PPG Announces Automotive and Industrial Coatings Price Increases in Asia
PITTSBURGH--(BUSINESS WIRE)--
PPG (NYSE:PPG) today announced that it will implement customer-specific
price increases and surcharges in Asia to offset a significant rise in
raw material costs. The price changes will impact a select group of
automotive OEM (original equipment manufacturer) coatings and industrial
coatings products, effective April 1 or as contracts permit.
“The coatings industry in Asia is currently experiencing a dramatic
tightening of commodity supply, stemming from increased environmental
regulations and controls, supplier capacity constraints, and regional
availability of feedstocks,” said Tim Knavish, PPG senior vice
president, automotive OEM coatings.
“While we must work with our customers to share the burden of these cost
increases, we remain committed to providing them with global coatings
solutions that offer outstanding value, world-class service and the
latest technologies,” said Shelley Bausch, PPG vice president, global
industrial coatings.
Details of the price increases will be communicated directly to
customers.
PPG: WE PROTECT AND BEAUTIFY THE WORLD™
At PPG (NYSE:PPG), we work every day to develop and deliver the paints,
coatings and materials that our customers have trusted for more than 130
years. Through dedication and creativity, we solve our customers’
biggest challenges, collaborating closely to find the right path
forward. With headquarters in Pittsburgh, we operate and innovate in
more than 70 countries and reported net sales of $14.8 billion in 2016.
We serve customers in construction, consumer products, industrial and
transportation markets and aftermarkets. To learn more, visit www.ppg.com.
We protect and beautify the world and PPG Paints are
trademarks and the PPG Logo is a registered trademark of PPG
Industries Ohio, Inc.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170310005104/en/
PPG Media Contacts:
Hunter Lee, 86-22-6620-6102
China
hunterlee@ppg.com
china.ppg.com
or
Mark
Silvey, +1-412-434-3046
Corporate Communications
silvey@ppg.com
Source: PPG