PPG (PPG) Archtectural Coatings Biz Announces Price Increases
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PPG Industries, Inc. (NYSE: PPG) 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.
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