PPG announces price increase for industrial coatings in Asia/Pacific region
Liquid, powder, e-coat product prices to increase April 1 or as permissible by contract
PITTSBURGH, April 5, 2012 – PPG Industries’ (NYSE:PPG) industrial coatings business has announced today it is raising prices by an average of 2 to 10 percent on all its liquid, powder and electrocoat (E-coat) products in the Asia/Pacific region, effective April 1 or as permissible by contract.
"We have experienced ongoing and significant cost escalation for a majority of our raw materials, especially titanium dioxide (TiO2) and resins,” said Willie Wu, PPG vice president, industrial coatings, Asia/Pacific. “We will continue to implement cost-control measures throughout our operations, and to aggressively negotiate pricing with suppliers, but the pressures we are facing make this action unavoidable.”
Sales representatives will communicate price increase details to their customers for all products affected.
PPG: BRINGING INNOVATION TO THE SURFACE.(TM)
PPG Industries' vision is to continue to be the world’s leading coatings and specialty products company. Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in more than 60 countries around the world. Sales in 2011 were $14.9 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit www.ppg.com.
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