International. PPG confirmed that it is increasing prices for selected coating products for automotive OEM customers in the Americas. The increase has already taken effect or as customers' contracts allow.
The company indicated that this price increase helps mitigate the increase in raw materials and operating costs, as recent demand for raw materials has exceeded the supply capacity of industries that supply materials for paints and coatings. In addition, PPG has seen higher freight and logistics costs over the past six months as oil prices have risen nearly 40 percent in the past nine months.
"While we have experienced broad inflation in various categories of raw materials, liquid epoxy resins, titanium dioxide, isocyanates, plasticizers and solvents have had the most significant increases," said Matt Marek, PPG vice president of OEM automotive coatings in the Americas. "PPG remains committed to providing innovative product solutions for our customers, and we will continue to manage other costs whenever possible."
PPG explained that the details of the price increases will be communicated directly to customers.
