PPG Architectural Coatings Announces 2010 Pricing Action
November 03 2009 - 5:40PM
PR Newswire (US)
PITTSBURGH, Nov. 3 /PRNewswire-FirstCall/ -- PPG Industries, Inc.
announced today that its Architectural Coatings business unit will
execute price increases across distribution channels in January
2010 in response to a resurging escalation of raw material costs.
"After a brief period of stable costs we have returned to a climate
of increasing costs on key raw materials in the fourth quarter of
2009; and the outlook for next year is for continued escalation,"
said Scott Sinetar, Vice President, PPG Architectural Coatings. "We
have been extremely aggressive in this slow economy in reducing
controllable internal costs, but these measures cannot sufficiently
offset this new wave of 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,
Olympic Paints and Stains, and PPG. 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. Sales in 2007 were US$11.2
billion. PPG shares are traded on the New York Stock Exchange
(symbol: PPG). For more information, visit http://www.ppg.com/.
DATASOURCE: PPG Industries, Inc. CONTACT: Tom Dougherty, Director
of Marketing of PPG Industries, Inc., +1-412-434-3458 Web Site:
http://www.ppg.com/
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