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Web Date: September 17, 2007

PPG To Sell Fine Chemicals, Auto Glass Businesses

Divestitures intended to focus firm on coatings, specialty products, and services
Department: Business | Collection: Economy

PPG Industries has signed an agreement to sell its fine chemicals operation for $65 million to ZaCh Systems, the fine chemicals subsidiary of Italian pharmaceuticals firm Zambon. The deal comes just a few days after PPG revealed it would sell its automotive glass business for $500 million to private equity firm Platinum Equity. Both businesses had been on the block for some time.

Cash raised in the two sales . . .

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