PPG Announces Price Increase on Automotive Refinish Products in China
SHANGHAI--(BUSINESS WIRE)--
PPG (NYSE:PPG) today announced that it has implemented a price increase
for its automotive refinish products in China. The change was effective
April 1, 2019 and impacts automotive refinish coatings products in
China, as contracts permit.
In recent years, PPG has experienced significant cost increases in many
areas especially raw materials, logistics and freight.
“We have tried to offset rising costs through cost-control measures
where possible, but the cumulative effect is having a significant impact
on our business,” said Pauline Yuen, PPG vice president, automotive
refinish coatings, Asia. “We must increase our prices so we can continue
to offer exceptional products and services to support the success of our
customers.”
PPG will communicate details of the price increase 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 135
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 $15.4 billion in 2018.
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 is a trademark and the PPG logo is
a registered trademark of PPG Industries Ohio, Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190403005634/en/
PPG Media Contact:
Denise Lu
Automotive Refinish
+1-412-434-2349
dlv@ppg.com
PPG Investor Contact:
John Bruno
Investor Relations
+1-412-434-3466
jbruno@ppg.com
investor.ppg.com
Source: PPG