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PPG Announces Global Price Increase for Automotive OEM Coatings
PITTSBURGH--(BUSINESS WIRE)--PPG (NYSE:PPG) Oct.8 announced a global price increase at an average of 10 percent depending on product line and region for all automotive original equipment manufacturer (OEM) products, including coatings, adhesives and sealants. The changes will take effect November 1, 2018, or as permissible by contract.
“While PPG remains aggressive in its efforts to control expenses, we have experienced continued and unprecedented cost pressures in raw materials, freight, distribution and labor, across every region,” said Rebecca Liebert, PPG senior vice president, automotive coatings. “In addition, as we collaborate with our automotive manufacturers to prepare for new autonomous driving and vehicle electrification technologies, our customers demand additional functionality from our coatings products. This price increase is vital to sustaining our history of innovating these next-generation solutions and enhancing our ability to continue to meet demand.”