PPG INDUSTRIES, INC. (NYSE:PPG) Files An 8-K Results of Operations and Financial Condition

As previously reported, on May 26, 2017 PPG Industries, Inc. (the "Company") reached a definitive agreement to sell the assets of its North American fiberglass operations to Nippon Electric Glass Co. Ltd. ("NEG"), a leading manufacturer of fiberglass. The transaction is expected to close in the second half of 2017, subject to customary closing conditions.

In 2016, PPG completed the sale of its European fiberglass operations to NEG and divested its ownership interests in two Asian fiberglass joint ventures.

The Company will begin to report the sales and operating results of its Glass segment, which currently consists only of the fiberglass business, as discontinued operations in its second quarter 2017 interim financial statements.

Supplemental Earnings Information

The Company is furnishing as Exhibit 99.1 an unaudited reconciliation of net income (attributable to PPG) and earnings per share – assuming dilution from continuing operations and discontinued operations to adjusted net income (attributable to PPG) and adjusted earnings per share – assuming dilution from continuing operations and discontinued operations, excluding certain items to reflect the Company's global fiberglass business as discontinued operations for the historical periods from the first quarter of 2013 through the first quarter of 2017.

Certain historical periods have previously been recast to reflect the Company's sale of itsflat glass business in October 2016, the sale of the Company's interest in its Transitions Optical joint venture andits optical sunlens business in March 2014, and the separation of its commodity chemicals business in January 2013. The sales and operating results of these businesses are reported as discontinued operations.

For further information about the Company’s financial results, see PPG’s Annual Report on Form 10-K for the year ended December 31, 2016, which is available at www.ppg.com.

The information furnished to this Item 2.02 shall in no way be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“the Exchange Act”), or otherwise subject to the liability of that section, except if PPG specifically incorporates it by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act.

(d) Exhibits.

PPG INDUSTRIES INC ExhibitEX-99.1 2 a2q2017exhibit991discontin.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Adjusted Earnings Per Diluted Share ReconciliationRegulation G Reconciliation – Results from OperationsPPG Industries,…To view the full exhibit click here
About PPG INDUSTRIES, INC. (NYSE:PPG)
PPG Industries, Inc. (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses. The Industrial Coatings segment consists of the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, and specialty coatings and materials businesses. Industrial, automotive OEM, packaging coatings, and specialty coatings and materials products are formulated specifically for the customers’ needs and application methods. The Glass segment consists of the flat glass and fiberglass businesses. The Company’s brands include SIKKENS, PPG PITTSBURGH PAINTS, MULCO, FLOOD, LIQUID NAILS, SICO, CIL, RENNER, TAUBMANS, WHITE KNIGHT and BRISTOL.