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.
PPG Media Contact:Ken Armistead, +44 1924354848Communications, EMEA Regionkarmistead@ppg.comorMark Silvey, +1-412-434-3046Corporate Communicationssilvey@ppg.com