PPG Announces Automotive and Industrial Coatings Price Increases in Europe
March 24 2017 - 8:11AM
Business Wire
PPG (NYSE:PPG) today announced that it will implement
customer-specific price increases and surcharges in Europe to
offset a significant rise in raw material costs. The price changes
will impact a select group of automotive OEM (original equipment
manufacturer) and industrial coatings products, effective May 1 or
as contracts permit.
“The recent input cost increases in Europe, similar to what we
experienced in Asia, are due to a significant tightening of
commodity supply, supplier capacity constraints and regional
feedstock availability,” said Tim Knavish, PPG senior vice
president, automotive OEM coatings.
“While we must work with our customers to share the burden of
these cost increases, we remain committed to providing them with
global coatings solutions that offer outstanding value, world-class
service and the latest technologies,” said Shelley Bausch, PPG vice
president, industrial coatings.
Details of the price increases will be communicated directly to
customers.
PPG: WE PROTECT AND BEAUTIFY THE WORLD™
At PPG (NYSE:PPG), we work every day to develop and deliver the
paints, coatings and materials that our customers have trusted for
more than 130 years. Through dedication and creativity, we solve
our customers’ biggest challenges, collaborating closely to find
the right path forward. With headquarters in Pittsburgh, we operate
and innovate in more than 70 countries and reported net sales of
$14.8 billion in 2016. We serve customers in construction, consumer
products, industrial and transportation markets and aftermarkets.
To learn more, visit www.ppg.com.
We protect and beautify the world is a trademark and the PPG
Logo is a registered trademark of PPG Industries Ohio, Inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20170324005278/en/
PPG Media Contact:Ken Armistead, +44
1924354848Communications, EMEA Regionkarmistead@ppg.comorMark
Silvey, +1-412-434-3046Corporate Communicationssilvey@ppg.com
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