PPG announces global chopped strand fiber glass price increasePITTSBURGH, Sept. 11, 2009 –
PPG Industries’ (NYSE:PPG) fiber glass business announced today that it is raising prices 5 to 7 percent effective Oct. 1, or as permissible by contract, for all thermoplastic chopped strand and thermoset dry chopped strand products.
“The increase in chopped strand pricing reflects the increasing costs of raw materials and historically weak pricing in the market,” said Kevin McDonald, PPG general manager, fiber glass. “As worldwide demand returns, price increases are needed to cover cost increases and enable reinvestment in furnace capacity.”
PPG’s price increases will affect all thermoplastic chopped strand and thermoset dry chopped strand products. Sales representatives will communicate price-increase details to their customers in these markets.About PPG
Pittsburgh-based PPG is a global supplier of paints, coatings, optical products, specialty materials, chemicals, glass and fiber glass. The company has more than 140 manufacturing facilities and equity affiliates and operates in more than 60 countries. Sales in 2008 were $15.8 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit www.ppg.com
PPG Fiber Glass