PPG protective and marine coatings announces global price increases
PITTSBURGH, Feb. 24, 2011 – PPG Industries’ (NYSE: PPG) protective and marine coatings (PMC) business announced today that it is raising prices globally, as permissible by contract.
“As economies recover from the global recession, prices for basic commodities such as copper are increasing at alarming rates,” said Thomas Mauck, PPG vice president, protective and marine coatings. “Also, prices for epoxy and other processed raw materials that PMC uses are rising to account for the high costs of basic commodities. Based on current information and conditions, we forecast these inflationary trends will continue during 2011.”
PPG’s PMC business is a world leader in protective and marine coatings and is committed to supplying customers with quality coatings at the highest possible service level. Its products protect customers’ assets in some of the world’s most demanding conditions and environments, such as projects in the energy, infrastructure and marine segments. PPG PMC (www.ppgpmc.com) features AMERCOAT(R), SIGMA COATINGS(R) and other brand families.
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 2010 were $13.4 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit www.ppg.com.
Amercoat is a registered trademark of PPG Industries Ohio, Inc.
Sigma Coatings is a registered trademark of Sigma Coatings B.V. Co., owned by PPG Coatings Nederland B.V.
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