PPG Architectural Coatings to increase prices in face of rising raw material, energy costs
PITTSBURGH, April 17, 2008 – PPG Industries (NYSE:PPG) announced today that rising raw material and energy costs have made it necessary to execute price increases in its Architectural Coatings business. The increases are to be implemented throughout the second quarter 2008.
“Despite our continued productivity gains to offset inflation, we find it necessary to raise prices across our channels of distribution,” said Scott Sinetar, PPG vice president, architectural coatings, North America. He said raw material inflation in resins, solvents, pigments and fuel-related distribution costs are primary drivers of the increase.
PPG Architectural Coatings supplies architectural paint and coatings for residential, commercial and industrial uses through home centers, company-owned paint stores and independent dealers nationwide. Brands include Pittsburgh Paints, Porter Paints, Olympic Paints and Stains, and PPG.
Pittsburgh-based PPG is a global supplier of paints, coatings, chemicals, optical products, specialty materials, glass and fiber glass. The company has more than 150 manufacturing facilities and equity affiliates and operates in more than 60 countries. PPG’s sales in 2007 were $11.2 billion. SigmaKalon, a worldwide coatings producer based in Uithoorn, Netherlands, that PPG acquired Jan. 2, 2008, had 2007 sales of $2.9 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit www.ppg.com.
Olympic, Pittsburgh and Porter are trademarks of PPG Industries.
PPG Architectural Coatings