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Apogee, PPG Receive Government Approval to Finalize Auto Replacement Glass Venture

30 June 2000

Apogee, PPG Receive Government Approval to Finalize Auto Replacement Glass Venture

    MINNEAPOLIS - On June 26, Apogee Enterprises, Inc. of Minneapolis and PPG 
Industries of Pittsburgh were notified by the Federal Trade Commission that they 
had received early termination of the waiting period for their filings under the
Hart-Scott-Rodino Antitrust Improvements Act regarding the proposed formation
of PPG Auto Glass L.L.C., a joint venture combining the U.S. automotive
replacement glass distribution businesses of each company.  This was the last
significant condition to closing the venture, which was announced June 13.
The parties are focused on planning a smooth transition of their respective
automotive glass distribution businesses to PPG Auto Glass, which is expected
to begin operations this summer.  When the venture is finalized, Apogee
intends to communicate its financial implications for the company.

    PPG will hold a 66 percent interest and Apogee a 34 percent interest in
the new company, which is expected to employ more than 1,200 people from PPG's
and Apogee's existing auto replacement glass distribution units.

    The companies cited opportunities to increase geographic coverage, and
improve efficiencies and customer service in their auto replacement glass
distribution operations in announcing plans to form the joint venture.  Apogee
operates about 75 wholesale distribution branches and PPG operates more than
110.

    The new venture will not include PPG's auto replacement glass production
and truckload sales business, or Apogee's manufacturing and retail
installation operations.  Apogee's Harmon AutoGlass division, the company's
retail unit, owns about 325 installation shops.  PPG has no U.S. retail shops,
nor will PPG Auto Glass.

    PPG is North America's largest producer of flat and fabricated glass, and
its leading producer of automotive replacement glass.  The company is also a
major global producer of automotive, industrial and packaging coatings;
continuous-strand fiber glass reinforcements and yarns, and industrial and
specialty chemicals, as well as a leading North American producer of
decorative and maintenance paints.  PPG's 1999 sales were $7.8 billion.

    Apogee is a world leader in technologies involving the design and
development of value-added glass products, services and systems.  The company
is organized into two business segments; the Glass Technologies businesses are
leaders primarily in architectural glass and high-end glass coatings for
electronics, while the Glass Services businesses are leaders in replacement
auto glass and building glass services.  Apogee's annual sales are nearly
$1 billion.