PPG Announces Global Price Increase on Industrial Coatings Products
PITTSBURGH--(BUSINESS WIRE)--Dec 3, 2018--PPG (NYSE:PPG) today announced that it will implement a 10 percent price increase on all of its industrial coatings products globally. The change will be effective Jan. 1, 2019, or as permissible by contract, and will apply to all industrial coatings end-use segments.
Tim Knavish, PPG senior vice president, industrial coatings, cited unprecedented cost pressures in raw materials, freight, energy and labor for the resulting price increase.
“We continue to be diligent in offsetting costs and exercising cost-control measures across our supply chain to increase efficiency,” said Knavish. “Despite these efforts, we must modify our pricing to ensure that we can continue to deliver exceptional technical support and solutions to our customers.”
PPG sales representatives will communicate price increase details to customers for all affected products.
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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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PUB: 12/03/2018 10:03 AM/DISC: 12/03/2018 10:03 AM