Industry News

PPG's Industrial Coatings Business Announces Another Round of Price Increases

Published on 2005-02-24. Author : SpecialChem

PITTSBURGH -- The industrial coatings business of PPG Industries (NYSE:PPG - News) announced that it is raising prices effective March 15 for all liquid, electrodeposition and powder products in North America for the general industrial, coil-and-extrusion and wood segments.

"Our industrial coatings business continues to face the rapid escalation of raw material costs," said J. Rich Alexander, vice president of PPG's industrial coatings business. "The inflation that we began to see last year with respect to raw materials has continued and intensified. In addition, a number of raw materials are in very tight supply. While our supply chain team has done a great job of managing through these issues, and while we continue to take aggressive actions to control our operating costs and improve productivity, the unprecedented raw material escalation requires us to raise prices once again."

Pittsburgh-based PPG is a global supplier of coatings, glass, fiber glass and chemicals, with more than 100 manufacturing facilities and equity affiliates in 23 countries. Sales in 2004 were $9.5 billion.

Source: PPG Industries, Inc.

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