PITTSBURGH – PPG Industries has announced that its board of directors has authorized the repurchase of an additional five million shares of outstanding common stock. The new authorization is effective immediately, does not expire and gives management discretion in determining the conditions under which shares may be purchased from time to time. Repurchases will be made in accordance with applicable securities laws in the open market or in privately negotiated transactions. Depending on market conditions and other factors, these repurchases may commence or cease from time to time without prior notice.
In October 2005, PPG’s board of directors authorized a repurchase program for 10 million shares, of which approximately 1,150,000 shares are currently available for repurchase.