PPG Announces Global Price Increase for Automotive OEM Coatings
PITTSBURGH--(BUSINESS WIRE)--Oct 8, 2018--PPG (NYSE:PPG) today announced a global price increase at an average of 10 percent depending on product line and region for all automotive original equipment manufacturer (OEM) products, including coatings, adhesives and sealants. The changes will take effect November 1, 2018, or as permissible by contract.
“While PPG remains aggressive in its efforts to control expenses, we have experienced continued and unprecedented cost pressures in raw materials, freight, distribution and labor, across every region,” said Rebecca Liebert, PPG senior vice president, automotive coatings. “In addition, as we collaborate with our automotive manufacturers to prepare for new autonomous driving and vehicle electrification technologies, our customers demand additional functionality from our coatings products. This price increase is vital to sustaining our history of innovating these next-generation solutions and enhancing our ability to continue to meet demand.”
PPG sales representatives will contact customers with pricing details.
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At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for 135 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 $14.7 billion in 2017. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.
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CONTACT: PPG Media Contact
Mike Millar, +1-248-641-2237
Automotive OEM coatings
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