P. M. BRIEFING : PPG Sells Share of German Firm
<i> From Times Wire Services</i>
PITTSBURGH —
PPG Industries has sold its 75% interest in West German equipment maker Lenhardt Maschinenbau GmbH, the company said today.
The buyer is Bystronic Maschinen AG of Butzberg, Switzerland. The purchase price was not given. General Manager Karl Lenhardt holds the remaining shares in the company.
Lenhardt, based in Neuhausen-Hamberg, makes equipment used to produce insulating glass units and other fabricated glass products. Bystronic produces equipment for the glass, metals, plastics and agriculture industries.
PPG said it sold its interest because the fabricating equipment business no longer is appropriate to its long-term strategic objectives. PPG is one of the world’s leading producers of flat and fabricated glass.
