PPG Industries plans to lay off about 1,800 employees amid efforts to cut costs, with the paints and coatings maker also inking a deal to sell a sizeable chunk of its architectural business.

(Reuters) - Paints and coatings maker PPG Industries said on Thursday it would lay off 1,800 employees in the United States and Europe and close various facilities as part of its cost-reduction program. Shares of the Pittsburgh, Pennsylvania-based company were up 1.3% before the bell.

PPG agreed to sell its architectural-coatings business in the U.S. and Canada to private-equity firm American Industrial Partners for $550 million, and outlined cost and job cuts.

PPG Industries Inc. said Thursday it plans to cut about 1,800 positions and close an unspecified number of plants under a cost-reduction plan it disclosed while announcing a deal to sell its $2 billion architectural coatings business.