Ppg To Sell European Arm

PPG Industries recently announced it was seeking to sell its European flat and automotive glass interests, which are based in France and Italy. The businesses employ about 2,750 people, and had sales last year of some $450m - a relatively small portion of PPG's total tglass sales of $2.1bn. the company said the operations were profitable and had made efficiency improvements. However, it was "not a major force in the region's highly competitive glass industry" and did not meet strategic requirements. (whole item)