PITT-CHAR XP coatings are used extensively in the petrochemical industry, primarily for fireproofing off-shore oil rigs where the weight of installed fireproofing is a major concern.
Richard A. Beuke, vice-president of PPG architectural coatings, says the Ameron partnership will expose PITT-CHAR to a largely untapped global market. "PITT-CHAR has proven potential for broad application particularly in the marine and offshore markets," he said. "This agreement represents a great opportunity for us to expand our technology to these industries, while capitalizing on Ameron's worldwide sales and distribution network."
James S. Marlen, Chairman, President and Chief Executive Officer of Ameron, stated that, "This agreement represents an important marketing alliance with PPG and will strengthen Ameron's coating business worldwide. PITT-CHAR will enable Ameron to better serve as a single-source supplier to the marine and offshore markets. PITT-CHAR is the perfect complement to our existing line of high performance protective coatings."
PPG's PITT-CHAR is formulated from a patented, flexible, cross-linked epoxy resin, which enables the product to relieve stresses associated with thermal cycling, as well as those caused by structural vibration and movement during high-impact applications. PITT-CHAR also features excellent adhesion, and chemical and moisture resistance, which combine to offer superior long-term corrosion protection.
PPG is the world's largest producer of transportation coatings and a leading global manufacturer of industrial, aerospace and packaging coatings. Headquartered in Pittsburgh, PPG also produces glass, fiberglass and chemicals. Sales in 2001 were $8.2 billion.
Ameron International Corporation (NYSE:AMN) is a multinational manufacturer of highly-engineered products and materials for the chemical, industrial, energy, transportation and infrastructure markets. Ameron is a leading producer of water transmission lines; high-performance coatings and finishes for the protection of metals and structures; fiberglass-composite pipe for transporting oil, chemicals and corrosive fluids and specialized materials and products used in infrastructure projects. The company operates businesses in North America, South America, Europe, Australasia and Asia. It also participates in several joint-venture companies in the U.S., Saudi Arabia, Kuwait, Egypt and Mexico.
Cautionary statement for purposes of the "Safe Harbor" provisions of The Private Securities Litigation Reform Act of 1995: Any statements in this report that refer to the estimated or anticipated future results of Ameron International Corporation ("Ameron" or the "Company") are forward-looking and reflect the Company's current analysis of existing trends and information. Actual results may differ from current expectations based on a number of factors affecting Ameron's businesses, including competitive conditions and changing market situations. Matters affecting the economy generally, including the state of economies worldwide, can affect Ameron's results. Forward-looking statements represent the Company's judgment only as of the date of this report. Since actual results could differ materially, the reader is cautioned not to rely on these forward-looking statements. Moreover, Ameron disclaims any intent or obligation to update these forward-looking statements.