PITTSBURGH--(BUSINESS WIRE)--Mar. 20, 2014--
PPG Industries (NYSE:PPG) today announced that its North American
architectural coatings business has taken a minority equity position in
The Coatings Alliance, LLC (TCA), a cooperative of 42 paint dealers in
the U.S. and Canada. TCA is based in Buffalo, N.Y. Financial terms were
not disclosed.
PPG will become the exclusive paint manufacturer for TCA, producing the
TCA-owned C2 Paint brand. Under the agreement, PPG will also act as an
independent sales representative for C2 Paint to independent paint and
decorating retailers throughout North America.
“TCA’s C2 Paint is an exclusive, dealer-owned brand that will provide
our existing network of independent retailers with another premium
product option. PPG’s position in TCA also continues to expand our
distribution reach in North America and demonstrates our strategic
interest and commitment to the independent dealer channel,” said Scott
Sinetar, PPG vice president, architectural coatings, North America.
“With TCA, dealers will have more brand options to fit their specific
needs and strategies.”
“We are privileged to partner with PPG Industries. As the world’s
leading coatings and specialty materials company, PPG Industries’
business stature, expertise and global reach will provide TCA with
unsurpassed access to world-class manufacturing and an extensive network
of sales representatives with established industry relationships,” said
Tom Hill, Chief Executive Officer of TCA. “PPG’s partnership will also
allow a greater investment in research and development, marketing, and
distribution to ensure C2 Paint’s premier market position, as well as to
further its commitment to eco-friendly, more sustainable products.”
PPG Architectural Coatings produces paints, stains and specialty
coatings marketed under well-recognized brands like CIL®,
FLOOD®, GLIDDEN®, LIQUID NAILS®, OLYMPIC®,
PPG PITTSBURGH PAINTS®, PPG PORTER PAINTS®, MANOR
HALL®, PPG Paints, SICO® and SIKKENS®.
Its expansive manufacturing and distribution network includes more than
800 company-owned stores, more than 5,000 independent dealer locations
and all major home improvement centers.
About C2 Paint
Celebrated for luxurious, handcrafted,
full-spectrum color, C2 employs leading-edge technology and finely
ground artist-grade pigments to create paint with exceptional vibrancy,
coverage and hand. With the finest handcrafted pigments, its edited
496-color palette of luminous, saturated colors is designed to capture
the essence of the natural world. C2 Paint's innovative color sample
program includes color memos made with real paint that come in
pocket-sized take home chips, poster-sized ultimate paint chips or in
customizable pint-sized liquid samples. C2 Paint's low VOC formula is
both earth and user-friendly and is a favorite of painters and
designers. Recently the company debuted ‘The Naturals Color
Collection by Barry Dixon,’ its first licensed paint offering. For
further information, visit: www.c2paint.com.
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. 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 the expected benefits of PPG Industries’
partnership with The Coatings Alliance. Actual events may differ
materially from current expectations and are subject to a number of
risks and uncertainties, including the failure to achieve the expected
benefits of partnership 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.
Bringing innovation to the surface is a trademark of PPG
Industries Ohio, Inc.
CIL, FLOOD, GLIDDEN, LIQUID NAILS, MANOR
HALL, OLYMPIC, PPG PITTSBURGH PAINTS, PPG PORTER PAINTS and SICO
are registered trademarks of the PPG group of companies.
SIKKENS
is a registered trademark of AkzoNobel.
Source: PPG Industries
PPG Industries
Media:
Mark Silvey, 412-434-3046
PPG
Corporate Communications
silvey@ppg.com
or
Investors:
Vince
Morales, 412-434-3740
PPG Investor Relations
vmorales@ppg.com