PPG Ind has recorded first quarter sales of US$1.80bn and a net income of US$123m. This includes an after tax restructuring charge of US$20m as a result of recent packaging coatings acquisitions, without which the net income would have been US$143m. Glass segment sales declined from the record level of a year ago due to the divstment of European flat and automotive glass operations in mid-1998. Effects of low-priced Asian glassfibre, particularly for use in electronics production, also contributed towards lower sales and operating earnings. Separately, at PPG's annual general meeting, board chariman and CEO R W Le Boeuf said that along with stronger supplier relationships, an enhanced quality process and technology breakthroughs a foundation for long-term growth had been established.
