TROY, Michigan, March 17, 2011 /PRNewswire/ --
The automotive OEM coatings business of PPG Industries (NYSE: PPG), the world's leading manufacturer of transportation coatings, announced today that it will implement price increases and surcharges for its electrocoat primer coatings line and related products effective May 1 or as contracts permit.
Global demand, capacity constraints, outages and availability of feedstocks and intermediates have tightened supply and caused significant increases in raw material costs, resulting in the need for price adjustments, according to Cynthia A. Niekamp, PPG senior vice president, automotive OEM coatings.
"The rapid and sustained rise in costs for key raw materials such as epoxy resins and titanium dioxide requires us to take pricing action on our electrocoat primer and related products," Niekamp said. "We remain committed to providing our customers with global coatings solutions that offer outstanding value, world class service and the latest technologies."
The price increase is being implemented globally, and details will be communicated locally with customers.
PPG Industries' vision is to continue to be the world's leading coatings and specialty products company. Founded in 1883, the company serves customers in industrial, transportation, consumer products, and construction markets and aftermarkets. With headquarters in Pittsburgh, PPG operates in more than 60 countries around the globe. Sales in 2010 were $13.4 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit http://www.ppg.com.
SOURCE PPG Industries