full Article

BRIEF-PPG announce quarterly dividend of 40 cents per share

* PPG directors announce quarterly dividend of 40 cents per share Source text for Eikon: Further company coverage: (Bengaluru Newsroom; +1 646 223 8780; )