PPG Raising Prices for North American Industrial Coatings
Posted on: Thursday, 6 October 2005, 12:00 CDT
PPG Industries (NYSE:PPG) will raise prices between 5 and 11 percent, depending on product line, for its industrial coatings in North America, effective Nov. 1.
"We continue to mitigate some raw material cost increases through aggressive cost-reduction programs," said Matt Marek, general manager, industrial coatings. "However, the magnitude and continuing nature of the cost increases for all forms of energy and raw materials require us to address this situation with another increase in our prices. Today's price increase announcement continues actions we took beginning last year to help offset inflation in energy and raw materials."
The increase applies to industrial coatings, including liquid, powder and electrodeposition coatings, as well as pretreatment chemicals used in the manufacture of appliances, agricultural and construction equipment, automotive parts and accessories, coil, extrusion and other finished products.
Pittsburgh-based PPG is a global supplier of industrial, packaging and transportation coatings, and a leading producer of architectural coatings, primarily in North America. In addition, PPG manufactures flat and fabricated glass, continuous-strand fiber glass and chemicals. Sales were US$9.5 billion for 2004.
Source: Business Wire
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