PPG Automotive OEM Coatings Announces Electrocoat Price IncreasesBy Ppg Industries, PRNE
Wednesday, March 16, 2011
TROY, Michigan, March 17, 2011 - The automotive OEM coatings business of PPG Industries (NYSE: PPG), the
world's leading manufacturer of transportation coatings, announced today that
it will implement price increases and surcharges for its electrocoat primer
coatings line and related products effective May 1 or as contracts permit.
Global demand, capacity constraints, outages and availability of
feedstocks and intermediates have tightened supply and caused significant
increases in raw material costs, resulting in the need for price adjustments,
according to Cynthia A. Niekamp, PPG senior vice president, automotive OEM
"The rapid and sustained rise in costs for key raw materials such as
epoxy resins and titanium dioxide requires us to take pricing action on our
electrocoat primer and related products," Niekamp said. "We remain committed
to providing our customers with global coatings solutions that offer
outstanding value, world class service and the latest technologies."
The price increase is being implemented globally, and details will be
communicated locally with customers.
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.
Mike Millar of PPG Automotive Coatings, +1-248-267-2237, millar at ppg.com; Investor, Vince Morales, +1-412-434-3740, vmorales at ppg.com
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