PPG Architectural Coatings Announces Further Pricing Action
12 Junho 2008 - 10:30AM
PR Newswire (US)
PITTSBURGH, June 12 /PRNewswire-FirstCall/ -- PPG Industries, Inc.
announced today that its Architectural Coatings business unit 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, Vice President, PPG
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, 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 Brand Marketing of PPG Industries, Inc.,
+1-412-434-3458 Web site: http://www.ppg.com/
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