akgo01,This now has the business a lot more focussed. They still...

akgo01,

This now has the business a lot more focussed. They still have the industrials business to fix.

I don't agree with Tim's message that they now have funds to strategically grow the business. No one in their right minds would look to acquire anything when your back yard is a mess. I suspect that the banks know this and will make sure PPG hit it's covenants.

I refrain from projecting anything until I see if they have made any significant inroads in the flexibles business. If profits have turned a corner (and not a little I mean materially) then I suspect the SP will charge upwards.

If however the Flexibles have not made material improvement in profitability then I fear that the Banking covenants may come into play and possibly a further slide of the SP.

The sale of the Rigid business may create a lot of noise in this next reporting period but I will focus on the core flexibles business results.

Hope that helps in some way.