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Acquisition boosts PPG's second-quarter profits
Thursday, July 17, 2008

Boosted by growth in its offshore markets, the acquisition of Dutch paints maker SigmaKalon, and price increases, PPG Industries' second-quarter sales jumped by 42 percent to $4.5 billion.

The coatings, glass and chemicals maker said net income rose slightly to $250 million, or $1.51 per share, from $249 million, or $1.50 per share in the year-ago quarter.

PPG bought SigmaKalon in January for $3 billion -- the largest acquisition in the company's history.

Chairman Charles Bunch said PPG is implementing price increases in commodity chemicals and other businesses to help offset inflationary pressures.

First published on July 17, 2008 at 9:27 am
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