January 21, 1994
PPG Industries Inc., a Pittsburgh glass and resin maker, said Thursday that its annual profit plummeted 21% as it took a $44.2-million charge because of a pending sale of its biomedical division to Irvine-based Enhanced Imaging Technologies Inc. PPG announced last month that it was selling its biomedical systems division to Enhanced Imaging for $55 million. That deal is expected to be completed by the second quarter.
September 9, 1999 |
More than 60 employees of PPG Industries Inc. in Torrance will lose their jobs when the company closes its automotive and industrial coatings plant in the South Bay city later this year, executives said this week. Employees at the 48-year-old facility were told of the decision in June. Executives with the Pittsburgh-based company announced the plant closure earlier this week to comply with state laws, said Fred Bose, plant operations coordinator. The exact date for the closing has not been set.
December 28, 2007 |
Buyout firm Platinum Equity says it wants to renegotiate its planned $500-million purchase of PPG Industries Inc.'s automotive glass unit, alleging that the paint maker had misrepresented the health of the business.
June 21, 2001 |
A Laguna Hills body shop has filed a lawsuit against DuPont Co., PPG Industries Inc. and three other paint makers that are under federal investigation for alleged price fixing. Autobody by Caldwell Inc. did not make any specific allegations in its suit, which was filed Tuesday. Relying on published reports about the federal probe, the suit alleged that the five paint companies have conspired since January 1996 to fix prices and restrain trade in the automotive refinishing industry.
December 23, 1993 |
Enhanced Imaging Technologies Inc. has agreed to buy most of the biomedical systems division of PPG Industries Inc. The deal would increase the Orange County company's payroll nearly fivefold, quadruple its sales and could result in the shuffling of employees among facilities in Southern California and Kentucky. Enhanced Imaging has agreed to pay a total of $55 million in cash, a note and some stock in one of its subsidiaries.
September 7, 1988 |
A takeover bid was scrapped Tuesday for Grow Group Inc., whose plant in the City of Commerce had chemical leaks Saturday and Sunday that forced the mass evacuation of thousands of nearby residents. PPG Industries said it was dropping its $300-million plan to acquire the New York manufacturer of paint and chemical coatings but gave no reason for the surprise decision. The announcement sent the stock of Grow Group tumbling on the New York Stock Exchange.