PPG Announces Automotive and Industrial Coatings Price Increases in Europe
PITTSBURGH–(BUSINESS WIRE)– PPG (NYSE:PPG) today announced that it will implement customer-specific price increases and surcharges in Europe to offset a significant rise in raw material costs. The price changes will impact a select group of automotive OEM (original equipment manufacturer) and industrial coatings products, effective May 1 or as contracts permit.
“The recent input cost increases in Europe, similar to what we experienced in Asia, are due to a significant tightening of commodity supply, supplier capacity constraints and regional feedstock availability,” said Tim Knavish, PPG senior vice president, automotive OEM coatings.
“While we must work with our customers to share the burden of these cost increases, we remain committed to providing them with global coatings solutions that offer outstanding value, world-class service and the latest technologies,” said Shelley Bausch, PPG vice president, industrial coatings.
Details of the price increases will be communicated directly to customers.
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Contacts
PPG Media Contact:
Ken Armistead, +44 1924354848
Communications, EMEA Region
karmistead@ppg.com
or
Mark Silvey, +1-412-434-3046
Corporate Communications
silvey@ppg.com