PPG Reports Sales of $1.99 Billion for 4Q
l PPG Industries reported sales of $1.99 billion for the fourth quarter of 2002, an increase of four percent. Excluding one-time after-tax charges for an asbestos settlement, business restructuring and a required accounting change, sales for 2002 were $8.1 billion. This is slightly lower than total sales for 2001, which totaled $8.2 billion.
Fourth quarter sales rose $35 million in the coatings segment due to stronger volumes in architectural and industrial coatings and the strengthening of foreign currencies, according to the company.
The coatings segment totaled $1.1 billion up from $1.07 billion for the fourth quarter. For all of 2002, coatings sales totaled $4.48 billion, a slight rise over 2001’s $4.41 billion total.