PPG Officials Say PGW is Operating Successfully, Continues as Part of PPG Portfolio
January 24, 2013

by Penny Stacey, pstacey@glass.com

During a recent call with investors about PPG Industries' fourth-quarter financial results, company officials addressed the ongoing 38 percent stake PPG owns in Pittsburgh Glass Works (PGW).

Asked for the status of the auto glass business long-term, Charles E. Bunch, chair and CEO, replied, "We do own—we've maintained our minority interest ... We continue to have a good relationship with our-the majority owners of the Kohlberg company. And right now, it's an ongoing business in our portfolio."

An investor also asked if the company intends to sell the rest of the business to Kohlberg & Co., which purchased the majority of the business from PPG in 2008 for $270 million.

" ... We're not going to go into all the details of our specific joint venture contracts," said Bunch. "But right now, the business is operating successfully and continues in our portfolio."

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