US glass producer PPG Industries, Inc. has reported that, for the second quarter of 1996, overall sales were 2.1% higher at US$ 1.91 billion, with net income rising 5.4% to US$ 228.5 million. Operatin…
US glass producer PPG Industries, Inc. has reported that, for the second quarter of 1996, overall sales were 2.1% higher at US$ 1.91 billion, with net income rising 5.4% to US$ 228.5 million. Operating income from chemicals improved 4.85% to US$ 108 million, on sales that were up 1.2% to US$ 420 million. Coatings and resins recorded sales of US$ 771 million (up 1.8%), with operating income of US$ 166 million, up 16.1%. There was a 3.4% increase in glass sector sales to US$ 722 million. For the first six months of 1996, the company recorded an 8.1% rise in net income to US$ 400.8 million. In fact, PPG chairman and chief executive Jerry Dempsey has stated that PPG should post record sales and earnings this year, barring a strike by the US“s United Autoworkers union. However, he added that in the event of a strike (by the autoworkers) it would have an impact on the company. The autoworkers have been in contract talks with the big three US automakers. Thousands of PPG“s employees who design, market, sell and manufacture glass parts for General Motors vehicles have been honoured for playing their part, as PPG was presented with a 1995 GM “Supplier of the Year“ award. “Being selected as a “Supplier of the Year“ by General Motors validates our constant focus on meeting GM“s expectations of quality, service and price,” a company representative said. “It places us in a very elite group – in the top one-half of one per cent of the 35,000 companies around the world that provide GM with parts and services.”