PPG announces price increase on multi-end rovings
PITTSBURGH, Dec. 2, 2009 – PPG Industries’ (NYSE:PPG) fiber glass business announced today that it is raising prices on all multi-end rovings by 5-10 cents per pound (US) effective Jan. 1, 2010, or as permissible by contract.
“The recession caused price erosion and unsustainable profit levels,” said Kevin McDonald, PPG general manager, fiber glass. “As the economy recovers, an increase in pricing is necessary to cover increasing raw material costs and justify the reinvestment to increase capacity to match demand.”
PPG’s price increase will affect all multi-end rovings. Sales representatives will communicate price-increase details to their customers for these products.
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
PPG Investor Relations