PPG to exit insulating glass sealants business
Company closing Gloucester City, N.J., facilityPITTSBURGH, Dec. 2, 2008 –
PPG Industries (NYSE: PPG) announced today that it would discontinue the PRC
insulating glass sealants business. The company cited declining demand in the North American residential construction market as the primary reason for this decision.
The company said production would cease by March 15, 2009, at its Gloucester City, N.J., insulating glass sealants manufacturing facility, which employs approximately 29 people.
“These decisions are never easy, especially when they affect employees who have been solid contributors and colleagues,” said Mark Fanelli, director of sales, performance glazings. “However, after a careful business review, we have concluded these steps are necessary.”PRC
insulating glass sealants are sold and marketed by PPG’s performance glazings business. PRC
insulating glass sealants are used in the manufacture of insulating glass units for dual-pane windows for residential and commercial construction. Products include polyurethane and polysulfide polymer-based sealants, silicone, polyisobutylene, reactive hot melts and desiccant matrix.About PPG
Pittsburgh-based PPG is a global supplier of paints, coatings, chemicals, optical products, specialty materials, glass and fiber glass. The company has more than 150 manufacturing facilities and equity affiliates and operates in more than 60 countries. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit www.ppg.com
.PRC is a trademark of a subsidiary of PPG Industries.