PPG Architectural Coatings announces further pricing action

Date: 16 June 2008
Source: PPG Industries
PPG Industries (NYSE: PPG) announced on June 12, 2008  that its architectural coatings business will execute another round of price increases as a result of rapidly accelerating raw material and energy costs.

The increases will be implemented during the third quarter of 2008 across all distribution channels.

“The persistent raw material and energy cost increases that we continue to face are impacting every aspect of our business,” said Scott Sinetar, PPG vice president, architectural coatings. “We have been extremely aggressive in reducing controllable, internal costs, but these measures cannot sufficiently offset the continuing market-driven inflationary pressures.”

PPG Architectural Coatings supplies architectural paint and coatings for residential, commercial and industrial uses through home centers, company-owned paint stores and independent dealers nationwide. Its brands include Pittsburgh Paints, Porter Paints and Olympic Paints and Stains.

About PPG

Pittsburgh-based PPG is a global supplier of paints, coatings, chemicals, optical products, specialty materials, glass and fiber glass. The company has more than 150 manufacturing facilities and equity affiliates and operates in more than 60 countries. PPG’s sales in 2007 were $11.2 billion. SigmaKalon, a worldwide coatings producer based in Uithoorn, Netherlands, that PPG acquired Jan. 2, 2008, had 2007 sales of $2.9 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit www.ppg.com.

 

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