PPG announces price increase for industrial coatings products in North America
Coil and extrusion coatings prices to increase Sept. 1 or as permissible by contract
PITTSBURGH, June 22, 2011 – PPG Industries’ (NYSE:PPG) industrial coatings business announced today that it is raising prices by an average of 5 to 8 percent on all its coil and extrusion coating products in North America, effective Sept. 1 or as permissible by contract.
“Raw material costs have risen dramatically during the first two quarters of 2011, and they are continuing to trend upward,” said Richard Zoulek, PPG general manager, industrial coatings, U.S. and Canada. “While PPG has implemented aggressive cost-control measures throughout its operations, these efforts have not sufficiently offset surging raw material costs, thus necessitating this price increase.”
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 2010 were $13.4 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit www.ppg.com.
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