Inflation du jour, perhaps customers can substitute dirt and water?:
PPG Raises Liquid, Powder Prices
Friday September 24, 10:30 am ET
PPG Industries Raises Liquid, Powder Prices 7 to 10 Percent
PITTSBURGH (AP) -- The industrial coatings business of PPG Industries Inc. on Friday said it will increase prices for all liquid and powder products in North America to reflect rising raw material costs, effective Oct. 1.
The increases will range from 10 to 12 percent for powder products and about 7 percent for general industrial liquid and adhesive products. The company increased its prices for coil and extrusion products by 5 percent in July.
PPG said the cost of solvents, resins, pigments, containers and energy, as well as a transportation shortage, have hurt its business.
"Our industrial coatings business faces an extraordinary challenge as costs rise dramatically," said J. Rich Alexander, vice president of industrial coatings, in a statement. "We continue to take aggressive steps to control such costs, including improved process efficiencies, disciplined negotiation of supplier contracts, and optimized distribution processes to address the continued rise in transportation expenses."
The company posted 2003 sales of $8.8 billion. |
