Ppg Plans Restructuring

PPG is pursuing a number of restructuring actions that could result in a charge of US$50-100m in the first quarter of 2001. The actions are in response to weakening economic conditions that emerged in late summer and are not abating. The company has seen declines in a number of its end markets, particularly production of vehicles for the coating market. At the same time, it is dealing with the rising natural gas prices. The company initiated a fuel-cost surcharge in 2000.