PPG Reports 4Q Sales

PPG’s performance coatings segment sales in the fourth quarter increased $183 million, or 22%, as a result of increased sales from the 2007 Renner and Barloworld acquisitions, the positive impact of stronger foreign currencies, improved sales volumes and increased selling prices. Sales volumes increased by 15% in the aerospace business and four percent in the automotive refinish business. In the architectural business, sales volumes were essentially flat. Segment earnings grew by $9 million due to solid volume growth partially offset by higher overhead costs, including selling and general administrative (SGA) costs tied to growth initiatives.
The industrial coatings segment sales for the quarter increased $86 million, or ten percent, as a result of stronger foreign currencies and improved volumes in all businesses. Volume declines in North America were more than offset by improved volumes in all other