PITTSBURGH--(BUSINESS WIRE)--Oct. 21, 2014--
PPG Industries (NYSE:PPG) and Henan Billions Chemical Co., Ltd., today
held a ceremony to mark the completion of Henan Billions’ titanium
dioxide (TiO2) manufacturing and research facility in the Henan Province
of China.
Scheduled to begin production in the first quarter 2015, the facility
will manufacture significant volumes of TiO2 using a chloride-based
process. The 366,000-square-meter plant is expected to produce up to
100,000 metric tons of TiO2 per year, and has capabilities to expand
capacity. PPG intends to use TiO2 manufactured at the new facility in
the production of paints and other coatings. Additionally, the new site
features a 12,000-square-meter enterprise technology center, which will
enable close collaboration by the two companies to accelerate
development, testing, and qualification of next generation
chloride-based TiO2 from the newly commissioned plant.
Attending the ceremony from Henan Billions was Xu Gang, Chairman of the
Board; Tan Ruiqing, Deputy Chairman of the Board; and Han Jianhua,
General Manager. Attending the ceremony on behalf of PPG was executive
vice president, Viktoras Sekmakas; chief technology officer and vice
president, coatings research and development, Charles Kahle; and vice
president, purchasing and logistics, Stephen Lampe.
“PPG values its partnership with Henan Billions and is pleased with the
additional resources the new facility will provide for both companies.
The pre-production batches at the facility have scaled up well and we
are in the final stages of qualifying commercial quantities of product.
With the quality demonstrated to date, PPG plans to significantly
increase its purchase of TiO2 from the facility,” said Kahle. “This
facility and our partnership with Henan Billions exemplify PPG’s
commitment to securing the global supply of titanium dioxide needed to
support our business.”
Completion of the facility follows an agreement established in 2012
between PPG and Henan Billions under which PPG licensed certain
chloride-based technologies to Henan Billions. PPG also established a
long-term supply agreement to purchase TiO2 from Henan Billions.
About Henan Billions Chemicals Co., Ltd.
China-based Henan Billions Chemicals Co., Ltd., produces and sells
titanium dioxide and zirconium. The company is located in Jiaozuo City,
Henan Province, and had 2011 sales of about $300 million. Its shares are
traded on the Shenzhen stock exchange.
PPG: BRINGING INNOVATION TO THE SURFACE.(TM)
PPG Industries' vision is to continue to be the world’s leading coatings
and specialty materials company. Through leadership in innovation,
sustainability and color, PPG helps customers in industrial,
transportation, consumer products, and construction markets and
aftermarkets to enhance more surfaces in more ways than does any other
company. Founded in 1883, PPG has global headquarters in Pittsburgh and
operates in nearly 70 countries around the world. Reported net sales in
2013 were $15.1 billion. PPG shares are traded on the New York Stock
Exchange (symbol: PPG). For more information, visit www.ppg.com
and follow @PPGIndustries
on Twitter.
Forward-Looking Statements
Statements in this news release relating to matters that are not
historical facts are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 reflecting the
company’s current view with respect to future events or objectives and
financial or operational performance or results. The forward-looking
statements contained herein include statements relating to future TiO2
production by Henan Billions and the future relationship between PPG
Industries and Henan Billions. Actual events may differ materially from
current expectations and are subject to a number of risks and
uncertainties, including project start-up risks, future changes in
supply and technical collaboration arrangements between PPG Industries
and Henan Billions, and the other risks and uncertainties discussed in
PPG Industries’ periodic reports on Form 10-K and Form 10-Q, and its
current reports on Form 8-K filed with the Securities and Exchange
Commission. Forward-looking statements speak only as of the date of
their initial issuance, and PPG Industries does not undertake any
obligation to update or revise publicly any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as otherwise required by applicable law.
Bringing innovation to the surface is a trademark of PPG
Industries Ohio, Inc.
Source: PPG Industries, Inc.
PPG Industries, Inc.
Media:
PPG Corporate Communications
Mark
Silvey, 412-434-3046
silvey@ppg.com
or
Investors:
PPG
Investor Relations
Vince Morales, 412-434-3740
vmorales@ppg.com