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United States

PPG Industries Inc (PPG.N)

PPG.N on New York Stock Exchange

106.76USD
26 Jul 2016
Change (% chg)

$0.17 (+0.16%)
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$106.59
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Volume
572,841
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476,293
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$117.00
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Latest Key Developments (Source: Significant Developments)

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

PSA Group gives full approval to enviro-prime epic electrocoat by PPG
Thursday, 23 Jun 2016 08:00am EDT 

Ppg Industries Inc :Psa group gives full approval to enviro-prime epic electrocoat by ppg.  Full Article

Nippon Electric Glass to buy glass fiber business in EU and PPG Industries Fiber Glass B.V
Monday, 20 Jun 2016 03:14am EDT 

Nippon Electric Glass Co Ltd <5214.T>:Says the company entered into agreement with PPG Industries Inc to buy its properties for glass fiber business in EU and 100 percent stake in PPG Industries Fiber Glass B.V..  Full Article

PPG fully funds its share of Pittsburgh Corning Asbestos Trust
Friday, 10 Jun 2016 08:11am EDT 

PPG Industries Inc : PPG fully funds its share of Pittsburgh Corning Asbestos Trust . Fulfilled initial funding requirements June 9, based on agreed-upon terms of trust settlement . Obligations include cash funding of approximately $500 million (pretax) . Obligations include transfer of about 2.78 million shares of PPG common stock . Funding will have no impact on PPG's stated cash-deployment targets . Exercised an option to prepay all future cash obligations, totaling a net of approximately $250 million .Utilized cash on hand for payments.  Full Article

PPG Industries enters $250 mln term loan credit agreement - SEC filing
Friday, 3 Jun 2016 05:27pm EDT 

PPG Industries Inc : On May 27, 2016, co entered into a $250 million term loan credit agreement between co and Bank Of Tokyo-Mitsubishi UFJ, ltd - sec filing .On May 27, 2016, co entered into $250 million term loan agreement among co, BNP Paribas and BNP Paribas Securities Corp.  Full Article

UPDATE 2-Mexico's Vitro to buy PPG's flat glass unit for $750 mln

MONTERREY, July 21 Mexican glass manufacturer Vitro said on Thursday it had agreed to purchase the flat glass unit of U.S. company PPG for around $750 million, giving it a foothold in U.S. and Canadian markets.