Chemical Co. PPG Hid Info On Auto Glass Unit, Buyer Says

Law360, New York (October 25, 2011, 4:56 PM EDT) -- Coatings and chemicals manufacturer PPG Industries Inc. didn't disclose everything it should have when it sold its automotive glass division to Platinum Equity LLC for $500 million in 2007, the private equity firm's attorneys told a New York judge Tuesday.

PPG was obligated by a clause in the purchase agreement with Platinum to disclose the ramifications of the fact that one of the division's biggest customers, Belron SA, was merging with a competitor, Safelite Group Inc., and would likely drastically cut its orders, according to Dennis...
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