PPG Industries Inc., the US-based glass producer, plans to invest more than US$ 23 million for repairs and upgrade in its Meadville, Pa. oxygen-fuel glass plant, which will be shut down in the first q…
PPG Industries Inc., the US-based glass producer, plans to invest more than US$ 23 million for repairs and upgrade in its Meadville, Pa. oxygen-fuel glass plant, which will be shut down in the first quarter of 2002 for three months. In a press release, the company said it also expects a limited number of voluntary lay-offs during the shutdown, and said the facility has about 400 employees. PPG Industries said the plant“s other float glass production line will not be scheduled for rebuild before 2005. PPG warned it would take a first quarter 2001 restructuring charge of US$ 50 million to US$ 100 million, which includes an unspecified number of job consolidations and possible plant closings, but expected to offset these charges with additional earnings by the end of 2001.