PPG opens Wuhu plant for automotive coatings
New facility demonstrates commitment to Asia/Pacific region, partnership with CheryWUHU, China, Aug. 7, 2008 –
PPG Industries (NYSE:PPG) today celebrated the opening of its new automotive coatings plant here. Charles E. Bunch, PPG chairman and chief executive officer, and Yin Tongyue, chairman and general manager of Chery Automotive, were present, along with senior government officials from Anhui province and Wuhu city.
PPG began construction of the 40,000-square meter plant in April 2007, and has invested more than RMB 70 million in the facility. “Building a plant in Wuhu is consistent with our growth strategy, which targets emerging regions,” Bunch said. “I’m very happy to be here in Wuhu to witness this milestone, as PPG shows its commitment to development in the Chinese market and support of national-brand automotive makers such as Chery.”
PPG Coatings (Wuhu) Co., Ltd. will primarily serve the local market with state-of-the-art technologies. “One of the major reasons to invest in a new plant in Wuhu is to better support one of our key customers, Chery Automotive,” said Viktor Sekmakas, president, PPG Asia/Pacific. “We want to help our customers reduce costs, and building a plant close to Chery helps to shorten lead time and increase efficiencies. In addition, this plant will enable us to better support the market in Southern China.”
Michael Hartings, PPG general manager, automotive coatings, Asia/Pacific, said, “With more than 80 years of experience in automotive coatings, PPG is well equipped to support Chery. We feel very proud to be able to contribute to our customer’s growth.”
During the opening ceremony, Yin Tongyue, chairman and general manager of Chery congratulated PPG and expressed his confidence in the success of the strategic cooperation between the two companies.
The world's leading manufacturer of transportation coatings, PPG was one of the first global coatings companies to invest in China in the 1980s. PPG produces automotive coatings in China for customers such as General Motors, Mercedes-Benz, BMW, Dongfeng Peugeot Citroen, Chery and Hainan Mazda.About Chery
Chery Automobile Co., Ltd., was founded in 1997. With more than 10 years of hard work and an objective to manufacture “safer, more energy-saving and more eco-friendly” vehicles, Chery has already become the banner for China’s national auto brand. In 2007, Chery achieved a total sales volume of 381,200 vehicles, ranking fourth in China. The annual export volume has reached 119,800 vehicles, ranking first for five consecutive years for car exports in China. By the end of 2007, the number of Chery employees reached 25,000 and total corporate assets exceeded RMB 22 billion.
Chery has an advanced and unified production and development system and boasts an annual output of 650,000 cars, 400,000 engines and 300,000 transmissions. Chery’s products include 10 series of cars – QQ3, QQ6, A1, Riich2, Cowin, Karry3, A5, Tiggo3, Eastar and Cross Eastar.
At present, Chery has achieved its first-stage goal of building a successful independent Chinese brand, and it is now on its way to creating a world-famous brand through exports and innovation.About 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 shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit www.ppg.com
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