Frank’s deep experience in the automotive glass business will serve us well as we continue to explore strategic alternatives for this business,” said Charles E.Bunch, PPG chairman and chief executive officer.
Archinaco was appointed vice president, automotive original equipment manufacture (OEM) glass, in 1986; assumed responsibility for PPG’s total glass business in 1994; and was elected executive vice president in 1997. He retired from PPG as executive vice president for glass and chemicals in 2002.
Last week, PPG announced it had been notified that affiliates of Platinum Equity, Beverly Hills, Calif., intended to terminate, after Dec. 31, 2007, their contract under which they agreed to purchase PPG’s automotive OEM glass and automotive replacement glass (ARG) and services businesses. PPG stated that, in the event the transaction does not close with the Platinum group, it would continue to explore divestiture, restructuring and other strategic alternatives for the automotive OEM and ARG and services businesses with the goal of maximizing shareholder value.