Very hard to say. What is clear is that the Rigid division has been a strong and reasonably consistent performer where as the other two divisions are struggling.
The rigid business was put up for sale a few years back and didn't sell. This appears to have come out of the blue so I think it was a gift horse that wasn't expected. The result will mean that the debt will drop from circa $81m to $25m if the business hasn't burnt cash since the half year accounts. Will keep a close eye on the debt levels.
PPG Price at posting:
$1.22 Sentiment: Buy Disclosure: Not Held
