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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported) June 2, 1999
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PPG INDUSTRIES, INC.
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(Exact name of registrant as specified in its charter)
Pennsylvania 1-1687 25-0730780
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
One PPG Place, Pittsburgh, Pennsylvania 15272
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (412) 434-3131
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Not Applicable
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(Former Name or former address, if changed since last report.)
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Item 5. Other Events
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On June 2, 1999, PPG Industries, Inc. issued the press release
attached hereto as Exhibit 99, which is incorporated by reference herein.
Item 7. Exhibit
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(99) PPG Industries, Inc. press release dated June 2, 1999.
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PPG INDUSTRIES, INC.
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(Registrant)
/s/ W. H. Hernandez
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W. H. Hernandez
Senior Vice President, Finance
Date: June 16, 1999
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[Logo of PPG Industries, Inc.] Exhibit 99
PPG Industries, Inc.
Corporate Communications Department
One PPG Place
Pittsburgh, Pennsylvania 15272-0001 USA
News John S. Ruch 1-412-434-2445 (office)
1-724-452-8834 (home)
[email protected]
PPG TO ACQUIRE PRC-DESOTO
AEROSPACE SEALANTS & COATINGS
PITTSBURGH, June 2 -- PPG Industries will acquire coatings and sealants
maker PRC-DeSoto International, Inc., of Glendale, Calif. -- formerly Courtaulds
Aerospace, Inc. -- from Akzo Nobel N.V. for US$512.5 million. Pending regulatory
approval, the transaction should be concluded by the end of July.
PRC-DeSoto is a global supplier of coatings and sealants for aircraft and
sealants for architectural insulating glass units.
It has manufacturing operations in the United States and Europe, as well as
application support centers around the world serving aircraft manufacturers and
commercial operators. PRC-DeSoto, with annual sales of about US$240 million,
employs about 1,200 people.
"This acquisition furthers our strategy to invest in core businesses with
excellent growth potential and consistent earnings," said Raymond W. LeBoeuf,
PPG board chairman and chief executive. "We expect it to make a positive
earnings contribution within our first year of ownership.
(more)
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"It will make PPG a leading supplier of coatings and sealants to the
world's commercial, general and military airframe producers and operators, and
enhance our capabilities in glass sealants as well as coatings application
systems," he said. "PPG technologies will reinforce and expand PRC-DeSoto's
well-respected product line with water-borne and clear coatings, surface
pretreatment products, and chemicals management.
"Our automotive sealants business should also benefit through cross-overs
in product applications, and there are obvious marketing, distribution and
certification-process synergies with our aircraft products unit, the world's
leading producer of aircraft windshields and windows," LeBoeuf added.
PRC-DeSoto makes sealants in Glendale, Calif., and Shildon, England;
coatings and sealants in Mojave, Calif.; glazing sealants at Gloucester City,
N.J., and coatings at Gonfreville, France. Fourteen application support centers
in North America, Africa, Asia, Australia and Europe support aircraft
maintenance and aftermarket customers, and three more centers are planned.
PPG is a global leader in automotive, industrial and packaging coatings,
continuous-strand fiber glass, flat and fabricated glass, and industrial and
specialty chemicals, and a major North American maker of architectural coatings.
It employs about 32,000 people; 1998 sales exceeded US$7.5 billion. Coatings has
been PPG's largest business segment since 1992.
-21717/699-
Internet: http://www.ppg.com
