PPG Industries (NYSE: PPG) was notified that affiliates of Platinum Equity intend to terminate their contract to purchase PPG's automotive original equipment manufacture (OEM) glass and automotive replacement (ARG) glass and services businesses.

PPG also said that, in the event the transaction does not close with the Platinum group, it will continue to explore divestiture, restructuring and other strategic alternatives for the automotive OEM and ARG and services businesses with the goal of maximizing shareholder value.

The automotive OEM glass business unit supplies windshields, rear and side windows, sunroofs and assemblies for auto and truck manufacturers. The ARG and services business unit supplies and distributes replacement automotive glass products for use in the aftermarket. It also provides insurance claim services through its LYNX Services subsidiary, glass management software through its GTS Services subsidiary, and e-business solutions through its GLAXIS subsidiary.

The two automotive glass businesses manufacture and fabricate products in nine North American plants located in Berea, Ky.; Creighton, Meadville and Tipton, Pa.; Crestline, Ohio; Evansville, Ind.; Evart, Mich.; and Hawkesbury and Oshawa, Ont., Canada. In addition, there are nine satellite parts assembly plants, and there are LYNX Services claims management centers in Fort Myers, Fla., and Paducah, Ky. Combined, the businesses employ approximately 4,400 people.

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PPG Industries (NYSE: PPG)

FIRMS

Pittsburgh-based PPG is a global supplier of paints, coatings, chemicals, optical products, specialty materials, glass and fiber glass. The company employs more than 34,000 people and has 125 manufacturing facilities and equity affiliates in more than 25 countries. PPG shares are traded on the New York Stock Exchange (symbol: PPG).

NOTE:

Sept 13, 2007 | PPG to sell auto glass businesses to Platinum Equity for approximately $500 million