LIPETSK, Russia--(BUSINESS WIRE)--PPG (NYSE:PPG) today marked the opening of a 45 million euros (US$49 million) paint and coatings manufacturing facility and commercial operation in the Lipetsk region of Russia. The site will provide about 200 total positions and produce about 25 million liters (6.6 million gallons) of coatings at full capacity.
In addition to facilities for manufacturing and distributing coatings for automotive, industrial, packaging, and protective and marine applications, the facility includes administrative offices and technical laboratories.
“PPG’s investment in this facility further demonstrates our commitment to better serve our existing customers in Russia and Eastern Europe, and to expand our presence in the Europe, Middle East and Africa (EMEA) region,” said Jean-Marie Greindl, PPG senior vice president, global architectural coatings, and president, PPG EMEA. “Having local manufacturing, distribution and technical operations will help PPG meet growing local demand for its innovative paint and coatings products.”
Since announcing plans for the new facility in 2013, PPG has established itself as a supportive member of the Lipetsk community through various activities. Last year, PPG employees volunteered at the Griazy orphanage in Lipetsk to help repair and update the building’s gymnasium, replacing materials on floors and walls with safer products donated by PPG and its local distributor. PPG also operates an adhesives and sealants plant in Kolomna, Russia, and the company donated to a local school there to help it better serve young people in the community.
“As a community partner, PPG wants to support local organizations that are making a difference where our employees work and live,” said Jens Brackebusch, PPG general manager, Russia. “This is an important part of our global mission to be caring, responsible corporate citizens in our communities.”
PPG: WE PROTECT AND BEAUTIFY THE WORLD™
At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for more than 130 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $14.8 billion in 2016. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.
Statements in this news release relating to matters that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 reflecting the company’s current view with respect to future events or objectives and financial or operational performance or results. The forward-looking statements contained herein include statements relating to the employment, capacity, operations and benefits of PPG Industries’ operation in the Lipetsk region of Russia. Actual events may differ materially from current expectations and are subject to a number of risks and uncertainties, including failure to achieve the expected operations of the Lipetsk facility and the other risks and uncertainties discussed in PPG’s periodic reports on Form 10-K and Form 10-Q and its current reports on Form 8-K filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of their initial issuance, and PPG Industries does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
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