Ceramic Industry News

PPG Chairman Says Third Quarter EPS Likely to be 50-60 Cents

September 26, 2001
/ Print / Reprints /
/ Text Size+
PPG Industries Chairman and Chief Executive Officer Raymond W. LeBoeuf told employees recently that earnings per share for the third quarter are likely to be 50 to 60 cents compared with 88 cents a year ago. In an e-mail sent to employees worldwide, LeBoeuf said PPG announced last year that the company faced a challenging global business environment. "And the events of the past 12 months have only confirmed this view, including recent announcements of rising unemployment, the spread of economic weakness globally and plans by auto companies to reduce production," LeBoeuf said. "This disappointing news supports our belief that meaningful improvement in the global economy this year is unlikely. And the tragic events of Sept. 11 only add to the uncertainty."

LeBoeuf said PPG anticipated many of this year's economic conditions by quickly acting to lower costs and conserve cash and capital, without sacrificing service and technology. He added that cost-reduction initiatives and previously announced restructuring actions, which are more than 60% complete, will cut costs by more than $70 million before the end of the year.

Visit http://www.ppg.com for more information.

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.



Image Galleries

June 2014 Issue Highlights

Our June 2014 issue is now available!


Manufacturing Day 2014

Manufacturing Day organizers share their insights with Managing Editor Kelsey Seidler.

More Podcasts

Ceramic Industry Magazine

CI September 2014 cover

2014 September

You won't want to miss the CI Top 10, traditionally our most popular article of the year!

Table Of Contents Subscribe


M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!


facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px