PPG Industries recorded net income of US$162m for the final quarter of 1998, including after tax restructuring charges of US$8m. The charges are expected to be paid back within a year. Sales totalled US$1.79bn (US$159m same period 1997). PPG's net income for 1998 was US$801m, including a gain from the sale of the European flat and automotive glass business, partially offset by a restructuring charge related to disposition of equity interests in Chinese glass operations and restructuring charges related to cost reduction initiatives. Sales were a record US$7.51bn. Full year net income for 1997 was US$714m. Glass segment sales declined from the previous year's quarter, primarily on the divestiture of the European flat and automotive glass operations. (whole item)
