Glass sales down at PPG

Published 23rd July, 2012 by Greg Morris

PPG Industries’ glass segment sales were $273M for Q2 2012, down $1 million from the prior year.

Higher flat glass volumes were offset by lower pricing and the negative impact of foreign currency translation.

Fiber glass pricing declined from previous levels, driven by reduced European and Asian demand.

Segment earnings were $23 million, a decrease of $6 million from the prior-year quarter as a result of lower pricing and lower fiber glass equity earnings

However, the company's overall net sales for Q2 2012 were $4 billion. Net income for the quarter was $362 million. Q2 2011 net sales were $4 billion and net income was $340 million.

Its record earnings were achieved thanks to strong sales in its coatings segments, with demand particularly strong in North America.

Greg Morris

Glass International Editor

Greg Morris has been editor of Glass International and organiser of the Glassman conferences since 2012, specialising in glass packaging. Prior to this he spent five years working in newspaper journalism.