MIRA INFORM REPORT

Report Date :

24.09.2012

IDENTIFICATION DETAILS

Name :	PPG INDUSTRIES, INC.
Registered Office :	One PPG Place, Allegheny Pittsburgh, PA 15272
Country :	United States
Financials (as on) :	31.12.2011
Year of Establishment :	1883
Legal Form :	Public Parent
Line of Business :	Manufacture of paints, varnishes and similar coatings, printing ink and mastics
No. of Employees :	38,400

RATING & COMMENTS

MIRA’s Rating :

A

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
United States	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

UNITED STATES - ECONOMIC OVERVIEW

The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $48,100. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices increased another 50% between 2006 and 2008. In 2008, soaring oil prices threatened inflation and caused a deterioration in the US merchandise trade deficit, which peaked at $840 billion. In 2009, with the global recession deepening, oil prices dropped 40% and the US trade deficit shrank, as US domestic demand declined, but in 2011 the trade deficit ramped back up to $803 billion, as oil prices climbed once more. The global economic downturn, the sub-prime mortgage crisis, investment bank failures, falling home prices, and tight credit pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, in October 2008 the US Congress established a $700 billion Troubled Asset Relief Program (TARP). The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP; total government revenues from taxes and other sources are lower, as a percentage of GDP, than that of most other developed countries. The wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the US budget deficit and public debt - through 2011, the direct costs of the wars totaled nearly $900 billion, according to US government figures. In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform bill that will extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight. Long-term problems include inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, sizable current account and budget deficits - including significant budget shortages for state governments - energy shortages, and stagnation of wages for lower-income families.

Source : CIA

Company name and address

Top of Form

Bottom of Form

Top of Form

PPG Industries, Inc.

One PPG Place, Allegheny
Pittsburgh, PA 15272
United States
Tel:	412-434-3131
Fax:	412-434-2125
www.ppg.com

Employees:

38,400

Company Type:

Public Parent

Corporate Family:

652 Companies

Traded:

New York Stock Exchange:

PPG

Incorporation Date:

1883

Auditor:

Deloitte & Touche LLP

Financials in:	USD (mil)
Fiscal Year End:	31-Dec-2011
Reporting Currency:	US Dollar
Annual Sales:	14,885.0 ^1
Net Income:	1,095.0
Total Assets:	14,382.0 ^2
Market Value:	17,275.1
	(07-Sep-2012)

Business Description

PPG Industries, Inc. (PPG) is a global supplier of protective and decorative coatings. PPG operates in six business segments: Performance Coatings, Industrial Coatings, Architectural Coatings-EMEA (Europe, Middle East and Africa), Optical and Specialty Materials, Commodity Chemicals and Glass. The Performance Coatings, Industrial Coatings and Architectural Coatings-EMEA segments supply protective and decorative finishes for customers in a range of end use markets, including industrial equipment, appliances and packaging; factory-finished aluminum extrusions and steel and aluminum coils; marine and aircraft equipment; automotive original equipment; and other industrial and consumer products. The Optical and Specialty Materials segment consist of the optical products and silicas businesses. It is a producer and supplier of basic chemicals. Glass segment produces flat glass and continuous-strand fiber glass. The Glass business segment consists of the flat glass and fiber glass businesses. For the six months ended 30 June 2012, PPG Industries, Inc. revenues increased 3% to $7.71B. Net income decreased 34% to $375M. Revenues reflect Performance Coatings segment increase of 5% to $2.39B, Industrial Coatings segment increase of 4% to $2.18B, Architectural Coatings EMEA segment increase of 3% to $1.12B. Net income was offset by Glass segment income decrease of 44% to $31M. Dividend per share increased from $1.12 to $1.16.

Industry

Industry	Chemical Manufacturing
ANZSIC 2006:	1916 - Paint and Coatings Manufacturing
NACE 2002:	2430 - Manufacture of paints, varnishes and similar coatings, printing ink and mastics
NAICS 2002:	32551 - Paint and Coating Manufacturing
UK SIC 2003:	24301 - Manufacture of paints, varnishes and similar coatings
UK SIC 2007:	20301 - Manufacture of paints, varnishes and similar coatings, mastics and sealants
US SIC 1987:	2851 - Paints, Varnishes, Lacquers, Enamels, and Allied Products

Key Executives   (Emails Available)

Name	Title
Charles E. Bunch	Chairman/CEO
David B. Navikas	Senior Vice President, Finance, and Chief Financial Officer
Bob Burgess	Director - Training & Sales Development
Anne Foulkes	Assistant General Counsel and Corporate Secretary
Charles F. Kahle	Vice President - Coatings Research & Development and Chief Technology Officer

Significant Developments

Topic	#*	Most Recent Headline	Date
Mergers & Acquisitions	3	PPG Industries's Commodity Chemicals Business To Merge With Georgia Gulf Corporation	19-Jul-2012
Strategic Combinations	4	PPG Industries Expands JV With Asian Paints Ltd-Reuters	17-Jul-2012
Business Deals	1	Universal Display Corporation And PPG Industries Announces New OLED Supply And Service Agreement	27-Sep-2011
General Products	1	PPG Industries Announces ACCU-TABWastewater Tablets For Aerobic And On-Site Systems	27-Sep-2011
Share Repurchases	1	PPG Industries Announces Repurchase Of 10 Million Shares	21-Oct-2011

* number of significant developments within the last 12 months

>> View All >> View Last 12 Months

News

Title	Date
PPG Industries at Bank of America Merrill Lynch Global Industrials & Materials Conference - Final FD (Fair Disclosure) Wire (4965 Words)	20-Sep-2012
Allegheny County health board delays vote on tougher air quality regulations Pittsburgh Tribune-Review (PA) (494 Words)	19-Sep-2012
Patent Issued for Pigment Dispersions, Related Coating Compositions and Coated Substrates Journal of Engineering (685 Words)	19-Sep-2012
Patent Issued for Nano-Engineered Inks, Methods for Their Manufacture and Their Applications Journal of Engineering (971 Words)	19-Sep-2012
PPG to Announce Third Quarter 2012 Results Oct. 18 Business Wire (413 Words)	19-Sep-2012

Financial Summary

As of 30-Jun-2012

Key Ratios	Company	Industry
Current Ratio (MRQ)	1.57	2.18
Quick Ratio (MRQ)	1.18	1.35
Debt to Equity (MRQ)	1.04	0.82
Sales 5 Year Growth	6.36	6.26
Net Profit Margin (TTM) %	6.82	10.56
Return on Assets (TTM) %	6.83	8.26
Return on Equity (TTM) %	24.01	22.07

Stock Snapshot

Traded: New York Stock Exchange: PPG

As of 7-Sep-2012

   Financials in: USD

Recent Price	113.14	EPS	6.83
52 Week High	114.62	Price/Sales	1.16
52 Week Low	66.43	Dividend Rate	2.36
Avg. Volume (mil)	1.00	Price/Earnings	18.18
Market Value (mil)	17,275.13	Price/Book	5.29
		Beta	1.31

	Price % Change	Rel S&P 500%
4 Week	2.09%	-0.19%
13 Week	9.12%	0.60%
52 Week	51.18%	24.68%
Year to Date	35.51%	18.51%

2 Year Weekly End Price & Volume

>> Stock Report

1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1
2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1

Corporate Overview

Location
One PPG Place, Allegheny
Pittsburgh, PA, 15272
Allegheny County
United States

Tel:	412-434-3131
Fax:	412-434-2125

www.ppg.com

Quote Symbol - Exchange
PPG - New York Stock Exchange
Sales USD(mil):	14,885.0
Assets USD(mil):	14,382.0
Employees:	38,400
Fiscal Year End:	31-Dec-2011

Industry:	Chemical Manufacturing

Incorporation Date:	1883
Company Type:	Public Parent
Quoted Status:	Quoted

Chairman/CEO:	Charles E. Bunch

Industry Codes

ANZSIC 2006 Codes:
1916	-	Paint and Coatings Manufacturing
2010	-	Glass and Glass Product Manufacturing
3323	-	Industrial and Agricultural Chemical Product Wholesaling
1813	-	Basic Inorganic Chemical Manufacturing
1812	-	Basic Organic Chemical Manufacturing
2411	-	Photographic, Optical and Ophthalmic Equipment Manufacturing
1811	-	Industrial Gas Manufacturing
3491	-	Professional and Scientific Goods Wholesaling

NACE 2002 Codes:
2430	-	Manufacture of paints, varnishes and similar coatings, printing ink and mastics
2414	-	Manufacture of other organic basic chemicals
3310	-	Manufacture of medical and surgical equipment and orthopaedic appliances
5146	-	Wholesale of pharmaceutical goods
2613	-	Manufacture of hollow glass
2413	-	Manufacture of other inorganic basic chemicals
5155	-	Wholesale of chemical products
2611	-	Manufacture of flat glass

NAICS 2002 Codes:
32551	-	Paint and Coating Manufacturing
423460	-	Ophthalmic Goods Merchant Wholesalers
327211	-	Flat Glass Manufacturing
339115	-	Ophthalmic Goods Manufacturing
327212	-	Other Pressed and Blown Glass and Glassware Manufacturing
325181	-	Alkalies and Chlorine Manufacturing
424690	-	Other Chemical and Allied Products Merchant Wholesalers
325188	-	All Other Basic Inorganic Chemical Manufacturing
325199	-	All Other Basic Organic Chemical Manufacturing

US SIC 1987:
2851	-	Paints, Varnishes, Lacquers, Enamels, and Allied Products
3229	-	Pressed and Blown Glass and Glassware, Not Elsewhere Classified
5048	-	Ophthalmic Goods
3851	-	Ophthalmic Goods
2819	-	Industrial Inorganic Chemicals, Not Elsewhere Classified
2869	-	Industrial Organic Chemicals, Not Elsewhere Classified
3211	-	Flat Glass
2812	-	Alkalies and Chlorine
5169	-	Chemicals and Allied Products, Not Elsewhere Classified

UK SIC 2003:
24301	-	Manufacture of paints, varnishes and similar coatings
2613	-	Manufacture of hollow glass
3310	-	Manufacture of medical and surgical equipment and orthopaedic appliances
2414	-	Manufacture of other organic basic chemicals
2413	-	Manufacture of other inorganic basic chemicals
5155	-	Wholesale of chemical products
5146	-	Wholesale of pharmaceutical goods
2611	-	Manufacture of flat glass

UK SIC 2007:
20301	-	Manufacture of paints, varnishes and similar coatings, mastics and sealants
3250	-	Manufacture of medical and dental instruments and supplies
4646	-	Wholesale of pharmaceutical goods
2013	-	Manufacture of other inorganic basic chemicals
4675	-	Wholesale of chemical products
2313	-	Manufacture of hollow glass
2311	-	Manufacture of flat glass
2014	-	Manufacture of other organic basic chemicals

Business Description

PPG Industries, Inc. (PPG), incorporated 1883, is a global supplier of protective and decorative coatings. PPG operates in six business segments: Performance Coatings, Industrial Coatings, Architectural Coatings-EMEA (Europe, Middle East and Africa), Optical and Specialty Materials, Commodity Chemicals and Glass. The Performance Coatings, Industrial Coatings and Architectural Coatings- EMEA segments supply protective and decorative finishes for customers in a range of end use markets, including industrial equipment, appliances and packaging; factory-finished aluminum extrusions and steel and aluminum coils; marine and aircraft equipment; automotive original equipment; and other industrial and consumer products. The Optical and Specialty Materials segment consist of the optical products and silicas businesses. PPG is a producer and supplier of basic chemicals. Glass segment produces flat glass and continuous-strand fiber glass. The Glass business segment consists of the flat glass and fiber glass businesses. In June 2011, it acquired Ducol Coatings South Africa (PTY) Ltd. On January 5, 2012, PPG completed the purchase of European coatings company Dyrup A/S from its owner, Monberg & Thorsen. In January 2012, PPG completed the purchase of the coatings businesses of Colpisa Colombiana de Pinturas and its affiliate, Colpisa Equador.

Performance Coatings, Industrial Coatings and Architectural Coatings-EMEA

The Performance Coatings, Industrial Coatings and Architectural Coatings-EMEA segments supplies finishes to the automotive original equipment market (OEM), PPG supplies refinishes to the automotive aftermarket. PPG also serves commercial and residential new build and maintenance markets by supplying coatings to painting and maintenance contractors and directly to consumers for decoration and maintenance. The Performance Coatings reportable segment includes the refinish, aerospace, protective and marine and architectural-Americas and Asia Pacific coatings businesses. The refinish coatings business supplies coatings products for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings for a range of markets and specialty coatings for signs. These products are sold primarily through independent distributors. The aerospace coatings business supplies sealants, coatings, technical cleaners and transparencies for commercial, military, regional jet and general aviation aircraft and transparent armor for military land vehicles. PPG supplies products to aircraft manufacturers and maintenance and aftermarket customers worldwide both on a direct basis and through a Company-owned distribution network. The protective and marine coatings business supplies coatings and finishes for the protection of metals and structures to metal fabricators, heavy duty maintenance contractors and manufacturers of ships, bridges, rail cars and shipping containers. These products are sold through the Company-owned architectural coatings stores, independent distributors and directly to customers.

The architectural coatings-Americas and Asia Pacific business primarily produces coatings used by painting and maintenance contractors and by consumers for decoration and maintenance of residential and commercial building structures. These coatings are sold under a number of brands. Architectural coatings-Americas and Asia Pacific products are sold through a combination of Company-owned stores, home centers, paint dealers, and independent distributors and directly to customers. The architectural coatings-Americas and Asia Pacific business operates about 400 Company-owned stores in North America and about 40 Company-owned stores in Australia. The Industrial Coatings segment consists of the automotive OEM, industrial and packaging coatings businesses. Industrial, automotive OEM and packaging coatings are formulated specifically for the customers’ needs and application methods. The industrial and automotive OEM coatings businesses sell directly to a variety of manufacturing companies. PPG also supplies adhesives and sealants for the automotive industry and metal pretreatments and related chemicals for industrial and automotive applications. PPG has established alliances with Kansai Paint, Helios Group and Asian Paints Ltd. to serve certain automotive original equipment manufacturers in various regions of the world. PPG owns a 60% interest in PPG Kansai Finishes to serve Japanese-based automotive OEM customers in North America and Europe. PPG owns a 60% interest in PPG Helios Ltd. to serve Russian-based automotive OEM customers in Russia and the Ukraine. PPG and Asian Paints currently each own a 50% interest in Asian PPG Paints to serve global and domestic-based automotive OEM customers in India. The packaging coatings business supplies coatings and inks to the manufacturers of aerosol, food and beverage containers. The Architectural Coatings-EMEA business supplies a variety of coatings under a number of brands and purchased sundries to painting contractors and consumers in Europe, the Middle East and Africa. Architectural Coatings -EMEA products are sold through a combination of about 650 Company-owned stores, home centers, paint dealers, and independent distributors and directly to customers.

The Company competes with Akzo Nobel N.V., BASF Corporation, E.I. duPont de Nemours and Company, Hempel A/S, the Jotun Group, Masco Corporation, the Sherwin-Williams Company, Valspar Corporation, Nippon Paint, Materis Paints and GKN plc.

Optical and Specialty Materials

The primary Optical and Specialty Materials products are Transitions lenses, optical lens materials and sunlenses; amorphous precipitated silicas for tire, battery separator and other end-use markets; and Teslin substrate used, in such applications as radio frequency identification (RFID) tags and labels, E-passports, drivers’ licenses and identification cards. Transitions lenses are processed and distributed by PPG’s 51%-owned joint venture with Essilor International.

The Company competes with Vision-Ease Lens, Carl Zeiss AG, Corning, Inc., Hoya Corporation, Mitsui Chemicals, Inc., Rhodia, S.A., J.M. Huber and Evonik Industries, A.G.

Commodity Chemicals

The Commodity Chemicals segment produces chlor-alkali and derivative products, including chlorine, caustic soda, vinyl chloride monomer, chlorinated solvents, calcium hypochlorite, ethylene dichloride, hydrochloric acid and phosgene derivatives. Most of these products are sold directly to manufacturing companies in the chemical processing, plastics, including polyvinyl chloride (PVC), paper, minerals, metals and water treatment industries.

The Company competes with The Dow Chemical Company, Formosa Plastics Corporation, U.S.A., Georgia Gulf Corporation, Occidental Chemical Corporation, Olin Corporation, Shintech, Inc and Westlake Chemical Corporation.

Glass

PPG is a producer of flat glass in North America and a global producer of continuous-strand fiber glass. PPG’s markets are commercial and residential construction and the wind energy, energy infrastructure, transportation and electronics industries. Most glass products are sold directly to manufacturing companies. PPG manufactures flat glass by the float process and fiber glass by the continuous-strand process.

The Company competes with Asahi Glass Company, Cardinal Glass Industries, Guardian Industries, NSG Pilkington, Owens Corning-Vetrotex, Jushi Group, Johns Manville Corporation, CPIC Fiberglass, AGY, NEG, 3B and Taishan Fiberglass

More Business Descriptions

PPG Industries, Inc. (PPG) is a global supplier of protective and decorative coatings. PPG operates in six business segments: Performance Coatings, Industrial Coatings, Architectural Coatings-EMEA (Europe, Middle East and Africa), Optical and Specialty Materials, Commodity Chemicals and Glass. The Performance Coatings, Industrial Coatings and Architectural Coatings-EMEA segments supply protective and decorative finishes for customers in a range of end use markets, including industrial equipment, appliances and packaging; factory-finished aluminum extrusions and steel and aluminum coils; marine and aircraft equipment; automotive original equipment; and other industrial and consumer products. The Optical and Specialty Materials segment consist of the optical products and silicas businesses. It is a producer and supplier of basic chemicals. Glass segment produces flat glass and continuous-strand fiber glass. The Glass business segment consists of the flat glass and fiber glass businesses. For the six months ended 30 June 2012, PPG Industries, Inc. revenues increased 3% to $7.71B. Net income decreased 34% to $375M. Revenues reflect Performance Coatings segment increase of 5% to $2.39B, Industrial Coatings segment increase of 4% to $2.18B, Architectural Coatings EMEA segment increase of 3% to $1.12B. Net income was offset by Glass segment income decrease of 44% to $31M. Dividend per share increased from $1.12 to $1.16.

Paints, Flat Glass, Auto & Aircraft Glass, Fiberglass & Chemicals Mfr & Supplier

Establishments primarily engaged in manufacturing paints (in paste and ready-mixed form); varnishes; lacquers; enamels and shellac; putties, wood fillers, and sealers; paint and varnish removers; paint brush cleaners; and allied paint products.

PPG Industries is a leader in its markets; is a streamlined efficient manufacturer; and operates on the leading edge of new technologies and solutions. It is our vision to continue being the worlds leading coatings and specialty products and services company serving customers in construction consumer products industrial and transportation markets and aftermarkets. PPG has manufacturing facilities and equity affiliates in more than 60 countries around the globe.

PPG Industries, Inc. (PPG) manufactures and markets coatings and specialty products and services. It provides a wide variety of products and services to customers in construction, consumer products, industrial and transportation markets and after markets. PPG owns manufacturing facilities and affiliates in over 60 countries across the world. The company conducts its business operations through six segments namely, Performance Coatings; Industrial Coatings; Architectural Coatings EMEA (Europe, Middle East and Africa); Optical and Specialty Materials, Commodity Chemicals and Glass. The Performance Coatings segment comprises aerospace, refinish and protective and marine coatings businesses. It also includes architectural coatings businesses in the Americas and Asia Pacific. In refinish coatings business, it supplies products for automotive and fleet repair and refurbishing and light industrial coatings for various markets. The aerospace coatings business provides coatings, sealants, paint strippers, technical cleaners, transparent armor and transparencies for commercial, military, general aviation aircraft and regional jet. The protective and marine coatings business offers coatings and finishes for protection of metals and structures to steel and metal fabricators; manufacturers of ships, rail cars and shipping containers; and heavy duty maintenance contractors. The architectural coatings business manufactures coatings for painting and maintenance contractors. It markets products through the company’s own stores, independent distributors, home centers and paint dealers. The segment’s key manufacturing and distribution facilities are located at Clayton, Australia; Delaware, Ohio, the US; Dover, Delaware, the US; Huntsville, Alaska, the US; Kunshan, China; Stowmarket, the UK; and Sylmar, California, the US. For the fiscal year ended 2011, the company reported revenue of $4,626m from the Performance Coatings segment, reflecting a increase of 8% over revenue in 2010. The segment accounted for 35.8% of the company’s total revenue in 2011.Industrial Coatings segment includes industrial, automotive and packaging coatings businesses. In the automotive and industrial coatings business, the company offers adhesives, sealants to the automotive industry. It also provides metal pretreatments and related chemicals for industrial and automotive applications. The packaging coatings business supplies coatings and inks for food, beverages and aerosol containers for consumer products. The key manufacturing and distribution facilities of the segment are located in Cieszyn, Poland; Cleveland, Ohio, the US; Oak Creek, Wisconsin, the US; Tianjin, China; Quattordio, Italy; San Juan del Rio, Mexico; Sumare, Brazil and Busan, South Korea. For the fiscal year ended 2011, the company reported revenue of $4,158m from the Industrial Coatings segment, reflecting a increase of 12.1% over revenue in 2010. The segment accounted for 27.9% of the company’s total revenue in 2011.The Architectural Coatings EMEA business segment of the company offers coatings to painting contractors and consumers in Europe, Middle East and Africa. The key manufacturing and distribution centers of the segment are located in Moreuil, France; Ruitz, France; Budapest, Hungary; Amsterdam, Netherlands; Wroclaw, Poland; and Birstall, the UK. The segment markets its products through a combination of 650 company-owned stores, independent distributors, home centers, paint dealers, and directly to customers. For the fiscal year ended 2011, the company reported revenue of $2,104m from the Architectural Coatings EMEA segment, reflecting a increase of 12.2% over revenue in 2010. The segment accounted for 14.1% of the company’s total revenue in 2011.PPG’s Optical and Specialty Materials segment comprises optical products and silica businesses. The products offered include sunlenses, transitions lenses, polarized film and optical materials; battery separator, amorphous precipitated silicas for tire and other end-use markets; and teslin synthetic printing sheet for waterproof labels, e-passports, identification cards and drivers’ licenses. The segment’s manufacturing and distribution facilities are located in Barberton, Ohio, the US; Bangkok, Thailand; Lake Charles, Louisiana, the US; and Manila, Philippines. For the fiscal year ended 2011, the company reported revenue of $1,204m from the Optical and Specialty Materials segment, reflecting a increase of 5.5% over revenue in 2010. The segment accounted for 8.1% of the company’s total revenue in 2011.The company, through its Commodity Chemicals segment, manufactures chlor-alkali and derivative products such as caustic, chlorine, soda, vinyl chloride monomer, ethylene dichloride, chlorinated benzenes, calcium hypochlorite, chlorinated solvents, and phosgene derivatives. Its manufacturing and distribution facilities are located in Lake Charles, Louisiana, the US; and Natrium, West Virginia, the US. For the fiscal year ended 2011, the company reported revenue of $1,732m from the Commodity Chemicals segment, reflecting a increase of 20.7% over revenue in 2010. The segment accounted for 11.6% of the company’s total revenue in 2011.PPG's Glass business segment includes flat glass and fiber glass businesses. The products cater to commercial and residential construction, transportation, wind energy, energy infrastructure and electronics industries. The segment’s manufacturing and distribution facilities are located in Carlisle, Pennsylvania, the US; Hoogezand, Netherlands; Shelby, North Carolina, the US, and Wichita Falls, Texas, the US. For the fiscal year ended 2011, the company reported revenue of $1,061m from the Glass segment, reflecting a increase of 7.7% over revenue in 2010. The segment accounted for 7.1% of the company’s total revenue in 2011.The company spent $445m for its research and development activities for the fiscal year ended 2011. PPG’s manufacturing facilities, R&D centers, sales offices and distribution centers are spread across several countries in the world. The company has 128 manufacturing facilities in 45 countries. Geographically, the company operates in three regions, namely, the Americas which comprises the US and Other Americas; Europe, Middle East and Africa (EMEA); and Asia. For the fiscal year ended 2011, the US accounted for 41.7% of the company's total revenue, followed by EMEA with 33.9%, Asia with 16.9% and Other Americas with 7.5% revenue. In February 2012, the company introduced Colorclix, the mobile app for WINDOWS Phone, which allows users to select any colors from more than 1,200 OLYMPIC(R) Paint colors. In January 2012, the company through its subsidiary, PPG Industries Colombia, acquired the coatings businesses of Colpisa Colombiana de Pinturas and its affiliates. The company also acquired Dyrup A/S, an European coatings company, based in Copenhagen, Denmark, from Monberg & Thorsen. In November 2011, the company established colour design centre in London to accelerate colour design and prototype development. In September 2011, the company and Universal Display Corporation entered into a new organic light-emitting diode materials supply and service agreement. In August 2011, the company established a joint venture with Harsha Exito Engineering Private Limited for the manufacture and sale of fiber glass reinforcement products.

PPG Industries, Inc. (PPG) is a chemical manufacturing company. It carries out the manufacture and sale of coatings and specialty products. The company provides protective and decorative coatings and finishes to customers in construction, consumer products, industrial and transportation and after markets. It also offers chlor-alkali and derivatives, optical products, fiber glass and precipitated silica. PPG sells its products through its own stores, home centers and independent dealers. The company operates manufacturing facilities, affiliates and subsidiaries in various countries, including Argentina, Brazil, Canada, India, Japan, Taiwan, Thailand, China, England, Australia, Germany, France, the US and Venezuela. PPG is headquartered in Pittsburgh, Pennsylvania, the US. The company is commited towards global growth in coatings segment. In line to this, it acquired Colpisa Colombiana de Pinturas and Dyrup A/S. PPG also aims to expand its presence in India, to drive demand for fiber glass in end-use applications such as infrastructure, transportation and wind energy.The company reported revenues of (U.S. Dollars) USD 14,885.00 million during the fiscal year ended December 2011, an increase of 10.89% over 2010. The operating profit of the company was USD 1,597.00 million during the fiscal year 2011, an increase of 23.32% over 2010. The net profit of the company was USD 1,095.00 million during the fiscal year 2011, an increase of 42.39% over 2010.

PPG Industries Inc (USA) is an international producer of coatings, glass, fibreglass and chemicals for the industrial, decorative and commercial use. PPG's coatings businesses manufacture automotive and aerospace coatings, auto refinishes, adhesives and sealants, factory-applied coatings for appliances, building components and a broad range of industrial applications, packaging coatings and decorative, maintenance and other architectural coatings.

PPG Industries is a global supplier of coatings, glass, fiberglass and chemicals. Its coatings are used by customers in the transportation; commercial and residential construction and remodeling; and maintenance, appliance, packaging and industrial markets. The company's glass serves the motor vehicle; commercial and residential construction; industrial; and insurance claims management. Its chemicals are used by pharmaceutical, optical, industrial, and pulp and paper markets. Charles E. Bunch has been the chief executive officer of PPG Industries for more than one year. He has been with the chemical company for over 27 years. Bunch earned a BS degree from Georgetown University, and a MBA from Harvard. PPG Industries has headquarters in Pittsburgh and trades on the New York Stock Exchange under the symbol PPG. The company has more than 45 production facilities in the United States and 108 throughout the world, including subsidiaries, joint ventures and equity affiliates.

This company is the parent of high-tech units involved in glass, fiberglass, coatings and chemicals.

Product Codes

Product Code	Product Description
ZZZ-HC	Parent/Holding company

Brand/Trade Names

Harlequin - Paints Hide-A-Spray - Paints, now out of production Inside/Outside - Enamels, now out of production Lisbon - Brushes - paint, now out of production Manor Hall - Paints Oilfield - Brushes - paint, now out of production Oriole - Brushes - paint, now out of production Pitthane - Paints Prist - Fuel additives Regena - Brushes - paint, now out of production Silhouette - Doors - wood, now out of production Spandrelite - Glass - flat Steelbound - Brushes - paint, now out of production The Management Control Series - Computer software Valor - Brushes - paint, now out of production Walflat - Paints, now out of production Highland - Brushes - paint, now out of production Intercept - Building materials Litchfield - Brushes - paint, now out of production Marathon - Paints Ok - Brushes - paint, now out of production P.B.X. - Paints, now out of production Pittpon - Epoxy coatings, now out of production Prizmatique - Paints Rez - Adhesives and sealants Smite - Herbicides, now out of production Spectraclad - Glass - flat Sun-Proof - Paints Thermax - Paints Velvecron - Paints Wallhide - Paints, now out of production Lightning - Brushes - paint, now out of production Lowell - Brushes - paint, now out of production Midasnet - Computer peripheral equipment Olympic Stain - Paints Pittabs - Water treating compounds Ppg Aircraft Products: We Build Confidence - Air transportation Raycron - Paints, now out of production Satinhide - Enamels Solargray - Glass - flat Stafford - Brushes - paint, now out of production Sustain - Swimming pools Truform - Paints Vertiglas - Glass - flat, now out of production Webite - Enamels, now out of production Acrynar - Coatings Aircon - Glass products Barnhide - Paints, now out of production Aerolite - Glass - safety Baltimore Special - Brushes - paint, now out of production Black Filler - Brushes - paint, now out of production A.L.E. - Paints, now out of production Alcarez - Adhesives and sealants, now out of production Barreled Sunlight - Paints, now out of production Cedar Rez - Adhesives and sealants, now out of production Conrad - Brushes - paint, now out of production Aerohide - Paints, now out of production Autoprime - Primers Black Empire - Brushes - paint, now out of production Clay Rex - Adhesives and sealants, now out of production Acoustolight - Paints Aquaneo - Paints, now out of production Bay State - Brushes - paint, now out of production Chemform - Coatings Consumers - Brushes - paint, now out of production Cortland - Brushes - paint, now out of production Acryli-Clean - Wax removers Aquapel - Chemical preparations Bergen - Brushes - paint, now out of production Chemhoe - Herbicides, now out of production Conway - Brushes - paint, now out of production Count - Brushes - paint, now out of production Elegante - Paints, now out of production Fairfax - Brushes - paint, now out of production Fenton - Brushes - paint Florhide - Enamels, now out of production Helpful - Brushes - paint, now out of production Af - Flowers - artificial Bantam - Brushes - paint, now out of production Bonded - Brushes - paint, now out of production Commander - Brushes - paint, now out of production Corbin - Brushes - paint, now out of production Diamond Coat - Paints Extra White - Brushes - paint, now out of production Famous - Brushes - paint, now out of production Fidelity - Brushes - paint, now out of production Glide-A-Mirror - Doors - glass, now out of production Hestron - Glass products, now out of production Hulltek - Paints, now out of production Aquapon - Paints Black Beauty - Brushes - paint, now out of production Chemic - Enamels, now out of production Coral - Brushes - paint, now out of production De Signar - Paints Enamelhide - Paints, now out of production Fairlee - Brushes - paint, now out of production Fenwick - Brushes - paint, now out of production Forite - Enamels, now out of production Herculite - Glass products Hilton - Brushes - paint, now out of production Intercept - Insulating materials London - Brushes - paint, now out of production Maxichop - Glass products Ok Mikado - Brushes - paint, now out of production

Painthide - Paints, now out of production Pittsburgh - Paints Production - Computer peripheral equipment Rigiduct - Glass - flat, now out of production Solarban - Glass - flat Speedhide - Paints Sungate - Glass products Titanic - Paints, now out of production Ventnor - Brushes - paint, now out of production Watchguard - Glass - flat, now out of production Colton - Brushes - paint, now out of production Corbett - Brushes - paint, now out of production Designacolor - Paints Estimate Plus - Computer software Fallon - Brushes - paint Ferris - Brushes - paint, now out of production Galvahide - Paints, now out of production Hercuvit - Glass products, now out of production Holtite - Brushes - paint, now out of production Leptyne - Paints Longstroke - Brushes - paint, now out of production Metalhide - Paints Olympic Overcoat - Paints Pitt-Glaze - Finishing agents Ppg - Paints Raybake Plastox - Enamels, now out of production Safe And Sound - Windshields - glass Solarcool - Glass products Squeegee - Paints, now out of production Surface Seal - Detergents Trim-Bond - Motor vehicle parts and accessories Verona - Brushes - paint, now out of production Weatherpane - Windows - storm, now out of production Bud Nip - Garden equipment Concept - Paints Corona - Brushes - paint, now out of production Diamond Flex - Coatings Extra Winner - Brushes - paint, now out of production Felden - Brushes - paint, now out of production Filly - Brushes - paint, now out of production Glimmer - Water treating compounds Heviduty - Brushes - paint, now out of production Ice Kote - Varnishes Linwood - Brushes - paint, now out of production Luminescence - Paints Mildew-Check - Cleaning preparations - household Orchard - Brushes - paint, now out of production Pittchlor - Disinfectants Ppg High Fidelity - Mirrors Red Stripe - Brushes - paint, now out of production Satinprime - Paints, now out of production Solex - Glass - flat Stanley - Brushes - paint, now out of production Syn-Amel - Enamels, now out of production Twindow - Glass - window Vesta - Brushes - paint Zetamat - Glass products Coronet - Brushes - paint, now out of production Duracryl - Coatings Factory - Brushes - paint, now out of production Felix - Brushes - paint, now out of production Finch - Brushes - paint, now out of production Gutta Percha - Paints, now out of production Hi-Gard - Recording label Inovar - Varnishes, now out of production Lion - Brushes - paint, now out of production Man Gill Chemical - Chemical preparations Mpm - Glass products Oregon - Brushes - paint, now out of production Pittcomatic - Glass - flat, now out of production Ppg: We Build Confidence - Motor vehicle parts and accessories Regal - Brushes - paint, now out of production Selectron - Paints, now out of production Solextra - Windshields - glass Steel Pak - Metals Tephram - Fibers - acrylic Two Star - Paint removers, now out of production Visenza - Lenses - optical, now out of production Corashield - Paints Delfleet - Paints Envirocron - Paints Fairway - Brushes - paint Fergus - Brushes - paint, now out of production Funguside - Paints, now out of production Herculite K - Glass - safety Holdfast - Brushes - paint, now out of production Ironhide - Paints, now out of production Longlast - Brushes - paint, now out of production Metaleaf - Paints, now out of production Olympic - Brushes - paint, now out of production Performance 10 - Glass products Poly-Si - Paints Raybake - Enamels, now out of production Rio - Brushes - paint, now out of production Solarbronze - Glass - flat Spruce - Brushes - paint, now out of production Sunshade - Glass - flat Touchmix - Computer hardware Vernon - Brushes - paint, now out of production Waterspar - Paints, now out of production Dye House - Enamels, now out of production Fairchild - Brushes - paint, now out of production Feneshield - Yarn Flo-On - Paint rollers

Financial Data

Financials in:	USD(mil)
Revenue:	14,885.0
Net Income:	1,095.0
Assets:	14,382.0
Long Term Debt:	3,574.0
Total Liabilities:	11,133.0
Working Capital:	2.0
Date of Financial Data:	31-Dec-2011

1 Year Growth

10.9%

42.4%

-4.0%

Market Data

Quote Symbol:	PPG
Exchange:	New York Stock Exchange
Currency:	USD
Stock Price:	113.1
Stock Price Date:	09-07-2012
52 Week Price Change %:	51.2
Market Value (mil):	17,275,130.0
SEDOL:	2698470
ISIN:	US6935061076
Equity and Dept Distribution:
Common Stock $1.66 2/3 Par, 03/11, 600M auth., 158,152,134 o/s, net of shs. Treas. @ $4.96B. Insiders own 0.30%. PO:5/72, 2M shares @$45 1/4 by First Boston Corp.6/94, 2-for-1 stock split.

Key Corporate Relationships

Auditor:	Deloitte & Touche LLP
Bank:	Macquarie Equipment Finance, Michigan Air Compressor LLC, Citibank, Deutsche Bank Americas, First Eagle National Bank, Hi-Tech Mold & Engine Inc, ExxonMobil Chemical Co, Key Equipment Finance, Bank Of America, Bank Of America Mortgage, Cowen & Co LLC, Hyundai Motor America Manufacturing, ITW Signode Packaging Systems, Kensington Capital Corp, GE Apparatus Services Center, Evonik Degussa Corp
Auditor:	Deloitte & Touche LLP

Additional information
Fortune 1000 Rank:	180

PPG Industries, Inc.

The Strategic Initiatives report is created using technology to extract meaningful insights from analyst reports about a company's strategic projects and investments. More about Strategic Initiatives

Strategic Initiatives

Key Organizational Changes

The company believes that the outcome of all the lawsuits and claims against it including asbestos-related claims, unless settled will not have a material effect on the consolidated financial position or liquidity of the company. However, a legal proceeding, regardless of the outcome, could drain the financial resources and divert the time and effort of any management.Key AcquisitionsStrategic acquisitions offer a strong growth opportunity for the company, especially when it is entering new markets or launching new products or services. Along with its subsidiary, PPG Colombia, the company plans to acquire the coatings businesses of Colpisa Colombiana de Pinturas, a privately-owned coatings company, and its affiliates, including Colpisa Ecuador. It also finalized the purchase agreement to acquire Dyrup A/S, a Denmark-based coatings company. In June 2011, the company acquired the business of Ducol Coatings South Africa (PTY) Ltd that serves as an importer and distributor of PPG’s automotive refinish products in South Africa.
Source: GlobalData, August 8, 2012

In March 2011, the company reached an agreement to acquire Equa-Chlor, Inc., a manufacturer of chlorine, caustic soda and muriatic acid. Through these acquisitions, the company intends to strengthen market position, technical expertise and product portfolio.Strategic ExpansionThe expansion of the company’s production process would enable it to attain enhanced product base. The company plans to expand its 14-year relationship with Asian Paints Ltd. (APL), India’s largest coatings company. PPG intends to increase the performance of non-decorative coatings businesses in India.
Source: GlobalData, August 8, 2012

Partnerships

(APL), India’s largest coatings company. PPG intends to increase the performance of non-decorative coatings businesses in India. Together, PPG and APL, have plans to expand their existing 50-50 joint venture, Asian PPG Industries (APPG), as well as to establish a second 50-50 joint venture. Through this expansion, the company intends to target the protective, industrial powder, industrial containers, industrial liquid, marine and consumer packaging and light industrial coatings markets. In August 2011, the company signed an agreement with Harsha Exito Engineering Private Limited (India) for establishing a 50-50 joint venture for the production and sale of fiber glass reinforcement products.
Source: GlobalData, August 8, 2012

Sales and Distribution

We completed the previously announced acquisitions of Dyrup and Colpisa in January 2012 to strengthen our coatings businesses by broadening their product offerings and extending their operations into new geographic areas. The sales of these businesses in 2011 were approximately $300 million. We anticipate making additional acquisitions in 2012 as part of our strategy for accelerating growth. We will remain disciplined and deploy our cash in ways that will support future earnings growth, and we are targeting to end 2012 with less than $1 billion in cash and short-term investments. Our current economic outlook for 2012 is for global growth to continue, but we expect it to be uneven by region.
Source: GlobalData, August 8, 2012

Location
1 Ppg Pl Pittsburgh, PA 15272-0001 United States
County:	Allegheny
MSA:	Pittsburgh, PA
Phone:	412-434-3131
Fax:	412-434-3744
URL:	http://ppg.com
ABI^©:	007530124
Annual Sales:	$14,885,000,000 (USD)
Employees:	38,400
Facility Size(ft^2):	40,000+
Business Type:	Public
Location Type:	Headquarter
Ticker:	PPG
Exchange:	NYSE

Primary Line of Business:
SIC:	2851-03 - Paint-Manufacturers
NAICS:	325510 - Paint & Coating Mfg
Secondary Lines of Business:
NAICS:	541613 - Marketing Consulting Svcs
SICs:	8742-13 - Marketing Programs & Services
	9999-66 - Federal Government Contractors

Corporate Structure News

PPG Industries, Inc.
Total Corporate Family Members: 652

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
PPG Industries, Inc.	Parent	Pittsburgh, PA	United States	Chemical Manufacturing	14,885.0	38,400
PPG Industries, Inc./ Fiber Glass Division	Division	Pittsburgh, PA	United States	Textiles - Non Apparel		14,000
SigmaKalon Group	Subsidiary	AD Uithoorn	Netherlands	Miscellaneous Fabricated Products	2,064.4	10,400
Decorative Coatings France	Subsidiary	Rueil-Malmaison Cedex	France	Chemical Manufacturing	541.0	2,500
Sigmakalon UK Holding Ltd.	Subsidiary	Batley	United Kingdom	Business Services		1,830
Johnstone's Paints Ltd.	Subsidiary	Carrickfergus	United Kingdom	Business Services		43
Johnstone's Paints	UK Branch/Trading address	Preston	United Kingdom	Construction - Raw Materials		7
Johnstone Paint	UK Branch/Trading address	Wolverhampton	United Kingdom	Construction - Raw Materials		5
Johnstone's Paints	UK Branch/Trading address	Salford	United Kingdom	Construction - Raw Materials		4
Johnstone's Paints	UK Branch/Trading address	Stockport	United Kingdom	Construction - Raw Materials		2
Hawthorndale Ltd.	Subsidiary	Batley	United Kingdom	Real Estate Operations
Ppg Performance Coatings UK Ltd.	Subsidiary	Batley	United Kingdom	Business Services	3.3	32
Kalon Pension Trustees Ltd.	Subsidiary	Batley	United Kingdom	Business Services
Sigma Paints SA Ltd	Affiliates	Dammam	Saudi Arabia	Chemical Manufacturing	42.9	350
Prominent Paints (Pty) Ltd	Affiliates	Alberton	South Africa	Chemical Manufacturing	18.0	200
Sigma Marine & Protective Coatings Poland	Subsidiary	Gdynia	Poland	Chemical Manufacturing	18.0	100
Performance Coating (M) Sdn Bhd	Subsidiary	Shah Alam, Selangor	Malaysia	Miscellaneous Capital Goods	17.0	100
PPG Industries Chemicals B.V.	Subsidiary	Delfzijl	Netherlands	Chemical Manufacturing	45.2	52
Ppg Coatings B.V.	Subsidiary	Tiel, Gelderland	Netherlands	Chemical Manufacturing	38.3	48
PPG Coatings Danmark AS	Subsidiary	Koge	Denmark	Chemical Manufacturing	0.0	27
Farveriget A/S	Subsidiary	Søborg	Denmark	Retail (Home Improvement)	0.0	15
Sigmakalon (Bc) Uk Ltd.	Subsidiary	Peterborough	United Kingdom	Commercial Banks		5
Ppg Coatings (Ac And Pc) Pension Trustee Ltd.	Subsidiary	Batley	United Kingdom	Business Services
SigmaKalon Services BV	Subsidiary	Uithoorn	Netherlands	Chemical Manufacturing	875.0
Sigmakalon Grand Public	Subsidiary	Rueil-Malmaison	France	Chemical Manufacturing	450.0
PPG Coatings Nederland BV	Subsidiary	Uithoorn	Netherlands	Chemical Manufacturing	484.5
Ppg Coatings Europe B.V.	Subsidiary	Amsterdam, Noord-Holland	Netherlands	Chemical Manufacturing		136
PPG Industries Fiber Glass BV	Subsidiary	Hoogezand	Netherlands	Construction - Supplies and Fixtures	124.6
Varossieau Suriname NV	Subsidiary	Paramaribo	Suriname	Chemical Manufacturing	5.4
Sigma Marine & Protective Coatings Holding B.V	Subsidiary	Uithoorn, Noord-Holland	Netherlands	Investment Services
Ppg Ssc Co., Ltd.	Subsidiary	Ulsan	Korea, Republic of	Chemical Manufacturing	202.1	289
Ppg Industries Colombia Ltda	Subsidiary	Cota, Cundinamarca	Colombia	Chemical Manufacturing	15.1	27
Ppg Performance Coatings (Malaysia) Sdn Bhd	Subsidiary	Shah Alam, Selangor	Malaysia	Chemical Manufacturing	33.1
Sigma Coatings Bulgaria	Subsidiary	Varna	Bulgaria	Chemical Manufacturing
PPG Industries, Inc./ Coatings Group	Division	Pittsburgh, PA	United States	Chemical Manufacturing		10,000
PPG Canada Inc.	Subsidiary	Mississauga, ON	Canada	Construction - Supplies and Fixtures	660.0	2,100
PPG Industries Inc	Branch	Shelby, NC	United States	Miscellaneous Fabricated Products	1,026.0	1,800
PPG Architectural Coatings EMEA	Subsidiary	Uithoorn	Netherlands	Chemical Manufacturing		1,800
PPG Architectural Coatings	Subsidiary	Manage	Belgium	Chemical Manufacturing		300
PPG Architectural Coatings	Subsidiary	Rueil-Malmaison	France	Chemical Manufacturing		80
PPG Industries Inc	Branch	Westlake, LA	United States	Chemical Manufacturing	1,130.8	1,658
PPG Industries, Inc./ Chemicals Group	Division	Pittsburgh, PA	United States	Chemical Manufacturing		1,494
PPG Industries Australia Pty Ltd	Subsidiary	Clayton, VIC	Australia	Chemical Manufacturing	347.3	1,245
Protec Pty. Ltd.	Subsidiary	Adelaide	Australia	Chemical Manufacturing	12.6	214
PPG Industries Lackfabrik GmbH	Subsidiary	Wuppertal, Nordrhein-Westfalen	Germany	Chemical Manufacturing	39.3	1,200
PPG Coatings Deutschland GmbH	Subsidiary	Bochum, Nordrhein-Westfalen	Germany	Chemical Manufacturing	94.2	250
PPG Deutschland Sales & Services GmbH	Subsidiary	Wuppertal, Nordrhein-Westfalen	Germany	Construction - Raw Materials		150
PPG Aerospace	Division	Sylmar, CA	United States	Chemical Manufacturing	5.0	1,200
Sierracin Corporation	Subsidiary	Sylmar, CA	United States	Aerospace and Defense	75.0	600
PRC-DeSoto International, Inc.	Subsidiary	Glendale, CA	United States	Chemical Manufacturing		650
Sierracin/ Harrison	Division	Burbank, CA	United States	Fabricated Plastic and Rubber		70
PPG Aerospace	Branch	Huntsville, AL	United States	Construction - Supplies and Fixtures	74.2	600
PRC-De Soto International Inc	Branch	Mojave, CA	United States	Retail (Home Improvement)	75.7	260
PPG Aerospace	Branch	Indianapolis, IN	United States	Retail (Specialty)	21.7	50
PPG Aerospace	Branch	Grand Prairie, TX	United States	Retail (Specialty)	17.4	40
PPG Aerospace	Branch	Woodinville, WA	United States	Business Services	5.6	40
ASC Philadelphia	Branch	Mt Laurel, NJ	United States	Chemical Manufacturing	21.0	21
PPG Aerospace	Branch	Eagan, MN	United States	Retail (Specialty)	4.3	10
PPG Industries Lackfabrik GmbH	Subsidiary	Wuppertal	Germany	Chemical Manufacturing	577.8	1,100
Dyrup A/S	Subsidiary	Søborg	Denmark	Chemical Manufacturing	256.0	959
Tintas Dyrup SA	Subsidiary	Sacavém, Lisboa	Portugal	Chemical Manufacturing	42.7	187
Dyrup S.A.S.	Subsidiary	Nanterre, Hauts-de-Seine	France	Chemical Manufacturing	85.8	149
Dyrup GmbH	Subsidiary	Mönchengladbach, Nordrhein-Westfalen	Germany	Chemical Manufacturing	39.9	100
Dyrup Sp. z.o.o.	Subsidiary	Lodz	Poland	Chemical Manufacturing		60
Pinturas Dyrup Sa	Subsidiary	Barbera Del Valles, Barcelona	Spain	Chemical Manufacturing	17.9	59
PPG Industries Inc	Branch	New Martinsville, WV	United States	Retail (Home Improvement)	232.8	800
PPG Industries Inc	Branch	Oak Creek, WI	United States	Chemical Manufacturing	444.5	700
PPG Industries SpA	Subsidiary	Quattordio, AL	Italy	Chemical Manufacturing	104.1	632
Ampaspace SRL	Subsidiary	Casaletto Vaprio, Cremona	Italy	Fabricated Plastic and Rubber	10.9	39
PPG Industries Inc	Branch	Lexington, NC	United States	Miscellaneous Fabricated Products	356.3	625
PPG Industries Ohio, Inc.	Subsidiary	Cleveland, OH	United States	Chemical Manufacturing	174.6	602
PPG Industries Inc	Branch	Crestline, OH	United States	Construction - Supplies and Fixtures	124.6	470
PPG Industries Inc	Branch	Allison Park, PA	United States	Retail (Home Improvement)	116.4	400
PPG Industries Inc	Branch	Wichita Falls, TX	United States	Construction - Supplies and Fixtures	106.0	400
PPG Protective & Marine Coatings Group	Division	Alpharetta, GA	United States	Chemical Manufacturing		400
PPG Korea	Subsidiary	Busan	Korea, Republic of	Chemical Manufacturing		380
PPG Industries France SAS	Subsidiary	Marly	France	Chemical Manufacturing	214.1	374
Ppg Industries International Inc	Subsidiary	Puteaux	France	Personal Services	20.8	46
PPG Industries Inc	Branch	Carlisle, PA	United States	Retail (Home Improvement)	70.4	350
PPG Industries de México, S.A. de C.V.	Subsidiary	San Juan del RÃo, Querétaro	Mexico	Chemical Manufacturing		325
PPG Automotive Finishes	Branch	Delaware, OH	United States	Retail (Home Improvement)	87.3	300
PPG Industries France SAS	Subsidiary	Saultain	France	Chemical Manufacturing		300
PPG Industries Inc	Branch	Creighton, PA	United States	Retail (Home Improvement)	56.3	280
PPG Italia Business Support S.r.l	Subsidiary	Milan	Italy	Business Services	33.2	280
Brown Brothers Distribution Ltd.	Subsidiary	Grimsby	United Kingdom	Chemical Manufacturing	46.2	266
Brown Brothers Distribution Ltd.	UK Branch/Trading address	Basingstoke	United Kingdom	Chemical Manufacturing	46.2	9
Ppg Iberica Sa	Subsidiary	Rubi, Barcelona	Spain	Chemical Manufacturing	37.6	255
Ppg Iberica Sales & Services Sl	Subsidiary	Rubi, Barcelona	Spain	Construction - Raw Materials	187.6	215
Ppg Iberica Business Support Sl	Subsidiary	Rubi, Barcelona	Spain	Business Services	8.9	90
PPG Coatings Deutschland GmbH	Subsidiary	Bochum	Germany	Chemical Manufacturing	92.7	250
PPG Industries Inc	Branch	Circleville, OH	United States	Retail (Home Improvement)	72.8	250
Zach System	Subsidiary	Avrille	France	Chemical Manufacturing	50.6	224
PPG Industries Inc	Branch	Mt Zion, IL	United States	Construction - Supplies and Fixtures	78.4	200
PPG Industries Inc	Branch	Strongsville, OH	United States	Retail (Home Improvement)	58.2	200
PPG Industries Inc	Branch	Berea, KY	United States	Construction - Supplies and Fixtures	53.0	200
PPG Industries Inc	Branch	Fresno, CA	United States	Retail (Home Improvement)	32.5	200
Ppg Coatings Belux	Subsidiary	Hasselt	Belgium	Chemical Manufacturing	71.9	198
PPG Industries Inc	Branch	Monroeville, PA	United States	Miscellaneous Fabricated Products	51.3	198
PPG Architectural Finishes	Subsidiary	Louisville, KY	United States	Miscellaneous Fabricated Products	50.5	195
PPG Industries Inc	Branch	La Porte, TX	United States	Retail (Home Improvement)	43.7	150
PPG Industries Inc	Branch	Norton, OH	United States	Retail (Home Improvement)	43.7	150
PPG Industries Inc	Branch	Troy, MI	United States	Retail (Home Improvement)	43.7	150
Belletech Corp.	Joint Venture	Bellefontaine, OH	United States	Construction - Supplies and Fixtures		150
HOBA Lacke und Farben GmbH	Subsidiary	Bodelshausen	Germany	Chemical Manufacturing	134.1	136
PPG Industries Inc	Branch	Springdale, PA	United States	Chemical Manufacturing	79.4	125
PPG Deutschland Business Suport GmbH	Subsidiary	Wuppertal, Nordrhein-Westfalen	Germany	Chemical Manufacturing		125
Ppg Industries Argentina S.A.	Subsidiary	Villa Lynch, Buenos Aires	Argentina	Chemical Manufacturing	48.5	109
PPG Protective/Marine Coatings	Branch	Alexander, AR	United States	Chemical Manufacturing	64.8	102
PPG Architectural Finishes, Inc.	Subsidiary	Pittsburgh, PA	United States	Chemical Manufacturing	400.0	100
Monarch Paint Company Inc.	Subsidiary	Houston, TX	United States	Business Services	0.6	400
PPG Architectural Finishes	Branch	Dover, DE	United States	Personal and Household Products	28.5	125
PPG Olympic Stain	Branch	Louisville, KY	United States	Retail (Home Improvement)	20.4	70
PPG Porter Paints	Branch	Louisville, KY	United States	Retail (Home Improvement)	14.6	50
PPG Porter Paints	Branch	St Louis, MO	United States	Retail (Home Improvement)	8.7	30
PPG Porter Paints	Branch	Tucker, GA	United States	Miscellaneous Fabricated Products	7.8	30
Pittsburgh Paints	Branch	Columbus, OH	United States	Retail (Home Improvement)	4.4	15
PPG Porter Paints	Branch	North Charleston, SC	United States	Retail (Home Improvement)	3.5	12
Pittsburgh Paints	Branch	Dallas, TX	United States	Retail (Home Improvement)	3.5	12
Pittsburgh Paints	Branch	Pasadena, TX	United States	Retail (Home Improvement)	2.9	10
PPG Porter Paints	Branch	Columbus, OH	United States	Chemical Manufacturing	6.2	9
Pittsburgh Paints	Branch	San Antonio, TX	United States	Chemical Manufacturing	5.7	9
PPG Porter Paints	Branch	Bowling Green, KY	United States	Retail (Home Improvement)	2.6	9
PPG Porter Paints	Branch	Salt Lake City, UT	United States	Retail (Home Improvement)	2.6	9
PPG Porter Paints	Branch	Louisville, KY	United States	Retail (Home Improvement)	2.6	9
Pittsburgh Paints	Branch	Knoxville, TN	United States	Retail (Home Improvement)	2.6	9
PPG Architectural Finishes	Branch	Corpus Christi, TX	United States	Chemical Manufacturing	5.1	8
Pittsburgh Paints	Branch	Paducah, KY	United States	Construction - Supplies and Fixtures	2.9	8
Pittsburgh Paints	Branch	Round Rock, TX	United States	Retail (Home Improvement)	2.3	8
Pittsburgh Paints	Branch	Lake Buena Vista, FL	United States	Retail (Home Improvement)	2.3	8
PPG Industries Inc	Branch	Tucker, GA	United States	Retail (Home Improvement)	2.3	8
Pittsburgh Paints	Branch	San Antonio, TX	United States	Chemical Manufacturing	4.8	7
Pittsburgh Paints	Branch	Des Moines, IA	United States	Chemical Manufacturing	4.4	7
PPG Architectural Finishes	Branch	Mooresville, NC	United States	Chemical Manufacturing	4.4	7
Pittsburgh Paints	Branch	Houston, TX	United States	Retail (Home Improvement)	2.0	7
Pittsburgh Paints	Branch	Pasadena, TX	United States	Retail (Home Improvement)	2.0	7
PPG Porter Paints	Branch	Charlotte, NC	United States	Retail (Home Improvement)	2.0	7
PPG Porter Paints	Branch	Fort Wayne, IN	United States	Retail (Home Improvement)	2.0	7
Pittsburgh Paints	Branch	Southfield, MI	United States	Chemical Manufacturing	4.1	6
Pittsburgh Paints	Branch	Omaha, NE	United States	Chemical Manufacturing	3.8	6
Pittsburgh Paints	Branch	Las Vegas, NV	United States	Miscellaneous Capital Goods	2.2	6
Pittsburgh Paints	Branch	Katy, TX	United States	Retail (Home Improvement)	1.7	6
Pittsburgh Paints	Branch	Corpus Christi, TX	United States	Retail (Home Improvement)	1.7	6
Pittsburgh Paints	Branch	Huntsville, AL	United States	Retail (Home Improvement)	1.7	6
PPG Porter Paints	Branch	Jackson, TN	United States	Retail (Home Improvement)	1.7	6
PPG Spectra-Tone Painting	Branch	Palm Desert, CA	United States	Retail (Home Improvement)	1.7	6
PPG Porter Paints	Branch	Cincinnati, OH	United States	Retail (Home Improvement)	1.7	6
PPG Porter Paints	Branch	Vicksburg, MS	United States	Retail (Home Improvement)	1.7	6
Velvacon & Pittsburgh Paints	Branch	Stockton, CA	United States	Retail (Home Improvement)	1.7	6
PPG Porter Paints	Branch	Carmel, IN	United States	Miscellaneous Fabricated Products	1.6	6
PPG Porter Paints	Branch	Gallatin, TN	United States	Chemical Manufacturing	3.4	5
PPG Porter Paints	Branch	Nashville, TN	United States	Chemical Manufacturing	3.4	5
PPG Porter Paints	Branch	Nashville, TN	United States	Chemical Manufacturing	3.4	5
PPG Porter Paints	Branch	Lexington, KY	United States	Chemical Manufacturing	3.4	5
PPG Porter Paints	Branch	St Matthews, KY	United States	Chemical Manufacturing	3.4	5
PPG Porter Paints	Branch	Spartanburg, SC	United States	Chemical Manufacturing	3.4	5
PPG Porter Paints	Branch	Winston Salem, NC	United States	Chemical Manufacturing	3.2	5
Pittsburgh Paints	Branch	Austin, TX	United States	Chemical Manufacturing	3.2	5
PPG Architectural Finishes	Branch	Tampa, FL	United States	Chemical Manufacturing	3.2	5
PPG Architectural Finishes	Branch	Lafayette, IN	United States	Chemical Manufacturing	3.2	5
Pittsburgh Paints	Branch	Plano, TX	United States	Retail (Home Improvement)	1.5	5
Pittsburgh Paints	Branch	Chicago, IL	United States	Retail (Home Improvement)	1.5	5
Fifth Avenue Painting & Glass Inc	Branch	Yuma, AZ	United States	Retail (Home Improvement)	1.5	5
Pittsburgh Paints	Branch	Lincoln, NE	United States	Retail (Home Improvement)	1.5	5
Pittsburgh Paints	Branch	Arlington, TX	United States	Retail (Home Improvement)	1.5	5
Pittsburgh Paints	Branch	Houston, TX	United States	Retail (Home Improvement)	1.5	5
Billings Paint Center	Subsidiary	Billings, MT	United States	Retail (Home Improvement)	1.5	5
Pittsburgh Paints	Branch	Needham Heights, MA	United States	Retail (Home Improvement)	1.5	5
Pittsburgh Paints	Branch	Austin, TX	United States	Retail (Home Improvement)	1.5	5
Pittsburgh Paints	Branch	Killeen, TX	United States	Retail (Home Improvement)	1.5	5
Pittsburgh Paints	Branch	Pearland, TX	United States	Retail (Home Improvement)	1.5	5
PPG Porter Paints	Branch	Midvale, UT	United States	Retail (Home Improvement)	1.5	5
Pittsburgh Paints	Branch	Curtis Bay, MD	United States	Printing Services	1.0	5
PPG Porter Paints	Branch	Hermitage, TN	United States	Chemical Manufacturing	2.7	4
PPG Porter Paints	Branch	Melbourne, FL	United States	Chemical Manufacturing	2.7	4
PPG Porter Paints	Branch	Oakland Park, FL	United States	Chemical Manufacturing	2.7	4
PPG Porter Paints	Branch	Jupiter, FL	United States	Chemical Manufacturing	2.7	4
PPG Porter Paints	Branch	Nashville, TN	United States	Chemical Manufacturing	2.7	4
Pittsburgh Paints	Branch	Oak Ridge, TN	United States	Chemical Manufacturing	2.7	4
PPG Porter Paints	Branch	Evansville, IN	United States	Chemical Manufacturing	2.7	4
PPG Porter Paints	Branch	Naples, FL	United States	Chemical Manufacturing	2.7	4
PPG Porter Paints	Branch	Sarasota, FL	United States	Chemical Manufacturing	2.7	4
Pittsburgh Paints	Branch	Little Rock, AR	United States	Chemical Manufacturing	2.7	4
PPG Porter Paints	Branch	Madison, TN	United States	Chemical Manufacturing	2.7	4
Pittsburgh Paints	Branch	San Antonio, TX	United States	Chemical Manufacturing	2.7	4
Pittsburgh Paints	Branch	Brownsville, TX	United States	Chemical Manufacturing	2.7	4
Pittsburgh Paints	Branch	Bedford, OH	United States	Chemical Manufacturing	2.7	4
Pittsburgh Paints	Subsidiary	Austin, TX	United States	Chemical Manufacturing	2.5	4
PPG Porter Paints	Branch	Memphis, TN	United States	Chemical Manufacturing	2.5	4
Pittsburgh Paints	Branch	Lubbock, TX	United States	Chemical Manufacturing	2.5	4
Pittsburgh Paints	Branch	Spring, TX	United States	Chemical Manufacturing	2.5	4
PPG Porter Paints	Branch	Doral, FL	United States	Chemical Manufacturing	2.5	4
Pittsburgh Paints	Branch	Bellaire, TX	United States	Chemical Manufacturing	2.5	4
Pittsburgh Paints	Branch	Warren, MI	United States	Chemical Manufacturing	2.5	4
Pittsburgh Paints	Branch	Laredo, TX	United States	Chemical Manufacturing	2.5	4
Pittsburgh Paints	Branch	Tucson, AZ	United States	Chemical Manufacturing	2.5	4
Pittsburgh Paints	Branch	Universal City, TX	United States	Chemical Manufacturing	2.5	4
Pittsburgh Paints	Branch	Clovis, CA	United States	Chemical Manufacturing	2.5	4
PPG Porter Paints	Branch	Stuart, FL	United States	Miscellaneous Capital Goods	2.3	4
PPG Porter Paints	Branch	North Palm Beach, FL	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Florence, AL	United States	Retail (Home Improvement)	1.2	4
PPG Porter Paints	Branch	New Albany, IN	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Kahului, HI	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Casa Grande, AZ	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Mckinney, TX	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Hartford, CT	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Kansas City, MO	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Panama City Bch, FL	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Lancaster, PA	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Branson, MO	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Las Vegas, NV	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Baton Rouge, LA	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Nashville, TN	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Lutherville, MD	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Rockville, MD	United States	Retail (Home Improvement)	1.2	4
PPG Porter Paints	Branch	Winter Haven, FL	United States	Retail (Home Improvement)	1.2	4
PPG Porter Paints	Branch	Olive Branch, MS	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	New Braunfels, TX	United States	Retail (Home Improvement)	1.2	4
PPG Porter Paints	Branch	Indian Trail, NC	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Dillon, SC	United States	Retail (Home Improvement)	1.2	4
PPG Porter Paints	Branch	Palm Harbor, FL	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Mesa, AZ	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Humble, TX	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Sugar Land, TX	United States	Retail (Home Improvement)	1.2	4
PPG Porter Paints	Branch	Owensboro, KY	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Tomball, TX	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Roanoke, TX	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Lewisville, TX	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Knoxville, TN	United States	Retail (Home Improvement)	1.2	4
PPG Porter Paints	Branch	Atlanta, GA	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Honolulu, HI	United States	Retail (Home Improvement)	1.2	4
PPG Porter Paints	Branch	Maineville, OH	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Waipahu, HI	United States	Retail (Home Improvement)	1.2	4
PPG Porter Paints	Branch	Lakeland, FL	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Fort Smith, AR	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Chillicothe, OH	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Chantilly, VA	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Columbus, OH	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	Peoria, AZ	United States	Retail (Home Improvement)	1.2	4
Pittsburgh Paints	Branch	St Louis, MO	United States	Retail (Home Improvement)	0.8	4
Pittsburgh Paints	Branch	Flint, MI	United States	Advertising	0.7	4
PPG Porter Paints	Branch	Raleigh, NC	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Delray Beach, FL	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Louisville, KY	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Indianapolis, IN	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Charlotte, NC	United States	Chemical Manufacturing	2.1	3
Pittsburgh Paints	Branch	Bryant, AR	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Middletown, OH	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Terre Haute, IN	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Conyers, GA	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Hendersonville, TN	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Okolona, KY	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	St Louis, MO	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Buford, GA	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Lawrenceville, GA	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Cumming, GA	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Anderson, SC	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Altamonte Spgs, FL	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Cornelius, NC	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Miamisburg, OH	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	St Louis, MO	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Cary, NC	United States	Chemical Manufacturing	2.1	3
PPG Porter Paints	Branch	Memphis, TN	United States	Chemical Manufacturing	2.1	3
Pittsburgh Paints	Branch	Waterloo, IA	United States	Chemical Manufacturing	1.9	3
Pittsburgh Paints	Branch	Sioux City, IA	United States	Chemical Manufacturing	1.9	3
Pittsburgh Paints	Branch	Iowa City, IA	United States	Chemical Manufacturing	1.9	3
PPG Porter Paints	Branch	Rock Hill, SC	United States	Chemical Manufacturing	1.9	3
PPG Porter Paints	Branch	Woodstock, GA	United States	Chemical Manufacturing	1.9	3
PPG Porter Paints	Branch	Columbus, GA	United States	Chemical Manufacturing	1.9	3
Pittsburgh Paints	Branch	Cedar Rapids, IA	United States	Chemical Manufacturing	1.9	3
Pittsburgh Paints	Subsidiary	Austin, TX	United States	Chemical Manufacturing	1.9	3
PPG Porter Paints	Branch	Greenacres, FL	United States	Chemical Manufacturing	1.9	3
PPG Porter Paints	Branch	West Palm Beach, FL	United States	Chemical Manufacturing	1.9	3
PPG Porter Paints	Branch	Dania, FL	United States	Chemical Manufacturing	1.9	3
Pittsburgh Paints	Branch	Urbandale, IA	United States	Chemical Manufacturing	1.9	3
PPG Porter Paints	Branch	Cordova, TN	United States	Chemical Manufacturing	1.9	3
PPG Architectural Finishes	Branch	Mcallen, TX	United States	Chemical Manufacturing	1.9	3
PPG Architectural Finishes	Branch	Fort Worth, TX	United States	Chemical Manufacturing	1.9	3
PPG Porter Paints	Branch	Orlando, FL	United States	Miscellaneous Capital Goods	1.7	3
PPG Porter Paints	Branch	Vero Beach, FL	United States	Miscellaneous Capital Goods	1.7	3
Pittsburgh Paints	Branch	Kill Devil Hills, NC	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Carmel, IN	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Avon, IN	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Griffith, IN	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Gahanna, OH	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	N Chesterfield, VA	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Collierville, TN	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	District Heights, MD	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Warner Robins, GA	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Frisco, TX	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Cedar Park, TX	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Lorton, VA	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Sioux Falls, SD	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Liberty, MO	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Florence, KY	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Florence, SC	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Athens, GA	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Tallahassee, FL	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Ocala, FL	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Deerfield Beach, FL	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Davenport, IA	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Bel Aire, KS	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Houston, TX	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Novi, MI	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Waco, TX	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Atlanta, GA	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Denton, TX	United States	Retail (Home Improvement)	0.9	3
PPG Industries Inc	Branch	Halethorpe, MD	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Riviera Beach, FL	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Land O Lakes, FL	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Dayton, OH	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Tampa, FL	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Rolling Meadows, IL	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Elgin, IL	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Clearwater, FL	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Sanford, FL	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Indianapolis, IN	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Ashland, KY	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Warwick, RI	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Columbia, SC	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Mt Juliet, TN	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	College Station, TX	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Fort Worth, TX	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Mcallen, TX	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Jonesboro, AR	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Grapevine, TX	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Corpus Christi, TX	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Stone Park, IL	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Bradenton, FL	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Orlando, FL	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	St Louis, MO	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Des Moines, IA	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Richmond, VA	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Shawnee Mission, KS	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Panama City, FL	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	San Angelo, TX	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Conroe, TX	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	St Peters, MO	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Greenville, SC	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Suwanee, GA	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Subsidiary	Austin, TX	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	San Antonio, TX	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Durham, NC	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Orlando, FL	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Madera, CA	United States	Retail (Home Improvement)	0.9	3
PPG Industries Inc	Branch	Plymouth, MN	United States	Retail (Home Improvement)	0.9	3
Pittsburgh Paints	Branch	Oviedo, FL	United States	Retail (Home Improvement)	0.9	3
PPG Porter Paints	Branch	Louisville, KY	United States	Miscellaneous Fabricated Products	0.8	3
PPG Porter Paints	Branch	Chattanooga, TN	United States	Miscellaneous Fabricated Products	0.8	3
Pittsburgh Paints	Branch	Pigeon Forge, TN	United States	Miscellaneous Fabricated Products	0.8	3
PPG Porter Paints	Branch	Wooster, OH	United States	Retail (Specialty)	0.6	3
Pittsburgh Paints	Branch	Milwaukee, WI	United States	Retail (Home Improvement)	0.5	3
Pittsburgh Paints	Branch	Alsip, IL	United States	Construction Services	0.3	3
Pittsburgh Paints	Branch	Naperville, IL	United States	Chemical Manufacturing	2.0	2
PPG Porter Paints	Branch	Indianapolis, IN	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Indianapolis, IN	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Webster Groves, MO	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Miami, FL	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Wichita, KS	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Valdosta, GA	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Marietta, GA	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Gainesville, GA	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Albany, GA	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Tampa, FL	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Louisville, KY	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Louisville, KY	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Fern Creek, KY	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Lexington, KY	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Cincinnati, OH	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	St Louis, MO	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Acworth, GA	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Hiram, GA	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Smyrna, GA	United States	Chemical Manufacturing	1.4	2
Pittsburgh Paints	Branch	N Little Rock, AR	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Sarasota, FL	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Sarasota, FL	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Cincinnati, OH	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Charlotte, NC	United States	Chemical Manufacturing	1.4	2
PPG Porter Paints	Branch	Tifton, GA	United States	Chemical Manufacturing	1.4	2
Pittsburgh Paints	Branch	Ottumwa, IA	United States	Chemical Manufacturing	1.3	2
PPG Porter Paints	Branch	Stockbridge, GA	United States	Chemical Manufacturing	1.3	2
PPG Porter Paints	Branch	Matthews, NC	United States	Chemical Manufacturing	1.3	2
PPG Architectural Finishes	Branch	Miami, FL	United States	Chemical Manufacturing	1.3	2
Pittsburgh Paints	Branch	Blue Springs, MO	United States	Chemical Manufacturing	1.3	2
Pittsburgh Paints	Branch	Lancaster, TX	United States	Chemical Manufacturing	1.3	2
Pittsburgh Paints	Branch	Omaha, NE	United States	Chemical Manufacturing	1.3	2
Pittsburgh Paints	Branch	Harlingen, TX	United States	Chemical Manufacturing	1.3	2
PPG Architectural Finishes	Branch	Bettendorf, IA	United States	Chemical Manufacturing	1.3	2
PPG Porter Paints	Branch	Franklin, TN	United States	Chemical Manufacturing	1.3	2
PPG Porter Paints	Branch	Cincinnati, OH	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Montgomery, OH	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Circleville, OH	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Vincennes, IN	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Westmont, IL	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Mesquite, TX	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Westfield, IN	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Brooksville, FL	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Richland Hills, TX	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	New Orleans, LA	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Sierra Vista, AZ	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Millington, TN	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Columbus, OH	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Chamblee, GA	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Kingsport, TN	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Fairmont, WV	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Gainesville, FL	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Orlando, FL	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Palm Springs, FL	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Louisville, KY	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Cincinnati, OH	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Tucson, AZ	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	O Fallon, IL	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Jackson, MI	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Springfield, IL	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Port St Lucie, FL	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Douglasville, GA	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Kannapolis, NC	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Clermont, FL	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Kapaa, HI	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	St Petersburg, FL	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Rome, GA	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Weatherford, TX	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Mansfield, TX	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Aurora, IL	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Grove City, OH	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Hilliard, OH	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Canton, GA	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Tampa, FL	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Lakeland, FL	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Shawnee Mission, KS	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Bettendorf, IA	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Reynoldsburg, OH	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Fishers, IN	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Blaine, MN	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Jeffersonville, IN	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Tallahassee, FL	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Chicago, IL	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Powell, OH	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Cincinnati, OH	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Mauldin, SC	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Olive Branch, MS	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	La Grange, KY	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Gastonia, NC	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Mission, TX	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Dallas, TX	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Georgetown, TX	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Conway, AR	United States	Retail (Home Improvement)	0.6	2
Pittsburgh Paints	Branch	Visalia, CA	United States	Retail (Home Improvement)	0.6	2
Painters World	Branch	Slidell, LA	United States	Retail (Home Improvement)	0.6	2
PPG Porter Paints	Branch	Ballwin, MO	United States	Miscellaneous Fabricated Products	0.5	2
PPG Porter Paints	Branch	Fishers, IN	United States	Miscellaneous Fabricated Products	0.5	2
PPG Porter Paints	Branch	Evansville, IN	United States	Miscellaneous Fabricated Products	0.5	2
Pittsburgh Paints	Branch	Wichita Falls, TX	United States	Miscellaneous Fabricated Products	0.5	2
PPG Porter Paints	Branch	Dickson, TN	United States	Retail (Home Improvement)	0.4	2
Pittsburgh Paints	Branch	Oakdale, MN	United States	Retail (Specialty)	0.4	2
PPG Porter Paints	Branch	Louisville, KY	United States	Chemical Manufacturing	0.7	1
PPG Porter Paints	Branch	Louisville, KY	United States	Chemical Manufacturing	0.7	1
PPG Porter Paints	Branch	Valley Station, KY	United States	Chemical Manufacturing	0.7	1
PPG Porter Paints	Branch	Indianapolis, IN	United States	Chemical Manufacturing	0.7	1
PPG Porter Paints	Branch	St Louis, MO	United States	Chemical Manufacturing	0.7	1
PPG Porter Paints	Branch	Lexington, KY	United States	Chemical Manufacturing	0.7	1
PPG Porter Paints	Branch	Spring Hill, FL	United States	Chemical Manufacturing	0.7	1
PPG Porter Paints	Branch	Bardstown, KY	United States	Chemical Manufacturing	0.7	1
PPG Porter Paints	Branch	Greenwood, IN	United States	Chemical Manufacturing	0.7	1
PPG Porter Paints	Branch	Hebron, KY	United States	Chemical Manufacturing	0.6	1
PPG Porter Paints	Branch	Fairfield, OH	United States	Retail (Home Improvement)	0.3	1
PPG Porter Paints	Branch	Noblesville, IN	United States	Retail (Home Improvement)	0.3	1
Pittsburgh Paints	Branch	Portsmouth, OH	United States	Retail (Home Improvement)	0.3	1
PPG Porter Paints	Branch	Clarksville, TN	United States	Retail (Home Improvement)	0.3	1
PPG Porter Paints	Branch	Peachtree City, GA	United States	Retail (Home Improvement)	0.3	1
PPG Porter Paints	Branch	Clarksville, IN	United States	Retail (Home Improvement)	0.3	1
Pittsburgh Paints	Branch	Clarkston, MI	United States	Retail (Home Improvement)	0.3	1
Pittsburgh Paints	Branch	Benbrook, TX	United States	Retail (Home Improvement)	0.3	1
PPG Porter Paints	Branch	Chesterfield, MO	United States	Retail (Home Improvement)	0.3	1
PPG Porter Paints	Branch	Davenport, FL	United States	Retail (Home Improvement)	0.3	1
PPG Porter Paints	Branch	Fort Wright, KY	United States	Miscellaneous Fabricated Products	0.3	1
AZDEL Inc	Joint Venture	Shelby, NC	United States	Miscellaneous Capital Goods	114.0	100
PPG Canada Inc	Branch	Beauharnois, QC	Canada	Chemical Manufacturing	73.2	100
PPG Performance Coating (Hong Kong) Ltd	Subsidiary	Taikoo Hing	Hong Kong	Chemical Manufacturing	30.0	100
PPG Industries Inc	Branch	Greensboro, NC	United States	Miscellaneous Fabricated Products	25.9	100
PPG Industries Kimya Sanayi ve Ticaret Anonim Sirketi	Subsidiary	Bursa	Turkey	Chemical Manufacturing	19.0	100
PT. PPG Coatings Indonesia	Subsidiary	Jakarta	Indonesia	Chemical Manufacturing	2.0	100
PPG Industries (UK) Ltd.	Subsidiary	Shildon	United Kingdom	Chemical Manufacturing		100
PPG Industries Lackfabrik GmbH	Subsidiary	Weingarten	Germany	Chemical Manufacturing		100
PPG Industries Inc	Branch	East Point, GA	United States	Retail (Home Improvement)	28.5	98
PPG Industries Inc	Branch	O Fallon, MO	United States	Retail (Home Improvement)	21.8	75
PPG Dr Schoch AG	Subsidiary	Burgdorf	Switzerland	Chemical Manufacturing		75
PPG Industries Europe Sarl	Subsidiary	Rolle	Switzerland	Chemical Manufacturing		75
Ppg Refinish France	Subsidiary	Puteaux	France	Chemical Manufacturing	40.0	74
Equa-Chlor LLC	Subsidiary	Longview, WA	United States	Chemical Manufacturing		65
Intercast Europe S.r.l.	Subsidiary	Parma	Italy	Scientific and Technical Instruments	26.1	64
PPG Industries Inc	Branch	Milford, OH	United States	Chemical Manufacturing	38.1	60
PPG Industrial Coatings B.V.	Subsidiary	Veenendaal	Netherlands	Chemical Manufacturing		60
PPG Coatings (Singapore) Pte Ltd	Subsidiary	Singapore	Singapore	Chemical Manufacturing	50.4	50
Chemfil Canada Ltd.	Subsidiary	Windsor, ON	Canada	Miscellaneous Capital Goods	33.2	50
PPG Industries Inc	Branch	Chillicothe, OH	United States	Construction - Supplies and Fixtures	13.3	50
Sigma Samsung Coatings Co., Ltd	Subsidiary	Busan	Korea, Republic of	Chemical Manufacturing		50
PPG Coatings (Thailand) Co., Ltd.	Subsidiary	Bangkok	Thailand	Construction - Supplies and Fixtures		50
PPG Coatings BV	Subsidiary	Tiel	Netherlands	Chemical Manufacturing		44
PPG Industries Inc	Branch	Adrian, MI	United States	Chemical Manufacturing	21.6	40
PPG Industries Inc	Branch	Talladega, AL	United States	Retail (Home Improvement)	8.0	40
PPG Industries Inc	Branch	Watertown, CT	United States	Chemical Manufacturing	24.1	38
PPG Coatings SA	Subsidiary	Gonfreville	France	Chemical Manufacturing	79.0	34
PPG Industries Inc	Branch	Batavia, IL	United States	Retail (Home Improvement)	9.3	32
PPG (Austria) Handels GmbH	Subsidiary	Salzburg	Austria	Chemical Manufacturing	19.2	30
PPG Industries Inc	Branch	Newark, DE	United States	Retail (Home Improvement)	8.7	30
International Polarizer, Inc.	Subsidiary	Marlborough, MA	United States	Scientific and Technical Instruments		25
Ppg Industries Belgium	Subsidiary	Mechelen	Belgium	Chemical Manufacturing	13.8	24
Ppg Coatings	Subsidiary	Bruxelles	Belgium	Chemical Manufacturing	335.0	192
Heluca	Subsidiary	Astene	Belgium	Food Processing	1.3
Volys Star	Subsidiary	Lendelede	Belgium	Food Processing	121.3	337
Versele-Laga	Subsidiary	Astene	Belgium	Food Processing	224.9	280
Bk	Subsidiary	Astene	Belgium	Food Processing	23.1	35
Ingelbeen-Soete	Subsidiary	Izegem	Belgium	Oil and Gas Operations	24.7	32
Etablissements Dufour	Subsidiary	Froyennes	Belgium	Retail (Specialty)	0.0	23
Discount De Viandes Vens	Subsidiary	Leers-Nord	Belgium	Retail (Grocery)	0.0	12
Agrifamenne-Onhaye	Subsidiary	Onhaye	Belgium	Food Processing	8.8	10
Yara Belgium Sa	Subsidiary	Zaventem	Belgium	Business Services	267.6	99
Eqin	Subsidiary	Antwerpen	Belgium	Recreational Activities	14.3	45
F B M Belgique	Subsidiary	Bruxelles	Belgium	Hotels and Motels	3.9	22
L'intermediaire Commerciale Et Financiere Belge	Subsidiary	Charleroi	Belgium	Retail (Grocery)	3.2
Continental Energy Systems	Subsidiary	Oostmalle	Belgium	Miscellaneous Capital Goods	14.0	41
Verlacor	Subsidiary	Astene	Belgium	Commercial Banks	2.2	15
Unifert Group	Subsidiary	Bruxelles	Belgium	Chemical Manufacturing	82.1	8
Action Travel	Subsidiary	Bruxelles	Belgium	Personal Services	5.8	6
La Temerite	Subsidiary	Callenelle	Belgium	Fish and Livestock	1.7	5
Mantramar	Subsidiary	Huldenberg	Belgium	Business Services	2.8	1
Dorst	Subsidiary	Astene	Belgium	Food Processing	0.0
W. Vl. Steencentrale	Subsidiary	Wevelgem	Belgium	Construction - Raw Materials	0.0
PPG Industries Inc	Branch	Aurora, IL	United States	Retail (Home Improvement)	7.0	24
Coatings Resource Corp	Subsidiary	Huntington Beach, CA	United States	Chemical Manufacturing	3,500.0	20
Vanex Inc	Subsidiary	Mt Vernon, IL	United States	Chemical Manufacturing	12.7	20
NanoProducts Corporation	Subsidiary	Longmont, CO	United States	Chemical Manufacturing		20
PPG Canada Inc	Branch	Mississauga, ON	Canada	Personal and Household Products	14.6	18
PPG Industries Inc	Branch	City Of Industry, CA	United States	Chemical Manufacturing	9.5	15
PPG Industries Inc	Branch	Memphis, TN	United States	Retail (Home Improvement)	4.4	15
Transitions Optical (S) Pte. Ltd.	Subsidiary	Singapore	Singapore	Scientific and Technical Instruments	70.3	14
Transitions Optical, Inc.	Subsidiary	Pinellas Park, FL	United States	Scientific and Technical Instruments	310.0	1,200
PPG Industries Inc	Branch	Flint, MI	United States	Retail (Home Improvement)	3.5	12
PPG Industries Inc	Branch	Londonderry, NH	United States	Retail (Home Improvement)	2.4	12
PPG Industries Inc	Branch	Phoenix, AZ	United States	Retail (Specialty)	2.4	12
PPG Industries Inc	Branch	East Rutherford, NJ	United States	Retail (Home Improvement)	3.2	11
PPG Industries Inc	Branch	Warren, OH	United States	Chemical Manufacturing	6.4	10
PPG Refinish	Branch	Houston, TX	United States	Chemical Manufacturing	6.4	10
PPG Refinish	Branch	Guilderland Ctr, NY	United States	Retail (Home Improvement)	2.9	10
PPG Industries Inc	Branch	Orlando, FL	United States	Retail (Home Improvement)	2.9	10
PPG Industries Inc	Branch	Pearl, MS	United States	Retail (Home Improvement)	2.9	10
PPG Industries Inc	Branch	Portland, OR	United States	Miscellaneous Fabricated Products	2.6	10
PPG Industries Singapore Pte Ltd	Subsidiary	Singapore	Singapore	Chemical Manufacturing	30.2	9
PPG Industries Inc	Branch	Indianapolis, IN	United States	Construction - Supplies and Fixtures	3.2	9
PPG Industries Inc	Branch	Atlanta, GA	United States	Retail (Home Improvement)	2.6	9
PPG Industries Inc	Branch	Saginaw, MI	United States	Retail (Home Improvement)	2.6	9
PPG Industries Inc	Branch	West Hartford, CT	United States	Retail (Home Improvement)	1.8	9
PPG Refinish	Branch	Edina, MN	United States	Auto and Truck Parts	3.6	8
PPG Industries Inc	Branch	Doral, FL	United States	Retail (Home Improvement)	2.3	8
PPG Industries Inc	Branch	Janesville, WI	United States	Retail (Home Improvement)	2.3	8
PPG Industries Inc	Branch	Birmingham, AL	United States	Retail (Home Improvement)	1.6	8
PPG Industries Inc	Branch	Lansing, MI	United States	Retail (Home Improvement)	2.0	7
PPG Industries Inc	Branch	Tucson, AZ	United States	Retail (Home Improvement)	1.4	7
PPG Industries Inc	Branch	Amarillo, TX	United States	Retail (Home Improvement)	1.2	6
PPG Industries Inc	Branch	Marysville, OH	United States	Retail (Home Improvement)	1.2	6
PPG Industries Inc	Branch	Clackamas, OR	United States	Retail (Specialty)	1.2	6
PPG Refinish	Branch	City Of Industry, CA	United States	Chemical Manufacturing	3.2	5
PPG Refinish Distribution	Branch	Kissimmee, FL	United States	Auto and Truck Parts	2.2	5
PPG Industries Inc	Branch	Lubbock, TX	United States	Retail (Home Improvement)	1.5	5
PPG Industries Inc	Branch	Boise, ID	United States	Retail (Home Improvement)	1.5	5
PPG Industries Inc	Branch	Denver, CO	United States	Retail (Home Improvement)	1.5	5
PPG High Performance Coating	Branch	Indianapolis, IN	United States	Retail (Home Improvement)	1.5	5
Ppg Industries Ireland Limited	Subsidiary	Dublin	Ireland	Business Services	0.8	5
PPG Industries Inc	Branch	Rockville, MD	United States	Business Services	0.7	5
PPG Industries Inc	Branch	La Porte, TX	United States	Business Services	0.2	5
PPG Industries Inc	Branch	Edina, MN	United States	Auto and Truck Parts	1.8	4
PPG Industries Inc	Branch	Lake Buena Vista, FL	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Knoxville, TN	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Westerville, OH	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	District Heights, MD	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Latham, NY	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Gurnee, IL	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Syracuse, NY	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Springdale, PA	United States	Retail (Home Improvement)	1.2	4
PPG Protective/Marine Coatings	Branch	Auburn, WA	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Richmond, VA	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Metairie, LA	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Wentzville, MO	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Chester, SC	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Alexandria, VA	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Huntsville, AL	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Columbia, SC	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Lake Ariel, PA	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	New Martinsville, WV	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Omaha, NE	United States	Retail (Home Improvement)	1.2	4
PPG Industries Inc	Branch	Lake Charles, LA	United States	Miscellaneous Fabricated Products	0.8	4
PPG Industries Inc	Branch	Douglasville, GA	United States	Chemical Manufacturing	1.9	3
PPG Industries Inc	Branch	Smyrna, GA	United States	Chemical Manufacturing	1.9	3
PPG Refinish	Branch	Naperville, IL	United States	Auto and Truck Parts	1.3	3
PPG Industries Inc	Branch	Farmington, NM	United States	Retail (Home Improvement)	0.9	3
PPG Industries Inc	Branch	Kissimmee, FL	United States	Retail (Home Improvement)	0.9	3
PPG Industries Inc	Branch	Jersey City, NJ	United States	Miscellaneous Fabricated Products	0.8	3
PPG Industries Inc	Branch	Sunrise, FL	United States	Miscellaneous Fabricated Products	0.8	3
PPG Industries Inc	Branch	Madison, WI	United States	Retail (Home Improvement)	0.6	3
PPG Industries Inc	Branch	Raleigh, NC	United States	Retail (Home Improvement)	0.6	3
PPG Industries Inc	Branch	Towson, MD	United States	Retail (Home Improvement)	0.6	3
PPG Industries Inc	Branch	Shreveport, LA	United States	Retail (Home Improvement)	0.6	3
PPG Industries Inc	Branch	Poca, WV	United States	Retail (Home Improvement)	0.6	3
PPG Industries Inc	Branch	St Cloud, MN	United States	Retail (Home Improvement)	0.6	3
PPG Industries Inc	Branch	Manchester, NH	United States	Retail (Home Improvement)	0.6	3
PPG Industries Inc	Branch	Bethlehem, PA	United States	Retail (Home Improvement)	0.6	3
PPG Industries Inc	Branch	Savannah, GA	United States	Retail (Home Improvement)	0.6	3
PPG Industries Inc	Branch	Jacksonville, FL	United States	Business Services	0.3	3
PPG Industries Securities, Inc.	Subsidiary	Dover, DE	United States	Miscellaneous Financial Services	0.1	3
PPG Industries Inc	Branch	Windsor Locks, CT	United States	Retail (Home Improvement)	0.6	2
PPG Industries Inc	Branch	Concord, CA	United States	Retail (Home Improvement)	0.6	2
PPG Training Center	Branch	Kent, WA	United States	Schools		2
PPG National Training Center	Branch	Glen Burnie, MD	United States	Schools		2
PPG Industries Inc	Branch	Wichita, KS	United States	Retail (Home Improvement)	0.3	1
PPG Industries Inc	Branch	Mission Viejo, CA	United States	Retail (Home Improvement)	0.3	1
PPG Industries Inc	Branch	Dublin, OH	United States	Retail (Home Improvement)	0.3	1
PPG Industries Inc	Branch	Naperville, IL	United States	Retail (Home Improvement)	0.3	1
PPG Industries Inc	Branch	St Louis, MO	United States	Retail (Home Improvement)	0.3	1
Renner Sayerlack S.A.	Subsidiary	Cajamar, SP	Brazil	Chemical Manufacturing	227.7
Ppg Industries Europe	Subsidiary	Puteaux	France	Miscellaneous Financial Services	69.3
PPG Industries Sweden AB	Subsidiary	Västra Frölunda, Västra Götaland	Sweden		24.0	21
Transitions Optical Limited	Subsidiary	Tuam, Co Galway	Ireland	Scientific and Technical Instruments
Transitions Optical Distribution Limited	Subsidiary	Tuam	Ireland	Scientific and Technical Instruments
PPG Industries New Zealand Limited	Subsidiary	Auckland	New Zealand	Chemical Manufacturing
PPG Industries Netherlands B.V.	Subsidiary	Wijchen	Netherlands	Chemical Manufacturing
PPG Industries (Korea) Ltd.	Subsidiary	Busan	Korea, Republic of	Chemical Manufacturing
PPG PMC Japan Co Ltd	Subsidiary	Kobe	Japan	Chemical Manufacturing
Taiwan Chlorine Industries Ltd.	Subsidiary	Kaohsiung	Taiwan	Chemical Manufacturing
PPG Services (Shanghai) Co Ltd	Subsidiary	Shanghai, Shanghai	China	Chemical Manufacturing
Ppg Industries Foundation	Branch	Pittsburgh , PA	United States	Personal Services
Transitions Optical Philippines, Inc.	Subsidiary	Binan, Laguna	Philippines	Scientific and Technical Instruments
Transitions Optical (Thailand) Ltd.	Subsidiary	Chon Buri	Thailand	Scientific and Technical Instruments
PPG Daihan Packaging Coatings, Ltd.	Subsidiary	Anyang	Korea, Republic of	Chemical Manufacturing
Ppg Holdings (U. K. ) Ltd.	Subsidiary	Birmingham	United Kingdom	Commercial Banks
Ppg Industries (UK) Ltd.	Subsidiary	Wigan	United Kingdom	Chemicals - Plastics and Rubber	212.2	914
P P G Industries UK Ltd.	UK Branch/Trading address	Stowmarket	United Kingdom	Chemical Manufacturing	212.2	350
P P G Industries Paints Division	UK Branch/Trading address	Slough	United Kingdom	Chemical Manufacturing	212.2
Max Meyer (Uk) Ltd.	Subsidiary	Stowmarket	United Kingdom	Chemical Manufacturing
Ppg Xyz Ltd.	Subsidiary	Stowmarket	United Kingdom	Miscellaneous Capital Goods
Ppg Central (Uk) Ltd.	Subsidiary	Stowmarket	United Kingdom	Business Services	0.1
P. P. G. Glass (Uk) Ltd.	Subsidiary	Slough	United Kingdom	Miscellaneous Capital Goods
Ppg Industries (Uk) Pension Trustee Ltd.	Subsidiary	Stowmarket	United Kingdom	Investment Services
Necarbo B.V.	Subsidiary	Beverwijk	Netherlands	Miscellaneous Fabricated Products
PPG Luxembourg Finance S.aR.L.	Subsidiary	Munsbach	Luxembourg	Chemical Manufacturing
PPG Industries Poland Sp. Zo.o.	Subsidiary	Warsaw	Poland	Chemical Manufacturing
PPG Deutschland Sales Services GmbH	Subsidiary	Hilden	Germany	Chemical Manufacturing
PPG Italia Sales & Services Srl	Subsidiary	Lainate, Milano	Italy	Chemical Manufacturing
TRIGA COLOR, a.s.	Subsidiary	Brno	Czech Republic	Chemical Manufacturing
Primalex a.s.	Subsidiary	Brasy	Czech Republic	Chemical Manufacturing
PPG Industries Fiber Glass Products Inc	Subsidiary	Shelby, NC	United States	Containers and Packaging
PPG Coatings (Suzhou) Company Ltd.	Subsidiary	Suzhou, Jiangsu	China	Business Services
PPG Industries International Inc	Subsidiary	Taikoo Shing, Hong Kong Island	Hong Kong	Miscellaneous Capital Goods

PPG Industries, Inc.

Competitors Report

CompanyName	Location	Employees	Ownership
AGC Flat Glass North America, Inc.	Alpharetta, Georgia, United States	4,300	Private
Akzo Nobel N.V.	Amsterdam, Netherlands	55,590	Public
American Pacific Corporation	Las Vegas, Nevada, United States	653	Public
Ameron International Corporation	Pasadena, California, United States	2,800	Public
Arkema SA	Colombes, France	13,903	Public
Asahi Glass Co Ltd	Tokyo, Japan	50,957	Public
BASF SE	Ludwigshafen Am Rhein, Germany	111,995	Public
Benjamin Moore & Co.	Montvale, New Jersey, United States	2,951	Private
Berkshire Hathaway Inc.	Omaha, Nebraska, United States	271,000	Public
Carl Zeiss AG	Oberkochen, Germany	24,000	Private
Chemtura Corporation	Philadelphia, Pennsylvania, United States	4,500	Public
Compagnie de Saint Gobain SA	Courbevoie, France	192,933	Public
Corning Incorporated	Corning, New York, United States	28,800	Public
Cytec Industries Inc	Woodland Park, New Jersey, United States	5,500	Public
E I Du Pont De Nemours And Co	Wilmington, Delaware, United States	70,000	Public
Evonik Industries AG	Essen, Germany	33,316	Private
Ferro Corporation	Mayfield Heights, Ohio, United States	5,120	Public
Formosa Plastics Corporation	Kaohsiung, Taiwan	6,293	Public
Georgia Gulf Corporation	Atlanta, Georgia, United States	3,744	Public
GKN plc	Redditch, United Kingdom	36,925	Public
Guardian Industries	Auburn Hills, Michigan, United States	17,300	Private
HOYA CORPORATION	Tokyo, Japan	32,363	Public
Huntsman International (Canada) Corporation	Mississauga, Ontario, Canada	11	Private
Illinois Tool Works Inc.	Glenview, Illinois, United States	65,000	Public
J M Huber Corp	Edison, New Jersey, United States	4,000	Private
Johns Manville Corporation	Denver, Colorado, United States	6,600	Private
Lyondell Chemical Company	Houston, Texas, United States	7,340	Private
Masco Corporation	Taylor, Michigan, United States	31,000	Public
Mitsui Chemicals, Inc.	Tokyo, Japan	12,868	Public
NIPPON PAINT CO., LTD.	Osaka-Shi, Japan	5,762	Public
Nippon Sheet Glass Company, Limited	Tokyo, Japan	29,702	Public
Nippon Soda Co., Ltd.	Tokyo, Japan	2,507	Public
Nordson Corporation	Westlake, Ohio, United States	5,176	Public
Occidental Chemical Corporation	Dallas, Texas, United States	3,000	Private
Occidental Petroleum Corporation	Los Angeles, California, United States	11,300	Public
Olin Corporation	Clayton, Missouri, United States	3,800	Public
Owens Corning	Toledo, Ohio, United States	15,000	Public
Pilkington Group Ltd.	St Helens, United Kingdom	215	Private
Rhodia SA	Paris La Défense, France	34	Public
Rockwood Holdings, Inc.	Princeton, New Jersey, United States	9,700	Public
RPM International Inc.	Medina, Ohio, United States	9,713	Public
Sherwin-Williams Company	Cleveland, Ohio, United States	32,988	Public
Southwall Technologies Inc.	Palo Alto, California, United States	145	Public
The Dow Chemical Company	Midland, Michigan, United States	49,505	Public
The Valspar Corporation	Minneapolis, Minnesota, United States	10,000	Public
Vitro S.A.	San Pedro Garza Garcia, Mexico	17,129	Public
Westlake Chemical Corporation	Houston, Texas, United States	1,811	Public

Executives Report

Board of Directors

Name	Title	Function
Charles E. Bunch	Chairman/CEO	Chairman
Education: Georgetown University, bachelor's (International Affairs) Harvard University Graduate School of Business Administration, master's (Business Administration)
Stephen F. Angel	Independent Director	Director/Board Member
Biography: Mr. Stephen F. Angel is Independent Director of PPG Industries Inc since December 9, 2010. He has been Chairman of the Board, President and Chief Executive Officer of Praxair, Inc., a global producer and distributor of atmospheric and process gases and high-performance surface coatings, since 2007. Before being named to his current position, Mr. Angel served as President and Chief Operating Officer of Praxair, Inc. from March to December 2006 and as Executive Vice President of Praxair, Inc. from 2001 to 2006. Prior to joining Praxair, Inc., he held executive positions at General Electric Company, including General Manager for GE’s industrial systems power equipment business from 1999 to 2001 and General Manager, marketing and sales, for GE’s transportation systems business from 1996 to 1999. Age: 56 Education: Loyola College, M (Business Administration) North Carolina State University, B (Civil Engineering)
James G. Berges	Independent Director	Director/Board Member
Biography: Mr. James G. Berges is Independent Director of PPG Industries Inc since October 19, 2000. He became a partner in Clayton, Dubilier & Rice, a private equity investment firm, in 2006. Prior to that, he was President of Emerson Electric Co. from 1999 until his retirement in 2005. Emerson Electric Co. is a global manufacturer of products, systems and services for industrial automation, process control, HVAC, electronics and communications, and appliances and tools. He is also Chairman of HD Supply, Inc. and Sally Beauty Holdings and a director of NCI Building Systems, Inc. and Atkore International, Inc. Mr. Berges served as a director of Diversey, Inc. from 2009 to 2010 and MKS Instruments, Inc. from 2002 to 2007. Age: 64 Education: University of Notre Dame, BS (Electrical Engineering)
Hugh Grant View Email	Independent Director	Director/Board Member
Biography: Mr. Hugh Grant is Independent Director of PPG Industries Inc since Sepember 15, 2005. He has been appiontewd as Chairman of the Board, President and Chief Executive Officer, Monsanto Company, a global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. He was named Executive Vice President and Chief Operating Officer of Monsanto Company at the time of an initial public offering in 2000 and remained in that position for the subsequent spin-off of the company in 2002. Mr. Grant was named to his current position in 2003. Age: 54 Education: International Management Centre, MBA University of Edinburgh, MS University of Glasgow, BS (Molecular Biology)
Victoria F. Haynes View Email	Independent Director	Director/Board Member
Biography: Dr. Victoria F. Haynes Ph.D., is Independent Director of PPG Industries Inc since October 16, 2003. She has served as the President and Chief Executive Officer of RTI International, which performs scientific research and development in advanced technologies, public policy, environmental protection, and health and medicine, since July 1999. In April 2011, Dr. Haynes announced that she will retire from RTI International upon the appointment of her successor. She was Vice President of the Advanced Technology Group and Chief Technical Officer of BF Goodrich Company from 1992 to 1999. Dr. Haynes is also a director of Nucor Corporation and Ziptronix, Inc. Dr. Haynes served as a director of Archer Daniels Midland Company from 2007 through 2011. Age: 64 Education: Boston University, PHD Boston University, M University of California, Berkeley, B (Chemistry)
Michele J. Hooper	Independent Director	Director/Board Member
Biography: Ms. Michele J. Hooper is Independent Director of PPG Industries Inc since 1995. In 2003, she co-founded, and became the Managing Partner of, The Directors’ Council, a private company that works with corporate boards to increase their independence, effectiveness and diversity. She was named to her current position in 2009. Ms. Hooper was President and Chief Executive Officer of Voyager Expanded Learning, a developer and provider of learning programs and teacher training for public schools, from 1999 until 2000. Prior to that, she was President and Chief Executive Officer of Stadtlander Drug Company, Inc., a provider of disease-specific pharmaceutical care from 1998 until Stadtlander was acquired in 1999. . She is also a director of AstraZeneca plc. and UnitedHealth Group Incorporated. She served as a director of Warner Music Group from 2006 to 2011. Age: 60 Education: University of Chicago, MBA University of Pennsylvania, BA (Economics)
Robert Mehrabian	Independent Director	Director/Board Member
Biography: Dr. Robert Mehrabian is Independent Director of PPG Industries Inc since 1992. He has been Chairman of the Board, President and Chief Executive Officer of Teledyne Technologies Inc., a provider of sophisticated electronic components, instruments and communication products, systems engineering solutions, aerospace engines and components and on-site gas and power generation systems, since 2000. He was President and Chief Executive Officer of Teledyne Technologies Inc. from its formation (as a spin-off of Allegheny Teledyne Inc.) in 1999 until 2000. He was Executive Vice President of Allegheny Teledyne Inc., a manufacturer of specialty metals, aerospace, electronics, industrial and consumer products, from 1998 until 1999. He is also a director of The Bank of New York Mellon Corporation. Age: 70 Education: Massachusetts Institute of Technology, DS Massachusetts Institute of Technology, B
Martin H. Richenhagen	Independent Director	Director/Board Member
Biography: Mr. Martin H. Richenhagen is Independent Director of PPG Industries Inc since September 1, 2007. He has been Chairman, President and Chief Executive Officer of AGCO Corporation, an agricultural equipment manufacturer, since 2004. From 2003 to 2004, Mr. Richenhagen was Executive Vice President of Forbo International SA, a Swiss flooring materials company. From 1998 to 2003, he was with CLAAS KgaA MbH, a German-based manufacturer of agricultural and forest machinery, serving as Group President from 2000 until his departure in 2003. Mr. Richenhagen served as a director of Phelps Dodge Corporation from 2006 until Phelps Dodge was acquired in 2007. Age: 59 Education: Friedrich-Wilhelms-Universitaet Bonn, M (Business Administration) Universitat zu Koln
Robert Ripp	Independent Director	Director/Board Member
Biography: Mr. Robert Ripp is Independent Director of PPG Industries Inc since March 1, 2003. He has been Director and Chairman of Lightpath Technologies, a manufacturer of optical lens and module assemblies for the telecom sector, since 1999. He served as Interim President and Chief Executive Officer of Lightpath from October 2001 to July 2002. He was Chairman and Chief Executive Officer of AMP Incorporated, an electrical products company, from 1998 until AMP was acquired in April 1999. He is also a director of insurance company, ACE Limited. Age: 70 Education: New York University, MBA Iona College
Thomas J. Usher	Independent Director	Director/Board Member
Biography: Mr. Thomas J. Usher is Independent Director of PPG Industries Inc since 1996. He was elected non-executive Chairman of Marathon Oil Corporation in 2001. Marathon is a global oil and natural gas production and refining company based in Houston, Texas. Mr. Usher had been Chairman of the Board, Chief Executive Officer and President of United States Steel Corporation, producer of metal products, since 2001. He retired from the positions of Chief Executive Officer and President on September 30, 2004. He subsequently retired as Chairman of the Board of Directors on February 1, 2006. He served as Chairman of the Board and Chief Executive Officer of USX Corporation from 1995 until 2001. He is also a director of The PNC Financial Services Group, Inc. and H. J. Heinz Company. Age: 69 Education: University of Pittsburgh, PHD (Systems Engineering) University of Pittsburgh, MS (Operations Research) University of Pittsburgh, BS (Industrial Engineering)
David R. Whitwam	Independent Director	Director/Board Member
Biography: Mr. David R. Whitwam is Independent Director of PPG Industries Inc since 1991. He was Chairman of the Board and Chief Executive Officer of Whirlpool Corporation, a manufacturer and distributor of household appliances and related products, from 1987 until his retirement in 2004. Mr. Whitwam served as a director of Convergys Corporation from 2003 through 2009. Age: 70 Education: University of Wisconsin, BS with honors (Economics)

Executives

Name	Title	Function
Charles E. Bunch	Chairman/CEO	Chief Executive Officer
Education: Georgetown University, bachelor's (International Affairs) Harvard University Graduate School of Business Administration, master's (Business Administration)
J. Rich Alexander View Email	Executive Vice President, Performance Coatings	Division Head Executive
Biography: Mr. J. Rich Alexander is Executive Vice President of PPG Industries Inc since August 2011. Mr. Alexander joined PPG in 1978 as a sales representative based in Detroit and subsequently held several branch sales and marketing positions. In 1992, he was named director of marketing, fiber glass reinforcements, based at PPG's Pittsburgh headquarters, and he was appointed director of marketing and sales, fiber glass electronics and specialty materials, in 1995. Alexander became general manager of electronics and specialty materials in 1996, and in 1997 was named general manager, fiber glass reinforcements. He was appointed global general manager, general industrial coatings, in 2000. He then was elected vice president, industrial coatings, in 2002, and to his current position in 2005. He graduated cum laude from Kent State University with a bachelor's degree in psychology and earned a Master of Business Administration degree from Capital University. Mr. Alexander is responsible for the Architectural Coatings – EMEA (Europe, Middle East and Africa) and Glass segments, the Architectural Coatings – Americas and Asia Pacific business, Corporate Marketing and Purchasing and Distribution. Mr. Alexander held the position of Executive Vice President, Performance Coatings from August 2010 until August 2011. Mr. Alexander held the position of Senior Vice President, Performance Coatings from May 2005 to August 2010 and held the position of Vice President, Industrial Coatings from July 2002 through April 2005. Age: 56 Education: Capital University, MBA Kent State University, B (Psychology) Compensation/Salary:$570,833 Compensation Currency: USD
Kevin D Braun	General Manager	Division Head Executive
Education: University of Pittsburgh, bachelor's (Industrial Engineering) Capital University, MBA
Bob Burgess View Email	Director - Training & Sales Development	Division Head Executive
Brett Candler	Sales Zone Director - Zone 1	Division Head Executive
Education: Kelley School of Business at Indiana University Bloomington IN., BS (Marketing)
Michael Horton View Email	President, PPG Asia/Pacific, VP, Automotive Refinish, Architectural Coatings, Asia/Pacific	Division Head Executive
Mark Juell	sales zone director, zone 2	Division Head Executive
Michael H. McGarry	Executive Vice President - Commodity Chemicals	Division Head Executive
Biography: Mr. Michael H. McGarry has been appointed as Executive Vice President of PPG Industries Inc., effective September 1, 2012. He is no longer Senior Vice President - Commodity Chemicals of the Company, effective September 1, 2012. Mr. McGarry held the positions of Vice President, Coatings, Europe and Managing Director, PPG Europe from July 2006 through June 2008 and the position of Vice President, Chlor-Alkali and Derivatives from March 2004 through June 2006. Mr. McGarry joined PPG in 1981 as an Engineer at the company's Lake Charles, La., chemicals complex. He progressed through assignments such as Market Development Manager, Silica Products; Operations Manager, Silicas, Thailand, Business Manager, Teslin sheet; and Product Manager in the Derivatives, Chlorine, Liquid and Dry Caustic Soda Businesses. Mr. McGarry was appointed General Manager, Fine Chemicals, in 2000, Vice President, Chlor-Alkali and Derivatives in 2004; and Vice President, Coatings, and Managing Director, PPG Europe, in 2006. In his new position, he will join PPG's Operating Committee with responsibility for PPG's Commodity Chemicals reporting segment and chlor-alkali and derivatives business unit. Mr. McGarry also has responsibility for Corporate Environmental Health and Safety and Corporate Quality. Age: 53 Compensation/Salary:$375,000 Compensation Currency: USD
John Parran	director, marketing, refinish, United States and Canada	Division Head Executive
Education: University of Pittsburgh (Economics)
Jean-Guy Rosa	Director - Refinish Canada	Division Head Executive
Viktor R. Sekmakas	Executive Vice President, Industrial Coatings, President, PPG Europe	Division Head Executive
Biography: Mr. Viktoras R. Sekmakas has been appointed as Executive Vice President of PPG Industries Inc., effective September 1, 2012. He is no longer Senior Vice President - Industrial Coatings & President, PPG Europe of the Company, effective September 1, 2012. Mr. Sekmakas earned a bachelor's degree in chemical engineering from the University of Illinois. Mr. Sekmakas held the position of President, PPG Asia Pacific from March 2009 until August 2011. In addition to serving as President, Asia/Pacific, Mr. Sekmakas held the position of Vice President Industrial Coatings from March 2010 through July 2010. He was appointed President, Asia Pacific in March 2009. Previously, Mr. Sekmakas, served as Vice President, Asia Pacific from July 2006 through February 2009, Managing Director, Coatings and General Manager Industrial Coatings – Asia from March 2005 through June 2006 and General Manager Asia Pacific Industrial Coatings from April 2001 through February 2005. Age: 51 Education: University of Illinois, B (Chemical Engineering)
Steve Zweig	Director - Sales Zone 3	Division Head Executive
Gregory Benckart View Email	Vice President Automotive Refinish, United States and Canada	Operations Executive
Education: College of Wooster, bachelor's (Economics) Vanderbilt University, MBA
Bill Brown View Email	Manager Information Technology Store Technology Operations	Operations Executive
Ed Fraser View Email	Operations Manager	Operations Executive
Jennifer Garefino	Manager, Operations	Operations Executive
Barry N Gillespie	Vice President-Aerospace Products	Operations Executive
Education: Arizona State University, BS (Electrical Engineering) San Francisco State University, BA (Philosophy)
Kenneth Larsen View Email	Cgmp Operations Manager	Operations Executive
Mark J Orcutt	Vice President-Performance Glazings	Operations Executive
Education: Lehigh University, BS (Economics) Lehigh University, MBA
John Richter View Email	Vice President, Operations, Coatings, Asia/Pacific	Operations Executive
Vincent Robin	Vice President Automotive OEM Coatings, Asia/Pacific	Operations Executive
Paul Bridge View Email	Environmental Manager	Environment/Safety Executive
Robert Deans View Email	Account Manager	Environment/Safety Executive
Jerome Osheka View Email	Director of Environmental Compliance	Environment/Safety Executive
Virginia Sergent View Email	Environmental Manager	Environment/Safety Executive
Brittany Sims-Byrd View Email	Safety Specialist, Engineer	Environment/Safety Executive
Terry Wilson View Email	Safety Manager	Environment/Safety Executive
Tom Yurick View Email	Safety Manager	Environment/Safety Executive
Terri Delaney View Email	Go Consolidated Lan Administrator	Administration Executive
Jonna Depugh View Email	Senior Administrative Analyst	Administration Executive
Janet Farbarik View Email	Admin Ast To Werner Baer	Administration Executive
Peny Mitchell View Email	Go Consolidated Lan Administrator	Administration Executive
Bob Stebbins View Email	Information Technology Business Manager	Administration Executive
Gina Whitehair View Email	Customer Service Admin Coordinator	Administration Executive
Anne Foulkes View Email	Assistant General Counsel and Corporate Secretary	Company Secretary
Education: The Dickinson School of Law, JD Tufts University, bachelor's
Maryann Cluley View Email	Finance Executive	Finance Executive
Josette Fawina View Email	Directeur Adm Et Financier	Finance Executive
Alison Fisher View Email	Project Manager, Oracle Financials	Finance Executive
Karen Fox View Email	Finance Executive	Finance Executive
William H Hernandez	Senior Vice President Finance	Finance Executive
Biography: William H. Hernandez ; age 63; director since January 1 2011; retired having previously served as Senior Vice President Finance and Chief Financial Officer of PPG Industries Inc. (PPG) a global manufacturer of coatings and specialty products from 1995 to 2009. Other directorships: Eastman Kodak Company (provider of imaging technology products and services to the photographic and graphic communications markets) Black Box Corporation (provider of network infrastructure services) and USG Corporation (manufacturer and distributor of building materials). Mr. Hernandez brings to the Board of Directors broad experience in corporate finance risk management operations mergers and acquisitions strategic planning and executive compensation. In particular Mr. Hernandez is highly qualified in the fields of accounting internal controls and economics all of which contribute to effective service on the Board of Directors. Through his service on the board of directors of other public companies he has gained additional experience in risk management and corporate governance. R. William Ide III ; age 70; director since 2005; Partner of McKenna Long & Aldridge LLP (law firm) having previously served as Senior Vice President General Counsel of Monsanto Corporation. Other directorship: AFC Enterprises Inc. (the franchisor and operator of Popeyes Chicken & Biscuits).
Li Huang View Email	Financial Analyst	Finance Executive
Doug Mansfield View Email	Financial Analyst	Finance Executive
Peter Musi View Email	Director of Information Systems, Financial Services	Finance Executive
David B. Navikas View Email	Senior Vice President, Finance, and Chief Financial Officer	Finance Executive
Biography: Mr. David B. Navikas is Chief Financial Officer, Senior Vice President - Finance of PPG Industries Inc since June 10, 2011. Prior to his appointment, Mr. Navikas served as Controller since joining the Company in November 1995. Prior to joining PPG, Navikas had 22 years of experience with Deloitte & Touche, including 13 years as a partner. He earned a bachelor’s degree in business from Purdue University and a master’s in accounting from Syracuse University. Mr. Navikas held the position of Vice President and Controller from March 2000 until June 2011. Age: 61 Education: Syracuse University, M (Accounting) Purdue University, B (Business) Compensation/Salary:$406,940 Compensation Currency: USD
Steven Pohl View Email	Director Global Finance and Planning A...	Finance Executive
Trudy Quinn View Email	Credit	Finance Executive
Shan Shao View Email	Manager, IT Finance	Finance Executive
Bonnie Varney View Email	Financial Analyst	Finance Executive
Donna Lee Walker	Vice President-Tax Administration	Finance Executive
Education: Robert Morris College, bachelor's (Business Administration) Robert Morris College, master (Taxation)
Ryan Edmondson View Email	Senior Auditor	Accounting Executive
Susanna Kim View Email	Quality Auditor	Accounting Executive
Martha Martinez View Email	Quality Auditor	Accounting Executive
Michael Mcadams View Email	Director - National Accounts	Accounting Executive
John Panza View Email	Senior Auditor	Accounting Executive
Heidi Wisecup View Email	Accounts Payable Associate	Accounting Executive
Kelly Wyland View Email	Accounts Payable Team Leader	Accounting Executive
Judy Ciotti View Email	Order-To-Cash	Cash Management Executive
Janet Durkin View Email	Order-To-Cash	Cash Management Executive
Tim Hipwell View Email	Tax Director	Corporate Tax Executive
Johann Kolling View Email	Vice President, Tax Administration	Corporate Tax Executive
Education: University of Detroit Mercy, bachelor's (Accounting) Wayne State University Law School, JD
Bob Mikita View Email	International Tax	Corporate Tax Executive
Aziz S Giga	Vice President & Treasurer	Treasurer
Ralph Dyba	Controller	Controller
Karen Rathburn View Email	Director of Payroll and Benefits	Benefits & Compensation Executive
Darla Stepp View Email	Assistant To Director of Payroll and Benefits	Benefits & Compensation Executive
Riva Tarnopolsky View Email	Corporate Compensation	Benefits & Compensation Executive
Tony Balawejder View Email	Global Human Resources Systems Consult...	Human Resources Executive
John Balest View Email	Human Resources	Human Resources Executive
John Coyne View Email	Recruitment Manager	Human Resources Executive
Kathleen Day	Human Resources	Human Resources Executive
Gary Dozier View Email	Human Resources Manager	Human Resources Executive
Coty Franklin View Email	Zone Human Resources Manager	Human Resources Executive
Sany Frazier View Email	Director Human Resources	Human Resources Executive
Diana Gronholm View Email	Human Resources Manager	Human Resources Executive
Tony Hartman View Email	Human Resources	Human Resources Executive
J Jordan View Email	Vice President, Human Resources	Human Resources Executive
J Craig Jordan	Vice President-Human Resources	Human Resources Executive
Deb Noe View Email	Human Resources Manager	Human Resources Executive
Shannon Pelissero View Email	Supervisor College Recruiting	Human Resources Executive
Joel Smith View Email	Director Human Resources	Human Resources Executive
Robert Williams View Email	Human Resources	Human Resources Executive
Gary Barden View Email	Technical Training Representative	Training Executive
James Do View Email	Director Customer Support	Customer Service Executive
Doeke Baar View Email	Director of Sales Europe Middle East and Africa	Sales Executive
Gus Badalamenti View Email	Coating Specialist Sales Representative	Sales Executive
Jim Bartholomew View Email	Sales Representative	Sales Executive
Holly Bllom View Email	Account Manager	Sales Executive
Melissa Boller View Email	Account Manager	Sales Executive
Margo Buttner View Email	Account Manager	Sales Executive
Kate Candall View Email	Account Manager	Sales Executive
Fernando Clark View Email	Account Manager	Sales Executive
Barbara Clinton View Email	Account Manager	Sales Executive
Cindy Collis View Email	Account Manager	Sales Executive
Merell Diller View Email	Account Manager	Sales Executive
Tom Edman View Email	Account Manager	Sales Executive
Bella Fedder View Email	Account Manager	Sales Executive
Debbie Fikk View Email	Account Manager	Sales Executive
Ross Finder View Email	Account Manager	Sales Executive
Vincent Golder View Email	Account Manager	Sales Executive
Nina Gonner View Email	Account Manager	Sales Executive
Jim Gregg View Email	Protective and Marine Coatings Sale Re...	Sales Executive
Rosco Guller View Email	Account Manager	Sales Executive
Carlie Keller View Email	Account Manager	Sales Executive
Mauree Lonn View Email	Account Manager	Sales Executive
Maurine Lostner View Email	Account Manager	Sales Executive
Andy Mcclure View Email	Account Manager	Sales Executive
Richard Metcalf View Email	Technical Sales	Sales Executive
Lee Muse View Email	Industrial Sales Representative	Sales Executive
Sally Neher	Vice President-Corporate Marketing And...	Sales Executive
Rebecca Noons View Email	Account Manager	Sales Executive
Marino Poweder View Email	Account Manager	Sales Executive
Kristen Querriera View Email	Sales Development Manager	Sales Executive
Doug Riordan View Email	National Sales Manager	Sales Executive
Wiley Samson View Email	Account Manager	Sales Executive
Paula Sayer View Email	Account Manager	Sales Executive
Tara Shiller View Email	Account Manager	Sales Executive
Teresa Sholl View Email	Account Manager	Sales Executive
Minerva Teeler View Email	Account Manager	Sales Executive
Marla Tollen View Email	Account Manager	Sales Executive
Nelson Vinn View Email	Account Manager	Sales Executive
Marco Visser	Sales Manager	Sales Executive
Claire Wasser View Email	Account Manager	Sales Executive
Bobby Wilder View Email	Account Manager	Sales Executive
Candy Yolls View Email	Account Manager	Sales Executive
Minnie Zell View Email	Account Manager	Sales Executive
Karen Barkac View Email	Manager International Distribution International Distribution	International Executive
Mike Calabrese View Email	Senior Architect Global Information Technology Desktop Services Ppg Industries Inc	International Executive
Kevin Cook View Email	Global Marketing Manager Aerospace Transparencies	International Executive
Dave Garson	Global Infrastructure Services	International Executive
Mark Lewis View Email	Manager, Global IT Application	International Executive
Walter Litschitz View Email	Manager Global Information Technology Infrastructure	International Executive
Jennifer Sherry View Email	Manager Global Business Planning and Analysis	International Executive
Scott B Sinetar	Vice President-Architectural Coatings, North America	International Executive
Benjamin Tan	Vice President Protective and Marine Coatings, Asia/Pacific	International Executive
Carla Torquato	Global Wood Marketing Manager	International Executive
Sue Banas View Email	Director E-Commerce	E-Commerce Executive
Paul Belay View Email	Marketing Director Refinish Europe	Marketing Executive
James Bogdan View Email	Manager, Sustainability Marketing Initiatives	Marketing Executive
Mike Evcic View Email	Marketing Executive	Marketing Executive
Patrick Kenny	Vice President-Corporate Marketing	Marketing Executive
Education: Kelley School of Business, bachelor's (Marketing) University of Pittsburgh, MBA
Robyn Mc Millan	Marketing	Marketing Executive
Sharon Piciacchio	Vice President-Chlor-Alkali Marketing Services & Cal-Hypo	Marketing Executive
Howard Roe View Email	Marketing Director	Marketing Executive
Amanda Smelko View Email	Marketing Associate	Marketing Executive
Michael Smith View Email	Marketing Manager	Marketing Executive
Shirley Stern	Marketing	Marketing Executive
Anthony Stone View Email	Marketing Manager	Marketing Executive
Marc Taylor View Email	Marketing Manager	Marketing Executive
Jo Thompson	European Marketing Manager	Marketing Executive
Biography: Dave and his team at PMA have provided the PPG Refinish business with the highest level of marketing support - including exceptional project management clarity on market research technique and correct fit of research firm to our business needs. Our project is global in scope and Dave not only provided attention to detail focus on results and planning / organizational skills that exceeded our expectations but his adoption to our global business and reach into market contacts has been outstanding. Dave is one of the Refinish team - worldwide and we will continue to call upon his market strengths now and into the future.
Heidi Cantwell View Email	Communications Manager	Corporate Communications Executive
Gretchen Gezerc View Email	Director of Corporate Communications	Corporate Communications Executive
Roger Lindel View Email	Corporate Communications	Corporate Communications Executive
Jack Maurer View Email	Director-Corporate Communication	Corporate Communications Executive
Jeremy Neuhart View Email	Manager-Public Relations and Corporate Communications	Corporate Communications Executive
Lynne Schmidt	Vice President of Government and Community Affairs	Public Relations Executive
Education: Bowling Green State University, bachelor´s (Psychology And Mathematics) University of Pittsburgh, JD
Lisa Alo View Email	Graphic Designer	Advertising Executive
Dee Schlotter	Magazine Advertising For Paints	Advertising Executive
Vince Morales View Email	Vice President of Investor Relations	Investor Relations Executive
Education: Robert Morris University, bachelor's (Accounting) the Ohio State University, MBA
Bob Adrian View Email	Information Technology Director	Information Executive
Denise Agliori View Email	Database Administrator	Information Executive
Mary Ann View Email	Information Technology Infrastructure Manager	Information Executive
Werner Baer View Email	Information Technology	Information Executive
Education: University of St. Gall, BS (Business Administration)
Gerardo Cabrera View Email	Information Technology Manager	Information Executive
Tristan Calderon View Email	Information Technology Manager	Information Executive
Ben Cirota View Email	Information Technology Director	Information Executive
John Duronio View Email	Manager, Information Technology Security Department	Information Executive
Edward Falce View Email	Information Systems Supervisor	Information Executive
Megan Farkasovsky View Email	Information Technology Manager	Information Executive
Matthew Galeza View Email	Information Technology Manager	Information Executive
Doug Glance View Email	Manager, Senior Sourcing Agent € Information Technology Services	Information Executive
Debrah Gory View Email	Information Technology Manager-Project Management Office	Information Executive
Charlie Higley View Email	Information Technology Manager	Information Executive
Manager Jordan View Email	Manager, Information Technology	Information Executive
Charles F. Kahle View Email	Vice President - Coatings Research & Development and Chief Technology Officer	Information Executive
Education: University of Illinois, doctorate (Organic Chemistry)
Vince Kwisnek View Email	Quality Systems Support Analyst	Information Executive
Ahiam Lucas View Email	Information Technology Manager	Information Executive
Elizabeth Mcmeekin View Email	Information Technology Manager	Information Executive
Mudger Michael View Email	Information Technology Director	Information Executive
Jason Modlin View Email	Information Technology Director	Information Executive
Andy Montero	Information Technology Director	Information Executive
Tim Orourke	Systems Analyst Ii	Information Executive
Michelle Peaker	Information Technology Infrastructure Shared Service	Information Executive
Scott Perigo	Programmer, Analyst	Information Executive
Robert Powell View Email	Programmer Analyst	Information Executive
Jeffrey Raver View Email	Programmer Analyst	Information Executive
Marylee Richner View Email	Information Specialist	Information Executive
Judy Schoeller View Email	Information Technology	Information Executive
Rebecca Scobbie	Programmer, Analyst	Information Executive
John Shimkus View Email	Glass Information Technology	Information Executive
Scott Snavely View Email	Senior Lead of IT Projects	Information Executive
Tom Soforic View Email	Project Manager, Data Center	Information Executive
Chuck Tomcho View Email	Technical Manager	Information Executive
Mary Tortorelli	Database Administrator	Information Executive
Douglas Watkins	Systems Software Analyst	Information Executive
Paul Wilson View Email	Information Technology Director of Technology For Architectural Finishes	Information Executive
Angela Wolff View Email	Manager Information Systems	Information Executive
Mike Zeidler View Email	Information Technology Manager	Information Executive
Cliff Bell	Network Administrator	Network Management Executive
Gilbert Broxie View Email	Network Analyst	Network Management Executive
Jason Casciato View Email	Systems Analyst	Network Management Executive
Michael Colaianne	Senior Systems Analyst	Network Management Executive
Rebecca Craig View Email	Information Systems Manager	Network Management Executive
Brent Cramer View Email	Senior Systems Analyst	Network Management Executive
Rich Cwiklinski View Email	Senior Systems Analyst	Network Management Executive
Gaurav Dargan View Email	Systems Analyst	Network Management Executive
Terry Divelbliss View Email	Network Manager	Network Management Executive
Charles Mcdowell	Systems Analyst	Network Management Executive
Seana Miller View Email	Webmaster, Seo Professional	Network Management Executive
Doug Murphy View Email	Network Analyst	Network Management Executive
Tim Peters View Email	Systems Analyst	Network Management Executive
Mike Ratkiewicz View Email	Senior Systems Analyst	Network Management Executive
Curtis Spence View Email	Systems Analyst	Network Management Executive
Elise St John View Email	Systems Engineer	Network Management Executive
Michael Stadfield View Email	System Administrator	Network Management Executive
Glenn Weiss View Email	Systems Analyst	Network Management Executive
Donald Anthony View Email	Engineer Spc	Engineering/Technical Executive
Roland Askerneese View Email	Engineering Specialist	Engineering/Technical Executive
Jeff Boley View Email	Senior Project Engineer	Engineering/Technical Executive
Bobby Bullard View Email	Facilities Engineer	Engineering/Technical Executive
Mark Cancilla View Email	Director, Coatings	Engineering/Technical Executive
David Couvillon View Email	Instrument Engineer	Engineering/Technical Executive
Jeffrey Davis View Email	Technical Operator	Engineering/Technical Executive
Mac Duncan View Email	Engineer	Engineering/Technical Executive
Wayne Eads View Email	Electrical Engineer	Engineering/Technical Executive
Matthew Fagnant View Email	Engineer	Engineering/Technical Executive
Steve Fedewa View Email	Project Engineer	Engineering/Technical Executive
William Ferrell View Email	Senior Technical Associate Customer Liaison	Engineering/Technical Executive
Larry Fitzgerald View Email	Director, Oem Coatings Technology	Engineering/Technical Executive
Gerald Gruber	Vice President - Science & Technology	Engineering/Technical Executive
Luann Hamilton View Email	General, Technical	Engineering/Technical Executive
Leslie Hanson View Email	Senior Engineer Associate-Process Control	Engineering/Technical Executive
Craig Hartman	Process Engineer	Engineering/Technical Executive
Jim Hasselbeck	Staff Engineer	Engineering/Technical Executive
Peter Hawkins View Email	Engineering Intern	Engineering/Technical Executive
Jim Johnston	Enterprise Architecture & Advanced Tech	Engineering/Technical Executive
Dan Kadlubar View Email	Engineer	Engineering/Technical Executive
Thomas Leathers	Engineer	Engineering/Technical Executive
Pat Marciniak View Email	Technical Service Representative	Engineering/Technical Executive
Mike Mcclain View Email	Staff Engineer	Engineering/Technical Executive
Mark Miller View Email	Instrument Engineer	Engineering/Technical Executive
Gary Nelis View Email	Staff Engineer	Engineering/Technical Executive
Chinni Panjeti View Email	Engineer	Engineering/Technical Executive
Terry Parrinello View Email	Senior Industrial Engineer	Engineering/Technical Executive
Bonenfant Patrick View Email	Engineering Director, Europe	Engineering/Technical Executive
Bruno Pierannunzio	Manager Process, Production Engineering	Engineering/Technical Executive
Martin Pittsburgh	Environmetal Engineering	Engineering/Technical Executive
Terathane Polyether View Email	Vice President of Science and Technology	Engineering/Technical Executive
Shrirang Ranade View Email	Materials Engineer	Engineering/Technical Executive
Taufiq Shamim View Email	Corporate Engineering	Engineering/Technical Executive
Alfons Shermaier View Email	Lead Architect	Engineering/Technical Executive
Mary Shinsky View Email	Senior Technology Analyst	Engineering/Technical Executive
Derek Smay View Email	Head Techie Moss, Sharepoint Governance C	Engineering/Technical Executive
Shree Sulur View Email	Manufacturing Engineering	Engineering/Technical Executive
Rajiv Tiwary View Email	Senior Engineering Associate	Engineering/Technical Executive
Whitney Tosh View Email	Technical	Engineering/Technical Executive
Donald Towns View Email	Associate Electrical Engineer	Engineering/Technical Executive
Deanna Woods View Email	Manufacturing Engineer-Aerospace Trans...	Engineering/Technical Executive
Brent Wright	Director, Transparencies	Engineering/Technical Executive
Jeff Yigdall View Email	Director, Glass and Process Engineerin...	Engineering/Technical Executive
Guillon Claude View Email	Market Research	Research & Development Executive
Marla Kruth View Email	Scientist	Research & Development Executive
David Walters View Email	Senior Development Chemist	Research & Development Executive
Richard A. Beuke View Email	Vice President, Flat Glass	Product Management Executive
Education: Columbia University Business School, executive management Georgia Southern University, bachelor's
Gary Danowski View Email	Vice President, Automotive Refinish, EMEA	Product Management Executive
Education: Ashland University, MBA Gannon University, mechanical engineering
Margie Fritz View Email	Manager of Product Stewardship For Pro...	Product Management Executive
Mike Perry View Email	Product Support	Product Management Executive
Mike L Rupert	Flat Glass New Product Manager	Product Management Executive
Biography: I worked closely with Dave in the design of a market research study for a new architectural glass coating. Dave developed the marketing research plan and the tactical elements necessary for conducting a nation-wide preference test with building design professionals. He was also responsible for the data analysis and final report generation. Dave presented the findings accurately and in an easy to understand manner. Our time frame was very tight and Dave did an excellent job in keeping the project on schedule. I would highly recommend Dave to anyone needing professional assistance in creating and conducting marketing research studies and data analysis.
Brad Cignetti View Email	Business Analyst	Business Development Executive
Howard Combs View Email	Director, Business Development and Support, Ppg Architectural Finishes	Business Development Executive
Douglas Eng View Email	Business Development Manager	Business Development Executive
Margie Hahn View Email	Manager, Industry and Business Analyst	Business Development Executive
Anup Jain View Email	Vice President-Strategic Planning & Corporate Development	Business Development Executive
Mark Leyenaar	Business Analyst	Business Development Executive
Scott Mabey View Email	Supply Chain Business Analyst	Business Development Executive
Katie Parrish	Senior Business Analyst	Business Development Executive
Robert Rega View Email	Business Development Manager Chlor-Alkali and Deri	Business Development Executive
Lynn Sutton View Email	Business Analyst	Business Development Executive
Thomas Molenda View Email	Manager of Strategic Planning	Planning Executive
Gary Armbrust View Email	Senior Counsel Labor and Employment	Legal Executive
Glenn E. Bost	Senior Vice President, General Counsel	Legal Executive
Biography: Mr. Glenn E. Bost II, is Senior Vice President, General Counsel of PPG Industries Inc since July 1,2010. Mr. Bost held the position of Vice President and Associate General Counsel from July 2006 through June 2010. Previously, Mr. Bost served as Associate General Counsel, Operations from July 2005 through June 2006 and Assistant General Counsel, Operations from September 2000 through June 2005. Mr. Bost joined PPG's legal department in Pittsburgh in 1985, working with finance and transactions, and then served as assistant counsel in the international law section supporting the Asia/Pacific region and Canada. He was promoted in 1991 to senior counsel, environment, health and safety, and in 1995 to general counsel, PPG Europe, for which he relocated to Paris. Bost returned to Pittsburgh in 1997 as corporate counsel, transactions. In 2000, he was named assistant general counsel, operations, with initial responsibility for PPG's commercial, labor and employment, and European attorneys, and responsibility added later for the company's litigation; environment, health and safety; and intellectual property attorneys. Bost was appointed associate general counsel, operations, in 2005, legal support for PPG's corporate operations, and he was named vice president in 2006. Prior to joining PPG, Bost was an attorney with the firm Thorp, Reed & Armstrong in Pittsburgh. He earned a bachelor's degree from Cornell University, a law degree from The Ohio State University, where he made Law Review, and a certificate in international law from the Parker School of Foreign and Comparative Law, Columbia University. Age: 59 Education: Ohio State University, JD Cornell University, B
Thomas S Mauck	Vice President-Protective & Marine Coatings	Manufacturing Executive
Jorge Steyerthal	Vice President-Coatings, & Managing Director, Latin America	Manufacturing Executive
Matt Gill View Email	Logistics Coordinator	Logistics Executive
Stephen T Lampe	Vice President Corporate Purchasing and Distribution	Logistics Executive
John Littell View Email	Director Distribution Architectural Finishes	Logistics Executive
John Ruch View Email	Distribution Manager	Logistics Executive
Rebecca Tomei View Email	Team Lead, Import Services	Logistics Executive
Jeanne Anderson View Email	Associate Buyer	Merchandise Management Executive
Nancy Johnson View Email	Associate Buyer	Merchandise Management Executive
Susan Corbett View Email	Facility Coordinator	Facilities Executive
David Kimble View Email	Plant Manager	Facilities Executive
Ron Marietti View Email	Maintenance Manager	Facilities Executive
Richard N Marks	Manager-Corporate Real Estate	Facilities Executive
Paul Moss View Email	Plant Manager	Facilities Executive
Lynne Tyler View Email	Facilities Manager	Facilities Executive
Dennis M Bailey	Director-Energy & Purchasing	Purchasing Executive
Richard C. Elias	Senior Vice President - Optical and Specialty Materials	Purchasing Executive
Biography: Mr. Richard C. Elias is Senior Vice President - Optical and Specialty Materials of PPG Industries Inc since July 1, 2008. Mr. Elias held the position of Vice President, Optical Products from April 2000 until June 2008. He joined PPG in 1975 as a Chemist at the company's Allison Park, Pa., coatings research and development center. He advanced through several product-development assignments, becoming program manager for photochromic lenses in 1989. Elias was named Vice President of Sales and Marketing when Transitions Optical, Inc., was established in 1990, and he became that business's President in 1995 and its Chief Executive Officer in 2007. In 1998, he was named General Manager of optical products for PPG, and he was elected Vice President, Optical Products, in early 2000. Age: 58 Education: Marquette University, Master's (Business Administration) University of South Carolina, BS (Chemistry)
Lynne Farabaugh View Email	Supply Chain Analyst Ii	Purchasing Executive
Janet Lippert	Purchasing Coordinator	Purchasing Executive
Michael Markun View Email	Supply Chain Analyst	Purchasing Executive
Wendy Serapiglia View Email	Manager Automotive Supply Chain	Purchasing Executive
Doug Sharbaugh	Manager Automotive Supply Chain	Purchasing Executive
Jeff Underwood	Materials Manager	Purchasing Executive
Wanda Waite View Email	Corporate Purchasing Card Program Manager	Purchasing Executive
Cindy Wozniac	Purchasing	Purchasing Executive
Russell Boston View Email	Supplier Quality Assurance and Supplier Development	Quality Executive
Michael Callahan View Email	Director Quality	Quality Executive
Stan Zaharewicz View Email	Quality Manager	Quality Executive
Nancy Ng View Email	Insurance Services Manager Ppg Canada ...	Insurance Executive
Ryan Aspy	Market Development Manager	Other
Biography: We worked with Dave on a new product we were bringing to market. This product represented a huge leap in technology over what was currently being used in the industry. So much so that OEM customers were having a hard time clearly understanding the value this product would bring to their end users simply because there was nothing of its type currently being used. We had strong data to show our customers how the technology would perform and we had great demo units that allowed them to visualize what the technology would do. However that did little to give them insight into how their customers would react to it. Therefore Dave directed a survey effort of end users focused around getting their input on how favorably they would respond to this technology and how they believed it would improve their customer experience. Daves expertise in this area was very evident. His leadership enabled us to devise a professional survey aimed at achieving our strategic goals. The result: we now have hard data representing end user preferences that not only allow our customers to make more informed decisions but also demonstrate to them our depth of knowledge of this overall market. I would highly encourage working with Dave on a project of this type.
Markus Banzhaf View Email	Lean Process Manager	Other
Todd Baranek View Email	Manager	Other
Regis Becker View Email	Chief Compliance Officer	Other
Education: Penn State, JD
Denise Bender View Email	Shared Services	Other
Stanton Bockoven	Director, Manager, Department Head	Other
John Boykin	Cad Designer	Other
Gregory Burdette View Email	Manager Strategic Sourcing	Other
Renee Burke View Email	Manager	Other
Christine Camsuzou View Email	Manager Strategic Development	Other
Andrew Carroll View Email	Market Manager	Other
Brett Craig	Vice President, President - Transitions Optical	Other
Peg Curry View Email	Department Manager	Other
Mike Dudash View Email	Incident Handler	Other
Mike Efaw View Email	Powerhouse Superintendent	Other
Mark Farren	Manager - Process Excellence	Other
Karen Fetchin View Email	Ehs Coordinator	Other
Kathleen Flood View Email	Staffing Coordinator	Other
Lisa Francis View Email	Project Manager	Other
John Furar	Project Manager	Other
Peter Garber View Email	Manager of Employee Relations	Other
John Gauthier	Enterprise Excellence Manager	Other
Denise Gil View Email	Iso Management Representative Cqa Area	Other
David Girvan	Float Process Manager	Other
Jean-Marie Greindl	Vice President Automotive OEM Coatings, Europe	Other
Gary Herbert View Email	Regional Manager	Other
Randall Hook View Email	District Manager	Other
James Howrylak View Email	Classification Analyst	Other
Jk Hsu View Email	Assistant Maintenance Manager	Other
Rory Hurley View Email	Manager	Other
Arian Hutton View Email	Manufacturers Representative-Keeler An...	Other
Kean Jalowy View Email	Float Process Manager	Other
Alison Jones View Email	Project Manager	Other
Diane Kappas	Vice President, Executive Officer	Other
Ed Kay View Email	Manager	Other
Christopher Keenan View Email	Manager	Other
Jennifer Kellam View Email	Sourcing	Other
Cynthia Kelly View Email	Supervisor, Pension Plans	Other
Thomas P Kerr	Vice President-Fiber Glass	Other
Danny Key View Email	Branch Manager	Other
Kathy Kiestler	Director, Manager, Department Head	Other
Amanda Kirkham View Email	Editorial Coordinator	Other
Timothy M Knavish	Vice President Automotive OEM Coatings, Americas	Other
Ted Krantz View Email	National Manager-Construction	Other
Theodore Ladd View Email	Manager	Other
Steve T Lampe	Vice President-Purchasing & Distribution	Other
Education: Pennsylvania State University, BS (Accounting)
Steve Lester View Email	Unkown Title	Other
Christina Liberto	Sourcing Agent	Other
Morgane Liorzou View Email	Traduction	Other
Maryanne Mackey View Email	Manager of Shared Services	Other
David Maton View Email	Project Manager	Other
Andrew Meshanko View Email	Sourcing Analyst I	Other
Steven Minick View Email	Senior Sourcing Agent Energy	Other
David P. Morris View Email	Vice President of Aerospace Coatings & Sealants	Other
Fran Nelson	Project Manager	Other
Cynthia A. Niekamp	Senior Vice President - Automotive Coatings	Other
Biography: Ms. Cynthia A. Niekamp is Senior Vice President - Automotive Coatings of PPG Industries Inc since August 1, 2010. Ms. Niekamp was appointed Vice President, Automotive Coatings in January 2009 when she joined PPG from BorgWarner, Inc. She previously served as President of BorgWarner’s TorqTransfer Systems business from 2004 until 2008. She started her career with General Motors, where she progressed through several production supervisory and engineering positions with the Delco Moraine division. She moved to France with General Motors as resident controller wheel brake systems, and returned to the United States in 1989 as plant manager, anti-lock braking systems, Delco Moraine division. From 1990 to 1995, Niekamp worked for TRW Automotive, Inc., where her last position was managing director, transportation systems. She then joined the Mead Corp. as vice president, corporate strategy and planning, and in 1998 was named president, specialty paper division. Following the 2002 merger of Mead with Westvaco Corp., Niekamp served as senior vice president, strategy and specialty operations, and then as senior vice president and chief financial officer for MeadWestvaco. She left in 2004 and joined BorgWarner, Inc., where she was president of the global TorqTransfer Systems business unit until 2008. She earned a bachelor's degree in industrial engineering from Purdue University and a Master of Business Administration degree from Harvard University. Age: 52 Education: Harvard University, MBA Purdue University, BS (Industrial Engineering)
Reginald Norton	Vice President-Global Refinish & Corporate Supply Chain	Other
Education: Trinity College , University of Dublin, doctoral (Chemistry)
Federico Olivares View Email	Manager Market Development	Other
John R. Outcalt	Vice President-Automotive Refinish	Other
Education: Baldwin Wallace College, bachelor's (Business Administration) Baldwin-Wallace College, bachelor's (Business Administration)
Maria Palazzolo View Email	Tss Support Specialist	Other
Douglas S Pegg	Vice President-Packaging Coatings	Other
Education: Queens University, bachelor's (Chemical Engineering)
Joanne Pelliccioni View Email	Project Manager	Other
Jean Pero View Email	Branch Manager	Other
David Revitsky View Email	System Consultant	Other
Diane Rogers	Manager Enterprise Excellence	Other
Elaine Sanchez View Email	Producer-Video	Other
Ronald Schaffhauser View Email	Director, Manager, Department Head	Other
Jeffrey Schultz View Email	Pricing Manager	Other
Jeff Scott View Email	Application Manager	Other
Tom Seagal View Email	Director of Staffing	Other
Jason Shanafelt View Email	Manager, Strategic Sourcing € Packaging	Other
Paula Shepard View Email	Vice President-Silica Products	Other
Amy Slone View Email	Manager Ii	Other
Anita Smith View Email	Licensing Coordinator	Other
Philip Stavor View Email	Senior Project Manager	Other
Cory Steffek View Email	Group Leader	Other
Kevin Sullivan View Email	Senior Vice President Chemicals	Other
Tom Thompson View Email	Director North America	Other
Luiz Totti View Email	Latin America Industrial Coatings Gene...	Other
Ram Vadlamannati	Vice President Architectural Coatings EMEA	Other
Philip Wyche View Email	Manager	Other
Pauline Yuen View Email	Vice President Refinish Coatings, Asia, and Architectural Coatings, China	Other

Significant Developments

PPG Industries Inc Announces Quarterly Dividend

Jul 19, 2012

PPG Industries Inc announced that the board of directors have declared a regular quarterly dividend of $0.59 per share, payable September 12, 2012to shareholders of record August 10, 2012.

PPG Industries's Commodity Chemicals Business To Merge With Georgia Gulf Corporation

Jul 19, 2012

PPG Industries and Georgia Gulf Corporation announced that the boards of directors of both companies have approved definitive agreements under which PPG will separate its commodity chemicals business and then merge it with Georgia Gulf. This business combination is expected to deliver enhanced value for the shareholders of both companies. The terms of the transaction call for PPG to form a new company by separating its commodity chemicals business through a spinoff or split off, and then immediately merging the business with Georgia Gulf or a Georgia Gulf subsidiary in a Reverse Morris Trust transaction. The merger will result in PPG shareholders receiving approximately 50.5% of the shares of the merged company (The Newly Merged Company), with existing Georgia Gulf shareholders owning approximately 49.5% of The Newly Merged Company. The transaction value of approximately $2.1 billion consists of $900 million of cash to be paid to PPG, approximately $95 million of assumed debt, about $87 million of minority interest, and Georgia Gulf shares to be received by PPG shareholders valued at $1.0 billion based on Georgia Gulf's closing stock price on July 18, 2012. In the transaction, PPG will transfer related environmental liabilities, pension assets and liabilities and other post-employment benefits (OPEB) obligations to The Newly Merged Company. Following completion of the transaction, which is expected to occur in late 2012 or early 2013.

PPG Industries Expands JV With Asian Paints Ltd-Reuters

Jul 17, 2012

Reuters reported that PPG Industries has received the necessary approvals from Indian authorities to expand its coatings joint venture by creating a second joint venture with Asian Paints Ltd, India's coatings company. While financial terms were not disclosed PPG and Asian Paints will expand their current 50-50 joint venture to serve India's industrial liquid, marine, consumer packaging and transportation coatings customers. Both joint ventures leverage PPG's global scale, technology and customer relationships with APL's Indian customer base, manufacturing footprint, distribution channels and local relationships, according to Horton. PPG and APL also will form a second 50-50 joint venture, Asian Paints PPG Limited, to serve protective, industrial powder, industrial container and light industrial coatings customers.

PPG Industries Announces Licensing Agreement with China-based Henan Billions for Titanium Dioxide Technology

Jun 26, 2012

PPG Industries announced that it has signed a memorandum of understanding with Henan Billions Chemicals Co., Ltd. (Billions), by which PPG will license certain chloride-based technologies to Billions for use at Billions' titanium dioxide (TiO2) refinement facilities in China. In addition, PPG has signed a long-term purchase agreement for titanium dioxide with Billions. Commercial terms of the agreements and license proceeds from Billions to PPG were not disclosed. PPG intends to use the chloride-based TiO2 manufactured by Billions for various end-use applications, including paints and other coatings. The TiO2 also would be available for sale to third parties.

PPG Industries Announces Quarterly Dividend Of $0.59 Per Share

Apr 19, 2012

PPG Industries announced that its Board of Directors approved a $0.02 per-share increase in the company's dividend, declaring a regular quarterly dividend of $0.59 per share, payable June 12 to shareholders of record May 10. PPG's prior quarterly dividend was $0.57 per share.

PPG Industries And Argex Mining Inc Announces Agreement For Titanium Dioxide Collaboration

Apr 03, 2012

PPG Industries announced that it has entered into a technical collaboration agreement with Argex Mining Inc to utilize PPG's existing technology and know-how relating to the manufacture of titanium dioxide (TiO2) pigment for paints and coatings applications. The TiO2 is intended to be compatible with various end-use applications for PPG and would be produced by Argex. Terms were not disclosed. The agreement provides for the negotiation of a purchase and supply agreement between Argex and PPG based on the successful development of the treatment technologies. Both companies have agreed to certain terms of mutual exclusivity during the negotiation period.

PPG Industries Announce Quarterly Dividend of $0.57 Per Share

Jan 19, 2012

PPG Industries announced that it has declared a regular quarterly dividend of $0.57 per share, payable March 12 to shareholders of record February 17.

Monberg & Thorsen A/S Announces Closing of Transfer of Dyrup A/S to PPG

Jan 05, 2012

Monberg & Thorsen A/S announced that that as stated on October 17, 2011 the closing of the divestment of Dyrup A/S took place on the agreed date, January 5, 2012. The final transfer of Dyrup A/S to PPG was finalized on the terms previously announced.

PPG Industries Announces Repurchase Of 10 Million Shares

Oct 21, 2011

PPG Industries announced that its Board of Directors authorized the repurchase of an additional 10 million shares of outstanding common stock. The new authorization is effective immediately, does not expire and gives management discretion in determining the conditions under which shares may be purchased from time to time.

PPG Industries Announces Quarterly Dividend Of $0.57 Per Share

Oct 21, 2011

PPG Industries announced that the Board of Directors has declared a regular quarterly dividend of $0.57 per share, payable December 12, 2011 to shareholders of record November 10, 2011.

PPG Industries Finalizes Agreement To Purchase Dyrup A/S From Monberg & Thorsen A/S

Oct 18, 2011

PPG Industries announced that it has finalized the purchase agreement to acquire European coatings company Dyrup A/S, based in Copenhagen, Denmark, from its owner, Monberg & Thorsen A/S, a public holding company. The final transaction value, including assumed debt, has been set at EUR115 million ($160 million), based on final due diligence. Both parties have agreed on a closing date of January 5, 2012. Dyrup, a European producer of architectural coatings and specialty products. Dyrup's brands include Bondex, Gori and Xylophene, and its products are sold primarily in Denmark, France, Germany, Portugal, Poland and Spain through professional and do-it-yourself channels.

Universal Display Corporation And PPG Industries Announces New OLED Supply And Service Agreement

Sep 27, 2011

Universal Display Corporation and PPG Industries announced that the Companies have entered into a new organic light-emitting diode (OLED) materials supply and service agreement. Universal Display is the supplier of phosphorescent OLED materials to the OLED display and lighting industries. Under the new agreement, PPG will remain the exclusive manufacturer of Universal Display's phosphorescent OLED materials. The new agreement will replace Universal Display's current OLED Materials Supply and Service Agreement with PPG Industries. The term of the new agreement runs through December 31, 2014. The new agreement is substantially similar to the current agreement.

PPG Industries Announces ACCU-TABWastewater Tablets For Aerobic And On-Site Systems

Sep 27, 2011

PPG Industries announced that it has introduced ACCU-TAB(R) wastewater tablets that provide enhanced erosion control and reduced wicking to effectively kill bacteria, control algae and destroy organic contaminants in small-scale aerobic water treatment systems. Patented Accu-Tab calcium hypochlorite wastewater tablets are manufactured with HI-SIL(TM) H-303 silica to provide a steady source of available chlorine. The PPG-engineered silica is an erosion modifier that replaces aluminum stearate, which can be violently reactive under certain environmental conditions. Accu-Tab wastewater tablets are compatible with standard 2 5/8-inch feeders, contain 73% nominal available chlorine and are made and serviced in the U.S. with no foreign materials. The tablets have a beveled edge and smaller 2.5-inch diameter to reduce wicking.

PPG Industries Extends Partnership With Ebtech Industrial

Sep 27, 2011

PPG Industries announced the extension of its partnership with Ebtech Industrial, a supplier of modular building solutions, by offering MIL-TOUGH ICB(inorganic composite binder) blast/ballistic panels - an alternative to steel-reinforced concrete for asset protection and blast mitigation. In partnership with the Industrial Hardening and Protective Systems division of Ebtech Industrial Building Solutions (Ebtech), PPG is bringing a complete integrated building solution to the marketplace, addressing the demand for asset protection.

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009
Filed Currency	USD	USD	USD	USD	USD
Exchange Rate (Period Average)	1	1	1	1	1
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Sales	14,885.0	13,423.0	12,239.0	15,849.0	12,220.0
Revenue	14,885.0	13,423.0	12,239.0	15,849.0	12,220.0
Total Revenue	14,885.0	13,423.0	12,239.0	15,849.0	12,220.0
Cost of Revenue	9,081.0	8,214.0	7,539.0	10,155.0	7,828.0
Cost of Revenue, Total	9,081.0	8,214.0	7,539.0	10,155.0	7,828.0
Gross Profit	5,804.0	5,209.0	4,700.0	5,694.0	4,392.0
Selling/General/Administrative Expense	3,234.0	2,979.0	2,936.0	3,432.0	2,310.0
Total Selling/General/Administrative Expenses	3,234.0	2,979.0	2,936.0	3,432.0	2,310.0
Research & Development	430.0	394.0	388.0	451.0	348.0
Depreciation	346.0	346.0	354.0	428.0	345.0
Amortization of Intangibles	121.0	124.0	126.0	135.0	58.0
Depreciation/Amortization	467.0	470.0	480.0	563.0	403.0
Interest Expense - Operating	210.0	189.0	193.0	254.0	93.0
Interest Expense - Net Operating	210.0	189.0	193.0	254.0	93.0
Interest Income - Operating	-42.0	-34.0	-28.0	-26.0	-20.0
Investment Income - Operating	-37.0	-45.0	5.0	-3.0	-32.0
Interest/Investment Income - Operating	-79.0	-79.0	-23.0	-29.0	-52.0
Interest Expense (Income) - Net Operating Total	131.0	110.0	170.0	225.0	41.0
Purchased R&D Written-Off	-	0.0	0.0	23.0	0.0
Restructuring Charge	0.0	0.0	186.0	163.0	0.0
Litigation	12.0	12.0	13.0	4.0	24.0
Loss (Gain) on Sale of Assets - Operating	-12.0	-8.0	-36.0	-	-
Other Unusual Expense (Income)	-	-	-	-23.0	-14.0
Unusual Expense (Income)	0.0	4.0	163.0	167.0	10.0
Other Operating Expense	73.0	84.0	65.0	61.0	59.0
Other, Net	-128.0	-127.0	-119.0	-113.0	-94.0
Other Operating Expenses, Total	-55.0	-43.0	-54.0	-52.0	-35.0
Total Operating Expense	13,288.0	12,128.0	11,622.0	14,941.0	10,905.0
Operating Income	1,597.0	1,295.0	617.0	908.0	1,315.0
Income Before Tax	1,597.0	1,295.0	617.0	908.0	1,315.0
Total Income Tax	385.0	415.0	191.0	284.0	383.0
Income After Tax	1,212.0	880.0	426.0	624.0	932.0
Minority Interest	-117.0	-111.0	-90.0	-86.0	-76.0
Net Income Before Extraord Items	1,095.0	769.0	336.0	538.0	856.0
Discontinued Operations	-	-	0.0	0.0	-22.0
Total Extraord Items	-	-	0.0	0.0	-22.0
Net Income	1,095.0	769.0	336.0	538.0	834.0
Income Available to Common Excl Extraord Items	1,095.0	769.0	336.0	538.0	856.0
Income Available to Common Incl Extraord Items	1,095.0	769.0	336.0	538.0	834.0
Basic/Primary Weighted Average Shares	157.3	164.5	164.8	164.6	164.5
Basic EPS Excl Extraord Items	6.96	4.67	2.04	3.27	5.20
Basic/Primary EPS Incl Extraord Items	6.96	4.67	2.04	3.27	5.07
Dilution Adjustment	0.0	0.0	0.0	0.0	0.0
Diluted Net Income	1,095.0	769.0	336.0	538.0	834.0
Diluted Weighted Average Shares	159.3	165.9	165.5	165.4	165.9
Diluted EPS Excl Extraord Items	6.87	4.64	2.03	3.25	5.16
Diluted EPS Incl Extraord Items	6.87	4.64	2.03	3.25	5.03
Dividends per Share - Common Stock Primary Issue	2.26	2.18	2.13	2.09	2.04
Gross Dividends - Common Stock	355.0	360.0	353.0	343.0	335.0
Interest Expense, Supplemental	210.0	189.0	193.0	254.0	93.0
Interest Capitalized, Supplemental	-9.0	-7.0	-9.0	-8.0	-11.0
Depreciation, Supplemental	346.0	346.0	354.0	428.0	345.0
Total Special Items	-9.0	-81.0	22.0	167.0	10.0
Normalized Income Before Tax	1,588.0	1,214.0	639.0	1,075.0	1,325.0
Effect of Special Items on Income Taxes	-2.2	-26.0	6.8	45.0	2.9
Inc Tax Ex Impact of Sp Items	382.8	389.0	197.8	329.0	385.9
Normalized Income After Tax	1,205.2	825.0	441.2	746.0	939.1
Normalized Inc. Avail to Com.	1,088.2	714.0	351.2	660.0	863.1
Basic Normalized EPS	6.92	4.34	2.13	4.01	5.25
Diluted Normalized EPS	6.83	4.30	2.12	3.99	5.20
Amort of Intangibles, Supplemental	121.0	124.0	126.0	135.0	58.0
Rental Expenses	249.0	233.0	241.0	267.0	188.0
Advertising Expense, Supplemental	245.0	288.0	268.0	310.0	157.0
Research & Development Exp, Supplemental	430.0	394.0	388.0	451.0	348.0
Normalized EBIT	1,719.0	1,324.0	809.0	1,300.0	1,366.0
Normalized EBITDA	2,186.0	1,794.0	1,289.0	1,863.0	1,769.0
Current Tax - Domestic	193.0	62.0	3.0	140.0	294.0
Current Tax - Foreign	176.0	170.0	129.0	141.0	156.0
Current Tax - Local	20.0	15.0	15.0	29.0	31.0
Current Tax - Total	389.0	247.0	147.0	310.0	481.0
Deferred Tax - Domestic	11.0	70.0	53.0	54.0	-66.0
Deferred Tax - Foreign	-17.0	2.0	-13.0	-86.0	-25.0
Deferred Tax - Local	2.0	11.0	4.0	6.0	-7.0
Deferred Tax - Other	0.0	85.0	-	-	-
Deferred Tax - Total	-4.0	168.0	44.0	-26.0	-98.0
Income Tax - Total	385.0	415.0	191.0	284.0	383.0
Interest Cost - Domestic	254.0	249.0	244.0	258.0	214.0
Service Cost - Domestic	63.0	64.0	67.0	72.0	69.0
Prior Service Cost - Domestic	1.0	5.0	6.0	11.0	14.0
Expected Return on Assets - Domestic	-312.0	-278.0	-228.0	-283.0	-267.0
Actuarial Gains and Losses - Domestic	120.0	121.0	129.0	69.0	77.0
Curtailments & Settlements - Domestic	5.0	0.0	0.0	39.0	12.0
Domestic Pension Plan Expense	131.0	161.0	218.0	166.0	119.0
Interest Cost - Post-Retirement	63.0	64.0	68.0	66.0	64.0
Service Cost - Post-Retirement	19.0	19.0	20.0	21.0	24.0
Prior Service Cost - Post-Retirement	-12.0	-5.0	-13.0	-16.0	-12.0
Actuarial Gains and Losses - Post-Retir.	30.0	19.0	34.0	26.0	33.0
Curtailments & Settlements - Post-Retir.	0.0	0.0	0.0	-5.0	5.0
Post-Retirement Plan Expense	100.0	97.0	109.0	92.0	114.0
Defined Contribution Expense - Domestic	38.0	31.0	25.0	22.0	14.0
Defined Contribution Expense Retirement	-	-	-	2.0	2.0
Total Pension Expense	269.0	289.0	352.0	282.0	249.0
Discount Rate - Domestic	5.30%	5.70%	6.10%	6.20%	5.70%
Discount Rate - Post-Retirement	5.30%	5.70%	6.10%	6.20%	5.70%
Expected Rate of Return - Domestic	7.60%	7.80%	7.90%	8.00%	8.30%
Expected Rate of Return - Post-Retir.	7.60%	7.80%	7.90%	8.00%	8.30%
Compensation Rate - Domestic	3.80%	3.90%	3.90%	4.10%	4.00%
Compensation Rate - Post-Retirement	3.80%	3.80%	3.90%	4.10%	4.00%
Total Plan Interest Cost	317.0	313.0	312.0	324.0	278.0
Total Plan Service Cost	82.0	83.0	87.0	93.0	93.0
Total Plan Expected Return	-312.0	-278.0	-228.0	-283.0	-267.0

Annual Balance Sheet

Financials in: USD (mil)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Reclassified Normal 31-Dec-2008
Filed Currency	USD	USD	USD	USD	USD
Exchange Rate	1	1	1	1	1
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash & Equivalents	1,457.0	1,341.0	1,057.0	1,021.0	526.0
Short Term Investments	25.0	637.0	7.0	-	-
Cash and Short Term Investments	1,482.0	1,978.0	1,064.0	1,021.0	526.0
Accounts Receivable - Trade, Gross	2,583.0	2,538.0	2,405.0	2,640.0	2,573.0
Provision for Doubtful Accounts	-71.0	-91.0	-122.0	-103.0	-51.0
Trade Accounts Receivable - Net	2,512.0	2,447.0	2,283.0	2,537.0	2,522.0
Other Receivables	318.0	331.0	345.0	267.0	237.0
Total Receivables, Net	2,830.0	2,778.0	2,628.0	2,804.0	2,759.0
Inventories - Finished Goods	935.0	912.0	918.0	1,045.0	937.0
Inventories - Work In Progress	144.0	136.0	125.0	134.0	131.0
Inventories - Raw Materials	414.0	411.0	390.0	412.0	323.0
Inventories - Other	114.0	114.0	115.0	111.0	141.0
Total Inventory	1,607.0	1,573.0	1,548.0	1,702.0	1,532.0
Restricted Cash - Current	-	-	-	-	1,706.0
Deferred Income Tax - Current Asset	473.0	451.0	485.0	515.0	418.0
Other Current Assets	302.0	278.0	256.0	306.0	-
Other Current Assets, Total	775.0	729.0	741.0	821.0	2,124.0
Total Current Assets	6,694.0	7,058.0	5,981.0	6,348.0	6,941.0
Buildings	1,482.0	1,467.0	1,476.0	1,416.0	1,391.0
Land/Improvements	482.0	477.0	478.0	453.0	418.0
Machinery/Equipment	5,736.0	5,587.0	5,507.0	5,338.0	6,164.0
Construction in Progress	220.0	232.0	163.0	232.0	168.0
Other Property/Plant/Equipment	694.0	652.0	689.0	604.0	553.0
Property/Plant/Equipment - Gross	8,614.0	8,415.0	8,313.0	8,043.0	8,694.0
Accumulated Depreciation	-5,893.0	-5,729.0	-5,559.0	-5,245.0	-6,116.0
Property/Plant/Equipment - Net	2,721.0	2,686.0	2,754.0	2,798.0	2,578.0
Goodwill, Net	2,660.0	2,719.0	2,784.0	2,641.0	1,507.0
Intangibles - Gross	1,604.0	1,640.0	1,659.0	1,570.0	806.0
Accumulated Intangible Amortization	-795.0	-695.0	-577.0	-437.0	-336.0
Intangibles, Net	1,125.0	1,268.0	1,416.0	1,472.0	614.0
LT Investment - Affiliate Companies	261.0	416.0	365.0	381.0	190.0
LT Investments - Other	126.0	134.0	134.0	128.0	180.0
Long Term Investments	387.0	550.0	499.0	509.0	370.0
Other Long Term Assets	795.0	694.0	806.0	930.0	619.0
Other Long Term Assets, Total	795.0	694.0	806.0	930.0	619.0
Total Assets	14,382.0	14,975.0	14,240.0	14,698.0	12,629.0
Accounts Payable	1,612.0	1,626.0	1,384.0	1,402.0	1,182.0
Payable/Accrued	-	-	-	-	663.0
Accrued Expenses	414.0	405.0	355.0	378.0	326.0
Notes Payable/Short Term Debt	108.0	28.0	272.0	903.0	1,819.0
Income Taxes Payable	51.0	56.0	33.0	62.0	49.0
Other Payables	5.0	17.0	123.0	92.0	-
Other Current Liabilities	1,512.0	1,493.0	1,410.0	1,373.0	593.0
Other Current liabilities, Total	1,568.0	1,566.0	1,566.0	1,527.0	642.0
Total Current Liabilities	3,702.0	3,625.0	3,577.0	4,210.0	4,632.0
Long Term Debt	3,574.0	4,043.0	3,074.0	3,009.0	1,201.0
Total Long Term Debt	3,574.0	4,043.0	3,074.0	3,009.0	1,201.0
Total Debt	3,682.0	4,071.0	3,346.0	3,912.0	3,020.0
Deferred Income Tax - LT Liability	272.0	293.0	328.0	425.0	164.0
Deferred Income Tax	272.0	293.0	328.0	425.0	164.0
Minority Interest	197.0	195.0	169.0	156.0	161.0
Pension Benefits - Underfunded	2,275.0	1,970.0	1,954.0	2,322.0	1,393.0
Other Long Term Liabilities	1,113.0	1,211.0	1,385.0	1,243.0	927.0
Other Liabilities, Total	3,388.0	3,181.0	3,339.0	3,565.0	2,320.0
Total Liabilities	11,133.0	11,337.0	10,487.0	11,365.0	8,478.0
Common Stock	484.0	484.0	484.0	484.0	484.0
Common Stock	484.0	484.0	484.0	484.0	484.0
Additional Paid-In Capital	783.0	725.0	609.0	580.0	553.0
Retained Earnings (Accumulated Deficit)	9,288.0	8,548.0	8,139.0	8,156.0	7,963.0
Treasury Stock - Common	-5,506.0	-4,708.0	-4,218.0	-4,259.0	-4,267.0
Other Comprehensive Income	-1,800.0	-1,411.0	-1,261.0	-1,628.0	-582.0
Other Equity, Total	-1,800.0	-1,411.0	-1,261.0	-1,628.0	-582.0
Total Equity	3,249.0	3,638.0	3,753.0	3,333.0	4,151.0
Total Liabilities & Shareholders’ Equity	14,382.0	14,975.0	14,240.0	14,698.0	12,629.0
Shares Outstanding - Common Stock Primary Issue	151.9	160.4	165.7	164.2	163.8
Total Common Shares Outstanding	151.9	160.4	165.7	164.2	163.8
Treasury Shares - Common Stock Primary Issue	138.7	130.2	124.9	126.4	126.8
Employees	38,400	38,300	39,900	44,900	34,900
Number of Common Shareholders	18,151	18,894	19,467	21,784	21,644
Accumulated Intangible Amort, Suppl.	795.0	695.0	577.0	437.0	336.0
Total Long Term Debt, Supplemental	3,627.0	4,490.0	3,054.0	3,126.0	188.0
Long Term Debt Maturing within 1 Year	75.0	2.0	4.0	119.0	1.0
Long Term Debt Maturing in Year 2	613.0	477.0	10.0	378.0	116.0
Long Term Debt Maturing in Year 3	2.0	1,088.0	477.0	1.0	0.0
Long Term Debt Maturing in Year 4	391.0	201.0	605.0	76.0	0.0
Long Term Debt Maturing in Year 5	421.0	201.0	2.0	601.0	71.0
Long Term Debt Maturing in 2-3 Years	615.0	1,565.0	487.0	379.0	116.0
Long Term Debt Maturing in 4-5 Years	812.0	402.0	607.0	677.0	71.0
Long Term Debt Matur. in Year 6 & Beyond	2,125.0	2,521.0	1,956.0	1,951.0	0.0
Total Capital Leases, Supplemental	32.0	34.0	32.0	6.0	1.0
Capital Lease Payments Due in Year 1	2.0	2.0	2.0	2.0	1.0
Capital Lease Payments Due in Year 2	2.0	2.0	1.5	0.5	0.0
Capital Lease Payments Due in Year 3	2.0	2.0	1.5	0.5	0.0
Capital Lease Payments Due in Year 4	2.0	2.0	1.5	0.5	0.0
Capital Lease Payments Due in Year 5	2.0	2.0	1.5	0.5	0.0
Capital Lease Payments Due in 2-3 Years	4.0	4.0	3.0	1.0	0.0
Capital Lease Payments Due in 4-5 Years	4.0	4.0	3.0	1.0	0.0
Cap. Lease Pymts. Due in Year 6 & Beyond	22.0	24.0	24.0	2.0	0.0
Total Operating Leases, Supplemental	643.0	868.0	646.0	633.0	320.0
Operating Lease Payments Due in Year 1	162.0	160.0	129.0	126.0	91.0
Operating Lease Payments Due in Year 2	124.0	127.0	103.0	107.0	70.0
Operating Lease Payments Due in Year 3	97.0	225.0	82.0	82.0	51.0
Operating Lease Payments Due in Year 4	74.0	76.0	64.0	65.0	36.0
Operating Lease Payments Due in Year 5	55.0	135.0	54.0	51.0	28.0
Operating Lease Pymts. Due in 2-3 Years	221.0	352.0	185.0	189.0	121.0
Operating Lease Pymts. Due in 4-5 Years	129.0	211.0	118.0	116.0	64.0
Oper. Lse. Pymts. Due in Year 6 & Beyond	131.0	145.0	214.0	202.0	44.0
Pension Obligation - Domestic	5,333.0	4,952.0	4,545.0	4,096.0	3,744.0
Post-Retirement Obligation	1,394.0	1,235.0	1,089.0	1,150.0	1,072.0
Plan Assets - Domestic	4,382.0	4,127.0	3,594.0	2,837.0	3,403.0
Funded Status - Domestic	-951.0	-825.0	-951.0	-1,259.0	-341.0
Funded Status - Post-Retirement	-1,394.0	-1,235.0	-1,089.0	-1,150.0	-1,072.0
Accumulated Obligation - Domestic	5,117.0	4,695.0	4,245.0	3,773.0	3,509.0
Accumulated Obligation - Post-Retirement	1,394.0	1,235.0	1,089.0	1,150.0	1,072.0
Total Funded Status	-2,345.0	-2,060.0	-2,040.0	-2,409.0	-1,413.0
Discount Rate - Domestic	5.30%	5.70%	5.70%	6.10%	6.20%
Discount Rate - Post-Retirement	5.30%	5.70%	5.70%	6.10%	6.20%
Compensation Rate - Domestic	3.80%	3.90%	3.90%	3.90%	4.10%
Compensation Rate - Post-Retirement	3.80%	3.90%	3.90%	3.90%	4.10%
Accrued Liabilities - Domestic	-1,082.0	-942.0	-1,064.0	-1,364.0	-530.0
Accrued Liabilities - Post-Retirement	-1,394.0	-1,235.0	-1,089.0	-1,150.0	-1,072.0
Other Assets, Net - Domestic	59.0	63.0	60.0	51.0	148.0
Net Assets Recognized on Balance Sheet	-2,417.0	-2,114.0	-2,093.0	-2,463.0	-1,454.0
Equity % - Domestic	30.50%	38.00%	45.00%	46.00%	60.00%
Debt Securities % - Domestic	61.20%	59.00%	53.00%	49.00%	36.00%
Real Estate % - Domestic	8.30%	3.00%	2.00%	5.00%	4.00%
Total Plan Obligations	6,727.0	6,187.0	5,634.0	5,246.0	4,816.0
Total Plan Assets	4,382.0	4,127.0	3,594.0	2,837.0	3,403.0

Annual Cash Flows

Financials in: USD (mil)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009
Filed Currency	USD	USD	USD	USD	USD
Exchange Rate (Period Average)	1	1	1	1	1
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Income/Starting Line	1,212.0	880.0	426.0	624.0	910.0
Depreciation	467.0	470.0	480.0	563.0	403.0
Depreciation/Depletion	467.0	470.0	480.0	563.0	403.0
Discontinued Operations	-	-	0.0	0.0	23.0
Unusual Items	-11.0	-11.0	52.0	138.0	0.0
Purchased R&D	-	0.0	0.0	23.0	0.0
Equity in Net Earnings (Loss)	-18.0	-39.0	17.0	15.0	-11.0
Other Non-Cash Items	10.0	-	59.0	52.0	16.0
Non-Cash Items	-19.0	-50.0	128.0	228.0	28.0
Accounts Receivable	-129.0	-178.0	235.0	-4.0	-224.0
Inventories	-73.0	-34.0	232.0	79.0	-49.0
Other Assets	-35.0	142.0	74.0	-102.0	-124.0
Accrued Expenses	39.0	-	-	-	-
Payable/Accrued	22.0	131.0	-174.0	93.0	65.0
Other Liabilities	-12.0	-1.0	-61.0	-132.0	3.0
Other Operating Cash Flow	-36.0	-50.0	5.0	88.0	51.0
Changes in Working Capital	-224.0	10.0	311.0	22.0	-278.0
Cash from Operating Activities	1,436.0	1,310.0	1,345.0	1,437.0	1,063.0
Purchase of Fixed Assets	-390.0	-307.0	-239.0	-383.0	-364.0
Capital Expenditures	-390.0	-307.0	-239.0	-383.0	-364.0
Acquisition of Business	-56.0	-34.0	-26.0	-1,673.0	-233.0
Sale of Business	-	0.0	0.0	225.0	0.0
Sale/Maturity of Investment	749.0	-	-	-	-
Purchase of Investments	-125.0	-624.0	0.0	0.0	-
Other Investing Cash Flow	175.0	16.0	62.0	1,956.0	-1,610.0
Other Investing Cash Flow Items, Total	743.0	-642.0	36.0	508.0	-1,843.0
Cash from Investing Activities	353.0	-949.0	-203.0	125.0	-2,207.0
Other Financing Cash Flow	-109.0	-40.0	-77.0	-39.0	-42.0
Financing Cash Flow Items	-109.0	-40.0	-77.0	-39.0	-42.0
Cash Dividends Paid - Common	-355.0	-360.0	-353.0	-343.0	-335.0
Total Cash Dividends Paid	-355.0	-360.0	-353.0	-343.0	-335.0
Sale/Issuance of Common	81.0	146.0	12.0	13.0	194.0
Repurchase/Retirement of Common	-858.0	-586.0	-59.0	-7.0	-274.0
Common Stock, Net	-777.0	-440.0	-47.0	6.0	-80.0
Issuance (Retirement) of Stock, Net	-777.0	-440.0	-47.0	6.0	-80.0
Short Term Debt Issued	4.0	8.0	1.0	329.0	1,129.0
Short Term Debt Reduction	0.0	-225.0	-633.0	-442.0	-83.0
Short Term Debt, Net	13.0	-240.0	-1,063.0	-505.0	1,744.0
Long Term Debt Issued	3.0	990.0	429.0	2,681.0	0.0
Long Term Debt Reduction	-407.0	-14.0	-12.0	-2,857.0	-71.0
Long Term Debt, Net	-404.0	976.0	417.0	-176.0	-71.0
Issuance (Retirement) of Debt, Net	-391.0	736.0	-646.0	-681.0	1,673.0
Cash from Financing Activities	-1,632.0	-104.0	-1,123.0	-1,057.0	1,216.0
Foreign Exchange Effects	-41.0	27.0	17.0	-10.0	11.0
Net Change in Cash	116.0	284.0	36.0	495.0	83.0
Net Cash - Beginning Balance	1,341.0	1,057.0	1,021.0	526.0	443.0
Net Cash - Ending Balance	1,457.0	1,341.0	1,057.0	1,021.0	526.0
Cash Interest Paid	212.0	189.0	201.0	228.0	102.0
Cash Taxes Paid	353.0	198.0	197.0	300.0	475.0

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009
Filed Currency	USD	USD	USD	USD	USD
Exchange Rate (Period Average)	1	1	1	1	1
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net sales	14,885.0	13,423.0	12,239.0	15,849.0	12,220.0
Total Revenue	14,885.0	13,423.0	12,239.0	15,849.0	12,220.0
Cost of sales exclusive of depreciation	9,081.0	8,214.0	7,539.0	10,155.0	7,828.0
Selling general and administrative	3,234.0	2,979.0	2,936.0	3,432.0	2,310.0
Depreciation	346.0	346.0	354.0	428.0	345.0
Amortization	121.0	124.0	126.0	135.0	58.0
Research and development net	430.0	394.0	388.0	451.0	348.0
Interest	210.0	189.0	193.0	254.0	93.0
Interest Income	-42.0	-34.0	-28.0	-26.0	-20.0
Asbestos Lawsuit	12.0	12.0	13.0	4.0	24.0
Business restructuring	0.0	0.0	186.0	163.0	0.0
Other Charges	73.0	84.0	65.0	61.0	59.0
Royalty Income	-55.0	-58.0	-45.0	-52.0	-48.0
Share of net earnings (loss) of equity a	-37.0	-45.0	5.0	-3.0	-32.0
Gain on sale of assets	-12.0	-8.0	-36.0	-	-
Gain on divestiture of automotive glass	-	-	-	-23.0	-14.0
Other (earnings)/charges - net (Note B)	-73.0	-69.0	-74.0	-61.0	-46.0
In Process Research and Development	-	0.0	0.0	23.0	0.0
Total Operating Expense	13,288.0	12,128.0	11,622.0	14,941.0	10,905.0
Net Income Before Taxes	1,597.0	1,295.0	617.0	908.0	1,315.0
Provision for Income Taxes	385.0	415.0	191.0	284.0	383.0
Net Income After Taxes	1,212.0	880.0	426.0	624.0	932.0
Minority Interest	-117.0	-111.0	-90.0	-86.0	-76.0
Net Income Before Extra. Items	1,095.0	769.0	336.0	538.0	856.0
Discontinued Operation	-	-	0.0	0.0	-22.0
Net Income	1,095.0	769.0	336.0	538.0	834.0
Income Available to Com Excl ExtraOrd	1,095.0	769.0	336.0	538.0	856.0
Income Available to Com Incl ExtraOrd	1,095.0	769.0	336.0	538.0	834.0
Basic Weighted Average Shares	157.3	164.5	164.8	164.6	164.5
Basic EPS Excluding ExtraOrdinary Items	6.96	4.67	2.04	3.27	5.20
Basic EPS Including ExtraOrdinary Item	6.96	4.67	2.04	3.27	5.07
Dilution Adjustment	0.0	0.0	0.0	0.0	0.0
Diluted Net Income	1,095.0	769.0	336.0	538.0	834.0
Diluted Weighted Average Shares	159.3	165.9	165.5	165.4	165.9
Diluted EPS Excluding ExtraOrd Items	6.87	4.64	2.03	3.25	5.16
Diluted EPS Including ExtraOrd Items	6.87	4.64	2.03	3.25	5.03
DPS-Common Stock	2.26	2.18	2.13	2.09	2.04
Gross Dividends - Common Stock	355.0	360.0	353.0	343.0	335.0
Normalized Income Before Taxes	1,588.0	1,214.0	639.0	1,075.0	1,325.0
Inc Tax Ex Impact of Sp Items	382.8	389.0	197.8	329.0	385.9
Normalized Income After Taxes	1,205.2	825.0	441.2	746.0	939.1
Normalized Inc. Avail to Com.	1,088.2	714.0	351.2	660.0	863.1
Basic Normalized EPS	6.92	4.34	2.13	4.01	5.25
Diluted Normalized EPS	6.83	4.30	2.12	3.99	5.20
Advertising Costs	245.0	288.0	268.0	310.0	157.0
Research & Development Exp	430.0	394.0	388.0	451.0	348.0
Interest Expense	210.0	189.0	193.0	254.0	93.0
Interest Capitalized	-9.0	-7.0	-9.0	-8.0	-11.0
Depreciation	346.0	346.0	354.0	428.0	345.0
Amort of Intangibles	121.0	124.0	126.0	135.0	58.0
Rental Expense	249.0	233.0	241.0	267.0	188.0
U.S. Federal	193.0	62.0	3.0	140.0	294.0
Non U.S.	176.0	170.0	129.0	141.0	156.0
State & Local - U.S.	20.0	15.0	15.0	29.0	31.0
Current Tax - Total	389.0	247.0	147.0	310.0	481.0
U.S. Federal	11.0	70.0	53.0	54.0	-66.0
Non U.S.	-17.0	2.0	-13.0	-86.0	-25.0
State & Local - U.S.	2.0	11.0	4.0	6.0	-7.0
One-time charge, tax law change	0.0	85.0	-	-	-
Deferred Tax - Total	-4.0	168.0	44.0	-26.0	-98.0
Income Tax - Total	385.0	415.0	191.0	284.0	383.0
Service Cost - Pension	63.0	64.0	67.0	72.0	69.0
Interest Cost - Pension	254.0	249.0	244.0	258.0	214.0
Expected Return on Assets - Pension	-312.0	-278.0	-228.0	-283.0	-267.0
Amort. of Prior Service Cost - Pension	1.0	5.0	6.0	11.0	14.0
Amort. of Actuarial Gain/Loss - Pension	120.0	121.0	129.0	69.0	77.0
Curtailment & Special Termination - Pen.	5.0	0.0	0.0	39.0	12.0
Domestic Pension Plan Expense	131.0	161.0	218.0	166.0	119.0
Service Cost - Post-Retirement	19.0	19.0	20.0	21.0	24.0
Interest Cost - Post-Retirement	63.0	64.0	68.0	66.0	64.0
Amort. of Prior Service Cost - Post-Ret.	-12.0	-5.0	-13.0	-16.0	-12.0
Amort. of Actuarial Gain/Loss - Post-Ret	30.0	19.0	34.0	26.0	33.0
Curtailment & Spl. Termination - P-Ret.	0.0	0.0	0.0	-5.0	5.0
Post-Retirement Plan Expense	100.0	97.0	109.0	92.0	114.0
Multi-Employer Post retirement Plans	-	-	-	1.0	1.0
Multi-Employer Healthcare Expense	-	-	-	1.0	1.0
Defined Contribution Pension Plan	38.0	31.0	25.0	22.0	14.0
Total Pension Expense	269.0	289.0	352.0	282.0	249.0
Discount Rate - Pension	5.30%	5.70%	6.10%	6.20%	5.70%
Expected Rate of Return - Pension	7.60%	7.80%	7.90%	8.00%	8.30%
Compensation Rate - Pension	3.80%	3.90%	3.90%	4.10%	4.00%
Discount Rate - Post-Retirement	5.30%	5.70%	6.10%	6.20%	5.70%
Expected Rate of Return - Post-Ret.	7.60%	7.80%	7.90%	8.00%	8.30%
Compensation Rate - Post-Retirement	3.80%	3.80%	3.90%	4.10%	4.00%

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Reclassified Normal 31-Dec-2008
Filed Currency	USD	USD	USD	USD	USD
Exchange Rate	1	1	1	1	1
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash and cash equivalents	1,457.0	1,341.0	1,057.0	1,021.0	526.0
Cash held in escrow	-	-	-	-	1,706.0
Short term investments	25.0	637.0	7.0	-	-
A/R - Gross	2,583.0	2,538.0	2,405.0	2,640.0	2,573.0
Equity affiliates	28.0	24.0	28.0	22.0	-
Other	290.0	307.0	317.0	245.0	237.0
Doubtful Accts.	-71.0	-91.0	-122.0	-103.0	-51.0
Finished Products	935.0	912.0	918.0	1,045.0	937.0
Work in Process	144.0	136.0	125.0	134.0	131.0
Raw Materials	414.0	411.0	390.0	412.0	323.0
Supplies	114.0	114.0	115.0	111.0	141.0
Deferred Taxes	473.0	451.0	485.0	515.0	418.0
Other	302.0	278.0	256.0	306.0	-
Total Current Assets	6,694.0	7,058.0	5,981.0	6,348.0	6,941.0
Land & Improv.	482.0	477.0	478.0	453.0	418.0
Buildings	1,482.0	1,467.0	1,476.0	1,416.0	1,391.0
Machinery/Equip.	5,736.0	5,587.0	5,507.0	5,338.0	6,164.0
Other	694.0	652.0	689.0	604.0	553.0
Cnstrn.in Prog.	220.0	232.0	163.0	232.0	168.0
Depreciation	-5,893.0	-5,729.0	-5,559.0	-5,245.0	-6,116.0
Investments in equity affliates	261.0	416.0	365.0	381.0	190.0
Investments	126.0	134.0	134.0	128.0	180.0
Goodwill	2,660.0	2,719.0	2,784.0	2,641.0	1,507.0
Intang. Assets	1,604.0	1,640.0	1,659.0	1,570.0	806.0
Acquired Trademark, Net	316.0	323.0	334.0	339.0	144.0
Amortization	-795.0	-695.0	-577.0	-437.0	-336.0
Other Assets	795.0	694.0	806.0	930.0	619.0
Total Assets	14,382.0	14,975.0	14,240.0	14,698.0	12,629.0
Short Term Debt	108.0	28.0	272.0	903.0	1,819.0
Asbestos Settle	593.0	578.0	534.0	491.0	593.0
Trade creditors	1,612.0	1,626.0	1,384.0	1,402.0	1,182.0
Accured payroll	414.0	405.0	355.0	378.0	326.0
Customer rebates	201.0	218.0	207.0	208.0	-
Other postretirement and pension benefit	108.0	109.0	103.0	102.0	-
Income Taxes	51.0	56.0	33.0	62.0	49.0
Other	610.0	588.0	566.0	572.0	-
Accounts payable and accrued liabilities	-	-	-	-	663.0
Business restructuring	5.0	17.0	123.0	92.0	-
Total Current Liabilities	3,702.0	3,625.0	3,577.0	4,210.0	4,632.0
Long-term debt (See Note 9)	3,574.0	4,043.0	3,074.0	3,009.0	1,201.0
Total Long Term Debt	3,574.0	4,043.0	3,074.0	3,009.0	1,201.0
Asbestos Settle	241.0	243.0	238.0	244.0	324.0
Deferred Taxes	272.0	293.0	328.0	425.0	164.0
Accrued Pensions	968.0	819.0	944.0	1,250.0	396.0
Postretirement	1,307.0	1,151.0	1,010.0	1,072.0	997.0
Other liabilities	872.0	968.0	1,147.0	999.0	603.0
Minority Intrst.	197.0	195.0	169.0	156.0	161.0
Total Liabilities	11,133.0	11,337.0	10,487.0	11,365.0	8,478.0
Common Stock	484.0	484.0	484.0	484.0	484.0
Paid in Capital	783.0	725.0	609.0	580.0	553.0
Retained Erngs.	9,288.0	8,548.0	8,139.0	8,156.0	7,963.0
Treasury Stock	-5,506.0	-4,708.0	-4,218.0	-4,259.0	-4,267.0
Accumulated other comprehensive loss (Se	-1,800.0	-1,411.0	-1,261.0	-1,628.0	-582.0
Total Equity	3,249.0	3,638.0	3,753.0	3,333.0	4,151.0
Total Liabilities & Shareholders' Equity	14,382.0	14,975.0	14,240.0	14,698.0	12,629.0
S/O-Common Stock	151.9	160.4	165.7	164.2	163.8
Total Common Shares Outstanding	151.9	160.4	165.7	164.2	163.8
T/S-Common Stock	138.7	130.2	124.9	126.4	126.8
Accumulated Intangible Amortization	795.0	695.0	577.0	437.0	336.0
Full-Time Employees	38,400	38,300	39,900	44,900	34,900
Number of Common Shareholders	18,151	18,894	19,467	21,784	21,644
Long Term Debt Payable within 1 Year	75.0	2.0	4.0	119.0	1.0
Long Term Debt Payable within 2 Years	613.0	477.0	10.0	378.0	116.0
Long Term Debt Payable within 3 Years	2.0	1,088.0	477.0	1.0	0.0
Long Term Debt Payable within 4 Years	391.0	-	605.0	76.0	0.0
Long Term Debt Payable within 5 Years	421.0	402.0	2.0	601.0	71.0
Long Term Debt Payable-Remaining Maturit	2,125.0	2,521.0	1,956.0	1,951.0	-
Total Long Term Debt, Supplemental	3,627.0	4,490.0	3,054.0	3,126.0	188.0
Capital Lease Payable within 1 Year	2.0	2.0	2.0	2.0	1.0
Capital Lease Payable between 2-3 Years	4.0	4.0	3.0	1.0	0.0
Capital Lease Payable between 4-5 Years	4.0	4.0	3.0	1.0	0.0
Capital Lease - Remaining Maturites	22.0	24.0	24.0	2.0	0.0
Total Capital Leases	32.0	34.0	32.0	6.0	1.0
Operating Lease Payable within 1 Year	162.0	160.0	129.0	126.0	91.0
Operating Lease Payable within 2 Years	124.0	127.0	103.0	107.0	70.0
Operating Lease Payable within 3 Years	97.0	225.0	82.0	82.0	51.0
Operating Lease Payable within 4 Years	74.0	76.0	64.0	65.0	36.0
Operating Lease Payable within 5 Years	55.0	135.0	54.0	51.0	28.0
Operating Lease - Remaining Maturities	131.0	145.0	214.0	202.0	44.0
Total Operating Leases	643.0	868.0	646.0	633.0	320.0
Projected Benefit Obligation - Pension	5,333.0	4,952.0	4,545.0	4,096.0	3,744.0
FV of Plan Assets - Pension	4,382.0	4,127.0	3,594.0	2,837.0	3,403.0
Funded Status - Pension	-951.0	-825.0	-951.0	-1,259.0	-341.0
Projected Benefit Obligation - Post-Ret.	1,394.0	1,235.0	1,089.0	1,150.0	1,072.0
Funded Status - Post-Retirement	-1,394.0	-1,235.0	-1,089.0	-1,150.0	-1,072.0
Accumulated Benefit Obligation - Pension	5,117.0	4,695.0	4,245.0	3,773.0	3,509.0
Accumulated Benefit Obligation- Post Ret	1,394.0	1,235.0	1,089.0	1,150.0	1,072.0
Total Funded Status	-2,345.0	-2,060.0	-2,040.0	-2,409.0	-1,413.0
Discount Rate - Pension	5.30%	5.70%	5.70%	6.10%	6.20%
Compensation Rate - Pension	3.80%	3.90%	3.90%	3.90%	4.10%
Discount Rate - Post-Retirement	5.30%	5.70%	5.70%	6.10%	6.20%
Compensation Rate - Post-Retirement	3.80%	3.90%	3.90%	3.90%	4.10%
Other Long Term Assets - Pension	-	-	-	-	64.0
Accrued Benefit Liability - Pension	-961.0	-812.0	-937.0	-1,245.0	-391.0
Accounts Payable/Accrued Liab. - Pension	-13.0	-13.0	-14.0	-14.0	-14.0
Accounts Payable/Accrued Liab. - P.Ret.	-87.0	-84.0	-79.0	-78.0	-75.0
Liability - Defined Contribution Plan	-13.0	-18.0	-17.0	-15.0	-6.0
Accrued Benefit Liability - Post-Ret.	-1,307.0	-1,151.0	-1,010.0	-1,072.0	-997.0
Accts. Payable/Accrued Liab.- Dfrd. Comp	-95.0	-99.0	-96.0	-90.0	-119.0
Investments - Dfrd. Compensation Plan	59.0	63.0	60.0	51.0	84.0
Net Assets Recognized on Balance Sheet	-2,417.0	-2,114.0	-2,093.0	-2,463.0	-1,454.0
Equity Securities % - Pension	30.50%	38.00%	45.00%	46.00%	60.00%
Debt Securities % - Pension	61.20%	59.00%	53.00%	49.00%	36.00%
Real Estate % - Pension	8.30%	3.00%	2.00%	5.00%	4.00%

Annual Cash Flows

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009
Filed Currency	USD	USD	USD	USD	USD
Exchange Rate (Period Average)	1	1	1	1	1
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Income	1,212.0	880.0	426.0	624.0	910.0
Depreciation	467.0	470.0	480.0	563.0	403.0
Pension expense	131.0	-	-	-	-
Change in U.S. tax law (U.S. Patient Pro	0.0	85.0	0.0	0.0	-
Equity affiliate (earnings) loss net of	-18.0	-39.0	17.0	15.0	-11.0
Asbestos Settlement	7.0	7.0	8.0	2.0	15.0
Business restructuring	0.0	0.0	186.0	163.0	0.0
Cash contributions to pension plans	-121.0	-	-	-	-
Restructuring	-18.0	-103.0	-142.0	-27.0	-15.0
Loss from discontinued operations, net o	-	-	0.0	0.0	22.0
Writeoff of in process research and deve	-	0.0	0.0	23.0	0.0
Bad Debt Expense	-	-	59.0	52.0	16.0
(Increase)/decrease in receivables	-129.0	-178.0	235.0	-4.0	-224.0
Inventories	-73.0	-34.0	232.0	79.0	-49.0
Current Assets	-32.0	39.0	62.0	-123.0	-24.0
(Decrease) increase in net accrued pensi	22.0	-202.0	-22.0	78.0	-7.0
Decrease in noncurrent assets	-3.0	103.0	12.0	21.0	-100.0
(Decrease) increase in accounts payable	-	333.0	-152.0	15.0	72.0
Noncurrent Liabs.	-12.0	-1.0	-61.0	-132.0	3.0
Change in accrued tax and interest accou	39.0	-	-	-	-
Cash from (used for) operating activitie	-	-	0.0	0.0	1.0
Other	-36.0	-50.0	5.0	88.0	51.0
Cash from Operating Activities	1,436.0	1,310.0	1,345.0	1,437.0	1,063.0
Capital Expenditures	-390.0	-307.0	-239.0	-383.0	-364.0
Business Acquisition	-56.0	-34.0	-26.0	-1,673.0	-233.0
Disc. Operation	-16.0	-7.0	0.0	0.0	38.0
Proceeds from termination of currency sw	0.0	5.0	0.0	208.0	0.0
Sale of Short Term Investments	749.0	-	-	-	-
Purchase of short term investments	-125.0	-624.0	0.0	0.0	-
Payments on cross currency swap contract	-10.0	-9.0	-3.0	0.0	0.0
Collection of notes receivable, equity a	90.0	-	-	-	-
Return of capital, equity affiliate	78.0	-	-	-	-
Sale of Automotive Glass and Services bu	-	0.0	0.0	225.0	0.0
Release of Escrow	0.0	1.0	22.0	1,740.0	2.0
Reduct.Ppty./Invest.	33.0	26.0	43.0	45.0	68.0
Deposits Held in Escrow	-	-	0.0	-37.0	-1,718.0
Cash from Investing Activities	353.0	-949.0	-203.0	125.0	-2,207.0
Proceeds from issuance of notes (net of	0.0	983.0	0.0	1,538.0	0.0
Borrowings-ST Mat.	9.0	-23.0	-431.0	-392.0	698.0
Proceeds from term loan (See Note 9)	0.0	0.0	400.0	0.0	0.0
Repayment of bridge loan (See Note 9)	-400.0	0.0	0.0	-1,557.0	0.0
Proceeds ST Debt	4.0	8.0	1.0	329.0	1,129.0
ST Debt Repayment	0.0	-225.0	-517.0	-442.0	-83.0
Repayment of 7.05% Notes due 2009 (See N	0.0	0.0	-116.0	0.0	0.0
Proceeds from other long-term debt	3.0	7.0	29.0	0.0	0.0
Repayment of acquired SigmaKalon debt (S	-	0.0	0.0	-1,259.0	0.0
Borrowings to refinance acquired SigmaKa	-	0.0	0.0	1,143.0	0.0
Proceeds from termination of interest ra	19.0	0.0	0.0	40.0	0.0
Repymt. LT Debt/Lses	-7.0	-14.0	-12.0	-41.0	-71.0
Repay./ESOP Loan	-	-	0.0	0.0	25.0
Purchase of treasury stock	-858.0	-586.0	-59.0	-7.0	-274.0
Dividends paid on subsidiary common stoc	-106.0	-87.0	-77.0	-79.0	-67.0
Issuance of treasury stock	81.0	146.0	12.0	13.0	194.0
Other	-22.0	47.0	0.0	0.0	-
Dividends Paid	-355.0	-360.0	-353.0	-343.0	-335.0
Cash from Financing Activities	-1,632.0	-104.0	-1,123.0	-1,057.0	1,216.0
Foreign Exchange Effects	-41.0	27.0	17.0	-10.0	11.0
Net Change in Cash	116.0	284.0	36.0	495.0	83.0
Net Cash - Beginning Balance	1,341.0	1,057.0	1,021.0	526.0	443.0
Net Cash - Ending Balance	1,457.0	1,341.0	1,057.0	1,021.0	526.0
Cash Interest Paid	212.0	189.0	201.0	228.0	102.0
Cash Taxes Paid	353.0	198.0	197.0	300.0	475.0

Financial Health

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Key Indicators USD (mil)
Â	Quarter Ending 30-Jun-2012	Quarter Ending Yr Ago	Annual Year End 31-Dec-2011	1 Year Growth	3 Year Growth	5 Year Growth
Total Revenue (?)	3,955.0	-0.78%	14,885.0	10.89%	-2.07%	6.36%
Research & Development (?)	113.0	2.73%	430.0	9.14%	-1.58%	6.49%
Operating Income (?)	527.0	5.40%	1,597.0	23.32%	20.71%	8.69%
Income Available to Common Excl Extraord Items (?)	362.0	6.47%	1,095.0	42.39%	26.73%	9.14%
Basic EPS Excl Extraord Items (?)	2.36	9.94%	6.96	48.91%	28.66%	10.28%
Capital Expenditures (?)	146.0	8.96%	390.0	27.04%	0.61%	1.11%
Cash from Operating Activities (?)	434.0	72.22%	1,436.0	9.62%	-0.02%	5.19%
Free Cash Flow (?)	288.0	144.07%	1,046.0	4.29%	-0.25%	6.99%
Total Assets (?)	14,817.0	-2.95%	14,382.0	-3.96%	-0.72%	7.39%
Total Liabilities (?)	11,356.0	1.28%	11,133.0	-1.80%	-0.69%	10.40%
Total Long Term Debt (?)	2,964.0	-17.96%	3,574.0	-11.60%	5.90%	25.35%
Employees (?)	-	-	38400	0.26%	-5.08%	3.58%
Total Common Shares Outstanding (?)	152.7	-3.07%	151.9	-5.30%	-2.56%	-1.53%
Market Cap (?)	16,203.3	13.30%	12,681.2	-5.95%	22.10%	3.78%

Key Ratios
Â	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Profitability
Gross Margin (?)	38.99%	38.81%	38.40%	35.93%	35.94%
Operating Margin (?)	10.73%	9.65%	5.04%	5.73%	10.76%
Pretax Margin (?)	10.73%	9.65%	5.04%	5.73%	10.76%
Net Profit Margin (?)	7.36%	5.73%	2.75%	3.39%	7.00%
Financial Strength
Current Ratio (?)	1.81	1.95	1.67	1.51	1.50
Long Term Debt/Equity (?)	1.10	1.11	0.82	0.90	0.29
Total Debt/Equity (?)	1.13	1.12	0.89	1.17	0.73
Management Effectiveness
Return on Assets (?)	8.26%	6.02%	2.94%	4.57%	8.21%
Return on Equity (?)	31.80%	20.81%	9.48%	14.38%	23.04%
Efficiency
Receivables Turnover (?)	5.31	4.97	4.51	5.70	5.12
Inventory Turnover (?)	5.71	5.26	4.64	6.28	5.72
Asset Turnover (?)	1.01	0.92	0.85	1.16	1.08

Market Valuation USD (mil)
P/E (TTM) (?)	19.54	.	Enterprise Value (?)	19,853.1
Price/Sales (TTM) (?)	1.15	.	Enterprise Value/Revenue (TTM) (?)	1.32
Price/Book (MRQ) (?)	4.99	.	Enterprise Value/EBITDA (TTM) (?)	10.29
Market Cap as of 07-Sep-2012 (?)	17,275.1	.

PPG Industries, Inc. Pittsburgh, Pennsylvania, United States, Tel: 412-434-3131, URL: http://www.ppg.com

Ratio Comparisons

Traded: New York Stock Exchange: PPG	Financials in: USD (actual units)
Industry: Chemical Manufacturing	As of 07-Sep-2012
Sector: Basic Materials

	Company	Industry	Sector	S&P 500
Valuation Ratios
P/E Excluding Extraordinary (TTM) (?)	19.54	23.47	24.91	19.68
P/E High Excluding Extraordinary - Last 5 Yrs (?)	28.83	29.37	40.00	32.79
P/E Low Excluding Extraordinary - Last 5 Yrs (?)	12.15	11.37	8.69	10.71
Beta (?)	1.31	1.21	1.47	1.00
Price/Revenue (TTM) (?)	1.15	2.41	2.38	2.57
Price/Book (MRQ) (?)	4.99	4.13	3.90	3.67
Price to Tangible Book (MRQ) (?)	-	7.79	5.81	5.21
Price to Cash Flow Per Share (TTM) (?)	11.59	14.85	13.98	14.22
Price to Free Cash Flow Per Share (TTM) (?)	20.04	40.81	37.21	26.26
Dividends
Dividend Yield (?)	2.09%	1.82%	1.75%	2.26%
Dividend Per Share - 5 Yr Avg (?)	2.14	2.13	2.50	1.99
Dividend 5 Yr Growth (?)	3.42%	10.42%	1.06%	0.08%
Payout Ratio (TTM) (?)	39.25%	31.59%	29.68%	25.98%
Growth Rates (%)
Revenue (MRQ) vs Qtr 1 Yr Ago (?)	-0.78%	20.41%	20.15%	15.58%
Revenue (TTM) vs TTM 1 Yr Ago (?)	4.98%	15.77%	23.47%	17.69%
Revenue 5 Yr Growth (?)	6.36%	6.26%	7.38%	8.97%
EPS (MRQ) vs Qtr 1 Yr Ago (?)	10.11%	2.09%	13.63%	19.49%
EPS (TTM) vs TTM 1 Yr Ago (?)	-8.85%	12.44%	42.74%	32.55%
EPS 5 Yr Growth (?)	10.11%	19.42%	8.05%	9.86%
Capital Spending 5 Yr Growth (?)	1.11%	11.74%	9.93%	-2.04%
Financial Strength
Quick Ratio (MRQ) (?)	1.18	1.35	1.78	1.24
Current Ratio (MRQ) (?)	1.57	2.18	2.73	1.79
LT Debt/Equity (MRQ) (?)	0.86	0.76	0.81	0.64
Total Debt/Equity (MRQ) (?)	1.04	0.82	0.88	0.73
Interest Coverage (TTM) (?)	10.32	13.67	11.21	13.80
Profitability Ratios (%)
Gross Margin (TTM) (?)	39.51%	33.98%	32.32%	45.21%
Gross Margin - 5 Yr Avg (?)	37.60%	32.62%	31.54%	44.91%
EBITD Margin (TTM) (?)	12.80%	19.75%	22.23%	24.43%
EBITD Margin - 5 Yr Avg (?)	12.81%	17.18%	18.43%	22.84%
Operating Margin (TTM) (?)	8.78%	14.67%	16.99%	20.63%
Operating Margin - 5 Yr Avg (?)	8.35%	13.24%	13.64%	18.28%
Pretax Margin (TTM) (?)	8.78%	14.52%	15.86%	17.95%
Pretax Margin - 5 Yr Avg (?)	8.35%	12.15%	12.57%	17.10%
Net Profit Margin (TTM) (?)	6.82%	10.56%	11.55%	13.65%
Net Profit Margin - 5 Yr Avg (?)	5.94%	8.73%	8.64%	12.10%
Effective Tax Rate (TTM) (?)	22.36%	27.39%	28.04%	28.45%
Effective Tax rate - 5 Yr Avg (?)	28.93%	27.15%	29.65%	29.92%
Management Effectiveness (%)
Return on Assets (TTM) (?)	6.83%	8.26%	8.05%	8.54%
Return on Assets - 5 Yr Avg (?)	5.92%	7.52%	7.49%	8.40%
Return on Investment (TTM) (?)	9.72%	6.33%	5.86%	7.90%
Return on Investment - 5 Yr Avg (?)	8.38%	5.79%	5.78%	8.27%
Return on Equity (TTM) (?)	24.01%	22.07%	18.78%	19.72%
Return on Equity - 5 Yr Avg (?)	19.81%	19.44%	17.45%	20.06%
Efficiency
Revenue/Employee (TTM) (?)	392,526.00	665,165.50	613,510.56	927,613.77
Net Income/Employee (TTM) (?)	26,770.83	84,229.57	82,492.56	116,121.92
Receivables Turnover (TTM) (?)	4.53	7.02	8.71	13.25
Inventory Turnover (TTM) (?)	5.07	8.06	8.16	14.53
Asset Turnover (TTM) (?)	1.00	0.80	0.82	0.93

Annual Ratios

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Financial Strength
Current Ratio (?)	1.81	1.95	1.67	1.51	1.50
Quick/Acid Test Ratio (?)	1.16	1.31	1.03	0.91	0.71
Working Capital (?)	2,992.0	3,433.0	2,404.0	2,138.0	2,309.0
Long Term Debt/Equity (?)	1.10	1.11	0.82	0.90	0.29
Total Debt/Equity (?)	1.13	1.12	0.89	1.17	0.73
Long Term Debt/Total Capital (?)	0.52	0.52	0.43	0.42	0.17
Total Debt/Total Capital (?)	0.53	0.53	0.47	0.54	0.42
Payout Ratio (?)	32.47%	46.63%	104.47%	63.94%	39.20%
Effective Tax Rate (?)	24.11%	32.05%	30.96%	31.28%	29.13%
Total Capital (?)	6,931.0	7,709.0	7,099.0	7,245.0	7,171.0
Efficiency
Asset Turnover (?)	1.01	0.92	0.85	1.16	1.08
Inventory Turnover (?)	5.71	5.26	4.64	6.28	5.72
Days In Inventory (?)	63.91	69.34	78.67	58.12	63.76
Receivables Turnover (?)	5.31	4.97	4.51	5.70	5.12
Days Receivables Outstanding (?)	68.76	73.50	81.00	64.06	71.31
Revenue/Employee (?)	387,630	350,470	306,742	352,984	350,143
Operating Income/Employee (?)	41,589	33,812	15,464	20,223	37,679
EBITDA/Employee (?)	53,750	46,084	27,494	32,762	49,226
Profitability
Gross Margin (?)	38.99%	38.81%	38.40%	35.93%	35.94%
Operating Margin (?)	10.73%	9.65%	5.04%	5.73%	10.76%
EBITDA Margin (?)	13.87%	13.15%	8.96%	9.28%	14.06%
EBIT Margin (?)	10.73%	9.65%	5.04%	5.73%	10.76%
Pretax Margin (?)	10.73%	9.65%	5.04%	5.73%	10.76%
Net Profit Margin (?)	7.36%	5.73%	2.75%	3.39%	7.00%
R&D Expense/Revenue (?)	2.89%	2.94%	3.17%	2.85%	2.85%
COGS/Revenue (?)	61.01%	61.19%	61.60%	64.07%	64.06%
SG&A Expense/Revenue (?)	21.73%	22.19%	23.99%	21.65%	18.90%
Management Effectiveness
Return on Assets (?)	8.26%	6.02%	2.94%	4.57%	8.21%
Return on Equity (?)	31.80%	20.81%	9.48%	14.38%	23.04%
Valuation
Free Cash Flow/Share (?)	6.89	6.25	6.68	6.42	4.27
Operating Cash Flow/Share  (?)	9.45	8.17	8.12	8.75	6.49

Current Market Multiples
Market Cap/Earnings (TTM) (?)	19.54
Market Cap/Equity (MRQ) (?)	4.99
Market Cap/Revenue (TTM) (?)	1.15
Market Cap/EBIT (TTM) (?)	11.78
Market Cap/EBITDA (TTM) (?)	8.96
Enterprise Value/Earnings (TTM) (?)	22.46
Enterprise Value/Equity (MRQ) (?)	5.74
Enterprise Value/Revenue (TTM) (?)	1.32
Enterprise Value/EBIT (TTM) (?)	13.54
Enterprise Value/EBITDA (TTM) (?)	10.29

Stock Report

Stock Snapshot

Traded: New York Stock Exchange: PPG

As of 7-Sep-2012    US Dollars

Recent Price	$113.14	EPS	$6.83
52 Week High	$114.62	Price/Sales	1.16
52 Week Low	$66.43	Dividend Rate	$2.36
Avg. Volume (mil)	1.00	Price/Earnings	18.18
Market Value (mil)	$17,275.13	Price/Book	5.29
		Beta	1.31

	Price % Change	Rel S&P 500%
4 Week	2.09%	-0.19%
13 Week	9.12%	0.60%
52 Week	51.18%	24.68%
Year to Date	35.51%	18.51%

2 Year Weekly End Price & Volume

Stock History

Market Cap History
	30-Jun-12	% Chg	31-Mar-12	% Chg	31-Dec-11	% Chg	30-Sep-11	% Chg	30-Jun-11	% Chg
Total Common Shares Outstanding	153	0.3	152	0.3	152	-1.6	154	-2.0	158	-0.4
Market Cap	16,203.3	11.1	14,589.0	15.0	12,681.2	16.2	10,911.5	-23.7	14,301.1	-5.0

Yearly Price History
	2012	% Chg	2011	% Chg	2010	% Chg	2009	% Chg	2008	% Chg
High Price	114.62	17.2	97.81	15.6	84.59	35.8	62.31	-12.2	71.00	-13.9
Low Price	83.27	25.3	66.43	16.6	56.96	102.3	28.16	-21.6	35.94	-43.9
Year End Price	113.14	35.5	83.49	-0.7	84.07	43.6	58.54	38.0	42.43	-39.6

Monthly Price History
Price Ending Date	Open	High	Low	Close	Volume
07-Sep-12	109.70	113.70	107.43	113.14	4,160,032
31-Aug-12	109.93	111.87	105.87	110.02	18,594,101
31-Jul-12	106.31	114.62	99.12	109.46	26,502,511
29-Jun-12	100.38	106.89	96.74	106.12	21,194,894
31-May-12	105.07	107.95	97.09	103.44	27,249,933
30-Apr-12	95.64	106.40	91.85	105.24	39,373,702
30-Mar-12	91.49	96.40	90.04	95.80	19,985,795
29-Feb-12	90.72	93.67	89.35	91.25	16,893,687
31-Jan-12	85.30	90.89	83.27	89.58	17,917,215
30-Dec-11	87.19	87.78	78.80	83.49	24,611,680
30-Nov-11	83.08	89.59	79.07	87.75	22,812,547
31-Oct-11	70.00	90.00	66.43	86.41	29,414,212
30-Sep-11	76.70	79.13	68.27	70.66	39,417,683

Bottom of Form

Standard & Poor’s

United States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks, Rising Debt Burden; Outlook Negative

Publication date: 05-Aug-2011 20:13:14 EST

---

· We have lowered our long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA' and affirmed the 'A-1+' short-term rating.

· We have also removed both the short- and long-term ratings from CreditWatch negative.

· The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics.

· More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.

· Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon.

· The outlook on the long-term rating is negative. We could lower the long-term rating to 'AA' within the next two years if we see that less reduction in spending than agreed to, higher interest rates, or new fiscal pressures during the period result in a higher general government debt trajectory than we currently assume in our base case.

TORONTO (Standard & Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services said today that it lowered its long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA'. Standard & Poor's also said that the outlook on the long-term rating is negative. At the same time, Standard & Poor's affirmed its 'A-1+' short-term rating on the U.S. In addition, Standard & Poor's removed both ratings from CreditWatch, where they were placed on July 14, 2011, with negative implications.

The transfer and convertibility (T&C) assessment of the U.S.--our assessment of the likelihood of official interference in the ability of U.S.-based public- and private-sector issuers to secure foreign exchange for

debt service--remains 'AAA'.

We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process. We also believe that the fiscal consolidation plan that Congress and the Administration agreed to this week falls short of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade.

Our lowering of the rating was prompted by our view on the rising public debt burden and our perception of greater policymaking uncertainty, consistent with our criteria (see "Sovereign Government Rating Methodology and Assumptions ," June 30, 2011, especially Paragraphs 36-41). Nevertheless, we view the U.S. federal government's other economic, external, and monetary credit attributes, which form the basis for the sovereign rating, as broadly unchanged.

We have taken the ratings off CreditWatch because the Aug. 2 passage of the Budget Control Act Amendment of 2011 has removed any perceived immediate threat of payment default posed by delays to raising the government's debt ceiling. In addition, we believe that the act provides sufficient clarity to allow us to evaluate the likely course of U.S. fiscal policy for the next few years.

The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year's wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently. Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements,

the containment of which we and most other independent observers regard as key to long-term fiscal sustainability.

Our opinion is that elected officials remain wary of tackling the structural issues required to effectively address the rising U.S. public debt burden in a manner consistent with a 'AAA' rating and with 'AAA' rated sovereign peers (see Sovereign Government Rating Methodology and Assumptions," June 30, 2011, especially Paragraphs 36-41). In our view, the difficulty in framing a consensus on fiscal policy weakens the government's ability to manage public finances and diverts attention from the debate over how to achieve more balanced and dynamic economic growth in an era of fiscal stringency and private-sector deleveraging (ibid). A new political consensus might (or might not) emerge after the 2012 elections, but we believe that by then, the government debt burden will likely be higher, the needed medium-term fiscal adjustment potentially greater, and the inflection point on the U.S. population's demographics and other age-related spending drivers closer at hand (see "Global Aging 2011: In The U.S., Going Gray Will Likely Cost Even More Green, Now," June 21, 2011).

Standard & Poor's takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.'s finances on a sustainable footing.

The act calls for as much as $2.4 trillion of reductions in expenditure growth over the 10 years through 2021. These cuts will be implemented in two steps: the $917 billion agreed to initially, followed by an additional $1.5 trillion that the newly formed Congressional Joint Select Committee on Deficit Reduction is supposed to recommend by November 2011. The act contains no measures to raise taxes or otherwise enhance revenues, though the committee could recommend them.

The act further provides that if Congress does not enact the committee's recommendations, cuts of $1.2 trillion will be implemented over the same time period. The reductions would mainly affect outlays for civilian discretionary spending, defense, and Medicare. We understand that this fall-back mechanism is designed to encourage Congress to embrace a more balanced mix of expenditure savings, as the committee might recommend.

We note that in a letter to Congress on Aug. 1, 2011, the Congressional Budget Office (CBO) estimated total budgetary savings under the act to be at least $2.1 trillion over the next 10 years relative to its baseline assumptions. In updating our own fiscal projections, with certain modifications outlined below, we have relied on the CBO's latest "Alternate Fiscal Scenario" of June 2011, updated to include the CBO assumptions contained in its Aug. 1 letter to Congress. In general, the CBO's "Alternate Fiscal Scenario" assumes a continuation of recent Congressional action overriding existing law.

We view the act's measures as a step toward fiscal consolidation. However, this is within the framework of a legislative mechanism that leaves open the details of what is finally agreed to until the end of 2011, and Congress and the Administration could modify any agreement in the future. Even assuming that at least $2.1 trillion of the spending reductions the act envisages are implemented, we maintain our view that the U.S. net general government debt burden (all levels of government combined, excluding liquid financial assets) will likely continue to grow. Under our revised base case fiscal scenario--which we consider to be consistent with a 'AA+' long-term rating and a negative outlook--we now project that net general government debt would rise from an estimated 74% of GDP by the end of 2011 to 79% in 2015 and 85% by 2021. Even the projected 2015 ratio of sovereign indebtedness is high in relation to those of peer credits and, as noted, would continue to rise under the act's revised policy settings.

Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade.

Our revised upside scenario--which, other things being equal, we view as consistent with the outlook on the 'AA+' long-term rating being revised to stable--retains these same macroeconomic assumptions. In addition, it incorporates $950 billion of new revenues on the assumption that the 2001 and 2003 tax cuts for high earners lapse from 2013 onwards, as the Administration is advocating. In this scenario, we project that the net general government debt would rise from an estimated 74% of GDP by the end of 2011 to 77% in 2015 and to 78% by 2021.

Our revised downside scenario--which, other things being equal, we view as being consistent with a possible further downgrade to a 'AA' long-term rating--features less-favorable macroeconomic assumptions, as outlined below and also assumes that the second round of spending cuts (at least $1.2 trillion) that the act calls for does not occur. This scenario also assumes somewhat higher nominal interest rates for U.S. Treasuries. We still believe that the role of the U.S. dollar as the key reserve currency confers a government funding advantage, one that could change only slowly over time, and that Fed policy might lean toward continued loose monetary policy at a time of fiscal tightening. Nonetheless, it is possible that interest rates could rise if investors re-price relative risks. As a result, our alternate scenario factors in a 50 basis point (bp)-75 bp rise in 10-year bond yields relative to the base and upside cases from 2013 onwards. In this scenario, we project the net public debt burden would rise from 74% of GDP in 2011 to 90% in 2015 and to 101% by 2021.

Our revised scenarios also take into account the significant negative revisions to historical GDP data that the Bureau of Economic Analysis announced on July 29. From our perspective, the effect of these revisions underscores two related points when evaluating the likely debt trajectory of the U.S. government. First, the revisions show that the recent recession was deeper than previously assumed, so the GDP this year is lower than previously thought in both nominal and real terms. Consequently, the debt burden is slightly higher. Second, the revised data highlight the sub-par path of the current economic recovery when compared with rebounds following previous post-war recessions. We believe the sluggish pace of the current economic recovery could be consistent with the experiences of countries that have had financial crises in which the slow process of debt deleveraging in the private sector leads to a persistent drag on demand. As a result, our downside case scenario assumes relatively modest real trend GDP growth of 2.5% and inflation of near 1.5% annually going forward.

When comparing the U.S. to sovereigns with 'AAA' long-term ratings that we view as relevant peers--Canada, France, Germany, and the U.K.--we also observe, based on our base case scenarios for each, that the trajectory of the U.S.'s net public debt is diverging from the others. Including the U.S., we estimate that these five sovereigns will have net general government debt to GDP ratios this year ranging from 34% (Canada) to 80% (the U.K.), with the U.S. debt burden at 74%. By 2015, we project that their net public debt to GDP ratios will range between 30% (lowest, Canada) and 83% (highest, France), with the U.S. debt burden at 79%. However, in contrast with the U.S., we project that the net public debt burdens of these other sovereigns will begin to decline, either before or by 2015.

Standard & Poor's transfer T&C assessment of the U.S. remains 'AAA'. Our T&C assessment reflects our view of the likelihood of the sovereign restricting other public and private issuers' access to foreign exchange needed to meet debt service. Although in our view the credit standing of the U.S. government has deteriorated modestly, we see little indication that official interference of this kind is entering onto the policy agenda of either Congress or the Administration. Consequently, we continue to view this risk as being highly remote.

The outlook on the long-term rating is negative. As our downside alternate fiscal scenario illustrates, a higher public debt trajectory than we currently assume could lead us to lower the long-term rating again. On the other hand, as our upside scenario highlights, if the recommendations of the Congressional Joint Select Committee on Deficit Reduction--independently or coupled with other initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high earners--lead to fiscal consolidation measures beyond the minimum mandated, and we believe they are likely to slow the deterioration of the government's debt dynamics, the long-term rating could stabilize at 'AA+'.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.90
UK Pound	1	Rs.87.60
Euro	1	Rs.70.01

INFORMATION DETAILS

Report Prepared by :

PRL

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.