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PPG transition strategy is driven go against force growth
From;    Author:Stand originally
Transition strategy continues to drive outstanding achievement to go against force growth, end at present this year operation cash income relatively the corresponding period grew 50% last year. American PittsburghOn October 17, 2008Message, PPG industry company announces sale of the 3rd quarter is 4.2 billion dollar this year, relatively the corresponding period grew 37% last year. Net income of the 3rd quarter is 117 million dollar, be equivalent to every 0.7 dollars. The after adjusting net income of special project is purify 227 million dollar, be equivalent to every 1.37 dollars. We carry out “ successfully what the financial performance of this quarter proved company transition strategy, and we are had on general chemical business continuously advantage, chairman of ”PPG company board of directors holds presiding apparitor CharlesE.Bunch concurrently to point out, “ is in a few years of in the past, the geographical range that covers through enlarging business, enter new terminal the market and enhance the ability that gains cash income, we had been become more can the company of withstand test. This quarter, although get the negative effect with two sea bank hurricane of American and automobile apparently fatigued and weak manufacturing industry, every accrual after adjusting still with the corresponding period comparatived last year. ”“ financial discipline and flexibility give attention to two or morethings are the characteristic with consistent PPG. Through finishing annual to reduce debt ahead of schedule the target is mixed raise ready money, we enhanced financial forms for reporting statistics further, ”Bunch complements. End to sign up for income of company operation cash at present already relatively the corresponding period grew 50% last year, annual is in debt completely pay the forehead to be 650 million dollar about, quantity of cash on hand makes an appointment with this quarterly end 500 million dollar, already issued American trade bill to restrain 175 million dollar. Bunch expresses: “ enhances company actual strength to continue, we took step already actively, include to come off automobile glass business is mixed Wu of the beginning of the school year recombines. These measure future will bring finance profit for the company, ”

This company sells this quarter formally surely definitely 60% automobile glass of the left and right sides and service business equity, announce to begin business to recombine, to the end of 2009 this recombines those who predict to will save about 100 million dollar for the company year of operation expenses. Money signs up for the charge after pointing out net income of the 3rd quarter already included tax 2008, among them 110 million dollar (or every 0.67 dollars) the charge after the duty that recombines for business, still include 3 million dollar (or) of every 0.02 dollars, with reflecting a ground asbestine liquidated debenture Wu value of the agreement to increase net specified number in May 2002, this agreement remains to adjudicate finally. The accrual after the duty of the 3 million dollar that net income still includes to come off automobile glass and service business place are obtained, be equivalent to every 0.02 dollars. PPG2007 year the sale of the 3rd quarter is 3.1 billion dollar, newspaper net income 191 million dollar, be equivalent to every 1.15 dollars, 231 million dollar is via battalion business net income continuously after adjusting, be equivalent to every 1.4 dollars. 3 quarters net income included to manage business net income continuously 2007 213 million dollar (or) of every 1.29 dollars, the blame of business of careful chemical industry before mixing runs business deficit continuously 22 million dollar (or) of every 0.14 dollars. Manage business net income to include continuously: 11 million dollar (or every 0.06 dollars) the charge after duty, come from come off automobile glass is reached serve business and save the annuities below, and other the welfare after retiring; 4 million dollar (or every 0.03 dollars) purchase relevant cost; 3 million dollar (or every 0.02 dollars) reflective basis in May 2002, asbestine liquidates debenture Wu value of the agreement to increase net specified number. After adjusting, include to be not the net income that runs business continuously to be 228 million dollar, be equivalent to every 1.37 dollars.
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