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PPG Industries to reinitiate share repurchase program after JV divestiture

Charles E. Bunch, PPG chairman and CEO stated, “We intend to redeploy the proceeds from the transaction in a timely manner on core business acquisitions and share repurchases. The earnings benefits from this cash deployment are expected to more than offset the reduced earnings from the Transitions Optical divestment. Additionally, we suspended share repurchase activity at the outset of Q2 due to ongoing negotiations, and are now reinitiating repurchases targeting a range of $500M-$750M for the year.”