PPG to Announce Global Price Increase on Industrial Coatings Products
PPG (NYSE:PPG) announced that it will implement up to a 10% price increase on its industrial coatings products globally. The change will be effective Jan. 1, 2020, or as permissible by contract, and will apply to all industrial coatings end-use segments.
Chancey Hagerty, PPG vice president, global industrial coatings, cited key drivers for the increase, including the need to recoup significant inflation from the past few years and continuing increases among certain cost pools.
“We have been diligent in using cost-control measures across our global supply chain to increase efficiency and offset costs,” said Hagerty. “Despite these efforts, we must modify our pricing to ensure that we can continue to deliver exceptional technical support and innovative solutions to our customers.”
PPG sales representatives will communicate price increase details to customers for all affected products.
Source: PPG
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