PPG announces price increase on fiber glass products in Americas, EMEA
PITTSBURGH, June 1, 2012 – PPG Industries’ (NYSE:PPG) fiber glass business announced today that it is implementing a 5 percent price increase, as allowed by contract, across all products in the Americas and EMEA (Europe, Middle East and Africa).
“Costs for raw materials, petroleum-based binder ingredients, precious metals and transportation have continued to rise beyond what we can absorb,” said Kevin McDonald, PPG general manager for fiber glass. “This price increase is necessary, not only to offset the impact of these rising costs and other inflation factors but also to make investments to ensure we have ample capacity to continue meeting customer demand.”
PPG’s price increase will affect all fiber glass products, including chopped fibers, direct and multi-end rovings, mats and specialty yarns.
PPG Fiber Glass is a global manufacturer of reinforcement materials for thermoset and thermoplastic composite applications with manufacturing and research facilities in the United States, Europe and Asia. It serves the transportation, energy, infrastructure and consumer markets, as well as electronic circuit board and specialty yarn markets. For more information, visit www.ppgfiberglass.com. EXPERTISE YOU TRUST. SOLUTIONS YOU DEMAND.(TM)
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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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