PPG (NYSE:PPG) yesterday reported fourth quarter 2016 net sales of $3.5 billion, down more than 1 percent versus the prior year. Sales in local currencies increased by more than 1 percent aided by sales volume growth approaching 2 percent year-over-year. The net impact from business portfolio actions contributed less than 1 percent to sales growth as acquisition-related sales increases modestly exceeded the absence of sales from the divested European fiber glass business. These aggregate net sales gains were more than offset by unfavorable foreign currency translation which reduced net sales by about 3 percent, or approximately $100 million.
Fourth quarter
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