Ameron sells coatings unit.Pittsburgh-based PPG Industries PPG Industries (NYSE: PPG) was founded in 1883 as the Pittsburgh Plate Glass Company. PPG is an American manufacturer of glass and chemical products, including automotive safety glass. Inc., the world's second largest maker of auto paint. said on June 29 that it has agreed to purchase Ameron International Corp,'s coatings unit for $115 million. Pasadena-based Ameron unit employs about 700 people in the U.S, Europe, Australia and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. and had sales of $210 million in 2005. PPG PPG Points Per Game (basketball player statistic) PPG Power Play Goals (hockey) PPG Planning Policy Guidance (UK) PPG Programmable Pulse Generator PPG Power Puff Girls said the deal also includes Ameron's 40 percent stake in Oasis-Ameron Ltd., of Saudi Arabia Saudi Arabia (sä  `dē ərā`bēə, sou`–, sô–), officially Kingdom of Saudi Arabia, kingdom (2005 est. pop. . Ameron added that the deal should be
finalized within 45 days.
Shares of PPG rose $1.65 a share to $65.31. They have gained 24 percent over the past year. Pasadena-based Ameron jumped nearly $4 a share to close at $65.05. The shares have more than doubled in the past year. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion