PPG Executives and Directors Participated in Split-off Exchange Offer for
Commodity Chemicals Business
PITTSBURGH -- February 1, 2013
PPG Industries (NYSE:PPG) today announced that certain company executives and
directors participated in the previously announced exchange offer related to
the separation of its commodity chemicals business. The exchange offer was in
connection with the separation of Eagle Spinco Inc., a wholly-owned subsidiary
of PPG that owned substantially all of the assets and liabilities of PPG’s
commodity chemicals business, and the subsequent merger of Eagle Spinco Inc.
with a subsidiary of Georgia Gulf Corporation. The combined company formed by
the merger is named Axiall Corporation and is traded on the New York Stock
Exchange under the ticker symbol AXLL.
All PPG shareholders had the option to exchange any percentage of their shares
of PPG common stock for shares of Eagle Spinco common stock. Shares of Eagle
Spinco common stock automatically converted into shares of Axiall Corporation
common stock. PPG executives and directors participated in the exchange offer
as PPG shareholders and according to the same terms as all other PPG
The exchange offer expired and the merger closed on Jan. 28, 2013.
PPG: BRINGING INNOVATION TO THE SURFACE.(TM)
PPG Industries' vision is to continue to be the world’s leading coatings and
specialty products company. Through leadership in innovation, sustainability
and color, PPG helps customers in industrial, transportation, consumer
products, and construction markets and aftermarkets to enhance more surfaces
in more ways than does any other company. Founded in 1883, PPG has global
headquarters in Pittsburgh and operates in nearly 70 countries around the
world. Sales in 2012 were $15.2 billion. PPG shares are traded on the New York
Stock Exchange (symbol: PPG). For more information, visit www.ppg.com.
Bringing innovation to the surface is a trademark of PPG Industries Ohio, Inc.
PPG Industries, Inc.
Jeremy Neuhart, PPG Corporate Communications, 412-434-3046
Vince Morales, PPG Investor Relations, 412-434-3740
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