PPG announces price increase on industrial coatings products in North America
PITTSBURGH, Dec. 6, 2010 – PPG Industries’ (NYSE:PPG) industrial coatings business announced today that it is raising prices an average of 5 to 10 percent on all its products in North America, effective Dec. 1 or as permissible by contract.
“While PPG continues to implement cost-control measures throughout its operations, these efforts have not sufficiently offset rapidly rising raw material costs from key suppliers to the industrial coatings business, who are experiencing growing global demand as well as supply chain issues,” said Richard Zoulek, PPG general manager, industrial coatings, United States and Canada.
Sales representatives will communicate price-increase details to their customers for all products affected.
PPG Industries’ vision is to continue to be the world’s leading coatings and specialty products company. Founded in 1883, the company serves customers in industrial, transportation, consumer products, and construction markets and aftermarkets. With headquarters in Pittsburgh, PPG operates in more than 60 countries around the globe. Sales in 2009 were $12.2 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit www.ppg.com.
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