Monday, 15 December 2008 10:39

PPG Chair Calls for Action in Auto Bailout

PPG Industries chairperson and chief executive officer Charles Bunch sent a letter to all of the U.S. senators urging them to take action in assisting the Big Three auto manufacturers. In the letter, sent officially from the National Association of Manufacturers, of which Bunch is chairperson, he writes, "Like many other domestic manufacturers in the auto industry supply chain, PPG Industries would face severe economic consequences if this matter is not addressed immediately."

He notes that in 2008 the auto industry provided PPG more than $500 million in sales and more than 1,260 manufacturing and research and development jobs to PPG employees.

"Allowing the auto industry to collapse would put these and the more than 600,000 other jobs in the auto parts supply chain in jeopardy," Bunch writes.

Bunch calls the auto industry relief a "critical component in [the] overall effort to restore confidence to consumers and investors, and stabilize the economy."
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