PPG Axes 1,700 Jobs As Part Of Global Restructuring

DSC01801PPG Industries Inc. is trimming 4 percent of its global workforce as the world’s largest paint and coatings company tries to reduce costs related to a spate of recent acquisitions.

The Downtown-based company said it was cutting 1,700 jobs as part of a restructuring that also includes reducing production capacity. About 40 of PPG’s 2,500-person workforce in Pittsburgh will lose jobs, the company said.

PPG is aiming to achieve $100 million to $105 million in annual pretax savings by 2017 from the restructuring. Further details of the capacity reductions were not available, the company said.

PPG spent about $2.4 billion buying companies last year, part of a long-term strategy to grow through acquisitions.

Read more: http://triblive.com/business/headlines/8177530-74/million-share-ppg#ixzz3XUlxVMxb
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PPG Completes $1.05 Billion Acquisition Of Akzo Nobel Coatings Unit

PPG Place in downtown Pittsburgh, Pennsylvania.

PPG Place in downtown Pittsburgh, Pennsylvania. (Photo credit: Wikipedia)

PPG Industries said today it completed its $1.05 billion acquisition of Akzo Nobel‘s North American architectural coatings business.

The purchase, the second largest in PPG’s history, strengthens the Pittsburgh company’s paint and coating business, which is anticipated to benefit from a revival of the U.S. housing market.

Read more: http://www.post-gazette.com/stories/business/news/ppg-completes-105-billion-acquisition-of-akzo-nobel-coatings-unit-681682/#ixzz2PGEFDIdD