NEW YORK, May 18 (Reuters) - PPG Industries PPG.N expects to announce the planned sale or a partnership link-up of its fine chemicals and glass businesses by the end of the summer, CEO Charles Bunch said on Friday.
“We hope to make some progress in the coming months,” Bunch told Reuters in an interview.
The company would consider linking up with a partner, including a private equity firm, in a joint venture, but only with PPG holding a minority stake, he said.
Bunch also said he did not expect an upturn in the U.S. housing markets until 2008, and said the coatings industry may see a larger acquisition in the future rather than the small to mid-sized buys that have occurred in recent years.
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