TROY, Mich.--(BUSINESS WIRE)--PPG (NYSE: PPG) today announced that it is raising prices for select coatings products for Automotive OEM customers in the Americas. The increase will take effect immediately or as customer contracts allow.
This price increase helps mitigate rising raw material and operating costs, as recent demand for raw materials has outstripped the supply capacity of industries providing materials for paints and coatings. In addition, PPG has seen heightened freight and logistics costs for the past six months due to oil prices increasing nearly 40 percent over the past nine months.
“While we have experienced broad inflation across a number of raw material categories, liquid epoxy resins, titanium dioxide, isocyanates, plasticizers and solvents have incurred the most significant increases,” said Matt Marek, PPG vice president, automotive OEM coatings, Americas. “PPG remains committed to providing innovative product solutions for our customers, and we will continue to manage other costs wherever possible.”
Details of the price increases will be communicated directly to customers.
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