Pittsburgh-based PPG Industries reached a deal to acquire the North American architectural business of AkzoNobel, N.V., for $1.05 billion.

The acquisition includes the addition of about 600 AkzoNobel-owned paint stores, creating a combined network of about 1,000 company-owned stores serving the North American market.

Paint supplier PPG Industries reported net sales for the first quarter 2012 of $3.8 billion, an increase of 6% versus net sales of $3.5 million during the prior year's first quarter. Net income for the first fiscal quarter, which ended March 31, 2012, was $13 million, compared to $228 million a year ago. 

PPG Industries, one of the leading manufacturers of paint and architectural coatings, has released a line of zero-VOC (volatile organic compound) paint for the commercial market. Speedhide, an existing line, will now offer Speedhide zero interior paint as a one-stop solution for contractors, building owners and facility managers looking for durability, affordability and long-lasting performance, according to the company.

Pittsburgh-based PPG Industries posted third-quarter net income of $311 million, up 18.7% from $262 million in the third quarter of 2010. Net sales for the quarter totaled $3.8 billion, up 8.6% from $3.5 billion in the prior-year period.

Paint manufacturer PPG industries announced the promotion of Diane Kappas as VP environment, health and safety, effective Oct. 1. She will report to Michael Garry, senior VP commodity chemicals. Kappas will lead all aspects of PPG’s global environmental affairs, including product stewardship, health, safety, compliance assurance and the corporate medical function. She also will provide leadership for PPG’s corporate sustainability programs.

Listening to a company’s quarterly earnings conference can be the equivalent of watching a CEO read a PowerPoint presentation, followed by a group of analysts grilling him on EBIT margins, payout ratios and basis points. Or it can be like panning for gold, with nuggets surfacing about store openings and closings, new products launches, new accounts with retail customers or “terminated” relationships with former customers. Competitors even talk about each other — sometimes by name — with a little prompting from analysts.