PITTSBURGH, Nov. 28, 2011 – PPG Industries (NYSE:PPG) today announced that it would increase prices for all grades of off-schedule liquid caustic soda in the United States by USD$45 per short ton, anhydrous basis, and in Canada by CAN$50 per metric ton, anhydrous basis, not to exceed list prices. The price increase is effective immediately, or as permissible by contract.
“This price increase is necessitated due to continued reduction in chlorine demand, driven by typical seasonal weakness and further, more recent, reductions in chlorine pricing for export opportunities along with efforts by many customers to manage inventories of chlorinated derivative finished goods,” said Michael H. McGarry, PPG senior vice president, Commodity Chemicals. “Global chlor-alkali operating rates continue to decline, as well as global operating rates for polyvinyl chloride (PVC) and other chlorine derivatives.”
McGarry said that the effective U.S. chlor-alkali operating rate for October was 78 percent of capacity, down from 87 percent in August, and that rates in Europe experienced similar declines, dropping from 83 percent in July to 74 percent of capacity in October. PVC operating rates across Asia and in Europe have declined significantly in the past 45 days, he said. PPG’s North American chlor-alkali operating rates have declined from 91 percent in September to a percentage around the mid to upper 70s currently.
PPG: BRINGING INNOVATION TO THE SURFACE.(TM)
PPG Industries' vision is to continue to be the world’s leading coatings and specialty products company. Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in more than 60 countries around the world. Sales in 2010 were $13.4 billion. PPG shares are traded on the New York Stock Exchange (symbol:PPG). For more information, visit www.ppg.com.
Bringing innovation to the surface is a trademark of PPG Industries Ohio, Inc.
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Contact:
Jeremy Neuhart
PPG Corporate Communications
412-434-3046
neuhart@ppg.com
Investors:
Vince Morales
PPG Investor Relations
412-434-3740
vmorales@ppg.com