PPG Glass Segment Sales Flat in First Quarter 2013

PPG Industries reported first quarter 2013 net sales from continuing operations of $3.3 billion, equal to that of first quarter 2012. First quarter 2013 adjusted net income was $235 million, compared to $216 million for the same period last year, according to a release. Glass segment sales were flat compared to first quarter 2012, coming in at $256 million. Higher flat glass volumes were more than offset by lower fiber glass pricing resulting from reduced demand, according to PPG.

“We continued to experience notable demand divergence among the major regional economies, with activity generally strong in North America, broad growth improvement in Asia and persistent weakness in Europe," said Charles Bunch, PPG chairman and CEO, in the report. “Looking to the second quarter, we anticipate positive momentum in the United States and Asia to continue, while conditions in Europe remain challenging with limited prospects for near-term improvement,” Bunch said.

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