PITTSBURGH — PPG Industries Inc. announced the sale of minority interests in three Chinese glass businesses to Asahi Glass Co. of Tokyo. PPG also sold its stake in a fourth glass business to a Chinese company. The divestitures are the result of excessive glass-production capacity in China, the company said.
PPG said the actions do not affect its other business activities in China, including the production and sale of automotive, industrial and packaging coatings and amorphous silicas.
PPG in 1998 divested its European flat- and automotive-glass operations in moves described as “strategic decisions” designed to allow the company to focus on its market-leading North American glass business.