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Stock Market & Financial Investment News

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February 1, 2013
04:58 EDTPPG, AXLLPPG announces final proration factor of 14.99% for shares in exchange offer
PPG Industries (PPG) announced the final proration factor of 14.99% for its exchange offer of PPG common stock in connection with the separation of PPG's commodity chemicals business and merger of Eagle Spinco, the entity holding PPG's former commodity chemicals business, with a subsidiary of Georgia Gulf Corporation. On Jan. 28, 2013, a subsidiary of Georgia Gulf Corporation merged with and into Eagle Spinco, with Eagle Spinco surviving the merger. The combined company formed by uniting Georgia Gulf with PPG's former commodity chemicals business is now named Axiall Corporation (AXLL). A total of 68.93M shares of PPG common stock were validly tendered in the exchange offer. All remaining validly tendered shares of PPG common stock were accepted in the exchange on a pro rata basis using the final proration factor. Shares of PPG common stock that were validly tendered but not accepted for exchange will be returned to tendering shareholders.
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July 18, 2014
09:02 EDTPPGPPG Industries to sell Mt. Zion float glass manufacturing facility
PPG Industries announced that it has reached a definitive agreement to sell substantially all the assets of its Mt. Zion, Illinois, glass manufacturing facility to automotive glass manufacturer Fuyao Glass America Inc. The sale is expected to close in the third quarter 2014, subject to customary closing conditions. Financial terms were not disclosed. The sale of the Mt. Zion facility is consistent with the strategic initiative by PPG’s flat glass business to focus on its higher-technology, coated glass capabilities for residential and commercial construction application.

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