MIRA INFORM REPORT

 

 

Report Date :

13.11.2013

 

IDENTIFICATION DETAILS

 

Name :

PPG INDUSTRIES, INC.

 

 

Registered Office :

One PPG Place, Pittsburgh, PA, 15272-0001, Allegheny County

 

 

Country :

United States

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

24.08.1883

 

 

Legal Form :

Public Parent

 

 

Line of Business :

Subject is a global supplier of protective and decorative coatings

 

 

No. of Employees :

39,200

 

 

RATING & COMMENTS

 

MIRAs Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Good

 

 

Payment Behaviour :

No complaints

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List March 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

United States

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

UNITED STATES - ECONOMIC OVERVIEW

 

The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $49,800. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, in October 2008 the US Congress established a $700 billion Troubled Asset Relief Program (TARP). The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012 the federal government reduced the growth of spending and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2011, the direct costs of the wars totaled nearly $900 billion, according to US government figures. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries. In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that will extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight. In December 2012, the Federal Reserve Board announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short term rates near zero until unemployment drops to 6.5% from the December rate of 7.8%, or until inflation rises above 2.5%. Long-term problems include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits - including significant budget shortages for state governments

Source : CIA

Company name and address

 

PPG Industries, Inc.

 

One PPG Place

 

 

Pittsburgh, PA 15272-0001

United States

 

Map

 

Tel:

412-434-3131

Fax:

412-434-2571

 

www.ppg.com

 

Employees:

39,200

Company Type:

Public Parent

Corporate Family:

698 Companies

Traded:

New York Stock Exchange:

PPG

Incorporation Date:

24-Aug-1883

Auditor:

Deloitte & Touche LLP

 

 

 

 

 

 

 

 

Fiscal Year End:

31-Dec-2012

Reporting Currency:

US Dollar

Annual Sales:

15,200.0  1

Net Income:

941.0

Total Assets:

15,878.0  2

Market Value:

25,118.9

 

(18-Oct-2013)

 

 

 

 

 

 

 

 

 

Business Description

 

 

PPG Industries, Inc. (PPG) is a global supplier of protective and decorative coatings. PPG operates in six business segments. The Performance Coatings, Industrial Coatings and Architectural Coatings-EMEA segments supply protective and decorative finishes for customers in a range of end use markets, including industrial equipment, appliances and packaging; factory-finished aluminum extrusions and steel and aluminum coils; marine and aircraft equipment; automotive original equipment; and other industrial and consumer products. The Optical and Specialty Materials segment consist of the optical products and silicas businesses. It is a producer and supplier of basic chemicals. Glass segment produces flat glass and continuous-strand fiber glass. The Glass business segment consists of the flat glass and fiber glass businesses. In January 2013, the combined company formed by uniting Georgia Gulf with PPG's former commodity chemicals business is named Axiall Corporation. For the nine months ended 30 September 2013, PPG Industries, Inc. revenues decreased 1% to $11.41B. Net income before extraordinary items increased 9% to $780M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income reflects Performance Coatings segment income increase from $203M to $427M, Industrial Coatings segment income increase from $153M to $369M.

 

 

 

Industry

 

 

Industry

Paint, Coating, and Adhesive Manufacturing

ANZSIC 2006:

1916 - Paint and Coatings Manufacturing

ISIC Rev 4:

2022 - Manufacture of paints, varnishes and similar coatings, printing ink and mastics

NACE Rev 2:

2030 - Manufacture of paints, varnishes and similar coatings, printing ink and mastics

NAICS 2012:

32551 - Paint and Coating Manufacturing

UK SIC 2007:

20301 - Manufacture of paints, varnishes and similar coatings, mastics and sealants

US SIC 1987:

2851 - Paints, Varnishes, Lacquers, Enamels, and Allied Products

 

 

Key Executives   (Emails Available)

 

 

 

Name

Title

 

Charles E. Bunch

Chairman And Chief Executive Officer

 

David B. Navikas

Senior Vice President of Strategic Planning and Corporate Development

 

Jeffrey C. Davies

Vice President, Corporate Development

 

Anne Foulkes

Assistant General Counsel and Corporate Secretary

 

Richard C. Elias

Senior Vice President - Optical and Specialty Materials

 

 

Significant Developments

 

 

Topic

#*

Most Recent Headline

Date

Spin-offs

1

PPG Industries Inc Announces Final Proration Factor Of 14.986286% For Shares Tendered In Exchange Offer

1-Feb-2013

Mergers & Acquisitions

5

PPG Industries Inc To Acquire Certain Assets Of Deft Incorporated

11-Apr-2013

Divestitures

1

PPG Industries Inc Announces Agreement To Divest Ownership Interest In Transitions Optical Joint Venture To Essilor International SA

29-Jul-2013

Officer Changes

2

PPG Industries Inc Announces Executive Appointments

19-Jul-2013

Strategic Combinations

3

Argex Titanium Inc Announces Purchase Agreement With PPG Industries Inc

27-Jun-2013

 

News

 

 

Title

Date

Pale Yellow Named 2014 Color of the Year by PPG Pittsburgh Paints
Kitchen and Bath Business (258 Words)

8-Nov-2013

Allnex's Plant in Malaysia Recognized for Environmentalism, Momentive Teams with Kanoria on Phenolics, BASF Intermediates Chooses NA Representatives
Special Chem 4 Coatings (2886 Words)

8-Nov-2013

Patterson Named PPG Flat Glass Sales Manager
Ceramic Industry (126 Words)

8-Nov-2013

What a Tweet Valuation!
The Aleph Blog (1214 Words)

8-Nov-2013

USPTO ISSUES TRADEMARK: COLOR ACCURATE
U.S. Fed News (96 Words)

8-Nov-2013

Yonhap: White, Gray, Black Dominate Car Colors In S. Korea
World News Connection (572 Words)

7-Nov-2013

 

 

 

Financial Summary

 

 

As of 30-Sep-2013

Key Ratios

Company

Industry

Sales 5 Year Growth

4.46

6.26

Net Profit Margin (TTM) %

7.49

10.56

 

Stock Snapshot

 

 

Traded: New York Stock Exchange: PPG

 

As of 18-Oct-2013

   Financials in: USD

Recent Price

175.77

 

EPS

8.35

52 Week High

176.58

 

Price/Sales

1.65

52 Week Low

113.70

 

Dividend Rate

2.44

Avg. Volume (mil)

0.67

 

Price/Earnings

24.25

Market Value (mil)

25,118.90

 

Price/Book

6.64

 

 

 

Beta

1.43

 

Price % Change

Rel S&P 500%

4 Week

5.71%

3.62%

13 Week

10.44%

7.12%

52 Week

47.59%

23.30%

Year to Date

29.86%

6.16%

 

Source: Reuters

2 Year Weekly End Price & Volume

>> Stock Report

 

1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1

2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1

 

 

Corporate Overview

 

PPG Industries, Inc.

 

Location
One PPG Place
Pittsburgh, PA, 15272-0001
Allegheny County
United States

 

Tel:

412-434-3131

Fax:

412-434-2571

 

www.ppg.com

Quote Symbol - Exchange

PPG - New York Stock Exchange

Sales USD(mil):

15,200.0

Assets USD(mil):

15,878.0

Employees:

39,200

Fiscal Year End:

31-Dec-2012

 

 

 

Industry:

Chemical Manufacturing

Incorporation Date:

24-Aug-1883

Company Type:

Public Parent

Quoted Status:

Quoted

 

Chairman And Chief Executive Officer:

Charles E. Bunch

 

Industry Codes

 

ANZSIC 2006 Codes:

1916

-

Paint and Coatings Manufacturing

2411

-

Photographic, Optical and Ophthalmic Equipment Manufacturing

1813

-

Basic Inorganic Chemical Manufacturing

2010

-

Glass and Glass Product Manufacturing

3323

-

Industrial and Agricultural Chemical Product Wholesaling

1811

-

Industrial Gas Manufacturing

3491

-

Professional and Scientific Goods Wholesaling

1812

-

Basic Organic Chemical Manufacturing

 

ISIC Rev 4 Codes:

2022

-

Manufacture of paints, varnishes and similar coatings, printing ink and mastics

3250

-

Manufacture of medical and dental instruments and supplies

2310

-

Manufacture of glass and glass products

2011

-

Manufacture of basic chemicals

4669

-

Wholesale of waste and scrap and other products n.e.c.

4649

-

Wholesale of other household goods

 

NACE Rev 2 Codes:

2030

-

Manufacture of paints, varnishes and similar coatings, printing ink and mastics

2013

-

Manufacture of other inorganic basic chemicals

4675

-

Wholesale of chemical products

4646

-

Wholesale of pharmaceutical goods

3250

-

Manufacture of medical and dental instruments and supplies

2313

-

Manufacture of hollow glass

2311

-

Manufacture of flat glass

2014

-

Manufacture of other organic basic chemicals

 

NAICS 2012 Codes:

32551

-

Paint and Coating Manufacturing

327211

-

Flat Glass Manufacturing

325180

-

Other Basic Inorganic Chemical Manufacturing

424690

-

Other Chemical and Allied Products Merchant Wholesalers

325199

-

All Other Basic Organic Chemical Manufacturing

339115

-

Ophthalmic Goods Manufacturing

423460

-

Ophthalmic Goods Merchant Wholesalers

327212

-

Other Pressed and Blown Glass and Glassware Manufacturing

 

US SIC 1987:

2851

-

Paints, Varnishes, Lacquers, Enamels, and Allied Products

3211

-

Flat Glass

5048

-

Ophthalmic Goods

2869

-

Industrial Organic Chemicals, Not Elsewhere Classified

3851

-

Ophthalmic Goods

2819

-

Industrial Inorganic Chemicals, Not Elsewhere Classified

2812

-

Alkalies and Chlorine

5169

-

Chemicals and Allied Products, Not Elsewhere Classified

3229

-

Pressed and Blown Glass and Glassware, Not Elsewhere Classified

 

UK SIC 2007:

20301

-

Manufacture of paints, varnishes and similar coatings, mastics and sealants

2313

-

Manufacture of hollow glass

4675

-

Wholesale of chemical products

4646

-

Wholesale of pharmaceutical goods

2311

-

Manufacture of flat glass

3250

-

Manufacture of medical and dental instruments and supplies

2013

-

Manufacture of other inorganic basic chemicals

2014

-

Manufacture of other organic basic chemicals

Business Description

PPG Industries, Inc. (PPG), incorporated on August 24, 1883, is a global supplier of protective and decorative coatings. PPG operates in six business segments: Performance Coatings, Industrial Coatings, Architectural Coatings-EMEA (Europe, Middle East and Africa), Optical and Specialty Materials, Commodity Chemicals and Glass. The Performance Coatings, Industrial Coatings and Architectural Coatings- EMEA segments supply protective and decorative finishes for customers in a range of end use markets, including industrial equipment, appliances and packaging; factory-finished aluminum extrusions and steel and aluminum coils; marine and aircraft equipment; automotive original equipment; and other industrial and consumer products. The Optical and Specialty Materials segment consist of the optical products and silicas businesses. PPG is a producer and supplier of basic chemicals. Glass segment produces flat glass and continuous-strand fiber glass. The Glass business segment consists of the flat glass and fiber glass businesses. In June 2011, it acquired Ducol Coatings South Africa (PTY) Ltd. On January 5, 2012, PPG completed the purchase of European coatings company Dyrup A/S from its owner, Monberg & Thorsen. In January 2012, PPG completed the purchase of the coatings businesses of Colpisa Colombiana de Pinturas and its affiliate, Colpisa Equador. In December 2012, the Company acquired Spraylat Corp. In January 2013, the combined company formed by uniting Georgia Gulf with PPG's former commodity chemicals business is named Axiall Corporation.

Performance Coatings, Industrial Coatings and Architectural Coatings-EMEA

The Performance Coatings, Industrial Coatings and Architectural Coatings-EMEA segments supplies finishes to the automotive original equipment market (OEM), PPG supplies refinishes to the automotive aftermarket. PPG also serves commercial and residential new build and maintenance markets by supplying coatings to painting and maintenance contractors and directly to consumers for decoration and maintenance. The Performance Coatings reportable segment includes the refinish, aerospace, protective and marine and architectural-Americas and Asia Pacific coatings businesses. The refinish coatings business supplies coatings products for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings for a range of markets and specialty coatings for signs. These products are sold primarily through independent distributors. The aerospace coatings business supplies sealants, coatings, technical cleaners and transparencies for commercial, military, regional jet and general aviation aircraft and transparent armor for military land vehicles. PPG supplies products to aircraft manufacturers and maintenance and aftermarket customers worldwide both on a direct basis and through a Company-owned distribution network. The protective and marine coatings business supplies coatings and finishes for the protection of metals and structures to metal fabricators, heavy duty maintenance contractors and manufacturers of ships, bridges, rail cars and shipping containers. These products are sold through the Company-owned architectural coatings stores, independent distributors and directly to customers.

The architectural coatings-Americas and Asia Pacific business primarily produces coatings used by painting and maintenance contractors and by consumers for decoration and maintenance of residential and commercial building structures. These coatings are sold under a number of brands. Architectural coatings-Americas and Asia Pacific products are sold through a combination of Company-owned stores, home centers, paint dealers, and independent distributors and directly to customers. The architectural coatings-Americas and Asia Pacific business operates about 400 Company-owned stores in North America and about 40 Company-owned stores in Australia. The Industrial Coatings segment consists of the automotive OEM, industrial and packaging coatings businesses. Industrial, automotive OEM and packaging coatings are formulated specifically for the customers’ needs and application methods. The industrial and automotive OEM coatings businesses sell directly to a variety of manufacturing companies. PPG also supplies adhesives and sealants for the automotive industry and metal pretreatments and related chemicals for industrial and automotive applications. PPG has established alliances with Kansai Paint, Helios Group and Asian Paints Ltd. to serve certain automotive original equipment manufacturers in various regions of the world. PPG owns a 60% interest in PPG Kansai Finishes to serve Japanese-based automotive OEM customers in North America and Europe. PPG owns a 60% interest in PPG Helios Ltd. to serve Russian-based automotive OEM customers in Russia and the Ukraine. PPG and Asian Paints currently each own a 50% interest in Asian PPG Paints to serve global and domestic-based automotive OEM customers in India. The packaging coatings business supplies coatings and inks to the manufacturers of aerosol, food and beverage containers. The Architectural Coatings-EMEA business supplies a variety of coatings under a number of brands and purchased sundries to painting contractors and consumers in Europe, the Middle East and Africa. Architectural Coatings -EMEA products are sold through a combination of about 650 Company-owned stores, home centers, paint dealers, and independent distributors and directly to customers.

The Company competes with Akzo Nobel N.V., BASF Corporation, E.I. duPont de Nemours and Company, Hempel A/S, the Jotun Group, Masco Corporation, the Sherwin-Williams Company, Valspar Corporation, Nippon Paint, Materis Paints and GKN plc.

Optical and Specialty Materials

The primary Optical and Specialty Materials products are Transitions lenses, optical lens materials and sunlenses; amorphous precipitated silicas for tire, battery separator and other end-use markets; and Teslin substrate used, in such applications as radio frequency identification (RFID) tags and labels, E-passports, drivers’ licenses and identification cards. Transitions lenses are processed and distributed by PPG’s 51%-owned joint venture with Essilor International.

The Company competes with Vision-Ease Lens, Carl Zeiss AG, Corning, Inc., Hoya Corporation, Mitsui Chemicals, Inc., Rhodia, S.A., J.M. Huber and Evonik Industries, A.G.

Commodity Chemicals

The Commodity Chemicals segment produces chlor-alkali and derivative products, including chlorine, caustic soda, vinyl chloride monomer, chlorinated solvents, calcium hypochlorite, ethylene dichloride, hydrochloric acid and phosgene derivatives. Most of these products are sold directly to manufacturing companies in the chemical processing, plastics, including polyvinyl chloride (PVC), paper, minerals, metals and water treatment industries.

The Company competes with The Dow Chemical Company, Formosa Plastics Corporation, U.S.A., Georgia Gulf Corporation, Occidental Chemical Corporation, Olin Corporation, Shintech, Inc and Westlake Chemical Corporation.

Glass

PPG is a producer of flat glass in North America and a global producer of continuous-strand fiber glass. PPG’s markets are commercial and residential construction and the wind energy, energy infrastructure, transportation and electronics industries. Most glass products are sold directly to manufacturing companies. PPG manufactures flat glass by the float process and fiber glass by the continuous-strand process.

The Company competes with Asahi Glass Company, Cardinal Glass Industries, Guardian Industries, NSG Pilkington, Owens Corning-Vetrotex, Jushi Group, Johns Manville Corporation, CPIC Fiberglass, AGY, NEG, 3B and Taishan Fiberglass

 

More Business Descriptions

PPG Industries, Inc. (PPG) is a global supplier of protective and decorative coatings. PPG operates in six business segments. The Performance Coatings, Industrial Coatings and Architectural Coatings-EMEA segments supply protective and decorative finishes for customers in a range of end use markets, including industrial equipment, appliances and packaging; factory-finished aluminum extrusions and steel and aluminum coils; marine and aircraft equipment; automotive original equipment; and other industrial and consumer products. The Optical and Specialty Materials segment consist of the optical products and silicas businesses. It is a producer and supplier of basic chemicals. Glass segment produces flat glass and continuous-strand fiber glass. The Glass business segment consists of the flat glass and fiber glass businesses. In January 2013, the combined company formed by uniting Georgia Gulf with PPG's former commodity chemicals business is named Axiall Corporation. For the nine months ended 30 September 2013, PPG Industries, Inc. revenues decreased 1% to $11.41B. Net income before extraordinary items increased 9% to $780M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income reflects Performance Coatings segment income increase from $203M to $427M, Industrial Coatings segment income increase from $153M to $369M.

 

Paints, Flat Glass, Auto & Aircraft Glass, Fiberglass & Chemicals Mfr & Supplier

 

Establishments primarily engaged in manufacturing paints (in paste and ready-mixed form); varnishes; lacquers; enamels and shellac; putties, wood fillers, and sealers; paint and varnish removers; paint brush cleaners; and allied paint products.

 

PPG Industries, Inc. (PPG) manufactures and markets coatings and specialty products and services. It provides a wide variety of products and services to customers in consumer products, construction, industrial and transportation markets and after markets. PPG owns manufacturing facilities and affiliates in over 60 countries across the world. The company conducts its business operations through six segments namely, Performance Coatings; Industrial Coatings; Architectural Coatings EMEA (Europe, Middle East and Africa); Optical and Specialty Materials, Commodity Chemicals and Glass. The Performance Coatings segment comprises aerospace, refinish and protective and marine coatings businesses. It also includes architectural coatings businesses in the Americas and Asia Pacific. In refinish coatings business, it supplies products for automotive and fleet repair and refurbishing and light industrial coatings for various markets. The aerospace coatings business provides coatings, sealants, paint strippers, technical cleaners, transparent armor and transparencies for commercial, military, general aviation aircraft and regional jet. The protective and marine coatings business offers coatings and finishes for protection of metals and structures to steel and metal fabricators; manufacturers of ships, rail cars and shipping containers; and heavy duty maintenance contractors. It markets products through the company’s own stores, independent distributors, home centers and paint dealers. The segment’s key manufacturing and distribution facilities are located at Clayton, Australia; Delaware, Ohio, the US; Dover, Delaware, the US; Huntsville, Alaska, the US; Kunshan, China; Stowmarket, the UK; and Sylmar, California, the US. For the fiscal year ended 2012, the Performance Coatings segment accounted for 32.3% of the company’s total revenue.Industrial Coatings segment includes industrial, automotive and packaging coatings businesses. In the automotive and industrial coatings business, the company offers adhesives, sealants to the automotive industry. It also provides metal pretreatments and related chemicals for industrial and automotive applications. The packaging coatings business supplies coatings and inks for food, beverages and aerosol containers for consumer products. The key manufacturing and distribution facilities of the segment are located in Cieszyn, Poland; Cleveland, Ohio, the US; Oak Creek, Wisconsin, the US; Tianjin, China; Quattordio, Italy; San Juan del Rio, Mexico; Sumare, Brazil and Busan, South Korea. For the fiscal year ended 2012, the Industrial Coatings segment accounted for 28.8% of the company’s total revenue.The Architectural Coatings EMEA business segment of the company offers coatings to painting contractors and consumers in Europe, Middle East and Africa. The key manufacturing and distribution centers of the segment are located in Moreuil, France; Ruitz, France; Budapest, Hungary; Amsterdam, Netherlands; Wroclaw, Poland; and Birstall, the UK. The segment markets its products through a combination of 700 company-owned stores, independent distributors, home centers, paint dealers, and directly to customers. In 2012, PPG acquired the North American architectural coatings business of Akzo Nobel N. Through the acquisition the company also acquired number of leading brands and approximately 600 paint stores of Akzo Nobel N in the US, Canada and the Caribbean. For the fiscal year ended 2012, the Architectural Coatings segment accounted for 14.1% of the company’s total revenue.PPG’s Optical and Specialty Materials segment comprises optical products and silica businesses. The products offered include sunlenses, transitions lenses, polarized film and optical materials; battery separator, amorphous precipitated silicas for tire and other end-use markets; and teslin synthetic printing sheet for waterproof labels, e-passports, identification cards and drivers’ licenses. The segment’s manufacturing and distribution facilities are located in Barberton, Ohio, the US; Bangkok, Thailand; Lake Charles, Louisiana, the US; and Manila, Philippines. For the fiscal year ended 2012, the Optical and Specialty Materials segment accounted for 8% of the company’s total revenue.The Commodity Chemicals segment, manufactures chlor-alkali and derivative products such as caustic, chlorine, soda, vinyl chloride monomer, ethylene dichloride, chlorinated benzenes, calcium hypochlorite, chlorinated solvents, and phosgene derivatives. Its manufacturing and distribution facilities are located in Lake Charles, Louisiana, the US; and Natrium, West Virginia, the US. In January, 2013, the company seperated its commodity chemicals business and merged the subsidiary holding this business with a subsidiary of Georgia Gulf. For the fiscal year ended 2012, the Commodity Chemicals segment accounted for 11.1% of the company’s total revenue. The Glass segment includes flat glass and fiber glass businesses. The products cater to commercial and residential construction, transportation, wind energy, energy infrastructure and electronics industries. The segment’s manufacturing and distribution facilities are located in Carlisle, Pennsylvania, the US; Hoogezand, Netherlands; Shelby, North Carolina, the US, and Wichita Falls, Texas, the US. For the fiscal year ended 2012, the Glass segment accounted for 6.8% of the company’s total revenue. The company owns and operates several research and development facilities. PPG’s manufacturing facilities, R&D centers, sales offices and distribution centers are spread across several countries in the world. The company has 124 manufacturing facilities in 44 countries. For the fiscal year ended December, 2012, the company spent 3% of its revenue towards research and development activities.Geographically, the company operates in three regions, namely, the Americas which comprises the US and Other Americas; Europe, Middle East and Africa (EMEA); and Asia Pacific. For the fiscal year ended 2012, the US accounted for 56.8% of the company's total segment revenue, followed by EMEA with 30%, Asia Pacific with 16.8% and Other Americas with 5.3% revenue. In July 2013, Essilor International, entered into an agreement to acquire 51% joint venture stake in Transitions Optical, Inc., a provider of photochromic lenses to optical manufacturers, from the company. In May, 2013, the company started manufacturing protective and marine coatings (PMC) at its facility in Ostrow Wielkopolski, Poland. In the same month, the company sold its 50-percent interest in the PPG-Devold fiber glass joint venture to Hexagon Devold, a wholly-owned subsidiary of Hexagon Composites. PPG will continue to manufacture fiber glass material for the wind energy industry. In April, 2013, the company opened a new automotive OEM (original equipment manufacturer) coatings development and application center in Tianjin, China. In the same month, the company completed two acquisitions which include acquisition of akzonobel North American architectural coatings business and Deft Incorporation. In March, 2013, the company launched Tribid lenses in the US at Vision Expo. East event

 

PPG Industries, Inc. (PPG) is a chemical manufacturing company. It manufactures and markets coatings and specialty products. The company provides protective and decorative coatings and finishes to customers in construction, consumer products, industrial and transportation and after markets. It also offers chlor-alkali and derivatives, optical products, fiber glass and precipitated silica. PPG sells its products through its own stores, home centers and independent dealers. The company operates manufacturing facilities, affiliates and subsidiaries in various countries, including Argentina, Brazil, Canada, India, Japan, Taiwan, Thailand, China, England, Australia, Germany, France, the US and Venezuela. PPG is headquartered in Pittsburgh, Pennsylvania, the US. The company intends to expand its market presence. To this end, it entered into various acquisitions which include recent acquisition of akzonobel North American architectural coatings business and Deft Incorporation.The company reported revenues of (U.S. Dollars) USD 15,200.00 million during the fiscal year ended December 2012, an increase of 2.12% over 2011. The operating profit of the company was USD 1,402.00 million during the fiscal year 2012, a decrease of 12.21% from 2011. The net profit of the company was USD 941.00 million during the fiscal year 2012, a decrease of 14.06% from 2011.

 

PPG Industries is a leader in its markets; is a streamlined efficient manufacturer; and operates on the leading edge of new technologies and solutions. It is our vision to continue being the worlds leading coatings and specialty products and services company.

 

PPG Industries is a global supplier of coatings, glass, fiberglass and chemicals. Its coatings are used by customers in the transportation; commercial and residential construction and remodeling; and maintenance, appliance, packaging and industrial markets. The company's glass serves the motor vehicle; commercial and residential construction; industrial; and insurance claims management. Its chemicals are used by pharmaceutical, optical, industrial, and pulp and paper markets. Charles E. Bunch has been the chief executive officer of PPG Industries for more than one year. He has been with the chemical company for over 27 years. Bunch earned a BS degree from Georgetown University, and a MBA from Harvard. PPG Industries has headquarters in Pittsburgh and trades on the New York Stock Exchange under the symbol PPG. The company has more than 45 production facilities in the United States and 108 throughout the world, including subsidiaries, joint ventures and equity affiliates.

 

 

 

 

 

Product Codes

Product Code

Product Description

ZZZ-HC

Parent/Holding company

 

 

 

Brand/Trade Names

Af - Flowers - artificial

Bantam - Brushes - paint, now out of production

Bonded - Brushes - paint, now out of production

Commander - Brushes - paint, now out of production

Corbin - Brushes - paint, now out of production

Diamond Coat - Paints

Extra White - Brushes - paint, now out of production

Famous - Brushes - paint, now out of production

Fidelity - Brushes - paint, now out of production

Glide-A-Mirror - Doors - glass, now out of production

Hestron - Glass products, now out of production

Hulltek - Paints, now out of production

A.L.E. - Paints, now out of production

Alcarez - Adhesives and sealants, now out of production

Barreled Sunlight - Paints, now out of production

Cedar Rez - Adhesives and sealants, now out of production

Conrad - Brushes - paint, now out of production

Coronet - Brushes - paint, now out of production

Duracryl - Coatings

Factory - Brushes - paint, now out of production

Felix - Brushes - paint, now out of production

Finch - Brushes - paint, now out of production

Gutta Percha - Paints, now out of production

Hi-Gard - Recording label

Inovar - Varnishes, now out of production

Lion - Brushes - paint, now out of production

Man Gill Chemical - Chemical preparations

Aircon - Glass products

Barnhide - Paints, now out of production

Bud Nip - Garden equipment

Concept - Paints

Corona - Brushes - paint, now out of production

Diamond Flex - Coatings

Extra Winner - Brushes - paint, now out of production

Felden - Brushes - paint, now out of production

Filly - Brushes - paint, now out of production

Glimmer - Water treating compounds

Heviduty - Brushes - paint, now out of production

Ice Kote - Varnishes

Linwood - Brushes - paint, now out of production

Luminescence - Paints

Mildew-Check - Cleaning preparations - household

Orchard - Brushes - paint, now out of production

Aerolite - Glass - safety

Baltimore Special - Brushes - paint, now out of production

Black Filler - Brushes - paint, now out of production

Colton - Brushes - paint, now out of production

Corbett - Brushes - paint, now out of production

Designacolor - Paints

Estimate Plus - Computer software

Fallon - Brushes - paint

Ferris - Brushes - paint, now out of production

Galvahide - Paints, now out of production

Hercuvit - Glass products, now out of production

Holtite - Brushes - paint, now out of production

Leptyne - Paints

Longstroke - Brushes - paint, now out of production

Metalhide - Paints

Olympic Overcoat - Paints

Pitt-Glaze - Finishing agents

Ppg - Paints

Acoustolight - Paints

Aquaneo - Paints, now out of production

Bay State - Brushes - paint, now out of production

Chemform - Coatings

Consumers - Brushes - paint, now out of production

Cortland - Brushes - paint, now out of production

Dye House - Enamels, now out of production

Fairchild - Brushes - paint, now out of production

Feneshield - Yarn

Flo-On - Paint rollers

Harlequin - Paints

Hide-A-Spray - Paints, now out of production

Inside/Outside - Enamels, now out of production

Lisbon - Brushes - paint, now out of production

Manor Hall - Paints

Oilfield - Brushes - paint, now out of production

Oriole - Brushes - paint, now out of production

Acryli-Clean - Wax removers

Aquapel - Chemical preparations

Bergen - Brushes - paint, now out of production

Chemhoe - Herbicides, now out of production

Conway - Brushes - paint, now out of production

Count - Brushes - paint, now out of production

Elegante - Paints, now out of production

Fairfax - Brushes - paint, now out of production

Fenton - Brushes - paint

Florhide - Enamels, now out of production

Helpful - Brushes - paint, now out of production

Highland - Brushes - paint, now out of production

Intercept - Building materials

Litchfield - Brushes - paint, now out of production

Marathon - Paints

Ok - Brushes - paint, now out of production

P.B.X. - Paints, now out of production

Pittpon - Epoxy coatings, now out of production

Prizmatique - Paints

Rez - Adhesives and sealants

Smite - Herbicides, now out of production

Acrynar - Coatings

Aquapon - Paints

Black Beauty - Brushes - paint, now out of production

Chemic - Enamels, now out of production

Coral - Brushes - paint, now out of production

De Signar - Paints

Enamelhide - Paints, now out of production

Fairlee - Brushes - paint, now out of production

Fenwick - Brushes - paint, now out of production

Forite - Enamels, now out of production

Herculite - Glass products

Hilton - Brushes - paint, now out of production

Intercept - Insulating materials

London - Brushes - paint, now out of production

Maxichop - Glass products

Ok Mikado - Brushes - paint, now out of production

Painthide - Paints, now out of production

Pittsburgh - Paints

Production - Computer peripheral equipment

Rigiduct - Glass - flat, now out of production

Solarban - Glass - flat

Holdfast - Brushes - paint, now out of production

Ironhide - Paints, now out of production

Longlast - Brushes - paint, now out of production

Metaleaf - Paints, now out of production

Olympic - Brushes - paint, now out of production

Performance 10 - Glass products

Poly-Si - Paints

Raybake - Enamels, now out of production

Rio - Brushes - paint, now out of production

Solarbronze - Glass - flat

Spruce - Brushes - paint, now out of production

Sunshade - Glass - flat

Touchmix - Computer hardware

Vernon - Brushes - paint, now out of production

Waterspar - Paints, now out of production

Lightning - Brushes - paint, now out of production

Lowell - Brushes - paint, now out of production

Midasnet - Computer peripheral equipment

Olympic Stain - Paints

Pittabs - Water treating compounds

Ppg Aircraft Products: We Build Confidence - Air transportation

Raycron - Paints, now out of production

Satinhide - Enamels

Solargray - Glass - flat

Stafford - Brushes - paint, now out of production

Sustain - Swimming pools

Truform - Paints

Vertiglas - Glass - flat, now out of production

Webite - Enamels, now out of production

Mpm - Glass products

Oregon - Brushes - paint, now out of production

Pittcomatic - Glass - flat, now out of production

Ppg: We Build Confidence - Motor vehicle parts and accessories

Regal - Brushes - paint, now out of production

Selectron - Paints, now out of production

Solextra - Windshields - glass

Steel Pak - Metals

Tephram - Fibers - acrylic

Two Star - Paint removers, now out of production

Visenza - Lenses - optical, now out of production

Pittchlor - Disinfectants

Ppg High Fidelity - Mirrors

Red Stripe - Brushes - paint, now out of production

Satinprime - Paints, now out of production

Solex - Glass - flat

Stanley - Brushes - paint, now out of production

Syn-Amel - Enamels, now out of production

Twindow - Glass - window

Vesta - Brushes - paint

Zetamat - Glass products

Pitthane - Paints

Prist - Fuel additives

Regena - Brushes - paint, now out of production

Silhouette - Doors - wood, now out of production

Spandrelite - Glass - flat

Steelbound - Brushes - paint, now out of production

The Management Control Series - Computer software

Valor - Brushes - paint, now out of production

Walflat - Paints, now out of production

Raybake Plastox - Enamels, now out of production

Safe And Sound - Windshields - glass

Solarcool - Glass products

Squeegee - Paints, now out of production

Surface Seal - Detergents

Trim-Bond - Motor vehicle parts and accessories

Verona - Brushes - paint, now out of production

Weatherpane - Windows - storm, now out of production

Spectraclad - Glass - flat

Sun-Proof - Paints

Thermax - Paints

Velvecron - Paints

Wallhide - Paints, now out of production

Speedhide - Paints

Sungate - Glass products

Titanic - Paints, now out of production

Ventnor - Brushes - paint, now out of production

Watchguard - Glass - flat, now out of production

Aerohide - Paints, now out of production

Autoprime - Primers

Black Empire - Brushes - paint, now out of production

Clay Rex - Adhesives and sealants, now out of production

Corashield - Paints

Delfleet - Paints

Envirocron - Paints

Fairway - Brushes - paint

Fergus - Brushes - paint, now out of production

Funguside - Paints, now out of production

Herculite K - Glass - safety

Financial Data

Financials in:

USD(mil)

 

Revenue:

15,200.0

Net Income:

941.0

Assets:

15,878.0

Long Term Debt:

3,368.0

 

Total Liabilities:

11,815.0

 

Working Capital:

2.0

 

 

 

Date of Financial Data:

31-Dec-2012

 

1 Year Growth

2.1%

-14.1%

10.4%

Market Data

Quote Symbol:

PPG

Exchange:

New York Stock Exchange

Currency:

USD

Stock Price:

175.8

Stock Price Date:

10-18-2013

52 Week Price Change %:

47.6

Market Value (mil):

25,118,900.0

 

SEDOL:

2698470

ISIN:

US6935061076

 

Equity and Dept Distribution:

Common Stock $1.66 2/3 Par, 03/11, 600M auth., 158,152,134 o/s, net of shs. Treas. @ $4.96B. Insiders own 0.30%. PO:5/72, 2M shares @$45 1/4 by First Boston Corp.6/94, 2-for-1 stock split.

 

Key Corporate Relationships

Auditor:

Deloitte & Touche LLP

Bank:

Integrated Composites Inc, Lubrizol Advanced Materials Inc, Noveon Inc, Caliber Glass Llc, Hi Tech Mold & Engineering Inc, Macquarie Equipment Finance Llc, Somerset Leasing Corporation Xvii, Kensington Capital Corp, Rbs Asset Finance, Citibank National Association, Hewlett Packard Financial Services, Key Equipment Finance Inc, Deutsche Bank Ag Acting By & Through Its, First Eagle Bank, At & T Capital Services Inc, Dupont Performance Coatings Llc, Exxonmobil Chemical Co, General Electric Capital

 

Auditor:

Deloitte & Touche LLP

 

 

 

 

 

 

Additional Infomation

ABI Number:

007530124

 

 

Fortune 1000 Rank:

182

 

 

 

 

Key Organizational Changes

in February. Glass segment earnings declined versus the prior year on weaker fiber glass results, Bunch said. Bunch added, “Strategically, we completed the acquisition of the AkzoNobel North American architectural coatings business April 1. The acquired business, with 2012 sales of $1.5 billion, more than doubles our business serving the construction and maintenance markets in the region. Since the acquisition announcement in December 2012, teams have been working diligently to ensure the integration is seamless for customers and successful in creating value for our shareholders.

 

PPG will continue to manufacture fiber glass material for the wind energy industry. In April, 2013, the company opened a new automotive OEM (original equipment manufacturer) coatings development and application center in Tianjin, China. In the same month, the company completed two acquisitions which include acquisition of akzonobel North American architectural coatings business and Deft Incorporation. In March, 2013, the company launched Tribid lenses in the US at Vision Expo. East eventGlobalData uses a range of research techniques to gather and verify its information and analysis.

 

Such market scenario would hamper the company’s growth prospects as well as investor’s confidence.Key AcquisitionsStrategic acquisitions offer a strong growth opportunity for the company, especially when it is entering new markets or launching new products or services. In April, 2013. the company completed two acquisitions which include acquisition of akzonobel North American architectural coatings business and Deft Incorporation. In December, 2012, the company acquired certain assets of Spraylat Corp. In the same month, the company acquired North American architectural coatings business of AkzoNobel, N.V. In July, 2012, the company signed a distribution agreement with Hi-Temp Coatings Technology Co. for select HI-TEMP(R) branded products.

 

The company spent approximately $140 million on share repurchases, primarily in the months of February and March following the separation of PPG’s commodity chemicals business. The company also repaid $600 million of term debt that matured near the end of the first quarter. The payment on April 1, 2013, of about $950 million, including estimated closing adjustments, for the acquisition of the AkzoNobel architectural coatings business will be reflected in the company’s second quarter financial statements. As announced January 28, 2013, the company completed the separation of its commodity chemicals business and subsequent merger with a subsidiary of Georgia Gulf Corporation into a combined company now named Axiall Corporation. The merger closed following the expiration of the exchange offer under which PPG reduced its shares outstanding by approximately 10.8 million shares, or about 7 percent.

 

Partnerships

 

In the same month, the company established a partnership with the Geneva-based Paint a Smile Foundation. According to the agreement, the company will support and promote the non-profit organisation’s work for hospitals and other care facilities. In April, 2012, the company entered into a technical collaboration agreement with Montreal-based Argex Mining Inc. According to the agreement, Argex Mining Inc. will utilize PPG’s existing technology and know-how to manufacture titanium dioxide (TiO2) pigment for paints and coatings applications. In January, 2012, the company and its subsidiary, PPG Industries Colombia acquired the coatings businesses of Colpisa Colombiana de Pinturas and its affiliates, including Colpisa Ecuador. Also, In June 2011, the company acquired the business of Ducol Coatings South Africa (PTY) Ltd that serves as an importer and distributor of PPG’s automotive refinish products in South Africa.

 

Sales and Distribution

 

“An important factor to our excellent overall coatings results was higher sales in businesses such as automotive OEM (original equipment manufacturer) coatings, automotive refinish and aerospace,” Bunch added. “For our non-coatings segments, sales and earnings were up modestly in Optical and Specialty Materials versus record prior-year results, and Glass earnings declined as market conditions for both glass businesses remained challenging. “Importantly, we finalized our acquisition of the AkzoNobel North American architectural coatings business on April 1, and we are very pleased with the results in the quarter,” Bunch said. “The acquired business had sales of about $475 million in the quarter and delivered a mid-single-digit percentage earnings return on sales, which was slightly ahead of our target. We are in the early stages of integration and still have a considerable amount of work to do, including executing our recently approved restructuring program.

 

 

PPG Industries, Inc.

 

 

Strengths/Weaknesses (SWOT)

 

 

Helpful
to achieving the objective

Harmful
to achieving the objective

Internal Origin
(attributes of the organization)

Strengths

        Established Global Presence

        Diversified and Broad Product Lines

Weaknesses

        Declining Performance

External Origin
(attributes of the environment)

Opportunities

        New Product Launches

        Key Acquisitions

        Growth Opportunities in Emerging Markets

Threats

        Raw Material Procurement Risks

        Intense Competition

        Challenge of Environmental Regulations

 

Overview

PPG Industries, Inc. (PPG) is one of the leading providers of coatings and specialty products. The company is a global supplier of paints, coatings, specialty materials, optical products, chemicals, glass and fiber glass. Its operations are spread across 44 countries with more than 124 manufacturing facilities and equity affiliates throughout the world. Diverse product portfolio and global presence are the key strengths of the company. It has growth opportunities through acquisitions and emerging markets. However, the company could be affected by the stringent environmental regulations governing the global chemical industry.

Strengths

Established Global Presence

PPG has managed to minimize the risks arising out of a specific geographical region by spreading the business across the globe. The company’s operations are spread across 60 countries worldwide. Its products are sold in all the major markets such as the US, Canada, Western Europe, Asia, Eastern Europe and Latin America. PPG entered into several collective bargaining agreements globally. Additionally, its manufacturing facilities, research and development centers, sales offices and distribution centers are situated worldwide. It operates 124 manufacturing facilities in around 44 countries. In the EMEA region (Europe, Middle East and Africa), the company has 57 manufacturing facilities in 27 countries followed by the US (32 manufacturing facilities in 17 states), Asia (28 manufacturing facilities in 11 countries) and Other Americas (7 manufacturing facilities in 5 countries). PPG classifies its geographical locations into three regions namely, The Americas, EMEA and Asia. The Americas segment is further classified into the United States and Other Americas. For the fiscal year ended 2012, the US accounted for 56.8% of the company's total segment revenue, followed by EMEA with 30%, Asia Pacific with 16.8% and Other Americas with 5.3% revenue. The company's global presence reduces the negative effects of concentration in a single economy and strengthens its operations throughout the world.

Diversified and Broad Product Lines

Diversified and broad product lines enable PPG to offset cyclical downturns in any one of the product categories and supply to a wide variety of customer segments. PPG’s operating segments are classified into six reportable segments, namely, Performance Coatings, Industrial Coatings, Architectural Coatings, Optical and Specialty Materials, Commodity Chemicals and Glass. The company generated 32.3% of the total company’s revenue in 2012 from Performance Coatings segment, 28.8% from Industrial Coatings segment, 14.1% from Architectural Coatings segment, 8% from Optical and Specialty Materials segment, 11.1% from Commodity Chemicals segment and 6.8% from Glass segment. The company’s products serve customers across industrial, consumer products, transportation, and construction markets and after markets. Performance coatings segment includes sub segments of refinish, aerospace, architectural coatings, protective and marine coatings. Through this segment, PPG provides a variety of protective and decorative coatings, sealants, paint strippers, stains and related chemicals, and transparencies and transparent armor. Its industrial coatings segment includes sub segments of automotive, industrial and packaging coatings. This segment supplies protective and decorative coatings, adhesives, sealants, inks, and metal pretreatment products. Architectural coatings include the sub-segment of the architectural coatings, through which the company provides coatings under a number of brands. Optical and specialty materials include the sub segments of the optical products and silicas. The segment offers products such as transition lenses, sunlenses, optical lens materials, amorphous precipitated silica products and Teslin synthetic printing sheet. Commodity chemicals segment includes the sub-segments of the chlor-alkali and derivatives. Its chlor-alkali and derivative products served are chlorine, caustic soda, chlorinated solvents, vinyl chloride monomer, calcium hypochlorite, ethylene dichloride, hydrochloric acid and phosgene derivatives. The company’s Glass segment comprises performance glazings and fiber glass operating segments. This segment engages in the supply of flat glass and continuous-strand fiber glass products. The broad and diversified product portfolio enables the company to serve a large number of customer segments.

Weaknesses

Declining Performance

PPG’s compounded annual growth rate (CAGR) for revenue was 0.22% for five years from 2008 to 2012. This was below the Chemicals - Specialty sector average* of 10.87%. A lower than sector average* revenue CAGR may indicate that the company has underperformed the average sector growth and lost market share over the last four years. The company's underperformance could be attributed to a weak competitive position or inferior products and services offering or lack of innovative products and services. Such market scenario would hamper the company’s growth prospects as well as investor’s confidence.

Opportunities

New Product Launches

Successful product launches enable the company to grow organically, generate adequate revenue streams and also provide enough opportunities to improve its market share. In March, 2013, the company introduced the third generation of color accurate software named as CPC Color Accurate G3 software. In January, 2013, the company’s commercial coatings group of automotive refinish business launched ALK28-901. It is factory-packaged 2.8 VOC (volatile organic compound) alkyd enamel intended for general industrial use. In the same month, it introduced two new versatile, reduced-gloss clearcoats, D8115 Matte and D8117 Semi-Gloss. In October, 2012, the company's automotive refinish business has launched two new waterborne primer surfacers for the automotive refinish industry, namely, ENVIROBASE(R) High Performance EPW115 Waterborne Speed Prime and AQUABASE Plus P950-5505 Waterborne Primer Surfacer. In August, 2012 the company introduced SUNGATE 600 glass, a multifunctional low-emissivity glass that can enhance the insulating performance of buildings. In January, 2012 the company introduced SUNGATE(R) 600 glass, a passive, low-emissivity glass that is designed to help homes retain furnace and solar heat, especially in cold, northern climates. In December 2011, the company’s introduced a premium, 2.1 VOC (volatile organic compound) air-dry compliant clearcoat as a part of the Nexa Autocolor line of products. The company also launched two high-hiding, yellow urethane resin bases for providing maximized hiding power for varied industrial colors. In November 2011, the performance coatings business introduced ONE coating in the US for protective and marine project applications. It also launched a compact intermix tinting system for AQUACRON water-based resins Furthermore, the company intends to commercial Vantage, a new clear-to-polarized product in the first half of 2012. Other new products include ultra velocity clear coat; low-temperature immersion cleaners for metal surfaces; and tank linings for petrochemical and biofuel storage markets. Such periodic launch of products gives an opportunity for the company to increase its market share.

Key Acquisitions

Strategic acquisitions offer a strong growth opportunity for the company, especially when it is entering new markets or launching new products or services. In April, 2013. the company completed two acquisitions which include acquisition of akzonobel North American architectural coatings business and Deft Incorporation. In December, 2012, the company acquired certain assets of Spraylat Corp. In the same month, the company acquired North American architectural coatings business of AkzoNobel, N.V. In July, 2012, the company signed a distribution agreement with Hi-Temp Coatings Technology Co. for select HI-TEMP(R) branded products. In the same month, the company received the necessary approvals from Indian authorities for expanding its coatings joint venture and also to create a second joint venture with Asian Paints Ltd. (APL), India’s largest coatings company. Financial terms were not disclosed. In June, 2012, the company entered into licensing agreement with Henan Billions Chemicals Co., Ltd. (Billions). According to the agreement, PPG will license some chloride-based technologies to Billions for its titanium dioxide (TiO2) refinement facilities in China. In the same month, the company established a partnership with the Geneva-based Paint a Smile Foundation. According to the agreement, the company will support and promote the non-profit organisation’s work for hospitals and other care facilities. In April, 2012, the company entered into a technical collaboration agreement with Montreal-based Argex Mining Inc. According to the agreement, Argex Mining Inc. will utilize PPG’s existing technology and know-how to manufacture titanium dioxide (TiO2) pigment for paints and coatings applications. In January, 2012, the company and its subsidiary, PPG Industries Colombia acquired the coatings businesses of Colpisa Colombiana de Pinturas and its affiliates, including Colpisa Ecuador. Also, In June 2011, the company acquired the business of Ducol Coatings South Africa (PTY) Ltd that serves as an importer and distributor of PPG’s automotive refinish products in South Africa. In March 2011, the company reached an agreement to acquire Equa-Chlor, Inc., a manufacturer of chlorine, caustic soda and muriatic acid. Through these acquisitions, the company intends to strengthen market position, technical expertise and product portfolio.

Growth Opportunities in Emerging Markets

The company could benefit through its presence in the emerging markets, which have created ample opportunities for the chemical industry over the past decade. Strong growth is expected in the emerging countries of Asia-Pacific, Africa, the Middle East, Eastern Europe and Latin America. Although the economic crisis has dampened the growth of the chemicals industry in the recent past, it continues to grow at a positive rate compared to the developed countries of Europe and North America. According to the China Petroleum and Chemical Industry Federation (CPCIF), the value of chemical industry output is expected to reach $818.4 billion. China is expected to overtake the US as the largest chemical market by 2012. Additionally, Brazil and India markets are expected to witness 7.6% growth in 2012. The company could target India, Brazil and other key markets through its manufacturing bases and offices. Thus, the company could benefit by expanding its presence in these emerging markets.

Threats

Raw Material Procurement Risks

The increasing prices of raw materials could affect the company’s business. Raw material prices constitute a significant part of the production cost of the company. The manufacture of PPG’s products employs key raw materials such as titanium dioxide, solvents and epoxy and other resins in the Coatings businesses. It uses brine and ethylene for the manufacture of its Commodity Chemicals. It’s Optical and Specialty Materials businesses employ raw materials such as lenses, sand and soda ash. Sand, clay and soda ash are the chief raw materials used in the Glass businesses. Most of the PPG’s coatings raw materials are petroleum based. The prices of petrochemical products are influenced by fluctuations in crude oil prices. Competition also limits the option of increasing product prices to compensate for the higher production costs. In addition, the continuous supply of the raw materials could be affected by weather conditions, national emergencies, strikes, governmental controls, natural disasters, supply shortages or other events. Thus, price fluctuations and non-availability of these raw materials may have a material effect on the product costs and the operations of the company.

Intense Competition

Continual technological changes and intense competition in the industry may slow down the company's revenue growth, if it fails to tackle competition effectively. The chemical industry in which the company operates is highly competitive. This industry consists of few large firms with vast global presence and many smaller firms serving local or regional markets. The company competes with some of the world’s largest chemical companies in its principal markets. It also competes with many smaller regional companies. Product development, innovation, quality and technical and customer service are the significant factors essential to develop and sustain a good market position in the industry. The major competitors of the company in Performance Coatings segment include Akzo Nobel NV, BASF Corporation, the DuPont Company, the Sherwin-Williams Company, Valspar Corporation and GKN plc. The company also competes with Akzo Nobel NV, BASF Corporation, the DuPont Company, Valspar Corporation and Nippon Paint in Industrial Coatings segment. In commodity chemicals, the company competes with major manufacturers of chlor-alkali products such as the Dow Chemical Company, Formosa Plastics Corporation, Georgia Gulf Corporation, Olin Corporation, Occidental Chemical Corporation and Shintech, Inc. In Glass segment, PPG competes with producers of flat glass and fiber glass such as Asahi Glass Company, Cardinal Glass Industries, Guardian Industries, NSG Pilkington, Owens Corning-Vetrotex, Jushi Group, Johns Manville Corporation, CPIC Fiberglass, AGY and Taishan Fiberglass. In Architectural Coatings segment, the company competes with Akzo Nobel NV and Materis Paints. Such highly competitive market could adversely affect the company’s profitability, financial position and cash flows if it fails to retain and attract clients and customers.

Challenge of Environmental Regulations

The company could be affected by the environmental regulations governing the global chemical industry. REACH (Registration Evaluation and Authorization of Chemicals), in Europe, is an example of the stringent environmental regulations that impact chemical producers. REACH regulates the products manufactured and marketed in Europe. Phased over a period of 11 years, the regulation mandates all companies to develop and submit dossiers containing datasets about their chemical products and detail their potential impact and risk on environment. This could be a challenge while launching new products as the process is time-consuming and expensive. It may also result in phasing out many existing chemicals from the market, which are regarded as toxic and hazardous. REACH directly applies to over 30,000 different chemical substances that are produced or sold in Europe and its implementation is expected to cost European chemical industry about $3 billion. Other countries too are expected to model their regulations on the principles of REACH. The US has already begun implementing similar regulations with the reform of Toxic Substances Control Act. China has its own version: RoHS (Restriction of Hazardous Substances), which restricts the use of certain chemicals in the market. Such stringent environmental regulations are set to tighten in the coming years, affecting both existing and new products for the company.

 

PPG Industries Inc

Credit Report as of 03/01/2013

 

Location

1 Ppg Pl
Pittsburgh, PA 15272-0001
United States

 

County:

Allegheny

MSA:

Pittsburgh, PA

 

Phone:

412-434-3131

Fax:

412-434-3744

URL:

http://ppg.com

 

 

 

ABI:

007530124

 

Annual Sales:

$15,200,000,000 (USD)

Employees:

39,200

 

Facility Size(ft2):

40,000+

 

Business Type:

Public

Location Type:

Headquarter

 

Ticker:

PPG

Exchange:

NYSE

Primary Line of Business:

SIC:

2851-03 - Paint-Manufacturers

NAICS:

325510 - Paint & Coating Mfg

Secondary Lines of Business:

NAICS:

541613 - Marketing Consulting Svcs

 

524210 - Insurance Agencies & Brokerages

 

444190 - Other Building Material Dealers

 

524292 - Third Party Administration Of Insurance Funds

SICs:

5231-10 - Glass-Auto Plate & Window & Etc

 

6411-10 - Insurance-Claim Processing Services

 

6411-12 - Insurance

 

8742-13 - Marketing Programs & Services

 

9999-66 - Federal Government Contractors

 

 

Years in InfoUSA Database:

7

Table of Contents

 

Profile Links

Similar Businesses in the Area

Closest Neighbors

Disclaimer

External Links

http://ppg.com

OneSource Company Profile

Stock Quote (PPG)

 

 

 

Similar Businesses in the Area *

 

Jamestown Coating Technologies
108 Main St
Jamestown, PA 16134-8510

Poly Solutions
200 Laurel Ave
Gibsonia, PA 15044-6003

Sealmark Corp
480 Galiffa Dr
Donora, PA 15033-1383

Valspar Corp
2001 Tracy St
Pittsburgh, PA 15233-1020

All Coatings Co Inc
510 W Ely St
Alliance, OH 44601-1610

National Polymers
9 Guttman Blvd
Charleroi, PA 15022-1016

Watson Industries Inc
616 Hite Rd
Harwick, PA 15049-8945

PPG Industries Inc
125 Colfax St
Springdale, PA 15144-1506

Valspar Corp
372 Cleveland St
Rochester, PA 15074-1662

Pandalai Coating Co
837 6th Ave
Brackenridge, PA 15014-1040

 

 

 

 

   * 

Similar Businesses are defined as the closest businesses sharing the same six-digit primary SIC code ( 2851-03 - Paint-Manufacturers) regardless of size.

 

Closest Neighbors

 

ATI Allegheny Ludlum Corp
100 River Rd
Brackenridge, PA 15014-1597

Asiago Express
2 Ppg Pl Ste: 12
Pittsburgh, PA 15222-5402

Addison H Gibson Foundation
1 Ppg Pl Ste: 2230
Pittsburgh, PA 15222-5401

Accountemps
120 5th Ave
Pittsburgh, PA 15222-3000

Alan Finegold & Co
6 Ppg Pl Ste: 1150
Pittsburgh, PA 15222-5427

 

 

Disclaimer

Credit.net, a division of infoUSA, has developed a sophisticated computer model to assign credit ratings to most of the 14 million businesses in infoUSA's database. infoUSA's proven model considers information such as the number of employees, years in business, industry stability, census data and other factors to arrive at credit ratings that are sound indicators of ability to pay. It does not factor payment histories as many big companies intentionally "slow pay".

Credit.net’s Credit Rating Scores are indicators of the probable ability to pay. We recommend that these ratings be used primarily as a starting point and should not be the sole factor used in making a credit decision. By necessity, credit decisions must be based upon the credit provider’s policies as applied to each unique transaction. You should obtain additional information from bank and trade references, local credit bureaus, or other sources before extending credit. Credit.net is not a financial advisor and makes no representations or warranties as to the accuracy, timeliness or completeness of the rating codes, and as such will not be responsible for any losses resulting from the use of this information.

The information presented in this report is a direct representation of information used in developing the credit scores and credit limits. Where information differs between Business Browser and Credit.net (e.g. executive names), the user should utilize Business Browser as their primary information source.

 

Corporate Family

Corporate Structure News:

 

PPG Industries, Inc.

PPG Industries, Inc.
Total Corporate Family Members: 698

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

PPG Industries, Inc.

Parent

Pittsburgh, PA

United States

Paint, Coating, and Adhesive Manufacturing

15,200.0

39,200

 

Axiall Corp

Subsidiary

Atlanta, GA

United States

Synthetic Chemical Manufacturing

3,325.8

6,000

 

Royal Building Products

Subsidiary

Woodbridge, ON

Canada

Construction and Hardware Materials Wholesale

1,690.8

7,800

 

Royal Mouldings Ltd.

Subsidiary

Marion, VA

United States

Banking

 

699

 

Royal Mouldings Limited

Branch

Bristol, TN

United States

Construction and Hardware Materials Wholesale

8.2

6

 

Royal Building Products

Subsidiary

Woodbridge, ON

Canada

Rubber and Plastic Product Manufacturing

60.3

250

 

Roytec Vinyl

Branch

Woodbridge, ON

Canada

Rubber and Plastic Product Manufacturing

3.3

11

 

Royal Pipe Systems LTD

Subsidiary

Woodbridge, ON

Canada

Rubber and Plastic Product Manufacturing

 

200

 

Royal Pipe Systems

Branch

Abbotsford, BC

Canada

Rubber and Plastic Product Manufacturing

51.3

100

 

Fabtech Co

Branch

Woodbridge, ON

Canada

Metal Products Manufacturing

19.4

60

 

Royal Pipe Systems

Branch

Surrey, BC

Canada

Rubber and Plastic Product Manufacturing

28.2

55

 

Royal Pipe Systems

Branch

Lanoraie, QC

Canada

Rubber and Plastic Product Manufacturing

10.3

20

 

Royal Pipe Systems

Branch

Woodbridge, ON

Canada

Rubber and Plastic Product Manufacturing

6.2

12

 

Systemes Tuyaux Royal

Branch

Laval, QC

Canada

Rubber and Plastic Product Manufacturing

4.6

9

 

Royal Pipe Systems

Branch

Calgary, AB

Canada

Rubber and Plastic Product Manufacturing

3.0

6

 

Royal Pipe Systems

Branch

Winnipeg, MB

Canada

Rubber and Plastic Product Manufacturing

1.6

3

 

Royal Europa Ltd.

Subsidiary

Polkowice

Poland

Rubber and Plastic Product Manufacturing

 

200

 

Royal Windows & Doors Profiles

Subsidiary

Woodbridge, ON

Canada

Home and Garden Retail

 

150

 

Royal Windows & Doors Profiles

Branch

Woodbridge, ON

Canada

Home and Garden Retail

68.9

201

 

Royal Windows & Doors Profiles

Branch

Saint-Laurent, QC

Canada

Home and Garden Retail

34.2

100

 

Royal Windows & Doors Profiles

Branch

Saint-Hubert, QC

Canada

Home and Garden Retail

33.8

100

 

Royal Windows & Doors Profiles

Branch

Woodbridge, ON

Canada

Home and Garden Retail

5.8

17

 

Royal Windows & Doors Profiles

Branch

Ajax, ON

Canada

Home and Garden Retail

2.4

7

 

Royal Windows & Doors Profiles

Branch

Terrebonne, QC

Canada

Home and Garden Retail

2.4

7

 

Royal Group Mexico S.A. de C.V.

Subsidiary

Altamira, Tamaulipas

Mexico

Synthetic Chemical Manufacturing

 

120

 

Solucor

Subsidiary

Bradford, ON

Canada

Synthetic Chemical Manufacturing

 

100

 

Royal Group Technologies del Sur S.A.

Subsidiary

Buenos Aires

Argentina

Rubber and Plastic Product Manufacturing

 

59

 

Axiall Compound

Subsidiary

Concord, ON

Canada

Synthetic Chemical Manufacturing

 

35

 

Produits Batiment Residential

Subsidiary

Saint-Lambert-De-Lauzon, QC

Canada

Home and Garden Retail

 

20

 

Produits Batiment Residential

Branch

Terrebonne, QC

Canada

Home and Garden Retail

12.6

27

 

Produits Batiment Residential

Branch

Quebec, QC

Canada

Home and Garden Retail

11.6

25

 

Produits Batiment Residential

Branch

Sherbrooke, QC

Canada

Home and Garden Retail

4.0

9

 

Produits Batiment Residential

Branch

Concord, ON

Canada

Home and Garden Retail

3.3

7

 

Produits Batiment Residential

Branch

Saint-Hubert, QC

Canada

Home and Garden Retail

3.2

7

 

Boncor Building Products Inc

Subsidiary

London, ON

Canada

Home and Garden Retail

 

9

 

Boncor Building Products Inc

Branch

Mount Pearl, NL

Canada

Home and Garden Retail

5.1

11

 

Boncor Building Products Inc

Branch

Concord, ON

Canada

Home and Garden Retail

4.6

10

 

Boncor Building Products Inc

Branch

Nepean, ON

Canada

Home and Garden Retail

3.7

8

 

Boncor Building Products Inc

Branch

Ottawa, ON

Canada

Home and Garden Retail

3.3

7

 

Boncor Building Products Inc

Branch

Hamilton, ON

Canada

Home and Garden Retail

3.2

7

 

Boncor Building Products Inc

Branch

Edmonton, AB

Canada

Home and Garden Retail

2.8

6

 

Boncor Building Products Inc

Branch

Barrie, ON

Canada

Home and Garden Retail

2.3

5

 

Boncor Building Products Inc

Branch

St Catharines, ON

Canada

Home and Garden Retail

2.3

5

 

Boncor Building Products Inc

Branch

Thunder Bay, ON

Canada

Home and Garden Retail

1.9

4

 

Boncor Building Products Inc

Branch

Winnipeg, MB

Canada

Home and Garden Retail

1.4

3

 

Georgia Gulf Chemicals & Vinyls, LLC

Subsidiary

Atlanta, GA

United States

Miscellaneous Chemical Manufacturing

 

1,800

 

Axiall Corp

Branch

Plaquemine, LA

United States

Basic Chemical Manufacturing

709.3

300

 

Exterior Portfolio

Subsidiary

Columbus, OH

United States

Rubber and Plastic Product Manufacturing

 

277

 

Axiall Corp

Branch

Aberdeen, MS

United States

Basic Chemical Manufacturing

369.0

210

 

Royal Building Products

Branch

Newbern, TN

United States

Specialty Construction Trade Contractors

24.3

150

 

Royal Building Products

Branch

Milford, IN

United States

Metal Products Manufacturing

28.5

125

 

Axiall Corp

Branch

Pasadena, TX

United States

Chemical Wholesale

328.6

100

 

Axiall Corp

Branch

Hazlehurst, MS

United States

Rubber and Plastic Product Manufacturing

28.0

100

 

Axiall Corp

Branch

Westlake, LA

United States

Basic Chemical Manufacturing

184.4

78

 

Axiall Corp

Branch

Atlanta, GA

United States

Basic Chemical Manufacturing

46.7

78

 

Plastic Trends, Inc.

Subsidiary

Shelby, MI

United States

Rubber and Plastic Product Manufacturing

 

65

 

Axiall Corp

Branch

Madison, MS

United States

Synthetic Chemical Manufacturing

80.0

60

 

Axiall Corp

Branch

Prairie, MS

United States

Basic Chemical Manufacturing

16.0

25

 

Royal Window & Door Prfls 13

Subsidiary

Delmont, PA

United States

Rubber and Plastic Product Manufacturing

 

15

 

Royal Window & Door Prfls 14

Subsidiary

Everett, WA

United States

Rubber and Plastic Product Manufacturing

 

10

 

GG Terminal Management Corporation

Subsidiary

Atlanta, GA

United States

Consulting Services

 

 

 

GGRC Corp.

Subsidiary

Atlanta, GA

United States

Miscellaneous Chemical Manufacturing

 

 

 

Georgia Gulf Europe, ApS

Subsidiary

Atlanta, GA

United States

Basic Chemical Manufacturing

 

 

 

Georgia Gulf Lake Charles, LLC

Subsidiary

Atlanta, GA

United States

Basic Chemical Manufacturing

 

 

 

Great River Oil & Gas Corporation

Subsidiary

Atlanta, GA

United States

Basic Chemical Manufacturing

 

 

 

Taiwan Chlorine Industries Ltd.

Joint Venture

Kaohsiung

Taiwan

Basic Chemical Manufacturing

 

 

 

PPG Canada Inc.

Subsidiary

Mississauga, ON

Canada

Non-Metallic Mineral Product Manufacturing

14.6

2,100

 

PPG Industries Inc

Branch

Shelby, NC

United States

Home and Garden Retail

588.2

1,800

 

PPG Architectural Coatings EMEA

Subsidiary

Uithoorn

Netherlands

Paint, Coating, and Adhesive Manufacturing

 

1,800

 

PPG Architectural Coatings

Subsidiary

Manage

Belgium

Paint, Coating, and Adhesive Manufacturing

 

300

 

PPG Architectural Coatings

Subsidiary

Rueil-Malmaison

France

Paint, Coating, and Adhesive Manufacturing

 

80

 

PPG Industries Inc

Branch

Westlake, LA

United States

Home and Garden Retail

539.2

1,658

 

PPG Industries Australia Pty Ltd

Subsidiary

Clayton, VIC

Australia

Paint, Coating, and Adhesive Manufacturing

347.3

1,245

 

Protec Pty. Ltd.

Subsidiary

Adelaide

Australia

Paint, Coating, and Adhesive Manufacturing

15.5

214

 

PPG Aerospace

Division

Sylmar, CA

United States

Paint, Coating, and Adhesive Manufacturing

 

1,200

 

PPG Aerospace

Branch

Huntsville, AL

United States

Motor Vehicle and Parts Dealers

74.2

600

 

Sierracin Corporation

Subsidiary

Sylmar, CA

United States

Aircraft Engine and Parts Manufacturing

 

600

 

PRC-DeSoto International, Inc.

Subsidiary

Glendale, CA

United States

Paint, Coating, and Adhesive Manufacturing

 

650

 

PPG Aerospace

Branch

Mojave, CA

United States

Motor Vehicle and Parts Dealers

160.4

260

 

PPG Aerospace

Branch

Indianapolis, IN

United States

Motor Vehicle and Parts Dealers

27.0

50

 

PPG Aerospace

Branch

Woodinville, WA

United States

Motor Vehicle and Parts Dealers

25.9

40

 

PPG Aerospace

Branch

Grand Prairie, TX

United States

Motor Vehicle and Parts Dealers

25.0

40

 

PPG Aerospace

Branch

Mt Laurel, NJ

United States

Motor Vehicle and Parts Dealers

13.0

21

 

Dyrup A/S

Subsidiary

Søborg

Denmark

Paint, Coating, and Adhesive Manufacturing

256.0

959

 

Tintas Dyrup SA

Subsidiary

Sacavém, Lisboa

Portugal

Paint, Coating, and Adhesive Manufacturing

42.7

187

 

Dyrup S.A.S.

Subsidiary

Rueil-Malmaison

France

Paint, Coating, and Adhesive Manufacturing

 

149

 

Dyrup GmbH

Subsidiary

Mönchengladbach

Germany

Miscellaneous Wholesale

43.1

100

 

Dyrup Sp. z.o.o.

Subsidiary

Lodz

Poland

Paint, Coating, and Adhesive Manufacturing

 

60

 

Pinturas Dyrup Sa

Subsidiary

Barbera Del Valles, Barcelona

Spain

Paint, Coating, and Adhesive Manufacturing

17.0

59

 

+Plus Paint A/S

Subsidiary

Åbyhøj, 8

Denmark

Chemical Wholesale

0.0

5

 

+Plus Malergrossisten Århus A/S

Subsidiary

Åbyhøj, 8

Denmark

 

0.0

5

 

+Plus Malergrossisten Vejle ApS

Subsidiary

Åbyhøj, 8

Denmark

Chemical Wholesale

0.0

5

 

+Plus Malergrossisten Aalborg ApS

Subsidiary

Åbyhøj, 8

Denmark

Chemical Wholesale

0.0

5

 

PPG AC - France SA

Subsidiary

Rueil Malmaison

France

Paint, Coating, and Adhesive Manufacturing

437.7

825

 

PPG Distribution SAS

Subsidiary

Saint Jean de la Ruelle

France

Miscellaneous Wholesale

507.0

1,075

 

PPG Retail Europe SAS

Subsidiary

Moreuil

France

Miscellaneous Wholesale

237.3

90

 

Soc Anciens Ets Peppler S A

Subsidiary

Strasbourg

France

Construction and Hardware Materials Wholesale

18.6

34

 

PPG Industries Inc

Branch

New Martinsville, WV

United States

Home and Garden Retail

237.1

800

 

PPG Industries Inc

Branch

Oak Creek, WI

United States

Paint, Coating, and Adhesive Manufacturing

387.9

700

 

PPG Protective & Marine Coatings

Division

Alexander, AR

United States

Paint, Coating, and Adhesive Manufacturing

 

700

 

Oasis-Ameron Company Ltd.

Joint Venture

Al Khobar

Saudi Arabia

Paint, Coating, and Adhesive Manufacturing

 

100

 

PPG Industries Inc

Branch

Lexington, NC

United States

Home and Garden Retail

204.2

625

 

PPG Industries SpA

Subsidiary

Quattordio, AL

Italy

Paint, Coating, and Adhesive Manufacturing

105.1

618

 

Ampaspace SRL

Subsidiary

Casaletto Vaprio

Italy

Rubber and Plastic Product Manufacturing

10.9

39

 

PPG Industries Ohio, Inc.

Subsidiary

Cleveland, OH

United States

Paint, Coating, and Adhesive Manufacturing

187.5

602

 

PPG Industries Inc

Branch

Allison Park, PA

United States

Home and Garden Retail

132.1

400

 

PPG Korea

Subsidiary

Busan

Korea, Republic of

Paint, Coating, and Adhesive Manufacturing

 

380

 

PPG Industries Inc

Branch

Carlisle, PA

United States

Home and Garden Retail

115.6

350

 

Spraylat Corporation

Subsidiary

Mount Vernon, NY

United States

Paint, Coating, and Adhesive Manufacturing

47.0

350

 

One Shot LLC

Subsidiary

Chicago, IL

United States

Paint, Coating, and Adhesive Manufacturing

11.3

13

 

PPG Industries de México, S.A. de C.V.

Subsidiary

San Juan del Río, Querétaro

Mexico

Paint, Coating, and Adhesive Manufacturing

 

325

 

PPG Industries Inc

Branch

Wichita Falls, TX

United States

Home and Garden Retail

109.2

300

 

PPG Automotive Finishes

Branch

Delaware, OH

United States

Home and Garden Retail

93.7

300

 

PPG Industries France SAS

Subsidiary

Saultain

France

Paint, Coating, and Adhesive Manufacturing

 

300

 

PPG Italia Business Support S.r.l

Subsidiary

Milan

Italy

Miscellaneous Professional Services

37.6

278

 

PPG Industries, Inc. - Monroeville Chemical Center

Unit

Monroeville, PA

United States

Miscellaneous Chemical Manufacturing

 

267

 

Ppg Iberica Sa

Subsidiary

Rubi, Barcelona

Spain

Paint, Coating, and Adhesive Manufacturing

38.7

252

 

PPG Coatings Deutschland GmbH

Subsidiary

Bochum, Nordrhein-Westfalen

Germany

Paint, Coating, and Adhesive Manufacturing

94.2

250

 

PPG Industries Inc

Branch

Circleville, OH

United States

Home and Garden Retail

78.1

250

 

Brown Brothers Distribution Ltd.

Subsidiary

Chelmsford

United Kingdom

Paint, Coating, and Adhesive Manufacturing

47.9

226

 

Brown Brothers Distribution

UK Branch/Trading address

Bristol

United Kingdom

Motor Vehicle Repair and Maintenance

47.9

14

 

Brown Brothers Distribution

UK Branch/Trading address

Basingstoke

United Kingdom

Motor Vehicle Repair and Maintenance

47.9

12

 

Ppg France Business Support

Subsidiary

Marly

France

Computer System Design Services

47.6

224

 

PPG Industries France SAS

Subsidiary

Marly

France

Chemical Wholesale

214.1

202

 

Ppg Refinish France

Subsidiary

Puteaux

France

Chemical Wholesale

 

74

 

Ppg Industries International Inc

Subsidiary

Puteaux

France

Miscellaneous Personal Services

20.8

46

 

PPG Industries Inc

Branch

Mt Zion, IL

United States

Home and Garden Retail

68.9

200

 

PPG Refinish

Branch

Strongsville, OH

United States

Home and Garden Retail

62.5

200

 

PPG Industries Inc

Branch

Fresno, CA

United States

Home and Garden Retail

32.5

200

 

PPG Industries Inc

Branch

Monroeville, PA

United States

Metal Products Manufacturing

53.4

198

 

Zach System

Subsidiary

Avrille

France

Basic Chemical Manufacturing

46.0

193

 

PPG Industries Inc

Branch

New Franklin, OH

United States

Home and Garden Retail

46.9

150

 

PPG Industries Inc

Branch

Troy, MI

United States

Home and Garden Retail

46.3

150

 

Belletech Corp.

Joint Venture

Bellefontaine, OH

United States

Non-Metallic Mineral Product Manufacturing

 

150

 

Belletech Corp

Branch

Bellefontaine, OH

United States

Motor Vehicle Repair and Maintenance

1.1

10

 

Deft, Inc.

Subsidiary

Irvine, CA

United States

Paint, Coating, and Adhesive Manufacturing

28.9

140

 

Deft Inc

Branch

Alliance, OH

United States

Miscellaneous Manufacturing

3.9

18

 

PPG Industries Italia Srl

Subsidiary

Caivano, Campania

Italy

Paint, Coating, and Adhesive Manufacturing

 

140

 

PPG Industries Inc

Branch

Springdale, PA

United States

Paint, Coating, and Adhesive Manufacturing

74.5

125

 

PPG Deutschland Business Suport GmbH

Subsidiary

Wuppertal, Nordrhein-Westfalen

Germany

Paint, Coating, and Adhesive Manufacturing

 

125

 

PPG Protective/Marine Coatings

Branch

Alexander, AR

United States

Paint, Coating, and Adhesive Manufacturing

55.4

102

 

PPG Industries Inc

Branch

Gainesville, TX

United States

Metal Products Manufacturing

50.7

102

 

Ppg Industries Argentina S.A.

Subsidiary

Pilar, Buenos Aires

Argentina

Paint, Coating, and Adhesive Manufacturing

40.6

101

 

PPG Architectural Finishes, Inc.

Subsidiary

Pittsburgh, PA

United States

Paint, Coating, and Adhesive Manufacturing

400.0

100

 

Monarch Paint Company Inc.

Subsidiary

Houston, TX

United States

Miscellaneous Professional Services

0.7

400

 

PPG Architectural Finishes

Branch

Louisville, KY

United States

Metal Products Manufacturing

70.3

195

 

PPG Architectural Finishes

Branch

Dover, DE

United States

Miscellaneous Manufacturing

55.9

125

 

PPG Olympic Stain

Branch

Louisville, KY

United States

Home and Garden Retail

21.9

70

 

PPG Porter Paints

Branch

Louisville, KY

United States

Home and Garden Retail

15.6

50

 

PPG Porter Paints

Branch

St Louis, MO

United States

Home and Garden Retail

9.6

30

 

PPG Porter Paints

Branch

Tucker, GA

United States

Metal Products Manufacturing

7.9

30

 

PPG Pittsburgh Paints

Branch

Columbus, OH

United States

Home and Garden Retail

4.7

15

 

PPG Pittsburgh Paints

Branch

Houston, TX

United States

Home and Garden Retail

5.1

14

 

PPG Pittsburgh Paints

Branch

Dallas, TX

United States

Home and Garden Retail

4.4

12

 

PPG Porter Paints

Branch

North Charleston, SC

United States

Home and Garden Retail

3.7

12

 

PPG Pittsburgh Paints

Branch

Pasadena, TX

United States

Home and Garden Retail

3.6

10

 

PPG Pittsburgh Paints

Branch

San Antonio, TX

United States

Paint, Coating, and Adhesive Manufacturing

9.9

9

 

PPG Pittsburgh Paints

Branch

Knoxville, TN

United States

Home and Garden Retail

2.9

9

 

PPG Porter Paints

Branch

Louisville, KY

United States

Home and Garden Retail

2.8

9

 

PPG Porter Paints

Branch

Bowling Green, KY

United States

Home and Garden Retail

2.8

9

 

PPG Pittsburgh Paints

Branch

Paducah, KY

United States

Home and Garden Retail

2.5

8

 

PPG Pittsburgh Paints

Branch

San Antonio, TX

United States

Miscellaneous Wholesale

21.0

7

 

PPG Architectural Finishes

Branch

Mooresville, NC

United States

Paint, Coating, and Adhesive Manufacturing

4.7

7

 

PPG Pittsburgh Paints

Branch

Lake Buena Vista, FL

United States

Home and Garden Retail

2.4

7

 

PPG Porter Paints

Branch

Charlotte, NC

United States

Home and Garden Retail

2.3

7

 

PPG Porter Paints

Branch

Fort Wayne, IN

United States

Home and Garden Retail

2.2

7

 

PPG Pittsburgh Paints

Branch

Des Moines, IA

United States

Home and Garden Retail

2.1

7

 

PPG Pittsburgh Paints

Branch

Southfield, MI

United States

Miscellaneous Wholesale

17.7

6

 

PPG Porter Paints

Branch

Jackson, TN

United States

Miscellaneous Wholesale

13.8

6

 

PPG Pittsburgh Paints

Branch

Omaha, NE

United States

Paint, Coating, and Adhesive Manufacturing

4.0

6

 

PPG Pittsburgh Paints

Branch

Katy, TX

United States

Home and Garden Retail

2.2

6

 

PPG Pittsburgh Paints

Branch

Houston, TX

United States

Home and Garden Retail

2.2

6

 

PPG Porter Paints

Branch

Tampa, FL

United States

Home and Garden Retail

2.1

6

 

PPG Pittsburgh Paints

Branch

Huntsville, AL

United States

Home and Garden Retail

1.9

6

 

PPG Porter Paints

Branch

Cincinnati, OH

United States

Home and Garden Retail

1.9

6

 

PPG Pittsburgh Paints

Branch

Dayton, OH

United States

Home and Garden Retail

1.9

6

 

PPG Porter Paints

Branch

Carmel, IN

United States

Metal Products Manufacturing

1.9

6

 

PPG Porter Paints

Branch

St Matthews, KY

United States

Miscellaneous Wholesale

15.0

5

 

PPG Porter Paints

Branch

Gallatin, TN

United States

Miscellaneous Wholesale

11.5

5

 

PPG Porter Paints

Branch

Spartanburg, SC

United States

Miscellaneous Wholesale

9.1

5

 

PPG Porter Paints

Branch

Winston Salem, NC

United States

Paint, Coating, and Adhesive Manufacturing

3.4

5

 

PPG Architectural Finishes

Branch

Tampa, FL

United States

Paint, Coating, and Adhesive Manufacturing

2.4

5

 

PPG Pittsburgh Paints

Branch

Arlington, TX

United States

Home and Garden Retail

1.8

5

 

PPG Pittsburgh Paints

Branch

Round Rock, TX

United States

Home and Garden Retail

1.8

5

 

PPG Pittsburgh Paints

Branch

Corpus Christi, TX

United States

Home and Garden Retail

1.8

5

 

PPG Pittsburgh Paints

Branch

Killeen, TX

United States

Home and Garden Retail

1.8

5

 

PPG Pittsburgh Paints

Branch

Pearland, TX

United States

Home and Garden Retail

1.8

5

 

PPG Porter Paints

Branch

Louisville, KY

United States

Metal Products Manufacturing

1.8

5

 

PPG Pittsburgh Paints

Branch

Chicago, IL

United States

Home and Garden Retail

1.7

5

 

PPG Porter Paints

Branch

Salt Lake City, UT

United States

Home and Garden Retail

1.7

5

 

PPG Porter Paints

Branch

Midvale, UT

United States

Home and Garden Retail

1.7

5

 

PPG Pittsburgh Paints

Branch

Peoria, AZ

United States

Home and Garden Retail

1.7

5

 

PPG Pittsburgh Paints

Branch

Lincoln, NE

United States

Home and Garden Retail

1.6

5

 

PPG Pittsburgh Paints

Branch

Needham Heights, MA

United States

Home and Garden Retail

1.6

5

 

PPG Porter Paints

Branch

Nashville, TN

United States

Home and Garden Retail

1.6

5

 

PPG Porter Paints

Branch

Nashville, TN

United States

Home and Garden Retail

1.6

5

 

PPG Pittsburgh Paints

Branch

Indianapolis, IN

United States

Home and Garden Retail

1.6

5

 

PPG Porter Paints

Branch

Lexington, KY

United States

Home and Garden Retail

1.6

5

 

PPG Porter Paints

Branch

Greenville, SC

United States

Home and Garden Retail

1.6

5

 

PPG Porter Paints

Branch

Ballwin, MO

United States

Metal Products Manufacturing

1.4

5

 

PPG Pittsburgh Paints

Branch

San Antonio, TX

United States

Miscellaneous Wholesale

12.0

4

 

PPG Porter Paints

Branch

Madison, TN

United States

Miscellaneous Wholesale

9.2

4

 

PPG Porter Paints

Branch

Naples, FL

United States

Miscellaneous Wholesale

8.9

4

 

PPG Porter Paints

Branch

Sarasota, FL

United States

Miscellaneous Wholesale

8.9

4

 

PPG Pittsburgh Paints

Branch

Spring, TX

United States

Paint, Coating, and Adhesive Manufacturing

4.4

4

 

PPG Pittsburgh Paints

Branch

Austin, TX

United States

Paint, Coating, and Adhesive Manufacturing

4.4

4

 

PPG Pittsburgh Paints

Branch

Houston, TX

United States

Paint, Coating, and Adhesive Manufacturing

4.4

4

 

PPG Pittsburgh Paints

Branch

Lubbock, TX

United States

Paint, Coating, and Adhesive Manufacturing

4.4

4

 

PPG Pittsburgh Paints

Branch

Laredo, TX

United States

Paint, Coating, and Adhesive Manufacturing

4.4

4

 

PPG Pittsburgh Paints

Branch

Universal City, TX

United States

Paint, Coating, and Adhesive Manufacturing

4.4

4

 

PPG Architectural Finishes

Branch

Corpus Christi, TX

United States

Paint, Coating, and Adhesive Manufacturing

4.4

4

 

PPG Pittsburgh Paints

Branch

Warren, MI

United States

Paint, Coating, and Adhesive Manufacturing

2.7

4

 

PPG Porter Paints

Branch

Memphis, TN

United States

Paint, Coating, and Adhesive Manufacturing

2.5

4

 

PPG Pittsburgh Paints

Branch

Clovis, CA

United States

Paint, Coating, and Adhesive Manufacturing

2.2

4

 

PPG Pittsburgh Paints

Branch

Tucson, AZ

United States

Paint, Coating, and Adhesive Manufacturing

2.2

4

 

PPG Pittsburgh Paints

Branch

Hartford, CT

United States

Paint, Coating, and Adhesive Manufacturing

2.0

4

 

PPG Porter Paints

Branch

Doral, FL

United States

Paint, Coating, and Adhesive Manufacturing

1.9

4

 

PPG Pittsburgh Paints

Branch

Pasadena, TX

United States

Home and Garden Retail

1.5

4

 

PPG Pittsburgh Paints

Branch

New Braunfels, TX

United States

Home and Garden Retail

1.5

4

 

PPG Pittsburgh Paints

Branch

Austin, TX

United States

Home and Garden Retail

1.5

4

 

PPG Pittsburgh Paints

Branch

Humble, TX

United States

Home and Garden Retail

1.5

4

 

PPG Pittsburgh Paints

Branch

Tomball, TX

United States

Home and Garden Retail

1.5

4

 

PPG Pittsburgh Paints

Branch

Mckinney, TX

United States

Home and Garden Retail

1.5

4

 

PPG Pittsburgh Paints

Branch

Conroe, TX

United States

Home and Garden Retail

1.5

4

 

PPG Porter Paints

Branch

Oakland Park, FL

United States

Home and Garden Retail

1.4

4

 

PPG Porter Paints

Branch

North Palm Beach, FL

United States

Home and Garden Retail

1.4

4

 

PPG Porter Paints

Branch

Jupiter, FL

United States

Home and Garden Retail

1.4

4

 

PPG Porter Paints

Branch

Winter Haven, FL

United States

Home and Garden Retail

1.4

4

 

PPG Porter Paints

Branch

Stuart, FL

United States

Home and Garden Retail

1.4

4

 

PPG Porter Paints

Branch

Lakeland, FL

United States

Home and Garden Retail

1.4

4

 

Painters Supply

Subsidiary

Mesa, AZ

United States

Home and Garden Retail

1.4

4

 

PPG Pittsburgh Paints

Branch

Casa Grande, AZ

United States

Home and Garden Retail

1.4

4

 

PPG Pittsburgh Paints

Branch

Kahului, HI

United States

Home and Garden Retail

1.3

4

 

PPG Pittsburgh Paints

Branch

Honolulu, HI

United States

Home and Garden Retail

1.3

4

 

PPG Pittsburgh Paints

Branch

Lancaster, PA

United States

Home and Garden Retail

1.3

4

 

PPG Porter Paints

Branch

Hermitage, TN

United States

Home and Garden Retail

1.3

4

 

PPG Porter Paints

Branch

Nashville, TN

United States

Home and Garden Retail

1.3

4

 

PPG Porter Paints

Branch

Chattanooga, TN

United States

Home and Garden Retail

1.3

4

 

PPG Pittsburgh Paints

Branch

Oak Ridge, TN

United States

Home and Garden Retail

1.3

4

 

PPG Pittsburgh Paints

Branch

Knoxville, TN

United States

Home and Garden Retail

1.3

4

 

PPG Porter Paints

Branch

St Louis, MO

United States

Home and Garden Retail

1.3

4

 

PPG Pittsburgh Paints

Branch

Kansas City, MO

United States

Home and Garden Retail

1.3

4

 

PPG Pittsburgh Paints

Branch

Branson, MO

United States

Home and Garden Retail

1.3

4

 

PPG Pittsburgh Paints

Branch

Florence, AL

United States

Home and Garden Retail

1.3

4

 

PPG Porter Paints

Branch

New Albany, IN

United States

Home and Garden Retail

1.3

4

 

PPG Porter Paints

Branch

Evansville, IN

United States

Home and Garden Retail

1.3

4

 

PPG Pittsburgh Paints

Branch

Fort Smith, AR

United States

Home and Garden Retail

1.3

4

 

PPG Porter Paints

Branch

Owensboro, KY

United States

Home and Garden Retail

1.2

4

 

PPG Pittsburgh Paints

Branch

Dillon, SC

United States

Home and Garden Retail

1.2

4

 

PPG Porter Paints

Branch

Fishers, IN

United States

Metal Products Manufacturing

1.2

4

 

PPG Pittsburgh Paints

Branch

Royal Oak, MI

United States

Home and Garden Retail

1.2

4

 

PPG Pittsburgh Paints

Branch

Shelby Twp, MI

United States

Home and Garden Retail

1.2

4

 

PPG Pittsburgh Paints

Branch

Milford, NH

United States

Specialty Construction Trade Contractors

0.7

4

 

PPG Architectural Finishes

Branch

Brownsville, TX

United States

Miscellaneous Wholesale

9.0

3

 

PPG Porter Paints

Branch

Louisville, KY

United States

Miscellaneous Wholesale

9.0

3

 

PPG Porter Paints

Branch

Louisville, KY

United States

Miscellaneous Wholesale

9.0

3

 

PPG Porter Paints

Branch

Cumming, GA

United States

Miscellaneous Wholesale

8.0

3

 

PPG Porter Paints

Branch

Hendersonville, TN

United States

Miscellaneous Wholesale

6.9

3

 

PPG Porter Paints

Branch

Middletown, OH

United States

Miscellaneous Wholesale

6.7

3

 

PPG Porter Paints

Branch

Melbourne, FL

United States

Miscellaneous Wholesale

6.7

3

 

PPG Porter Paints

Branch

Delray Beach, FL

United States

Miscellaneous Wholesale

6.7

3

 

PPG Porter Paints

Branch

Altamonte Spgs, FL

United States

Miscellaneous Wholesale

6.7

3

 

PPG Porter Paints

Branch

Terre Haute, IN

United States

Miscellaneous Wholesale

5.9

3

 

PPG Porter Paints

Branch

Indianapolis, IN

United States

Miscellaneous Wholesale

5.9

3

 

PPG Porter Paints

Branch

Raleigh, NC

United States

Miscellaneous Wholesale

5.5

3

 

PPG Porter Paints

Branch

Cornelius, NC

United States

Miscellaneous Wholesale

5.5

3

 

PPG Porter Paints

Branch

Cary, NC

United States

Miscellaneous Wholesale

5.5

3

 

PPG Porter Paints

Branch

Florence, SC

United States

Miscellaneous Wholesale

5.4

3

 

PPG Pittsburgh Paints

Branch

Austin, TX

United States

Paint, Coating, and Adhesive Manufacturing

3.3

3

 

PPG Pittsburgh Paints

Branch

Mcallen, TX

United States

Paint, Coating, and Adhesive Manufacturing

3.3

3

 

PPG Architectural Finishes

Branch

Mcallen, TX

United States

Paint, Coating, and Adhesive Manufacturing

3.3

3

 

PPG Architectural Finishes

Branch

Fort Worth, TX

United States

Paint, Coating, and Adhesive Manufacturing

3.3

3

 

PPG Pittsburgh Paints

Branch

Waterloo, IA

United States

Paint, Coating, and Adhesive Manufacturing

2.2

3

 

PPG Pittsburgh Paints

Branch

Sioux City, IA

United States

Paint, Coating, and Adhesive Manufacturing

2.2

3

 

PPG Pittsburgh Paints

Branch

Cedar Rapids, IA

United States

Paint, Coating, and Adhesive Manufacturing

2.2

3

 

PPG Pittsburgh Paints

Branch

Urbandale, IA

United States

Paint, Coating, and Adhesive Manufacturing

2.2

3

 

PPG Porter Paints

Branch

Rock Hill, SC

United States

Paint, Coating, and Adhesive Manufacturing

1.9

3

 

PPG Porter Paints

Branch

Cordova, TN

United States

Paint, Coating, and Adhesive Manufacturing

1.9

3

 

PPG Porter Paints

Branch

Woodstock, GA

United States

Paint, Coating, and Adhesive Manufacturing

1.7

3

 

PPG Porter Paints

Branch

Columbus, GA

United States

Paint, Coating, and Adhesive Manufacturing

1.7

3

 

PPG Porter Paints

Branch

Greenacres, FL

United States

Paint, Coating, and Adhesive Manufacturing

1.5

3

 

PPG Porter Paints

Branch

West Palm Beach, FL

United States

Paint, Coating, and Adhesive Manufacturing

1.5

3

 

PPG Porter Paints

Branch

Dania, FL

United States

Paint, Coating, and Adhesive Manufacturing

1.5

3

 

PPG Pittsburgh Paints

Branch

College Station, TX

United States

Home and Garden Retail

1.1

3

 

PPG Pittsburgh Paints

Branch

Fort Worth, TX

United States

Home and Garden Retail

1.1

3

 

Pittsburgh Paints

Subsidiary

Sugar Land, TX

United States

Home and Garden Retail

1.1

3

 

Pittsburgh Paints

Subsidiary

Plano, TX

United States

Home and Garden Retail

1.1

3

 

PPG Pittsburgh Paints

Branch

Grapevine, TX

United States

Home and Garden Retail

1.1

3

 

PPG Pittsburgh Paints

Branch

Roanoke, TX

United States

Home and Garden Retail

1.1

3

 

PPG Pittsburgh Paints

Branch

Cedar Park, TX

United States

Home and Garden Retail

1.1

3

 

PPG Pittsburgh Paints

Branch

Austin, TX

United States

Home and Garden Retail

1.1

3

 

PPG Pittsburgh Paints

Branch

San Antonio, TX

United States

Home and Garden Retail

1.1

3

 

PPG Pittsburgh Paints

Branch

Brownsville, TX

United States

Home and Garden Retail

1.1

3

 

PPG Pittsburgh Paints

Branch

Madera, CA

United States

Home and Garden Retail

1.1

3

 

PPG Pittsburgh Paints

Branch

Westmont, IL

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Elgin, IL

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Stone Park, IL

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Alsip, IL

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Aurora, IL

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Tallahassee, FL

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Gainesville, FL

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Ocala, FL

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Deerfield Beach, FL

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Venice, FL

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Land O Lakes, FL

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Clearwater, FL

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Sanford, FL

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Orlando, FL

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Bradenton, FL

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Vero Beach, FL

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Fort Myers, FL

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Panama City, FL

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Orlando, FL

United States

Home and Garden Retail

1.0

3

 

Ppg Porter Painting

Branch

Panama City, FL

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

District Heights, MD

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Lutherville, MD

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Rockville, MD

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Waipahu, HI

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Tipton, PA

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Philadelphia, PA

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Conyers, GA

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Athens, GA

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Atlanta, GA

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Lawrenceville, GA

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Warner Robins, GA

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Snellville, GA

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Suwanee, GA

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Kill Devil Hills, NC

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Indian Trail, NC

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Charlotte, NC

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Durham, NC

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

N Chesterfield, VA

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Richmond, VA

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Lorton, VA

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Chantilly, VA

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Mandeville, LA

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Baton Rouge, LA

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Baton Rouge, LA

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Collierville, TN

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Clarksville, TN

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Mt Juliet, TN

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Memphis, TN

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Millington, TN

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Nashville, TN

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Warwick, RI

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

St Louis, MO

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

St Louis, MO

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

St Louis, MO

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Chesterfield, MO

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

St Peters, MO

United States

Home and Garden Retail

1.0

3

 

PPG Pittsburgh Paints

Branch

Sioux Falls, SD

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Olive Branch, MS

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Vicksburg, MS

United States

Home and Garden Retail

1.0

3

 

PPG Porter Paints

Branch

Carmel, IN

United States

Home and Garden Retail

0.9

3

 

PPG Porter Paints

Branch

Avon, IN

United States

Home and Garden Retail

0.9

3

 

PPG Pittsburgh Paints

Branch

Griffith, IN

United States

Home and Garden Retail

0.9

3

 

PPG Porter Paints

Branch

Indianapolis, IN

United States

Home and Garden Retail

0.9

3

 

Spectrum Paints

Subsidiary

Bentonville, AR

United States

Home and Garden Retail

0.9

3

 

PPG Pittsburgh Paints

Branch

Jonesboro, AR

United States

Home and Garden Retail

0.9

3

 

PPG Porter Paints

Branch

Wooster, OH

United States

Home and Garden Retail

0.9

3

 

PPG Porter Paints

Branch

Gahanna, OH

United States

Home and Garden Retail

0.9

3

 

PPG Porter Paints

Branch

Miamisburg, OH

United States

Home and Garden Retail

0.9

3

 

PPG Porter Paints

Branch

Maineville, OH

United States

Home and Garden Retail

0.9

3

 

PPG Pittsburgh Paints

Branch

Bedford, OH

United States

Home and Garden Retail

0.9

3

 

PPG Porter Paints

Branch

Florence, KY

United States

Home and Garden Retail

0.9

3

 

PPG Pittsburgh Paints

Branch

Ashland, KY

United States

Home and Garden Retail

0.9

3

 

PPG Porter Paints

Branch

Anderson, SC

United States

Home and Garden Retail

0.9

3

 

PPG Porter Paints

Branch

Columbia, SC

United States

Home and Garden Retail

0.9

3

 

PPG Porter Paints

Branch

Myrtle Beach, SC

United States

Home and Garden Retail

0.9

3

 

PPG Pittsburgh Paints

Branch

Novi, MI

United States

Home and Garden Retail

0.9

3

 

PPG Pittsburgh Paints

Branch

Canton, MI

United States

Home and Garden Retail

0.9

3

 

PPG Pittsburgh Paints

Branch

Taylor, MI

United States

Home and Garden Retail

0.9

3

 

PPG Porter Paints

Branch

Bel Aire, KS

United States

Home and Garden Retail

0.9

3

 

PPG Porter Paints

Branch

Shawnee Mission, KS

United States

Home and Garden Retail

0.9

3

 

PPG Porter Paints

Branch

Wichita, KS

United States

Home and Garden Retail

0.9

3

 

PPG Pittsburgh Paints

Branch

Milwaukee, WI

United States

Home and Garden Retail

0.9

3

 

PPG Pittsburgh Paints

Branch

Davenport, IA

United States

Home and Garden Retail

0.9

3

 

PPG Pittsburgh Paints

Branch

Mason City, IA

United States

Home and Garden Retail

0.9

3

 

PPG Pittsburgh Paints

Branch

Des Moines, IA

United States

Home and Garden Retail

0.9

3

 

PPG Architectural Finishes

Branch

Bettendorf, IA

United States

Home and Garden Retail

0.9

3

 

PPG Porter Paints

Branch

Chattanooga, TN

United States

Metal Products Manufacturing

0.9

3

 

PPG Pittsburgh Paints

Branch

Pigeon Forge, TN

United States

Metal Products Manufacturing

0.9

3

 

PPG Pittsburgh Paints

Branch

Brownsville, TX

United States

Miscellaneous Wholesale

6.0

2

 

PPG Porter Paints

Branch

Louisville, KY

United States

Miscellaneous Wholesale

6.0

2

 

PPG Porter Paints

Branch

Louisville, KY

United States

Miscellaneous Wholesale

6.0

2

 

PPG Porter Paints

Branch

Louisville, KY

United States

Miscellaneous Wholesale

6.0

2

 

PPG Porter Paints

Branch

Fern Creek, KY

United States

Miscellaneous Wholesale

6.0

2

 

PPG Porter Paints

Branch

Valdosta, GA

United States

Miscellaneous Wholesale

5.3

2

 

PPG Porter Paints

Branch

Albany, GA

United States

Miscellaneous Wholesale

5.3

2

 

PPG Porter Paints

Branch

Acworth, GA

United States

Miscellaneous Wholesale

5.3

2

 

PPG Porter Paints

Branch

Hiram, GA

United States

Miscellaneous Wholesale

5.3

2

 

PPG Porter Paints

Branch

Grove City, OH

United States

Miscellaneous Wholesale

4.4

2

 

PPG Porter Paints

Branch

Sarasota, FL

United States

Miscellaneous Wholesale

4.4

2

 

PPG Porter Paints

Branch

Sarasota, FL

United States

Miscellaneous Wholesale

4.4

2

 

PPG Porter Paints

Branch

Indianapolis, IN

United States

Miscellaneous Wholesale

3.9

2

 

PPG Porter Paints

Branch

Indianapolis, IN

United States

Miscellaneous Wholesale

3.9

2

 

PPG Porter Paints

Branch

Charlotte, NC

United States

Miscellaneous Wholesale

3.7

2

 

PPG Pittsburgh Paints

Branch

Lancaster, TX

United States

Paint, Coating, and Adhesive Manufacturing

2.2

2

 

PPG Pittsburgh Paints

Branch

Harlingen, TX

United States

Paint, Coating, and Adhesive Manufacturing

2.2

2

 

PPG Pittsburgh Paints

Branch

Ottumwa, IA

United States

Paint, Coating, and Adhesive Manufacturing

1.4

2

 

PPG Porter Paints

Branch

Matthews, NC

United States

Paint, Coating, and Adhesive Manufacturing

1.3

2

 

PPG Pittsburgh Paints

Branch

Omaha, NE

United States

Paint, Coating, and Adhesive Manufacturing

1.3

2

 

PPG Porter Paints

Branch

Franklin, TN

United States

Paint, Coating, and Adhesive Manufacturing

1.3

2

 

PPG Porter Paints

Branch

Stockbridge, GA

United States

Paint, Coating, and Adhesive Manufacturing

1.2

2

 

PPG Architectural Finishes

Branch

Miami, FL

United States

Paint, Coating, and Adhesive Manufacturing

1.0

2

 

PPG Pittsburgh Paints

Branch

Denton, TX

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Mesquite, TX

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Weatherford, TX

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Mansfield, TX

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Benbrook, TX

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

San Angelo, TX

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Mission, TX

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Dallas, TX

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Georgetown, TX

United States

Home and Garden Retail

0.7

2

 

Pittsburgh Paints

Subsidiary

Wichita Falls, TX

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Visalia, CA

United States

Home and Garden Retail

0.7

2

 

Ppg Paints

Subsidiary

Palm Desert, CA

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Las Vegas, NV

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

O Fallon, IL

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Springfield, IL

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Chicago, IL

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Orlando, FL

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Palm Springs, FL

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Tampa, FL

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Port St Lucie, FL

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Clermont, FL

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Tampa, FL

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

St Petersburg, FL

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Palm Harbor, FL

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Tampa, FL

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Lakeland, FL

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Orlando, FL

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Brooksville, FL

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Tallahassee, FL

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Oviedo, FL

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Tucson, AZ

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Sierra Vista, AZ

United States

Home and Garden Retail

0.7

2

 

PPG Architectural Finishes

Branch

Casa Grande, AZ

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Kapaa, HI

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Chamblee, GA

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Gainesville, GA

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Smyrna, GA

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Rome, GA

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Canton, GA

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Omaha, NE

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

New Orleans, LA

United States

Home and Garden Retail

0.7

2

 

PPG Porter Paints

Branch

Slidell, LA

United States

Home and Garden Retail

0.7

2

 

PPG Pittsburgh Paints

Branch

Kingsport, TN

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Dickson, TN

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Webster Groves, MO

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

St Louis, MO

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Olive Branch, MS

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Vincennes, IN

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Fishers, IN

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Jeffersonville, IN

United States

Home and Garden Retail

0.6

2

 

PPG Pittsburgh Paints

Branch

N Little Rock, AR

United States

Home and Garden Retail

0.6

2

 

PPG Pittsburgh Paints

Branch

Conway, AR

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Lexington, KY

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Cincinnati, OH

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Cincinnati, OH

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Cincinnati, OH

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Montgomery, OH

United States

Home and Garden Retail

0.6

2

 

PPG Pittsburgh Paints

Branch

Circleville, OH

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

West Chester, OH

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Cincinnati, OH

United States

Home and Garden Retail

0.6

2

 

PPG Pittsburgh Paints

Branch

Hilliard, OH

United States

Home and Garden Retail

0.6

2

 

PPG Pittsburgh Paints

Branch

Reynoldsburg, OH

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Powell, OH

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Cincinnati, OH

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

La Grange, KY

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Columbus, OH

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Mauldin, SC

United States

Home and Garden Retail

0.6

2

 

PPG Pittsburgh Paints

Branch

Blaine, MN

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Evansville, IN

United States

Metal Products Manufacturing

0.6

2

 

PPG Pittsburgh Paints

Branch

Jackson, MI

United States

Home and Garden Retail

0.6

2

 

PPG Pittsburgh Paints

Branch

Waterford, MI

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Shawnee Mission, KS

United States

Home and Garden Retail

0.6

2

 

PPG Pittsburgh Paints

Branch

Ripon, WI

United States

Home and Garden Retail

0.6

2

 

PPG Pittsburgh Paints

Branch

Fairmont, WV

United States

Home and Garden Retail

0.6

2

 

PPG Pittsburgh Paints

Branch

Iowa City, IA

United States

Home and Garden Retail

0.6

2

 

PPG Pittsburgh Paints

Branch

Bettendorf, IA

United States

Home and Garden Retail

0.6

2

 

PPG Porter Paints

Branch

Louisville, KY

United States

Miscellaneous Wholesale

3.0

1

 

PPG Porter Paints

Branch

Louisville, KY

United States

Miscellaneous Wholesale

3.0

1

 

PPG Porter Paints

Branch

Louisville, KY

United States

Miscellaneous Wholesale

3.0

1

 

PPG Porter Paints

Branch

Spring Hill, FL

United States

Miscellaneous Wholesale

2.2

1

 

PPG Porter Paints

Branch

Indianapolis, IN

United States

Miscellaneous Wholesale

2.0

1

 

PPG Porter Paints

Branch

Greenwood, IN

United States

Miscellaneous Wholesale

2.0

1

 

PPG Porter Paints

Branch

Hebron, KY

United States

Paint, Coating, and Adhesive Manufacturing

0.8

1

 

PPG Porter Paints

Branch

Fort Wright, KY

United States

Metal Products Manufacturing

0.4

1

 

PPG Porter Paints

Branch

Peachtree City, GA

United States

Home and Garden Retail

0.3

1

 

PPG Porter Paints

Branch

Atlanta, GA

United States

Home and Garden Retail

0.3

1

 

PPG Porter Paints

Branch

Clarksville, IN

United States

Home and Garden Retail

0.3

1

 

PPG Porter Paints

Branch

Westfield, IN

United States

Home and Garden Retail

0.3

1

 

PPG Porter Paints

Branch

Lexington, KY

United States

Home and Garden Retail

0.3

1

 

PPG Porter Paints

Branch

Fairfield, OH

United States

Home and Garden Retail

0.3

1

 

PPG Pittsburgh Paints

Branch

Portsmouth, OH

United States

Home and Garden Retail

0.3

1

 

PPG Pittsburgh Paints

Branch

Clarkston, MI

United States

Home and Garden Retail

0.3

1

 

PPG Industries Inc

Branch

Greensboro, NC

United States

Home and Garden Retail

32.7

100

 

PPG Industries (UK) Ltd.

Subsidiary

Shildon

United Kingdom

Paint, Coating, and Adhesive Manufacturing

 

100

 

PPG Industries Lackfabrik GmbH

Subsidiary

Weingarten

Germany

Paint, Coating, and Adhesive Manufacturing

 

100

 

PPG Industries Inc

Branch

East Point, GA

United States

Home and Garden Retail

32.2

98

 

PPG Industries Europe Sarl

Subsidiary

Rolle

Switzerland

Paint, Coating, and Adhesive Manufacturing

14,885.0

75

 

Ppg Industries Czech Republic, S.R.O.

Subsidiary

Brno

Czech Republic

Miscellaneous Wholesale

8.6

141

 

Ppg Indastriz Ooo

Subsidiary

Moscow

Russian Federation

Paint, Coating, and Adhesive Manufacturing

8.4

126

 

Ppg Industries Poland Sp Z O O

Subsidiary

Gliwice

Poland

Metal Products Manufacturing

96.9

80

 

Ppg Hellas S.A.

Subsidiary

Acharnes

Greece

Chemical Wholesale

9.9

30

 

PPG Dr Schoch AG

Subsidiary

Burgdorf

Switzerland

Paint, Coating, and Adhesive Manufacturing

 

75

 

Intercast Europe S.r.l.

Subsidiary

Parma

Italy

Machinery and Equipment Manufacturing

27.6

63

 

PPG Industries Inc

Branch

Milford, OH

United States

Paint, Coating, and Adhesive Manufacturing

38.6

60

 

PPG Industrial Coatings B.V.

Subsidiary

Veenendaal

Netherlands

Paint, Coating, and Adhesive Manufacturing

 

60

 

PPG Industries Inc

Branch

Burlington, IA

United States

Home and Garden Retail

16.5

56

 

PPG Coatings (Singapore) Pte Ltd

Subsidiary

Singapore

Singapore

Paint, Coating, and Adhesive Manufacturing

60.7

50

 

Chemfil Canada Ltd.

Subsidiary

Windsor, ON

Canada

Machinery and Equipment Manufacturing

18.1

50

 

Sigma Samsung Coatings Co., Ltd

Subsidiary

Busan

Korea, Republic of

Paint, Coating, and Adhesive Manufacturing

 

50

 

PPG Coatings (Thailand) Co., Ltd.

Subsidiary

Bangkok

Thailand

Non-Metallic Mineral Product Manufacturing

 

50

 

PPG Coatings BV

Subsidiary

Tiel

Netherlands

Paint, Coating, and Adhesive Manufacturing

 

44

 

PPG Industries Inc

Branch

Adrian, MI

United States

Home and Garden Retail

12.3

40

 

PPG Coatings SA

Subsidiary

Gonfreville

France

Paint, Coating, and Adhesive Manufacturing

89.0

34

 

PPG Industries Inc

Branch

Batavia, IL

United States

Home and Garden Retail

11.0

32

 

PPG (Austria) Handels GmbH

Subsidiary

Salzburg

Austria

Paint, Coating, and Adhesive Manufacturing

18.0

30

 

PPG Industries Inc

Branch

Denver, CO

United States

Home and Garden Retail

8.4

25

 

Ppg Services (Shanghai) Co., Ltd.

Subsidiary

Shanghai, Shanghai

China

Non-Metallic Mineral Product Manufacturing

 

25

 

PPG Industries Inc

Branch

Aurora, IL

United States

Home and Garden Retail

8.3

24

 

Vanex Inc

Subsidiary

Mt Vernon, IL

United States

Paint, Coating, and Adhesive Manufacturing

12.8

20

 

Coatings Resource Corp

Subsidiary

Huntington Beach, CA

United States

Paint, Coating, and Adhesive Manufacturing

11.2

20

 

PPG Industries Inc

Branch

Los Angeles, CA

United States

Paint, Coating, and Adhesive Manufacturing

11.2

20

 

PPG Industries Inc

Branch

Darien, WI

United States

Home and Garden Retail

6.0

20

 

Ppg Service Sud SRL

Subsidiary

Melfi

Italy

Paint, Coating, and Adhesive Manufacturing

2.4

16

 

Ppg Italia Sales & Services SRL

Subsidiary

Genova

Italy

Miscellaneous Wholesale

333.6

188

 

PPG Industries Inc

Branch

City Of Industry, CA

United States

Paint, Coating, and Adhesive Manufacturing

8.4

15

 

Transitions Optical (S) Pte. Ltd.

Subsidiary

Singapore

Singapore

Machinery and Equipment Manufacturing

87.4

14

 

 

Transitions Optical, Inc.

Subsidiary

Pinellas Park, FL

United States

Machinery and Equipment Manufacturing

310.0

1,200

 

PPG Industries Inc

Branch

Flint, MI

United States

Home and Garden Retail

3.7

12

 

PPG Refinish

Branch

Houston, TX

United States

Paint, Coating, and Adhesive Manufacturing

11.0

10

 

PPG Refinish

Branch

Guilderland Ctr, NY

United States

Home and Garden Retail

3.4

10

 

PPG Industries Inc

Branch

Lake Buena Vista, FL

United States

Home and Garden Retail

3.4

10

 

PPG Industries Inc

Branch

Pearl, MS

United States

Home and Garden Retail

3.2

10

 

PPG Industries Inc

Branch

Warren, OH

United States

Metal Products Manufacturing

2.9

10

 

PPG Industries Inc

Branch

Portland, OR

United States

Metal Products Manufacturing

2.7

10

 

PPG Industries Inc

Branch

West Hartford, CT

United States

Home and Garden Retail

3.2

9

 

PPG Industries Inc

Branch

Manchester, NH

United States

Home and Garden Retail

3.1

9

 

PPG Industries Inc

Branch

Bethlehem, PA

United States

Home and Garden Retail

3.0

9

 

PPG Industries Inc

Branch

Atlanta, GA

United States

Home and Garden Retail

3.0

9

 

PPG Industries Inc

Branch

Savannah, GA

United States

Home and Garden Retail

3.0

9

 

PPG Industries Inc

Branch

Raleigh, NC

United States

Home and Garden Retail

2.9

9

 

PPG Industries Inc

Branch

Shreveport, LA

United States

Home and Garden Retail

2.9

9

 

PPG Industries Inc

Branch

Huntsville, AL

United States

Home and Garden Retail

2.9

9

 

Pgw

Subsidiary

Indianapolis, IN

United States

Home and Garden Retail

2.8

9

 

PPG Industries Inc

Branch

St Cloud, MN

United States

Home and Garden Retail

2.8

9

 

PPG Industries Inc

Branch

Saginaw, MI

United States

Home and Garden Retail

2.8

9

 

PPG Industries Inc

Branch

Madison, WI

United States

Home and Garden Retail

2.7

9

 

PPG Industries Inc

Branch

Poca, WV

United States

Home and Garden Retail

2.7

9

 

PPG Refinish

Branch

Edina, MN

United States

Motor Vehicle Wholesale

14.9

8

 

PPG Industries Inc

Branch

Doral, FL

United States

Home and Garden Retail

2.7

8

 

PPG Industries Inc

Branch

Tucker, GA

United States

Home and Garden Retail

2.6

8

 

PPG Industries Inc

Branch

Janesville, WI

United States

Home and Garden Retail

2.4

8

 

PPG Industries Inc

Branch

Tucson, AZ

United States

Home and Garden Retail

2.4

7

 

PPG Industries Inc

Branch

Lansing, MI

United States

Home and Garden Retail

2.2

7

 

Pittsburgh Glass Works

Subsidiary

Londonderry, NH

United States

Home and Garden Retail

2.1

6

 

PPG Industries Inc

Branch

Clackamas, OR

United States

Home and Garden Retail

2.0

6

 

PPG Industries Inc

Branch

Marysville, OH

United States

Home and Garden Retail

1.9

6

 

PPG Refinish Distribution

Branch

Kissimmee, FL

United States

Motor Vehicle Wholesale

10.3

5

 

PPG Refinish

Branch

City Of Industry, CA

United States

Paint, Coating, and Adhesive Manufacturing

2.8

5

 

PPG Industries Inc

Branch

Lubbock, TX

United States

Home and Garden Retail

1.8

5

 

PPG Industries Inc

Branch

Boise, ID

United States

Home and Garden Retail

1.7

5

 

PPG Industries Inc

Branch

Denver, CO

United States

Home and Garden Retail

1.7

5

 

PPG High Performance Coating

Branch

Indianapolis, IN

United States

Home and Garden Retail

1.6

5

 

Ppg Industries Ireland Limited

Subsidiary

Dublin

Ireland

Consulting Services

0.7

5

 

PPG Industries Inc

Branch

Houston, TX

United States

Paint, Coating, and Adhesive Manufacturing

4.4

4

 

PPG Protective/Marine Coatings

Branch

Auburn, WA

United States

Home and Garden Retail

1.5

4

 

PGW

Subsidiary

Metairie, LA

United States

Home and Garden Retail

1.3

4

 

PPG Industries Inc

Branch

Edina, MN

United States

Home and Garden Retail

1.2

4

 

PPG Industries Inc

Branch

Smyrna, GA

United States

Paint, Coating, and Adhesive Manufacturing

1.7

3

 

PPG Industries Inc

Branch

Douglasville, GA

United States

Paint, Coating, and Adhesive Manufacturing

1.7

3

 

PPG Industries Inc

Branch

Irving, TX

United States

Metal Products Manufacturing

1.5

3

 

PPG Industries Inc

Branch

Mckinney, TX

United States

Home and Garden Retail

1.1

3

 

PPG Industries Inc

Branch

La Porte, TX

United States

Home and Garden Retail

1.1

3

 

PPG Industries Inc

Branch

Lewisville, TX

United States

Home and Garden Retail

1.1

3

 

PPG Industries Inc

Branch

Fort Worth, TX

United States

Home and Garden Retail

1.1

3

 

PPG Industries Inc

Branch

Arlington, TX

United States

Home and Garden Retail

1.1

3

 

PPG Industries Inc

Branch

Lancaster, CA

United States

Home and Garden Retail

1.1

3

 

PPG Industries Inc

Branch

Sonora, CA

United States

Home and Garden Retail

1.1

3

 

PPG Industries Inc

Branch

Glastonbury, CT

United States

Home and Garden Retail

1.1

3

 

PPG Industries Inc

Branch

Naperville, IL

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Gurnee, IL

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Latham, NY

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Cheektowaga, NY

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

New York, NY

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Mt Vernon, NY

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Kissimmee, FL

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Jacksonville, FL

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Ogden, UT

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Halethorpe, MD

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

District Heights, MD

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Rockville, MD

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Farmington, NM

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Springdale, PA

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Lake Ariel, PA

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Omaha, NE

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Richmond, VA

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Alexandria, VA

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Lake Charles, LA

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Knoxville, TN

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Wentzville, MO

United States

Home and Garden Retail

1.0

3

 

PPG Industries Inc

Branch

Conway, AR

United States

Home and Garden Retail

0.9

3

 

PPG Industries Inc

Branch

Westerville, OH

United States

Home and Garden Retail

0.9

3

 

PPG Industries Inc

Branch

Chester, SC

United States

Home and Garden Retail

0.9

3

 

PPG Industries Inc

Branch

Columbia, SC

United States

Home and Garden Retail

0.9

3

 

PPG Industries Inc

Branch

Minneapolis, MN

United States

Home and Garden Retail

0.9

3

 

PPG Industries Inc

Branch

Wichita, KS

United States

Home and Garden Retail

0.9

3

 

PPG Industries Inc

Branch

New Martinsville, WV

United States

Home and Garden Retail

0.9

3

 

PPG Industries Inc

Branch

Jersey City, NJ

United States

Metal Products Manufacturing

0.8

3

 

PPG Industries Inc

Branch

Sunrise, FL

United States

Metal Products Manufacturing

0.7

3

 

PPG Industries Inc

Branch

Altamonte Spgs, FL

United States

Metal Products Manufacturing

0.7

3

 

PPG Industries Securities, Inc.

Subsidiary

Dover, DE

United States

Holding Companies

0.1

3

 

Ppg Coatings (Malaysia) Sdn Bhd

Subsidiary

Petaling Jaya, Selangor

Malaysia

Paint, Coating, and Adhesive Manufacturing

96.1

200

 

Ppg Coatings (Hong Kong) Co., Limited

Subsidiary

 

 

 

 

 

 

Ppg Coatings (Tianjin) Co.,Ltd.

Subsidiary

Tianjin, Tianjin

China

Paint, Coating, and Adhesive Manufacturing

359.2

1,300

 

Ppg Coatings (Shanghai) Co., Ltd.

Subsidiary

Shanghai, Shanghai

China

Paint, Coating, and Adhesive Manufacturing

51.5

400

 

Ppg Packaging Coatings (Suzhou) Co., Ltd.

Subsidiary

Suzhou, Jiangsu

China

Paint, Coating, and Adhesive Manufacturing

80.4

150

 

Ppg Coatings (Wuhu) Co., Ltd.

Subsidiary

Wuhu, Anhui

China

Paint, Coating, and Adhesive Manufacturing

49.0

150

 

Ppg Industrial Coatings (Suzhou) Co.,Ltd

Subsidiary

Suzhou, Jiangsu

China

Paint, Coating, and Adhesive Manufacturing

17.8

100

 

Foshan Bairun Chemical Co., Ltd.

Subsidiary

Foshan, Guangdong

China

Miscellaneous Manufacturing

1.4

90

 

Ppg Aerospace Materials (Suzhou) Co., Ltd.

Subsidiary

Suzhou, Jiangsu

China

Paint, Coating, and Adhesive Manufacturing

17.7

60

 

PPG Training Center

Branch

Kansas City, MO

United States

Professional and Management Training

 

3

 

PPG Industries Inc

Branch

Concord, CA

United States

Home and Garden Retail

0.7

2

 

PPG Industries Inc

Branch

Windsor Locks, CT

United States

Home and Garden Retail

0.7

2

 

PPG Training Center

Branch

Kent, WA

United States

Professional and Management Training

 

2

 

PPG Training Center

Branch

Glen Burnie, MD

United States

Professional and Management Training

 

2

 

PPG Industries Inc

Branch

Mission Viejo, CA

United States

Home and Garden Retail

0.4

1

 

PPG Industries Inc

Branch

St Louis, MO

United States

Home and Garden Retail

0.3

1

 

PPG Industries Inc

Branch

Dublin, OH

United States

Home and Garden Retail

0.3

1

 

Renner Sayerlack S.A.

Subsidiary

Cajamar, SP

Brazil

Paint, Coating, and Adhesive Manufacturing

227.7

 

 

Ppg Japan Ltd.

Subsidiary

Shibuya-Ku, Tokyo

Japan

Miscellaneous Wholesale

40.7

 

 

Ppg Industries (Singapore) Pte., Ltd.

Subsidiary

Singapore

Singapore

Chemical Wholesale

30.2

 

 

Ppg Holdings (U.K.) Ltd.

Subsidiary

Stowmarket

United Kingdom

Miscellaneous Professional Services

 

 

 

Ppg Industries (UK) Ltd.

Subsidiary

Wigan

United Kingdom

Synthetic Chemical Manufacturing

239.8

910

 

PPG Industries Ltd.

UK Branch/Trading address

Stowmarket

United Kingdom

Paint, Coating, and Adhesive Manufacturing

239.8

750

 

PPG Industries UK Ltd.

UK Branch/Trading address

Birmingham

United Kingdom

Textile Manufacturing

239.8

175

 

Max Meyer (UK) Ltd.

Subsidiary

Stowmarket

United Kingdom

Paint, Coating, and Adhesive Manufacturing

 

 

 

Ppg Xyz Ltd.

Subsidiary

Stowmarket

United Kingdom

Miscellaneous Wholesale

 

 

 

Ppg Central (UK) Ltd.

Subsidiary

Stowmarket

United Kingdom

Miscellaneous Professional Services

0.0

 

 

P.P.G. Glass (UK) Ltd.

Subsidiary

Stowmarket

United Kingdom

Miscellaneous Wholesale

 

 

 

Ppg Industries (UK) Pension Trustee Ltd.

Subsidiary

Stowmarket

United Kingdom

Pensions and Funds

 

 

 

PPG Coatings Belux N.V.

Subsidiary

Hasselt

Belgium

Paint, Coating, and Adhesive Manufacturing

 

 

 

PPG Industries Belgium B.V.B.A.

Subsidiary

Mechelen

Belgium

Miscellaneous Wholesale

 

 

 

Ppg Coatings

Subsidiary

Bruxelles

Belgium

Paint, Coating, and Adhesive Manufacturing

295.4

169

 

Ppg Performance Coatings (Hong Kong) Limited

Subsidiary

Tai Koo Shing, Hong Kong

Hong Kong

Miscellaneous Wholesale

27.9

 

 

Sikar (Shanghai) Trading Co., Ltd.

Subsidiary

Shanghai, Shanghai

China

Chemical Wholesale

36.8

8

 

Ppg Coatings (Kunshan) Co.,Ltd.

Subsidiary

Kunshan, Jiangsu

China

Nonclassifiable Establishments

199.2

 

 

Necarbo B.V.

Subsidiary

Beverwijk

Netherlands

Machinery Wholesale

 

 

 

PT. PPG Coatings Indonesia

Subsidiary

Jakarta

Indonesia

Paint, Coating, and Adhesive Manufacturing

 

 

 

PPG Industries Kimya Sanayi ve Ticaret Anonim Sirketi

Subsidiary

Bursa

Turkey

Paint, Coating, and Adhesive Manufacturing

 

 

 

Transitions Optical Limited

Subsidiary

Tuam, Co Galway

Ireland

Machinery and Equipment Manufacturing

 

 

 

Transitions Optical Distribution Limited

Subsidiary

Tuam

Ireland

Machinery and Equipment Manufacturing

 

 

 

PPG Industries (Korea) Ltd.

Subsidiary

Busan

Korea, Republic of

Paint, Coating, and Adhesive Manufacturing

 

 

 

PPG Luxembourg Finance S.aR.L.

Subsidiary

Munsbach

Luxembourg

Paint, Coating, and Adhesive Manufacturing

 

 

 

Ppg Industrial Do Brasil - Tintas e Vernizes

Subsidiary

Sumare, Sao Paulo

Brazil

Paint, Coating, and Adhesive Manufacturing

277.5

500

 

PPG PMC Japan Co Ltd

Subsidiary

Kobe

Japan

Paint, Coating, and Adhesive Manufacturing

 

 

 

Transitions Optical Philippines, Inc.

Subsidiary

Binan, Laguna

Philippines

Machinery and Equipment Manufacturing

 

 

 

Transitions Optical (Thailand) Ltd.

Subsidiary

Chon Buri

Thailand

Machinery and Equipment Manufacturing

 

 

 

PPG Industries Poland Sp. Zo.o.

Subsidiary

Warsaw

Poland

Paint, Coating, and Adhesive Manufacturing

 

 

 

PPG Daihan Packaging Coatings, Ltd.

Subsidiary

Anyang

Korea, Republic of

Paint, Coating, and Adhesive Manufacturing

 

 

 

PPG Deutschland Sales Services GmbH

Subsidiary

Hilden

Germany

Miscellaneous Wholesale

 

 

 

PPG Italia Sales & Services Srl

Subsidiary

Lainate, Milano

Italy

Paint, Coating, and Adhesive Manufacturing

 

 

 

TRIGA COLOR, a.s.

Subsidiary

Brno

Czech Republic

Miscellaneous Wholesale

 

 

 

Primalex a.s.

Subsidiary

Brasy

Czech Republic

Paint, Coating, and Adhesive Manufacturing

 

 

 

PPG Industries Fiber Glass Products Inc

Subsidiary

Shelby, NC

United States

Paper Product Manufacturing

 

 

 

PPG Coatings (Suzhou) Company Ltd.

Subsidiary

Suzhou, Jiangsu

China

Motor Vehicle Repair and Maintenance

 

 

 

PPG Industries New Zealand Limited

Subsidiary

Auckland

New Zealand

Paint, Coating, and Adhesive Manufacturing

 

 

 

PPG Industries Netherlands B.V.

Subsidiary

Wijchen

Netherlands

Paint, Coating, and Adhesive Manufacturing

 

 

 

Ppg Industries Europe

Subsidiary

 

 

 

 

 

 

PPG Industries Sweden AB

Subsidiary

Västra Frölunda, Västra Götaland

Sweden

 

25.9

23

 

 

 

PPG Industries, Inc.

 

Competitors Report

 

CompanyName

Location

Employees

Ownership

Akzo Nobel N.V.

Amsterdam, Netherlands

55,590

Public

Asahi Glass Co Ltd

Chiyoda-Ku, Japan

49,961

Public

Axiall Corp

Atlanta, Georgia, United States

6,000

Public

BASF SE

Ludwigshafen Am Rhein, Germany

111,614

Public

Berkshire Hathaway Inc.

Omaha, Nebraska, United States

288,500

Public

Carl Zeiss AG

Oberkochen, Germany

24,326

Private

Corning Incorporated

Corning, New York, United States

28,700

Public

E I Du Pont De Nemours And Co

Wilmington, Delaware, United States

70,000

Public

Evonik Industries AG

Essen, Germany

33,531

Public

Formosa Plastics Corporation

Kaohsiung, Taiwan

6,784

Public

GKN plc

Redditch, United Kingdom

40,335

Public

Guardian Industries

Auburn Hills, Michigan, United States

17,300

Private

HOYA CORPORATION

Shinjuku-Ku, Japan

35,130

Public

J M Huber Corp

Edison, New Jersey, United States

4,000

Private

Johns Manville Corporation

Denver, Colorado, United States

7,000

Private

Masco Corporation

Taylor, Michigan, United States

30,000

Public

Mitsui Chemicals, Inc.

Minato-Ku, Japan

12,846

Public

NIPPON PAINT CO., LTD.

Osaka-Shi, Japan

5,888

Public

Occidental Chemical Corporation

Dallas, Texas, United States

600

Private

Occidental Petroleum Corporation

Los Angeles, California, United States

12,300

Public

Olin Corporation

Clayton, Missouri, United States

4,100

Public

Owens Corning

Toledo, Ohio, United States

15,000

Public

Rhodia SA

Paris La Défense, France

34

Public

Sherwin-Williams Company

Cleveland, Ohio, United States

34,154

Public

The Dow Chemical Company

Midland, Michigan, United States

52,714

Public

The Valspar Corporation

Minneapolis, Minnesota, United States

9,800

Public

Westlake Chemical Corporation

Houston, Texas, United States

1,895

Public

 

 

 

 

PPG Industries, Inc.

Pittsburgh, Pennsylvania, United States, Tel: 412-434-3131, URL: http://www.ppg.com, Executives Page

Executives Report

 

Board of Directors

 

Name

Title

Function

 

Charles E. Bunch

 

Chairman And Chief Executive Officer

Chairman

 

Education:

Georgetown University, bachelor's (International Affairs)
Harvard University Graduate School of Business Administration, master's (Business Administration)

 

Stephen F. Angel

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. Stephen F. Angel is Independent Director of PPG Industries Inc., since December 9, 2010. He has been Chairman of the Board, President and Chief Executive Officer of Praxair, Inc., a global producer and distributor of atmospheric and process gases and high-performance surface coatings, since 2007. Before being named to his current position, Mr. Angel served as President and Chief Operating Officer of Praxair, Inc. from March to December 2006 and as Executive Vice President of Praxair, Inc. from 2001 to 2006. Prior to joining Praxair, Inc., he held executive positions at General Electric Company, including General Manager for GE’s industrial systems power equipment business from 1999 to 2001 and General Manager, marketing and sales, for GE’s transportation systems business from 1996 to 1999.

 

Age: 57

 

Education:

Loyola College, M (Business Administration)
North Carolina State University, B (Civil Engineering)

 

James G. Berges

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. James G. Berges is Independent Director of PPG Industries Inc., since October 19, 2000. He became a partner in Clayton, Dubilier & Rice, LLC, a private equity investment firm, in 2006. Prior to that, he was President of Emerson Electric Co. from 1999 until his retirement in 2005. Emerson Electric Co. is a global manufacturer of products, systems and services for industrial automation, process control, HVAC, electronics and communications, and appliances and tools. He is also Chairman of HD Supply, Inc. and Hussmann International, Inc. and a director of NCI Building Systems, Inc. and Atkore International, Inc. Mr. Berges served as a director of Diversey, Inc. from 2009 to 2010 and MKS Instruments, Inc. from 2002 to 2007 and as Chairman of Sally Beauty Holdings, Inc. from 2006 to 2012.

 

Age: 65

 

Education:

University of Notre Dame, BS (Electrical Engineering)

 

 

John V. Faraci

 

Board of Directors

Director/Board Member

 

 

Biography:

Mr. John V. Faraci has been appointed as Independent Director of PPG Industries, Inc., effective October 18, 2012. Mr. Faraci is chairman and CEO of International Paper Co., a position he has held since November 2003. International Paper, based in Memphis, Tenn. In 2003, Faraci was elected president and a director of International Paper, and he previously served as executive vice president and chief financial officer from 2000 to 2003. From 1999 to 2000, Faraci was the company's senior vice president - finance and chief financial officer. From 1995 to 1999, he was chief executive officer and managing director of Carter Holt Harvey Ltd., a former majority-owned subsidiary of International Paper located in New Zealand. Faraci is a member of the board of directors of United Technologies Corp. and the National Fish and Wildlife Foundation. He also serves on the board of the Moscow School of Management and is U.S. section chair for the U.S. - Brazil CEO Forum. He is a trustee of Denison University and the American Enterprise Institute.

 

Age: 63

 

Hugh Grant

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. Hugh Grant is Independent Director of PPG Industries Inc., since Sepember 15, 2005. He has been appiontewd as Chairman of the Board, President and Chief Executive Officer, Monsanto Company, a global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. He was named Executive Vice President and Chief Operating Officer of Monsanto Company at the time of an initial public offering in 2000 and remained in that position for the subsequent spin-off of the company in 2002. Mr. Grant was named to his current position in 2003.

 

Age: 54

 

Education:

International Management Centre, MBA
University of Edinburgh, MS
University of Glasgow, BS (Molecular Biology)

 

Victoria F. Haynes

 

Independent Director

Director/Board Member

 

 

Biography:

Dr. Victoria F. Haynes, Ph.D., is Independent Director of PPG Industries Inc., since October 16, 2003. She has served as the President and Chief Executive Officer of RTI International, which performs scientific research and development in advanced technologies, public policy, environmental protection, and health and medicine, since July 1999. In April 2011, Dr. Haynes announced that she will retire from RTI International upon the appointment of her successor. She was Vice President of the Advanced Technology Group and Chief Technical Officer of BF Goodrich Company from 1992 to 1999. Dr. Haynes is also a director of Nucor Corporation and Ziptronix, Inc. Dr. Haynes served as a director of Archer Daniels Midland Company from 2007 through 2011.

 

Age: 66

 

Education:

Boston University, PHD
Boston University, M
University of California, Berkeley, B (Chemistry)

 

Michele J. Hooper

 

Independent Director

Director/Board Member

 

 

Biography:

Ms. Michele J. Hooper is Independent Director of PPG Industries Inc., since 1995. In 2003, she co-founded, and became the Managing Partner of, The Directors’ Council, a private company that works with corporate boards to increase their independence, effectiveness and diversity. She was named to her current position in 2009. Ms. Hooper was President and Chief Executive Officer of Voyager Expanded Learning, a developer and provider of learning programs and teacher training for public schools, from 1999 until 2000. Prior to that, she was President and Chief Executive Officer of Stadtlander Drug Company, Inc., a provider of disease-specific pharmaceutical care from 1998 until Stadtlander was acquired in 1999. . She is also a director of AstraZeneca plc. and UnitedHealth Group Incorporated. She served as a director of Warner Music Group from 2006 to 2011.

 

Age: 61

 

Education:

University of Chicago, MBA
University of Pennsylvania, BA (Economics)

 

 

Robert Mehrabian

 

Independent Director

Director/Board Member

 

 

Biography:

Dr. Robert Mehrabian is Independent Director of PPG Industries Inc. He has been Chairman of the Board, President and Chief Executive Officer of Teledyne Technologies Inc., a provider of sophisticated electronic components, instruments and communication products, systems engineering solutions, aerospace engines and components and on-site gas and power generation systems, since 2000. He was President and Chief Executive Officer of Teledyne Technologies Inc. from its formation (as a spin-off of Allegheny Teledyne Inc.) in 1999 until 2000. He was Executive Vice President of Allegheny Teledyne Inc., a manufacturer of specialty metals, aerospace, electronics, industrial and consumer products, from 1998 until 1999. He is also a director of The Bank of New York Mellon Corporation.

 

Age: 71

 

Education:

Massachusetts Institute of Technology, DS
Massachusetts Institute of Technology, B

 

Martin H. Richenhagen

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. Martin H. Richenhagen is Independent Director of PPG Industries Inc., since September 1, 2007. He has been Chairman, President and Chief Executive Officer of AGCO Corporation, an agricultural equipment manufacturer, since 2004. From 2003 to 2004, Mr. Richenhagen was Executive Vice President of Forbo International SA, a Swiss flooring materials company. From 1998 to 2003, he was with CLAAS KgaA MbH, a German-based manufacturer of agricultural and forest machinery, serving as Group President from 2000 until his departure in 2003. Mr. Richenhagen served as a director of Phelps Dodge Corporation from 2006 until Phelps Dodge was acquired in 2007.

 

Age: 60

 

Education:

Friedrich-Wilhelms-Universitaet Bonn, M (Business Administration)
Universitat zu Koln

 

Robert Ripp

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. Robert Ripp is Independent Director of PPG Industries Inc., since March 1, 2003. He has been Director and Chairman of Lightpath Technologies, a manufacturer of optical lens and module assemblies for the telecom sector, since 1999. He served as Interim President and Chief Executive Officer of Lightpath from October 2001 to July 2002. He was Chairman and Chief Executive Officer of AMP Incorporated, an electrical products company, from 1998 until AMP was acquired in April 1999. He is also a director of insurance company, ACE Limited.

 

Age: 71

 

Education:

New York University, MBA
Iona College, B

 

Thomas J. Usher

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. Thomas J. Usher is Independent Director of PPG Industries Inc. He was elected non-executive Chairman of Marathon Oil Corporation in 2001. Marathon is a global oil and natural gas production and refining company based in Houston, Texas. Mr. Usher had been Chairman of the Board, Chief Executive Officer and President of United States Steel Corporation, producer of metal products, since 2001. He retired from the positions of Chief Executive Officer and President on September 30, 2004. He subsequently retired as Chairman of the Board of Directors on February 1, 2006. He served as Chairman of the Board and Chief Executive Officer of USX Corporation from 1995 until 2001. He is also a director of The PNC Financial Services Group, Inc. and H. J. Heinz Company.

 

Age: 70

 

Education:

University of Pittsburgh, PHD (Systems Engineering)
University of Pittsburgh, MS (Operations Research)
University of Pittsburgh, BS (Industrial Engineering)

 

David R. Whitwam

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. David R. Whitwam is Independent Director of PPG Industries Inc. He was Chairman of the Board and Chief Executive Officer of Whirlpool Corporation, a manufacturer and distributor of household appliances and related products, from 1987 until his retirement in 2004. Mr. Whitwam served as a director of Convergys Corporation from 2003 through 2009.

 

Age: 71

 

Education:

University of Wisconsin, BS with honors (Economics)

 

Jeff Yigdall

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Director, Glass and Process Engineerin...

Director/Board Member

 

 

 

Executives

 

Name

Title

Function

 

Charles E. Bunch

 

Chairman And Chief Executive Officer

Chief Executive Officer

 

Education:

Georgetown University, bachelor's (International Affairs)
Harvard University Graduate School of Business Administration, master's (Business Administration)

 

Brett Candler

 

Sales Zone Director, Automotive Refinish

Division Head Executive

 

 

Education:

Kelley School of Business at Indiana University Bloomington IN., BS (Marketing)

 

 

Michael Horton

 

President, PPG Asia/Pacific, VP, Automotive Refinish, Architectural Coatings, Asia/Pacific

Division Head Executive

 

 

 

Michael H. McGarry

 

Executive Vice President - Commodity Chemicals

Division Head Executive

 

 

Biography:

Mr. Michael H. McGarry is Executive Vice President of PPG Industries Inc., since September 01, 2012. Mr. McGarry held the positions of Vice President, Coatings, Europe and Managing Director, PPG Europe from July 2006 through June 2008 and the position of Vice President, Chlor-Alkali and Derivatives from March 2004 through June 2006. Mr. McGarry joined PPG in 1981 as an Engineer at the company's Lake Charles, La., chemicals complex. He progressed through assignments such as Market Development Manager, Silica Products; Operations Manager, Silicas, Thailand, Business Manager, Teslin sheet; and Product Manager in the Derivatives, Chlorine, Liquid and Dry Caustic Soda Businesses. Mr. McGarry was appointed General Manager, Chemicals, in 2000, Vice President, Chlor-Alkali and Derivatives in 2004; and Vice President, Coatings, and Managing Director, PPG Europe, in 2006. In his new position, he will join PPG's Operating Committee with responsibility for PPG's Commodity Chemicals reporting segment and chlor-alkali and derivatives business unit. Mr. McGarry also has responsibility for Corporate Environmental Health and Safety and Corporate Quality.

 

Age: 55

 

Education:

University of Texas at Austin, B (Mechanical Engineering)

 

Compensation/Salary:$442,500

Compensation Currency: USD

 

Cynthia A. Niekamp

 

Senior Vice President - Automotive OEM Coatings

Division Head Executive

 

 

Biography:

Ms. Cynthia A. Niekamp is Senior Vice President - Automotive Coatings of PPG Industries Inc. She previously served as President of BorgWarner’s TorqTransfer Systems business from 2004 until 2008. She started her career with General Motors, where she progressed through several production supervisory and engineering positions with the Delco Moraine division. She moved to France with General Motors as resident controller wheel brake systems, and returned to the United States in 1989 as plant manager, anti-lock braking systems, Delco Moraine division. From 1990 to 1995, Niekamp worked for TRW Automotive, Inc., where her last position was managing director, transportation systems. She then joined the Mead Corp. as vice president, corporate strategy and planning, and in 1998 was named president, specialty paper division. Following the 2002 merger of Mead with Westvaco Corp., Niekamp served as senior vice president, strategy and specialty operations, and then as senior vice president and chief financial officer for MeadWestvaco. She left in 2004 and joined BorgWarner, Inc., where she was president of the global TorqTransfer Systems business unit until 2008. She earned a bachelor's degree in industrial engineering from Purdue University and a Master of Business Administration degree from Harvard University.

 

Age: 53

 

Education:

Harvard University, MBA
Purdue University, BS (Industrial Engineering)

 

 

John Parran

 

Automotive Refinish, Director of Marketing

Division Head Executive

 

 

Education:

University of Pittsburgh (Economics)

 

 

Viktor R. Sekmakas

 

Executive Vice President, Industrial Coatings, President, PPG Europe

Division Head Executive

 

 

Biography:

Mr. Viktoras R. Sekmakas is Executive Vice President of PPG Industries Inc. Mr. Sekmakas earned a bachelor's degree in chemical engineering from the University of Illinois. Mr. Sekmakas held the position of President, PPG Asia Pacific from March 2009 until August 2011. In addition to serving as President, Asia/Pacific, Mr. Sekmakas held the position of Vice President Industrial Coatings from March 2010 through July 2010. He was appointed President, Asia Pacific in March 2009. Previously, Mr. Sekmakas, served as Vice President, Asia Pacific from July 2006 through February 2009, Managing Director, Coatings and General Manager Industrial Coatings – Asia from March 2005 through June 2006 and General Manager Asia Pacific Industrial Coatings from April 2001 through February 2005.

 

Age: 52

 

Education:

University of Illinois, B (Chemical Engineering)

 

Compensation/Salary:$442,500

Compensation Currency: USD

 

James Stutelberg

 

Vice President, Automotive OEM Coatings, Americas

Division Head Executive

 

 

Steve Zweig

 

Zone Sales Director

Division Head Executive

 

 

Robert Enzerra

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Principal

Senior Management (General)

 

 

Bruna Galati

View Email

Principal

Senior Management (General)

 

 

 

Aziz S Giga

 

Vice President

Senior Management (General)

 

 

 

Bryan Iams

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Vice President, Corporate Communications Executive

Senior Management (General)

 

 

Carolyn Ihrig

View Email

Principal

Senior Management (General)

 

 

 

Charles F Kahle

 

Chief Technology Officer

Senior Management (General)

 

 

Education:

University of Illinois, doctorate (Organic Chemistry)

 

 

Steve T Lampe

 

Vice President

Senior Management (General)

 

 

Education:

Pennsylvania State University, BS (Accounting)

 

 

De Leener

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Executive Officer

Senior Management (General)

 

 

Reginald Norton

 

Vice President

Senior Management (General)

 

 

Education:

Trinity College , University of Dublin, doctoral (Chemistry)

 

 

Mark J Orcutt

 

Operations, Vice President

Senior Management (General)

 

 

Education:

Lehigh University, BS (Economics)
Lehigh University, MBA

 

Sharon Piciacchio

 

Marketing, Vice President

Senior Management (General)

 

 

Paula Shepard

 

Vice President

Senior Management (General)

 

 

 

Jorge Steyerthal

 

International, Manufacturing, Vice President

Senior Management (General)

 

 

 

Donna Lee Walker

 

Finance, Vice President

Senior Management (General)

 

 

Education:

Robert Morris College, bachelor's (Business Administration)
Robert Morris College, master (Taxation)

 

 

Laura Andrews

 

Operations Analyst

Operations Executive

 

 

Gregory Benckart

 

Vice President Automotive Refinish

Operations Executive

 

 

Education:

College of Wooster, bachelor's (Economics)
Vanderbilt University, MBA

 

 

Ed Fraser

 

Operations Manager

Operations Executive

 

 

Joe Pinto

 

Director of Operations

Operations Executive

 

 

John Richter

 

Vice President, Operations, Coatings, Asia/Pacific

Operations Executive

 

 

 

Vincent Robin

 

Vice President Automotive Coatings, Asia Pacific

Operations Executive

 

 

Don Stump

 

Operations, Control Engineer

Operations Executive

 

 

Rob Vugrnick

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Operations Planning Manager

Operations Executive

 

 

Diane M Kappas

 

Vice President Environment, Health and Safety

Environment/Safety Executive

 

 

Terry Messenger

 

Safety Specialist, Engineer

Environment/Safety Executive

 

 

Alan Phelan

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Safety Manager

Environment/Safety Executive

 

 

Mark Rhoads

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Safety Manager, Facility Security Officer

Environment/Safety Executive

 

 

Mike Beers

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Global Business Manager, Total Service Solutions, Chemical Management

Administration Executive

 

 

Daniel Reidy

 

Administrator

Administration Executive

 

 

David Roberts

 

Business Manager, Phosgene Derivatives

Administration Executive

 

 

 

Anne Foulkes

 

Assistant General Counsel and Corporate Secretary

Company Secretary

 

 

Education:

The Dickinson School of Law, JD
Tufts University, bachelor's

 

 

Michal Abusada

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Directeur Financier

Finance Executive

 

 

Sheryl Brillhart

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Finance

Finance Executive

 

 

J Clifton

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Finance

Finance Executive

 

 

Maryann Cluley

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Finance Executive

Finance Executive

 

 

 

Charles Curti

 

Director Finance and Business Plannning Industrial Coatings

Finance Executive

 

 

Benjamin Frey

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Manager Financial Services

Finance Executive

 

 

Deaundre Greg-Brown

 

Manager of Finance

Finance Executive

 

 

Muharrem Guder

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Director, Finance and Accounts

Finance Executive

 

 

William Krall

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Director, Financial Applications and C

Finance Executive

 

 

 

Kip Leckey

 

Financial Analyst - External Reporting

Finance Executive

 

 

 

David Lemley

 

Director Financial Reporting

Finance Executive

 

 

Doug Mansfield

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Financial Analyst

Finance Executive

 

 

Jonathon Mcawley

 

Director Benefits Investment and Financing

Finance Executive

 

 

David B. Navikas

 

Senior Vice President of Strategic Planning and Corporate Development

Finance Executive

 

 

Biography:

Mr. David B. Navikas is Chief Financial Officer, Senior Vice President - Finance of PPG Industries Inc. He is no longer Chief Financial Officer, Senior Vice President - Finance of the Company effective August 1, 2013. Prior to joining PPG, Navikas had 22 years of experience with Deloitte & Touche, including 13 years as a partner. He earned a bachelor’s degree in business from Purdue University and a master’s in accounting from Syracuse University. Mr. Navikas held the position of Vice President and Controller from March 2000 until June 2011.

 

Age: 62

 

Education:

Syracuse University, M (Accounting)
Purdue University, B (Business)

 

Compensation/Salary:$544,167

Compensation Currency: USD

 

John Panza

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Finance

Finance Executive

 

 

Frank Rabough

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Finance Executive Sales Executive Purc

Finance Executive

 

 

Bill Sante

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Director Finance and Accounts

Finance Executive

 

 

Frank S. Sklarsky

 

Executive Vice President, Chief Financial Officer

Finance Executive

 

 

Biography:

Mr. Frank S. Sklarsky is Executive Vice President - Finance of PPG Industries Inc. He was appointed as Executive Vice President - Finance of the Company effective April 15, 2013. Most recently, Sklarsky was executive vice president and chief financial officer, Tyco International, Ltd., a global provider of security, fire protection and flow control solutions with revenues that exceeded $17 billion. Prior to joining Tyco, Sklarsky served as executive vice president and chief financial officer at both Eastman Kodak Co. and ConAgra Foods, Inc. Previously, he spent 20 years with Chrysler in a series of senior financial leadership roles. He also held finance positions with Dell, Inc., after beginning his career with Ernst & Young. Sklarsky is a member of the board of directors of Harman International Industries, Inc., and of Rochester Institute of Technology. He holds a bachelor's degree in accounting from Rochester Institute of Technology and an MBA from Harvard Business School, and he is a certified public accountant.

 

Education:

Harvard University, MBA
Rochester Institute of Technology, BS (Accounting)

 

James Walsh

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Manager, Financial Reporting

Finance Executive

 

 

Melissa Wills

 

Director, Global Shared Financial Services

Finance Executive

 

 

Ross Zeigler

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Financial Analyst, Consolidations

Finance Executive

 

 

Lori Armendariz

 

Senior Auditor

Accounting Executive

 

 

Mark Gilbert

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General Accounting Specialist

Accounting Executive

 

 

Tori Hinde

 

Senior Auditor

Accounting Executive

 

 

 

Rafael Munoz

 

Staff Auditor

Accounting Executive

 

 

Amanda Shields

 

Staff Auditor

Accounting Executive

 

 

John Vlahos

 

Finance Specialist - Accounts Payables

Accounting Executive

 

 

Nate Wahl

 

Account Coordinator

Accounting Executive

 

 

Richard Del Bene

 

Manager Payroll Tax Compliance

Corporate Tax Executive

 

 

Johann Kolling

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Vice President, Tax Administration

Corporate Tax Executive

 

 

Education:

University of Detroit Mercy, bachelor's (Accounting)
Wayne State University Law School, JD

 

 

Robert Mikita

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Manager Canadian Tax

Corporate Tax Executive

 

 

Eric K. Thiele

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Treasurer

Treasurer

 

 

Biography:

Erics depth of experience and knowledge of PPGs businesses and finance organization will help him serve the company well as treasurer particularly in light of continued global economic uncertainty Navikas said. In addition we thank Aziz for his significant contributions to PPG in numerous leadership positions during his 35-year career. Among his many achievements Aziz provided important leadership and guidance to PPG during the severe economic downturn starting in 2008. His efforts were instrumental in positioning PPG for success. We congratulate him on an exemplary career and wish him and his family the very best. Thiele joined PPG in 1995 and advanced through positions of increasing responsibility such as director financial services aircraft transparencies; director financial reporting coatings businesses; director finance and planning automotive coatings and director finance and chief financial officer PPG Asia Pacific. He earned a Bachelor of Arts in economics from Allegheny College and a Master of Business Administration from the University of Pittsburgh.

 

William Hernadez

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Vice President Controller

Controller

 

 

Jim Beatty

 

Human Resources Compensation Consultant

Benefits & Compensation Executive

 

 

Karen Rathburn

 

Director of Payroll and Benefits

Benefits & Compensation Executive

 

 

Darla Stepp

 

Assistant To Director of Payroll and Benefits

Benefits & Compensation Executive

 

 

Harvette Dixon

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Director, Human Resources

Human Resources Executive

 

 

 

Peter Garber

 

Manager of Employee Relations

Human Resources Executive

 

 

 

Greg Goodman

 

Senior Performance Analyst

Human Resources Executive

 

 

 

Diana Gronholm

 

Human Resources Manager

Human Resources Executive

 

 

 

Tony Hartman

 

Human Resources

Human Resources Executive

 

 

J Craig Jordan

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Vice President Human Resources

Human Resources Executive

 

 

 

Laura Oblich

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Contract Recruiter

Human Resources Executive

 

 

Vicky Parker

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Human Resources Director

Human Resources Executive

 

 

Shannon Pelissero

 

Supervisor College Recruiting

Human Resources Executive

 

 

 

Casey Penney

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Human Resources Executive

Human Resources Executive

 

 

Warren Stough

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Human Resources Executive

Human Resources Executive

 

 

Roger Young

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Director, Human Resources, Asia-Pacific

Human Resources Executive

 

 

Kelly Wellinger

 

Training Associate

Training Executive

 

 

 

Tom Deutsch

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Director, Logistics and Customer Service, Chlor-Alkali and Derivatives

Customer Service Executive

 

 

 

James Do

 

Director Customer Support

Customer Service Executive

 

 

Diane Rogers

 

Manager Enterprise Excellence

Customer Service Executive

 

 

Susan Wind

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Customer Service Analyst I-Oracle Appl

Customer Service Executive

 

 

Jim Bartholomew

 

Sales Representative

Sales Executive

 

 

James Beckham

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Sales Representative

Sales Executive

 

 

Brent Brown

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Aerospace Account Manager

Sales Executive

 

 

 

Lenna Edgos

 

Sales & Marketing Manager

Sales Executive

 

 

 

Trina Harris

 

National Accounts

Sales Executive

 

 

Alison Martin

 

Product Manager - National Accounts Paint

Sales Executive

 

 

Teresa Masotti

 

Territory Manager, Greater Toronto Area Sales

Sales Executive

 

 

Jim Mcbrayer

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Sales Director

Sales Executive

 

 

Lee Muse

 

Industrial Sales Representative

Sales Executive

 

 

Deron Patterson

 

International Sales Manager

Sales Executive

 

 

John Reddinger

 

Account Manager

Sales Executive

 

 

 

Melanie Rice

 

Territory Manager, South-Central Ontario Sales

Sales Executive

 

 

Laurel Rodicks

 

Sales and Marketing Development Site Manager

Sales Executive

 

 

Jan Rogan

 

Architectural Services Manager

Sales Executive

 

 

 

Wiley Samson

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Account Manager

Sales Executive

 

 

Ann Wommack

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Manager

Sales Executive

 

 

Patricia Athey

 

International Marketing Communications and Licensing Manager

International Executive

 

 

Kevin D Braun

 

Vice President, Industrial Coatings - Americas

International Executive

 

 

Education:

University of Pittsburgh, bachelor's (Industrial Engineering)
Capital University, MBA

 

Randy Brown

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Global Technical Manager Wood Coatings

International Executive

 

 

Dave Garson

 

Global Infrastructure Services

International Executive

 

 

Amy Molenda

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Director Global Marketing

International Executive

 

 

 

Bryan Newman

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Manager, Export Marketing

International Executive

 

 

 

Phillip Stavor

 

Senior Project Manager Global Information Technology

International Executive

 

 

Carla Torquato

 

Global Wood Marketing Manager

International Executive

 

 

David Vignovic

 

Director Global Supply Chain, Pmc

International Executive

 

 

Barry Wolf

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Global Technical Servie and N America Market Development Specialist

International Executive

 

 

Sue Banas

 

Director E-Commerce

E-Commerce Executive

 

 

Angela Behrens

 

Marketing Communications Coordinator

Marketing Executive

 

 

 

James Bogdan

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Manager, Sustainability Marketing Initiatives

Marketing Executive

 

 

Bradley P. Boone

 

Market Manager, Residential Segment

Marketing Executive

 

 

Joanne Currie

 

Canadian Marketing Manager

Marketing Executive

 

 

Richard Domitrz

 

Marketing Manager

Marketing Executive

 

 

Bella Fedder

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Marketing Manager

Marketing Executive

 

 

Chris Finger

 

Marketing Representative

Marketing Executive

 

 

 

Wayne Gonzalez

 

Marketing Manager

Marketing Executive

 

 

 

Carlie Keller

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Marketing Manager

Marketing Executive

 

 

Patrick J Kenny

 

Vice President Corporate Marketing

Marketing Executive

 

 

Education:

Kelley School of Business, bachelor's (Marketing)
University of Pittsburgh, MBA

 

 

Sheila Leranth

 

Colour Designer and Colour and Surface Design Team

Marketing Executive

 

 

Mary A Mc Collough

 

Marketing Executive

Marketing Executive

 

 

Amanda Mcfadden

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Social Media Specialist

Marketing Executive

 

 

Minerva Teeler

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Marketing Manager

Marketing Executive

 

 

Jo Thompson

 

European Marketing Manager

Marketing Executive

 

 

Biography:

Dave and his team at PMA have provided the PPG Refinish business with the highest level of marketing support - including exceptional project management clarity on market research technique and correct fit of research firm to our business needs. Our project is global in scope and Dave not only provided attention to detail focus on results and planning / organizational skills that exceeded our expectations but his adoption to our global business and reach into market contacts has been outstanding. Dave is one of the Refinish team - worldwide and we will continue to call upon his market strengths now and into the future.

 

Vedagiri Velpari

 

Marketing Development Power Generation

Marketing Executive

 

 

 

Nelson Vinn

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Marketing Manager

Marketing Executive

 

 

Simon Walters

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Marketing Manager - Uk, Ireland and Scandinavia

Marketing Executive

 

 

Roger Lindel

 

Corporate Communications

Corporate Communications Executive

 

 

Jeremy Neuhart

 

Manager - Corporate Public Relations

Corporate Communications Executive

 

 

 

Betsy Bialosky

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Manager, Corporate Public Relations

Public Relations Executive

 

 

Vince Morales

 

Vice President of Investor Relations

Investor Relations Executive

 

 

Education:

Robert Morris University, bachelor's (Accounting)
the Ohio State University, MBA

 

 

Werner Baer

 

Information Technology

Information Executive

 

 

Education:

University of St. Gall, BS (Business Administration)

 

Jason Casciato

 

Systems Analyst

Information Executive

 

 

 

Michael Colaianne

 

Senior Systems Analyst

Information Executive

 

 

 

Brent Cramer

 

Project Manager Information Technology

Information Executive

 

 

Paul Cutlip

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Information Technology Manager

Information Executive

 

 

 

Al Doutt

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Manager Information Systems

Information Executive

 

 

Donn Drummond

 

Health Information Management Manager

Information Executive

 

 

Michael Dudash

 

Information Technology Security Specialist

Information Executive

 

 

 

Megan Farkasovsky

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Information Technology Manager

Information Executive

 

 

Matthew Galeza

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Information Technology Manager

Information Executive

 

 

 

Doug Glance

 

Manager, Senior Sourcing Agent € Information Technology Services

Information Executive

 

 

 

David Hartsell

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Director of Information Technology

Information Executive

 

 

Dawn Helfferich

 

Systems Analyst

Information Executive

 

 

 

Linda Holmes

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Information Technology

Information Executive

 

 

 

Dan Hough

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Cad Operator

Information Executive

 

 

Dave Lamoureaux

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Director-Information Technology

Information Executive

 

 

Amy Lee

 

Senior Systems Analyst

Information Executive

 

 

Christina Liberto

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Manager Information Systems

Information Executive

 

 

Mary Loera

 

Senior Systems Analyst

Information Executive

 

 

 

Kelly Mccullough

 

Senior Systems Analyst

Information Executive

 

 

 

Charles Mcdowell

 

Systems Analyst

Information Executive

 

 

Lisa Moniodes

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Information Systems, Information Technology Technology Professional

Information Executive

 

 

Kurt Muenz

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Director, Information Technology

Information Executive

 

 

 

Tim Orourke

 

Systems Analyst Ii

Information Executive

 

 

Dave Owoc

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Mis Director

Information Executive

 

 

Kate Puhl

 

Project Manager, It

Information Executive

 

 

Marylee Richner

 

Information Specialist

Information Executive

 

 

Clive Satchelle

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Supervisor Information Systems

Information Executive

 

 

Jeanne Small

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Information Technology Project Manager

Information Executive

 

 

Frank Smith

 

Snr Information Technology Inf Manager

Information Executive

 

 

Jennifer Smith

 

Information Technology Project Manager

Information Executive

 

 

Scott Snavely

 

Senior Lead of Information Technology

Information Executive

 

 

 

Tom Soforic

 

Project Manager, Data Center

Information Executive

 

 

Roberta Wainwright

 

Information Technology Manager

Information Executive

 

 

Douglas Watkins

 

Systems Software Analyst

Information Executive

 

 

 

Ryan Young

 

Senior Manager Information Technology Software Applications

Information Executive

 

 

Cliff Bell

 

Network Administrator

Network Management Executive

 

 

Amanda Florian

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Network Manager

Network Management Executive

 

 

Andy Ganz

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Network Manager

Network Management Executive

 

 

Ken Krutilla

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Network Analyst

Network Management Executive

 

 

Ron Richards

 

Network Analyst

Network Management Executive

 

 

Erica Volkman

 

Web Designer

Network Management Executive

 

 

Cathy Adsit

 

Process and Technology

Engineering/Technical Executive

 

 

Calvin Blevins

 

Manager Design Engineering-Glass

Engineering/Technical Executive

 

 

Rob Brooks

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Process Control Manager

Engineering/Technical Executive

 

 

Ryan Burney

 

Engineer Rotating Equipment

Engineering/Technical Executive

 

 

Mark Cancilla

 

Global Director - Aerospace Coatings

Engineering/Technical Executive

 

 

 

David Couvillon

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Instrument Engineer

Engineering/Technical Executive

 

 

Patrick Dowlin

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System Software Analyst Ii

Engineering/Technical Executive

 

 

Todd Esiline

 

Quality Engineer

Engineering/Technical Executive

 

 

Larry Fitzgerald

 

Director, Strategic Planning-Technology

Engineering/Technical Executive

 

 

 

Erwin Frey

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Professional Engineer

Engineering/Technical Executive

 

 

Luann Hamilton

 

General, Technical

Engineering/Technical Executive

 

 

Oliver Hamley

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Senior Manufacturing Engineer

Engineering/Technical Executive

 

 

 

Nathaniel Hazelton

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Optical Properties and Color Laboratory

Engineering/Technical Executive

 

 

Steve Jefferies

 

Technology Director

Engineering/Technical Executive

 

 

Jim Johnston

 

Enterprise Architecture & Advanced Tech

Engineering/Technical Executive

 

 

 

Anne Kinsey

 

Data Administrator, Strategic Planning

Engineering/Technical Executive

 

 

Gary Kirsch

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Engineer At Glass Technology Center

Engineering/Technical Executive

 

 

Thomas Leathers

 

Engineer

Engineering/Technical Executive

 

 

John Mcconnell

 

Superintendant Engineer

Engineering/Technical Executive

 

 

Scott Perigo

 

Programmer, Analyst

Engineering/Technical Executive

 

 

 

Jeffrey Raver

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Programmer Analyst

Engineering/Technical Executive

 

 

 

Leland Rosenberger

 

Project Engineer, Management

Engineering/Technical Executive

 

 

Taufiq Shamim

 

Corporate Engineering

Engineering/Technical Executive

 

 

Mary Shinsky

 

Senior Technology Analyst

Engineering/Technical Executive

 

 

Mike Sims

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Associate Process Engineer

Engineering/Technical Executive

 

 

William Siskos

 

Senior Engineering Associate

Engineering/Technical Executive

 

 

Michael Stadfield

 

System Administrator

Engineering/Technical Executive

 

 

 

Tom Thornton

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Database Administrator

Engineering/Technical Executive

 

 

Mary Tortorelli

 

Database Administrator

Engineering/Technical Executive

 

 

Edward Tuggle

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Electrical Engineer

Engineering/Technical Executive

 

 

Jeff Warzynski

 

Senior Applications Engineer

Engineering/Technical Executive

 

 

Brent Wright

 

Director, Transparencies

Engineering/Technical Executive

 

 

Jeff Yigdall

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Director, Glass and Process Engineerin...

Engineering/Technical Executive

 

 

Peter Crooks

 

Telecommunications Manager

Telecommunications Executive

 

 

Mark Macala

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Telecommunications Analyst Internet Support Team

Telecommunications Executive

 

 

Bob Swoger

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Telecommunications Executive

Telecommunications Executive

 

 

Grace Bello

 

Research Project Che

Research & Development Executive

 

 

Razmik Boghossian

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Scientist

Research & Development Executive

 

 

Federico Olivares

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Research

Research & Development Executive

 

 

Kevin Woolerton

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Scientist

Research & Development Executive

 

 

 

Shui Ye

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Research Associate Professor Director Molecular Re

Research & Development Executive

 

 

Lisa Alo

 

Graphic Designer

Product Management Executive

 

 

 

Charles Banachoski

 

Senior Graphic Designer

Product Management Executive

 

 

Robert Deneau

 

Product Manager

Product Management Executive

 

 

Tom Dougherty

 

Director Brand Marketing - Dealer & Store Brands

Product Management Executive

 

 

 

Mike L Rupert

 

Flat Glass New Product Manager

Product Management Executive

 

 

Biography:

I worked closely with Dave in the design of a market research study for a new architectural glass coating. Dave developed the marketing research plan and the tactical elements necessary for conducting a nation-wide preference test with building design professionals. He was also responsible for the data analysis and final report generation. Dave presented the findings accurately and in an easy to understand manner. Our time frame was very tight and Dave did an excellent job in keeping the project on schedule. I would highly recommend Dave to anyone needing professional assistance in creating and conducting marketing research studies and data analysis.

 

Norm Angrove

 

National Business Development & Business Solutions Manager

Business Development Executive

 

 

Howard Combs

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Director, Business Development and Support, Ppg Architectural Finishes

Business Development Executive

 

 

Jeffrey C. Davies

 

Vice President, Corporate Development

Business Development Executive

 

 

 

Douglas Eng

 

Business Development Manager

Business Development Executive

 

 

Anup Jain

 

Vice President Strategic Planning and Corporate Development

Business Development Executive

 

 

 

Laura Lanza

 

Business Development Manager

Business Development Executive

 

 

 

Scott Mabey

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Supply Chain Business Analyst

Business Development Executive

 

 

Thomas Molenda

 

Manager of Strategic Planning

Planning Executive

 

 

Gary Armbrust

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Senior Counsel Labor and Employment

Legal Executive

 

 

Ross Bass

 

Compliance Manager

Legal Executive

 

 

Glenn E. Bost

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Senior Vice President, General Counsel

Legal Executive

 

 

Biography:

Mr. Glenn E. Bost, II, is Senior Vice President, General Counsel of PPG Industries Inc. Previously, Mr. Bost served as Associate General Counsel, Operations from July 2005 through June 2006 and Assistant General Counsel, Operations from September 2000 through June 2005. Mr. Bost joined PPG's legal department in Pittsburgh in 1985, working with finance and transactions, and then served as assistant counsel in the international law section supporting the Asia/Pacific region and Canada. He was promoted in 1991 to senior counsel, environment, health and safety, and in 1995 to general counsel, PPG Europe, for which he relocated to Paris. Bost returned to Pittsburgh in 1997 as corporate counsel, transactions. In 2000, he was named assistant general counsel, operations, with initial responsibility for PPG's commercial, labor and employment, and European attorneys, and responsibility added later for the company's litigation; environment, health and safety; and intellectual property attorneys. Bost was appointed associate general counsel, operations, in 2005, legal support for PPG's corporate operations, and he was named vice president in 2006. Prior to joining PPG, Bost was an attorney with the firm Thorp, Reed & Armstrong in Pittsburgh. He earned a bachelor's degree from Cornell University, a law degree from The Ohio State University, where he made Law Review, and a certificate in international law from the Parker School of Foreign and Comparative Law, Columbia University.

 

Age: 61

 

Education:

Ohio State University, JD
Cornell University, B

 

Craig Davis

 

Ehs Compliance

Legal Executive

 

 

Rich Gallman

 

Lawyer

Legal Executive

 

 

Jamie Irving

 

Assistant Counsel

Legal Executive

 

 

Donald Palladino

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Attorney

Legal Executive

 

 

Stefan Pawlikowski

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Professional Consultant, Legal, Medical

Legal Executive

 

 

Leo Rideaux

 

Second Shift Production Facilitator

Manufacturing Executive

 

 

Stephen T Lampe

 

Vice President Corporate Purchasing and Distribution

Logistics Executive

 

 

Cody Poppaw

 

Supervisor of Transportation

Logistics Executive

 

 

Ian Taylor

 

Warehouse Supervisor

Logistics Executive

 

 

Floyd Wray

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Traffic Manager

Logistics Executive

 

 

Ludwig Ditrich

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Facilities Manager

Facilities Executive

 

 

Bob Leif

 

Bean Group Realtor

Facilities Executive

 

 

Richard N Marks

 

Facilities

Facilities Executive

 

 

Jim Meadows

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Maintenance Manager

Facilities Executive

 

 

Shirley Cierczynski

 

Supply Chain Analyst I

Purchasing Executive

 

 

Richard C. Elias

 

Senior Vice President - Optical and Specialty Materials

Purchasing Executive

 

 

Biography:

Mr. Richard C. Elias is Senior Vice President - Optical and Specialty Materials of PPG Industries Inc. He joined PPG in 1975 as Chemist at the company's Allison Park, Pa., coatings research and development center. He advanced through several product-development assignments, becoming program manager for photochromic lenses in 1989. Elias was named Vice President of Sales and Marketing when Transitions Optical, Inc., was established in 1990, and he became that business's President in 1995 and its Chief Executive Officer in 2007. In 1998, he was named General Manager of optical products for PPG, and he was elected Vice President, Optical Products, in early 2000.

 

Age: 59

 

Education:

Marquette University, Master's (Business Administration)
University of South Carolina, BS (Chemistry)

 

 

Lynne Farabaugh

 

Supply Chain Analyst Ii

Purchasing Executive

 

 

 

Michael Markun

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Sourcing Analyst

Purchasing Executive

 

 

 

Duanna Taylor

 

Central Purchasing Agent

Purchasing Executive

 

 

Versie Adams

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Quality Manager

Quality Executive

 

 

Esther Liggio

 

Vice President and Senior Partner

Partner

 

 

Lynne D Schmidt

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Vice President Government and Community Affairs

Government/Public Affairs Executive

 

 

Education:

Bowling Green State University, bachelor´s (Psychology And Mathematics)
University of Pittsburgh, JD

 

 

Ebanic Mayweather

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General Medical

Medical Specialist

 

 

Keith Speaks

 

Licensed Mortgage Agent

Key Banking Contact

 

 

Dennis Alberta

 

Electronic Processing Manager

Other

 

 

Ryan Aspy

 

Market Development Manager

Other

 

 

Biography:

We worked with Dave on a new product we were bringing to market. This product represented a huge leap in technology over what was currently being used in the industry. So much so that OEM customers were having a hard time clearly understanding the value this product would bring to their end users simply because there was nothing of its type currently being used. We had strong data to show our customers how the technology would perform and we had great demo units that allowed them to visualize what the technology would do. However that did little to give them insight into how their customers would react to it. Therefore Dave directed a survey effort of end users focused around getting their input on how favorably they would respond to this technology and how they believed it would improve their customer experience. Daves expertise in this area was very evident. His leadership enabled us to devise a professional survey aimed at achieving our strategic goals. The result: we now have hard data representing end user preferences that not only allow our customers to make more informed decisions but also demonstrate to them our depth of knowledge of this overall market. I would highly encourage working with Dave on a project of this type.

 

Richard A. Beuke

 

Vice President, Flat Glass

Other

 

 

Education:

Columbia University Business School, executive management
Georgia Southern University, bachelor's

 

 

Harrison Blanton

 

Manager

Other

 

 

 

Stanton Bockoven

 

Director, Manager, Department Head

Other

 

 

Gregory Brover

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Eh&S and Services Manager

Other

 

 

Renee Burke

 

Manager

Other

 

 

 

Andrew Capozzi

 

Market Manager

Other

 

 

Neil Carlitz

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Pilot

Other

 

 

Andrew Carroll

 

Market Manager

Other

 

 

Joa Choy

View Email

M and A Secretary

Other

 

 

Gary Danowski

 

Vice President, Automotive Refinish, EMEA

Other

 

 

Education:

Ashland University, MBA
Gannon University, mechanical engineering

 

 

Lawrence Depaolis

 

Director Value Focus

Other

 

 

Joel Fechter

View Email

Local Agent

Other

 

 

John Furar

 

Project Manager

Other

 

 

John Gauthier

 

Enterprise Excellence Manager

Other

 

 

Barry N Gillespie

 

Vice President Aerospace

Other

 

 

Education:

Arizona State University, BS (Electrical Engineering)
San Francisco State University, BA (Philosophy)

 

Lisa Goetz

View Email

Assistant of Sharon Piciacchio, Ppg Industries, Inc.

Other

 

 

Jean-Marie Greindl

 

Vice President Automotive OEM Coatings, Europe

Other

 

 

 

Jeff Griffin

 

Collision Segment Manager

Other

 

 

 

Janelle Howard

View Email

Contracting Specialist

Other

 

 

James Howrylak

 

Classification Analyst

Other

 

 

 

Doug Hunt

View Email

Worker

Other

 

 

Karen Ignaski

 

Ae For Vicky Holt Ppg Industries - Hq

Other

 

 

Alfred Jealouse

 

Ppg Industries Czech Republic

Other

 

 

Diane Kallet

 

Project Manager

Other

 

 

 

Thomas P Kerr

View Email

Vice President Fiber Glass

Other

 

 

Kathy Kiestler

 

Director, Manager, Department Head

Other

 

 

Amanda Kirkham

 

Editorial Coordinator

Other

 

 

Linda Kleman

View Email

Oracle Project Team Member

Other

 

 

 

Timothy M Knavish

 

Vice President Automotive OEM Coatings, Americas

Other

 

 

 

Chuck Lavalle

 

Project Manager

Other

 

 

Dan Lemansky

 

Manager

Other

 

 

 

Michael Linssen

 

Po, Inv Implementation Analyst

Other

 

 

 

Kristena Macala

View Email

Messaging Analyst

Other

 

 

 

Thomas S Mauck

 

Vice President Protective and Marine Coatings

Other

 

 

Thomas E. Maziarz

 

Vice President, Stores and Dealers, Architectural Coatings, North America

Other

 

 

Jim Mcfady

View Email

Manager

Other

 

 

Kathy Mcmahon

 

Sourcing Coordinator

Other

 

 

David P Morris

 

Vice President Aerospace Coatings and Sealants

Other

 

 

Fran Nelson

 

Project Manager

Other

 

 

Carolyn Nicastro

 

Senior Project Leader

Other

 

 

 

Gerard Noce

 

Manager, Strategic Sourcing-Packaging and Services

Other

 

 

Philip Obrist

 

Special Projects Team

Other

 

 

John R. Outcalt

 

Vice President-Automotive Refinish

Other

 

 

Education:

Baldwin Wallace College, bachelor's (Business Administration)
Baldwin-Wallace College, bachelor's (Business Administration)

 

 

Douglas S Pegg

 

Vice President Packaging Coatings

Other

 

 

Education:

Queens University, bachelor's (Chemical Engineering)

 

 

Rob Porto

View Email

Manager Strategic Sourcing Electricity

Other

 

 

 

Larry Reece

View Email

Assistant Cubmaster

Other

 

 

John Shaffer

View Email

Zone Manager For Industrial Coatings Business

Other

 

 

Jason Shanafelt

 

Manager, Strategic Sourcing € Packaging

Other

 

 

Christine Siess

View Email

Sourcing Agent

Other

 

 

Scott B Sinetar

 

Vice President Architectural Coatings, North America

Other

 

 

Amy Slone

 

Manager Strategic Sourcing Eh and S

Other

 

 

 

Marcella Smith

 

Solventborne Development

Other

 

 

Cory Steffek

View Email

Manager

Other

 

 

Mark Styers

View Email

East Zone Representative

Other

 

 

Mark Tabish

View Email

Manager

Other

 

 

 

Gene Uliver

View Email

Manager

Other

 

 

Ram Vadlamannati

View Email

Vice President Architectural Coatings EMEA

Other

 

 

Tom Vedova

View Email

Field Sourcing

Other

 

 

Jim Walters

View Email

Manager, Sap Business Intelligence Reporting

Other

 

 

Pauline Yuen

 

Vice President Refinish Coatings, Asia, and Architectural Coatings, China

Other

 

 

Joseph Zyra

View Email

Manager Ee Savings Plans

Other

 

 

 

PPG Industries, Inc.

 

 

 

Significant Developments

 

 

 

PPG Industries Inc Announces Quarterly Dividend

Oct 18, 2013


PPG Industries Inc declared a regular quarterly dividend of 61 cents per share, payable December 12 to shareholders of record November 11.

PPG Industries Inc Announces Agreement To Divest Ownership Interest In Transitions Optical Joint Venture To Essilor International SA

Jul 29, 2013


PPG Industries Inc announced that it has reached an agreement to divest 51% interest in Transitions Optical to Essilor International, which currently holds a 49% interest in the venture. Transitions Optical is a global supplier of photochromic lenses and a consolidated subsidiary of PPG. Essilor will also enter into multi-year agreements with PPG for continuing supply of optical dyes and research and development services and acquire PPG's optical sunlens business. The transaction reflects an enterprise value of approximately $3.4 billion, with PPG receiving cash at closing of $1.73 billion pre-tax or approximately $1.5 billion after-tax, subject to certain post-closing working capital and net debt adjustments. The transaction is expected to close in the first half of 2014.

PPG Industries Inc Announces Executive Appointments

Jul 19, 2013


PPG Industries Inc announced that Frank S. Sklarsky, Executive Vice President, Finance, will be appointed Executive Vice President and Chief Financial Officer. David B. Navikas, Senior Vice President, Finance and Chief Financial Officer, will be appointed Senior Vice President, Strategic Planning and Corporate Development.

PPG Industries Inc Announces Quarterly Dividend of $0.61 Per Share

Jul 18, 2013


PPG Industries Inc announced that it declared a regular quarterly dividend of $0.61 per share, payable September 12, 2013 to shareholders of record August 12, 2013.

Argex Titanium Inc Announces Purchase Agreement With PPG Industries Inc

Jun 27, 2013


Argex Titanium Inc announced that it has entered into a long-term supply agreement with PPG Industries Inc relating to titanium dioxide (TiO2) pigment suitable for various end-use applications by PPG. PPG is the coatings and specialty products company, serving customers in construction, consumer products, industrial and transportation markets and aftermarkets. The supply agreement and a concurrently executed research services agreement between PPG and Argex, whereby PPG will provide continued research and development support to both optimize Argex pigment grade TiO2 for paints and coatings and combine PPG's coatings technology and expertise with Argex's TiO2 proprietary processing technology, replace the collaboration agreement signed by the two parties that was announced in April, 2012.

PPG Industries Inc Approves Quarterly Dividend Increase To 61 Cents Per Share

Apr 18, 2013


PPG Industries Inc announced that it approved a 2 cents per-share increase in the Company`s dividend, declaring a regular quarterly dividend of 61 cents per share, payable June 12 to shareholders of record May 10.

PPG Industries Inc To Acquire Certain Assets Of Deft Incorporated

Apr 11, 2013


PPG Industries Inc announced that it has reached a definitive agreement to acquire certain assets of Deft Incorporated, a privately-owned specialty coatings company based in Irvine, Calif. Deft's primary business is supplying structural primers and military topcoats to the North American aviation industry, and it has smaller architectural and industrial coatings businesses. The transaction is expected to close in the second quarter subject to customary closing conditions. Financial terms were not disclosed.

PPG Industries Inc Completes Acquisition Of Akzo Nobel N.V.'s AkzoNobel North American Architectural Coatings Business

Apr 01, 2013


PPG Industries Inc announced that it has finalized the acquisition of the North American architectural coatings business of Akzo Nobel N.V., Amsterdam, in a deal valued at $1.05 billion.

PPG Industries Inc Announces Appointment Of New CFO-Form 8-K

Mar 28, 2013


PPG Industries Inc reported in its Form 8-K that on March 28, 2013, PPG Industries, Inc. (Company) issued a press release announcing that Frank S. Sklarsky, will join the Company as Executive Vice President, Finance, effective April 15, 2013, and will officially assume the responsibilities of Chief Financial Officer (CFO) on August 1, 2013. David B. Navikas will continue to serve as Senior Vice President and Chief Financial Officer (CFO) until August 1, 2013 at which time he will continue as Senior Vice President.

PPG Industries Inc Announces Final Proration Factor Of 14.986286% For Shares Tendered In Exchange Offer

Feb 01, 2013


PPG Industries Inc announced the final proration factor of 14.986286% for its exchange offer of PPG common stock in connection with the separation of PPG`s commodity chemicals business and merger of Eagle Spinco Inc., the entity holding PPG`s former commodity chemicals business, with a subsidiary of Georgia Gulf Corporation. On January 28, 2013, a subsidiary of Georgia Gulf Corporation merged with and into Eagle Spinco, with Eagle Spinco surviving the merger. The combined company formed by uniting Georgia Gulf with PPG`s former commodity chemicals business is now named Axiall Corporation and is traded on the New York Stock Exchange under the ticker symbol AXLL. Under the terms of the exchange offer, 35,249,104 shares of Eagle Spinco common stock were available for distribution in exchange for shares of PPG common stock accepted in the offer. Following the merger, each share of Eagle Spinco common stock automatically converted into the right to receive one share of Axiall Corporation common stock. Accordingly, PPG shareholders who tendered their shares of PPG common stock as part of this offer received 3.2562 shares of Axiall Corporation common stock for each share of PPG common stock accepted for exchange. PPG was able to accept the maximum of 10,825,227 shares of PPG common stock for exchange in the offer, or approximately 7% of its outstanding shares. Under the terms of the exchange offer, fractional shares of Axiall Corporation common stock will not be issued.

PPG Industries Inc Announces Quarterly Dividend Of 59 Cents Per Share

Jan 17, 2013


PPG Industries Inc announced that it has a regular quarterly dividend of 59 cents per share, payable March 12 to shareholders of record Feb. 22.

Essilor International SA in Talks With PPG Industries Inc About Transitions Optical Joint Venture

Jan 15, 2013


Essilor International SA announced that it has been in discussions with PPG Industries Inc (PPG) about the future of their joint venture Transitions Optical, a photochromic lens maker. Discussions are likely to continue for several months. Essilor holds a 49% interest in Transitions Optical which was formed in 1990 while PPG is the majority shareholder, holding a 51% interest in the joint venture companies. While the discussions between PPG and Essilor continue, Transitions Optical intends to continue to operate its business without interruption.

Georgia Gulf Corp Shareholders Approve Issuance of Shares Necessary To Complete Merger With PPG Industries Inc's Commodity Chemicals Business

Jan 10, 2013


Georgia Gulf Corp announced that its shareholders has approved the issuance of shares of Georgia Gulf common stock necessary to complete the pending merger with PPG Industries Inc's commodity chemicals business. The merger is expected to be completed in late January.

PPG Industries Inc Completes Acquisition Of Spraylat

Dec 18, 2012


PPG Industries Inc announced that it has completed its previously announced acquisition of certain assets of Spraylat Corp., a privately-owned industrial coatings company based in Pelham, N.Y. Financial terms were not disclosed.

PPG Industries Inc Announces Acquisition Of North American Architectural Coatings Business Of Akzonobel N.V.

Dec 14, 2012


PPG Industries Inc announced that it has signed a definitive agreement to acquire the North American architectural coatings business of AkzoNobel N.V. (AkzoNobel) for $1.05 billion, including the assumption of $175 million of liabilities. The transaction is expected to close during the second quarter of 2013. AkzoNobel's North American architectural coatings business is the second largest in the United States and has a leading market position in Canada. This business had $1.5 billion of sales during 2011, with roughly 60% derived from the U.S. and the remaining 30% and 10% from Canada and the Caribbean. Similar to PPG's U.S. architectural coatings business, AkzoNobel has strong participation in all three distribution channels. AkzoNobel has 600 company-owned stores and also markets its products through major national home centers and independent distributors.PPG expects to pay $875 million of cash for the acquisition, which will be funded by existing cash on hand. In addition, the company also announced that it will reinitiate its share repurchase program immediately following the completion of the separation of its commodity chemicals business. The company expects to repurchase $500 million-$750 million of stock during 2013. PPG also has $600 million of senior notes that mature in March 2013.

PPG Industries Inc and Henan Billions Chemicals Co Ltd Announce Worldwide TiO2 Technology License Agreement

Dec 05, 2012


PPG Industries Inc announced that it has entered into a technology license agreement with China-based Henan Billions Chemicals Joint Stock Co., Ltd., that will provide Henan Billions the right to use PPG's technology for the manufacture of chloride-grade titanium dioxide (TiO2) on a worldwide basis. This agreement completes the license of PPG technology previously announced by both companies. Terms of the license agreement were not disclosed.

 

 

News

 

 

Pale Yellow Named 2014 Color of the Year by PPG Pittsburgh Paints
Kitchen and Bath Business (258 Words)

08-Nov-2013

 

 

Allnex's Plant in Malaysia Recognized for Environmentalism, Momentive Teams with Kanoria on Phenolics, BASF Intermediates Chooses NA Representatives
Special Chem 4 Coatings (2886 Words)

08-Nov-2013

 

 

Patterson Named PPG Flat Glass Sales Manager
Ceramic Industry (126 Words)

08-Nov-2013

 

 

What a Tweet Valuation!
The Aleph Blog (1214 Words)

08-Nov-2013

 

 

USPTO ISSUES TRADEMARK: COLOR ACCURATE
U.S. Fed News (96 Words)

08-Nov-2013

 

 

Yonhap: White, Gray, Black Dominate Car Colors In S. Korea
World News Connection (572 Words)

07-Nov-2013

 

 

Eastman Chemical Held at Neutral - Analyst Blog
Zacks.com (430 Words)

07-Nov-2013

 

 

Eastman Chemical Held at Neutral
Zacks.com (644 Words)

07-Nov-2013

 

 

Universal Display Corporation Announces Third Quarter 2013 Financial Results
Business Wire (2824 Words)

07-Nov-2013

 

 

Is Sherwin-Williams Destined for Greatness?
Motley Fool (1351 Words)

07-Nov-2013

 

 

PPG's Eng Receives Committee Leadership Award from IPC
PCB 007 (53 Words)

07-Nov-2013

 




 

PPG Industries, Inc.

 

Pittsburgh, Pennsylvania, United States, Tel: 412-434-3131, URL: http://www.ppg.com

Annual Income Statement

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Updated Normal
31-Dec-2011

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

15,200.0

14,885.0

13,423.0

12,239.0

15,849.0

Revenue

15,200.0

14,885.0

13,423.0

12,239.0

15,849.0

Total Revenue

15,200.0

14,885.0

13,423.0

12,239.0

15,849.0

 

 

 

 

 

 

    Cost of Revenue

9,069.0

9,081.0

8,214.0

7,539.0

10,155.0

Cost of Revenue, Total

9,069.0

9,081.0

8,214.0

7,539.0

10,155.0

Gross Profit

6,131.0

5,804.0

5,209.0

4,700.0

5,694.0

 

 

 

 

 

 

    Selling/General/Administrative Expense

3,335.0

3,234.0

2,979.0

2,936.0

3,432.0

Total Selling/General/Administrative Expenses

3,335.0

3,234.0

2,979.0

2,936.0

3,432.0

Research & Development

455.0

430.0

394.0

388.0

451.0

    Depreciation

355.0

346.0

346.0

354.0

428.0

    Amortization of Intangibles

110.0

121.0

124.0

126.0

135.0

Depreciation/Amortization

465.0

467.0

470.0

480.0

563.0

        Interest Expense - Operating

210.0

210.0

189.0

193.0

254.0

    Interest Expense - Net Operating

210.0

210.0

189.0

193.0

254.0

        Interest Income - Operating

-39.0

-42.0

-34.0

-28.0

-26.0

        Investment Income - Operating

-11.0

-37.0

-45.0

5.0

-3.0

    Interest/Investment Income - Operating

-50.0

-79.0

-79.0

-23.0

-29.0

Interest Expense (Income) - Net Operating Total

160.0

131.0

110.0

170.0

225.0

    Purchased R&D Written-Off

-

-

0.0

0.0

23.0

    Restructuring Charge

208.0

0.0

0.0

186.0

163.0

    Litigation

12.0

12.0

12.0

13.0

4.0

    Loss (Gain) on Sale of Assets - Operating

-4.0

-12.0

-8.0

-36.0

-

    Other Unusual Expense (Income)

-

-

-

-

-23.0

Unusual Expense (Income)

216.0

0.0

4.0

163.0

167.0

    Other Operating Expense

232.0

73.0

84.0

65.0

61.0

    Other, Net

-134.0

-128.0

-127.0

-119.0

-113.0

Other Operating Expenses, Total

98.0

-55.0

-43.0

-54.0

-52.0

Total Operating Expense

13,798.0

13,288.0

12,128.0

11,622.0

14,941.0

 

 

 

 

 

 

Operating Income

1,402.0

1,597.0

1,295.0

617.0

908.0

 

 

 

 

 

 

Income Before Tax

1,402.0

1,597.0

1,295.0

617.0

908.0

 

 

 

 

 

 

Total Income Tax

338.0

385.0

415.0

191.0

284.0

Income After Tax

1,064.0

1,212.0

880.0

426.0

624.0

 

 

 

 

 

 

    Minority Interest

-123.0

-117.0

-111.0

-90.0

-86.0

Net Income Before Extraord Items

941.0

1,095.0

769.0

336.0

538.0

    Discontinued Operations

-

-

-

0.0

0.0

Total Extraord Items

-

-

-

0.0

0.0

Net Income

941.0

1,095.0

769.0

336.0

538.0

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

941.0

1,095.0

769.0

336.0

538.0

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

941.0

1,095.0

769.0

336.0

538.0

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

153.4

157.3

164.5

164.8

164.6

Basic EPS Excl Extraord Items

6.13

6.96

4.67

2.04

3.27

Basic/Primary EPS Incl Extraord Items

6.13

6.96

4.67

2.04

3.27

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

941.0

1,095.0

769.0

336.0

538.0

Diluted Weighted Average Shares

155.1

159.3

165.9

165.5

165.4

Diluted EPS Excl Extraord Items

6.07

6.87

4.64

2.03

3.25

Diluted EPS Incl Extraord Items

6.07

6.87

4.64

2.03

3.25

Dividends per Share - Common Stock Primary Issue

2.34

2.26

2.18

2.13

2.09

Gross Dividends - Common Stock

358.0

355.0

360.0

353.0

343.0

Interest Expense, Supplemental

210.0

210.0

189.0

193.0

254.0

Interest Capitalized, Supplemental

-8.0

-9.0

-7.0

-9.0

-8.0

Depreciation, Supplemental

465.0

346.0

346.0

354.0

428.0

Total Special Items

467.0

57.0

-81.0

22.0

167.0

Normalized Income Before Tax

1,869.0

1,654.0

1,214.0

639.0

1,075.0

 

 

 

 

 

 

Effect of Special Items on Income Taxes

112.6

13.7

-26.0

6.8

45.0

Inc Tax Ex Impact of Sp Items

450.6

398.7

389.0

197.8

329.0

Normalized Income After Tax

1,418.4

1,255.3

825.0

441.2

746.0

 

 

 

 

 

 

Normalized Inc. Avail to Com.

1,295.4

1,138.3

714.0

351.2

660.0

 

 

 

 

 

 

Basic Normalized EPS

8.44

7.24

4.34

2.13

4.01

Diluted Normalized EPS

8.35

7.15

4.30

2.12

3.99

Amort of Intangibles, Supplemental

110.0

121.0

124.0

126.0

135.0

Rental Expenses

233.0

249.0

233.0

241.0

267.0

Advertising Expense, Supplemental

288.0

245.0

288.0

268.0

310.0

Research & Development Exp, Supplemental

455.0

430.0

394.0

388.0

451.0

Normalized EBIT

2,029.0

1,785.0

1,324.0

809.0

1,300.0

Normalized EBITDA

2,604.0

2,252.0

1,794.0

1,289.0

1,863.0

    Current Tax - Domestic

332.0

193.0

62.0

3.0

140.0

    Current Tax - Foreign

203.0

176.0

170.0

129.0

141.0

    Current Tax - Local

28.0

20.0

15.0

15.0

29.0

Current Tax - Total

563.0

389.0

247.0

147.0

310.0

    Deferred Tax - Domestic

-162.0

11.0

70.0

53.0

54.0

    Deferred Tax - Foreign

-48.0

-17.0

2.0

-13.0

-86.0

    Deferred Tax - Local

-15.0

2.0

11.0

4.0

6.0

    Deferred Tax - Other

0.0

0.0

85.0

-

-

Deferred Tax - Total

-225.0

-4.0

168.0

44.0

-26.0

Income Tax - Total

338.0

385.0

415.0

191.0

284.0

Interest Cost - Domestic

239.0

254.0

249.0

244.0

258.0

Service Cost - Domestic

61.0

63.0

64.0

67.0

72.0

Prior Service Cost - Domestic

0.0

1.0

5.0

6.0

11.0

Expected Return on Assets - Domestic

-292.0

-312.0

-278.0

-228.0

-283.0

Actuarial Gains and Losses - Domestic

151.0

120.0

121.0

129.0

69.0

Curtailments & Settlements - Domestic

0.0

5.0

0.0

0.0

39.0

Domestic Pension Plan Expense

159.0

131.0

161.0

218.0

166.0

Interest Cost - Post-Retirement

57.0

63.0

64.0

68.0

66.0

Service Cost - Post-Retirement

22.0

19.0

19.0

20.0

21.0

Prior Service Cost - Post-Retirement

0.0

-12.0

-5.0

-13.0

-16.0

Actuarial Gains and Losses - Post-Retir.

-12.0

30.0

19.0

34.0

26.0

Curtailments & Settlements - Post-Retir.

0.0

0.0

0.0

0.0

-5.0

Post-Retirement Plan Expense

67.0

100.0

97.0

109.0

92.0

Defined Contribution Expense - Domestic

42.0

38.0

31.0

25.0

22.0

Defined Contribution Expense Retirement

-

-

-

-

2.0

Total Pension Expense

268.0

269.0

289.0

352.0

282.0

Discount Rate - Domestic

4.60%

5.30%

5.70%

6.10%

6.20%

Discount Rate - Post-Retirement

4.60%

5.30%

5.70%

6.10%

6.20%

Expected Rate of Return - Domestic

7.00%

7.60%

7.80%

7.90%

8.00%

Expected Rate of Return - Post-Retir.

7.00%

7.60%

7.80%

7.90%

8.00%

Compensation Rate - Domestic

3.90%

3.80%

3.90%

3.90%

4.10%

Compensation Rate - Post-Retirement

3.90%

3.80%

3.80%

3.90%

4.10%

Total Plan Interest Cost

296.0

317.0

313.0

312.0

324.0

Total Plan Service Cost

83.0

82.0

83.0

87.0

93.0

Total Plan Expected Return

-292.0

-312.0

-278.0

-228.0

-283.0

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

UpdateType/Date

Updated Normal
31-Dec-2012

Updated Normal
31-Dec-2011

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate

1

1

1

1

1

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

1,306.0

1,457.0

1,341.0

1,057.0

1,021.0

    Short Term Investments

1,087.0

25.0

637.0

7.0

-

Cash and Short Term Investments

2,393.0

1,482.0

1,978.0

1,064.0

1,021.0

        Accounts Receivable - Trade, Gross

2,645.0

2,583.0

2,538.0

2,405.0

2,640.0

        Provision for Doubtful Accounts

-77.0

-71.0

-91.0

-122.0

-103.0

    Trade Accounts Receivable - Net

2,568.0

2,512.0

2,447.0

2,283.0

2,537.0

    Other Receivables

245.0

318.0

331.0

345.0

267.0

Total Receivables, Net

2,813.0

2,830.0

2,778.0

2,628.0

2,804.0

    Inventories - Finished Goods

980.0

935.0

912.0

918.0

1,045.0

    Inventories - Work In Progress

144.0

144.0

136.0

125.0

134.0

    Inventories - Raw Materials

443.0

414.0

411.0

390.0

412.0

    Inventories - Other

120.0

114.0

114.0

115.0

111.0

Total Inventory

1,687.0

1,607.0

1,573.0

1,548.0

1,702.0

    Deferred Income Tax - Current Asset

430.0

473.0

451.0

485.0

515.0

    Other Current Assets

392.0

302.0

278.0

256.0

306.0

Other Current Assets, Total

822.0

775.0

729.0

741.0

821.0

Total Current Assets

7,715.0

6,694.0

7,058.0

5,981.0

6,348.0

 

 

 

 

 

 

        Buildings

1,568.0

1,482.0

1,467.0

1,476.0

1,416.0

        Land/Improvements

504.0

482.0

477.0

478.0

453.0

        Machinery/Equipment

5,952.0

5,736.0

5,587.0

5,507.0

5,338.0

        Construction in Progress

271.0

220.0

232.0

163.0

232.0

        Other Property/Plant/Equipment

735.0

694.0

652.0

689.0

604.0

    Property/Plant/Equipment - Gross

9,030.0

8,614.0

8,415.0

8,313.0

8,043.0

    Accumulated Depreciation

-6,142.0

-5,893.0

-5,729.0

-5,559.0

-5,245.0

Property/Plant/Equipment - Net

2,888.0

2,721.0

2,686.0

2,754.0

2,798.0

Goodwill, Net

2,761.0

2,660.0

2,719.0

2,784.0

2,641.0

    Intangibles - Gross

1,680.0

1,604.0

1,640.0

1,659.0

1,570.0

    Accumulated Intangible Amortization

-919.0

-795.0

-695.0

-577.0

-437.0

Intangibles, Net

1,085.0

1,125.0

1,268.0

1,416.0

1,472.0

    LT Investment - Affiliate Companies

262.0

261.0

416.0

365.0

381.0

    LT Investments - Other

160.0

126.0

134.0

134.0

128.0

Long Term Investments

422.0

387.0

550.0

499.0

509.0

    Other Long Term Assets

1,007.0

795.0

694.0

806.0

930.0

Other Long Term Assets, Total

1,007.0

795.0

694.0

806.0

930.0

Total Assets

15,878.0

14,382.0

14,975.0

14,240.0

14,698.0

 

 

 

 

 

 

Accounts Payable

1,620.0

1,612.0

1,626.0

1,384.0

1,402.0

Accrued Expenses

459.0

414.0

405.0

355.0

378.0

Notes Payable/Short Term Debt

642.0

108.0

28.0

272.0

903.0

    Income Taxes Payable

71.0

51.0

56.0

33.0

62.0

    Other Payables

75.0

5.0

17.0

123.0

92.0

    Other Current Liabilities

1,594.0

1,512.0

1,493.0

1,410.0

1,373.0

Other Current liabilities, Total

1,740.0

1,568.0

1,566.0

1,566.0

1,527.0

Total Current Liabilities

4,461.0

3,702.0

3,625.0

3,577.0

4,210.0

 

 

 

 

 

 

    Long Term Debt

3,368.0

3,574.0

4,043.0

3,074.0

3,009.0

Total Long Term Debt

3,368.0

3,574.0

4,043.0

3,074.0

3,009.0

Total Debt

4,010.0

3,682.0

4,071.0

3,346.0

3,912.0

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

231.0

272.0

293.0

328.0

425.0

Deferred Income Tax

231.0

272.0

293.0

328.0

425.0

Minority Interest

259.0

197.0

195.0

169.0

156.0

    Pension Benefits - Underfunded

2,344.0

2,275.0

1,970.0

1,954.0

2,322.0

    Other Long Term Liabilities

1,152.0

1,113.0

1,211.0

1,385.0

1,243.0

Other Liabilities, Total

3,496.0

3,388.0

3,181.0

3,339.0

3,565.0

Total Liabilities

11,815.0

11,133.0

11,337.0

10,487.0

11,365.0

 

 

 

 

 

 

    Common Stock

484.0

484.0

484.0

484.0

484.0

Common Stock

484.0

484.0

484.0

484.0

484.0

Additional Paid-In Capital

870.0

783.0

725.0

609.0

580.0

Retained Earnings (Accumulated Deficit)

9,871.0

9,288.0

8,548.0

8,139.0

8,156.0

Treasury Stock - Common

-5,496.0

-5,506.0

-4,708.0

-4,218.0

-4,259.0

    Other Comprehensive Income

-1,666.0

-1,800.0

-1,411.0

-1,261.0

-1,628.0

Other Equity, Total

-1,666.0

-1,800.0

-1,411.0

-1,261.0

-1,628.0

Total Equity

4,063.0

3,249.0

3,638.0

3,753.0

3,333.0

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

15,878.0

14,382.0

14,975.0

14,240.0

14,698.0

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

153.6

151.9

160.4

165.7

164.2

Total Common Shares Outstanding

153.6

151.9

160.4

165.7

164.2

Treasury Shares - Common Stock Primary Issue

137.0

138.7

130.2

124.9

126.4

Employees

39,200

38,400

38,300

39,900

44,900

Number of Common Shareholders

17,348

18,151

18,894

19,467

21,784

Accumulated Intangible Amort, Suppl.

919.0

795.0

695.0

577.0

437.0

Total Long Term Debt, Supplemental

2,458.0

3,627.0

4,490.0

3,054.0

3,126.0

Long Term Debt Maturing within 1 Year

603.0

75.0

2.0

4.0

119.0

Long Term Debt Maturing in Year 2

9.0

613.0

477.0

10.0

378.0

Long Term Debt Maturing in Year 3

405.0

2.0

1,088.0

477.0

1.0

Long Term Debt Maturing in Year 4

400.0

391.0

201.0

605.0

76.0

Long Term Debt Maturing in Year 5

77.0

421.0

201.0

2.0

601.0

Long Term Debt Maturing in 2-3 Years

414.0

615.0

1,565.0

487.0

379.0

Long Term Debt Maturing in 4-5 Years

477.0

812.0

402.0

607.0

677.0

Long Term Debt Matur. in Year 6 & Beyond

964.0

2,125.0

2,521.0

1,956.0

1,951.0

Total Capital Leases, Supplemental

32.0

32.0

34.0

32.0

6.0

Capital Lease Payments Due in Year 1

3.0

2.0

2.0

2.0

2.0

Capital Lease Payments Due in Year 2

2.5

2.0

2.0

1.5

0.5

Capital Lease Payments Due in Year 3

2.5

2.0

2.0

1.5

0.5

Capital Lease Payments Due in Year 4

2.5

2.0

2.0

1.5

0.5

Capital Lease Payments Due in Year 5

2.5

2.0

2.0

1.5

0.5

Capital Lease Payments Due in 2-3 Years

5.0

4.0

4.0

3.0

1.0

Capital Lease Payments Due in 4-5 Years

5.0

4.0

4.0

3.0

1.0

Cap. Lease Pymts. Due in Year 6 & Beyond

19.0

22.0

24.0

24.0

2.0

Total Operating Leases, Supplemental

695.0

643.0

868.0

646.0

633.0

Operating Lease Payments Due in Year 1

171.0

162.0

160.0

129.0

126.0

Operating Lease Payments Due in Year 2

135.0

124.0

127.0

103.0

107.0

Operating Lease Payments Due in Year 3

107.0

97.0

225.0

82.0

82.0

Operating Lease Payments Due in Year 4

83.0

74.0

76.0

64.0

65.0

Operating Lease Payments Due in Year 5

64.0

55.0

135.0

54.0

51.0

Operating Lease Pymts. Due in 2-3 Years

242.0

221.0

352.0

185.0

189.0

Operating Lease Pymts. Due in 4-5 Years

147.0

129.0

211.0

118.0

116.0

Oper. Lse. Pymts. Due in Year 6 & Beyond

135.0

131.0

145.0

214.0

202.0

Pension Obligation - Domestic

5,784.0

5,333.0

4,952.0

4,545.0

4,096.0

Plan Assets - Domestic

4,750.0

4,382.0

4,127.0

3,594.0

2,837.0

Funded Status - Domestic

-1,034.0

-951.0

-825.0

-951.0

-1,259.0

Accumulated Obligation - Domestic

5,517.0

5,117.0

4,695.0

4,245.0

3,773.0

Unfunded Plan Obligations

1,362.0

1,394.0

1,235.0

1,089.0

1,150.0

Total Funded Status

-2,396.0

-2,345.0

-2,060.0

-2,040.0

-2,409.0

Discount Rate - Domestic

4.60%

5.30%

5.70%

5.70%

6.10%

Discount Rate - Post-Retirement

4.60%

5.30%

5.70%

5.70%

6.10%

Compensation Rate - Domestic

3.90%

3.80%

3.90%

3.90%

3.90%

Compensation Rate - Post-Retirement

3.90%

3.80%

3.90%

3.90%

3.90%

Intangible Assets - Post-Retirement

1,362.0

1,394.0

1,235.0

1,089.0

1,150.0

Accrued Liabilities - Domestic

-1,176.0

-1,082.0

-942.0

-1,064.0

-1,364.0

Other Assets, Net - Domestic

64.0

59.0

63.0

60.0

51.0

Net Assets Recognized on Balance Sheet

250.0

371.0

356.0

85.0

-163.0

Equity % - Domestic

24.02%

30.50%

38.00%

45.00%

46.00%

Debt Securities % - Domestic

64.61%

61.20%

59.00%

53.00%

49.00%

Real Estate % - Domestic

11.37%

8.30%

3.00%

2.00%

5.00%

Total Plan Obligations

7,146.0

6,727.0

6,187.0

5,634.0

5,246.0

Total Plan Assets

4,750.0

4,382.0

4,127.0

3,594.0

2,837.0

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Reclassified Normal
31-Dec-2012

Reclassified Normal
31-Dec-2012

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

1,064.0

1,212.0

880.0

426.0

624.0

    Depreciation

465.0

467.0

470.0

480.0

563.0

Depreciation/Depletion

465.0

467.0

470.0

480.0

563.0

    Discontinued Operations

-

-

-

0.0

0.0

    Unusual Items

286.0

-11.0

-11.0

52.0

138.0

    Purchased R&D

-

-

-

0.0

23.0

    Equity in Net Earnings (Loss)

1.0

-18.0

-39.0

17.0

15.0

    Other Non-Cash Items

78.0

10.0

-179.0

59.0

52.0

Non-Cash Items

365.0

-19.0

-229.0

128.0

228.0

    Accounts Receivable

90.0

-129.0

-188.0

235.0

-4.0

    Inventories

29.0

-73.0

-34.0

232.0

79.0

    Other Assets

-26.0

-35.0

7.0

74.0

-102.0

    Accrued Expenses

-158.0

39.0

170.0

-

-

    Payable/Accrued

-10.0

22.0

306.0

-174.0

93.0

    Other Liabilities

-45.0

-12.0

-22.0

-61.0

-132.0

    Other Operating Cash Flow

13.0

-36.0

-50.0

5.0

88.0

Changes in Working Capital

-107.0

-224.0

189.0

311.0

22.0

Cash from Operating Activities

1,787.0

1,436.0

1,310.0

1,345.0

1,437.0

 

 

 

 

 

 

    Purchase of Fixed Assets

-411.0

-390.0

-307.0

-239.0

-383.0

Capital Expenditures

-411.0

-390.0

-307.0

-239.0

-383.0

    Acquisition of Business

-122.0

-56.0

-34.0

-26.0

-1,673.0

    Sale of Business

-

-

-

0.0

225.0

    Sale/Maturity of Investment

250.0

749.0

0.0

-

-

    Purchase of Investments

-1,332.0

-125.0

-624.0

0.0

0.0

    Other Investing Cash Flow

4.0

175.0

16.0

62.0

1,956.0

Other Investing Cash Flow Items, Total

-1,200.0

743.0

-642.0

36.0

508.0

Cash from Investing Activities

-1,611.0

353.0

-949.0

-203.0

125.0

 

 

 

 

 

 

    Other Financing Cash Flow

-216.0

-109.0

-40.0

-77.0

-39.0

Financing Cash Flow Items

-216.0

-109.0

-40.0

-77.0

-39.0

    Cash Dividends Paid - Common

-358.0

-355.0

-360.0

-353.0

-343.0

Total Cash Dividends Paid

-358.0

-355.0

-360.0

-353.0

-343.0

        Sale/Issuance of Common

122.0

81.0

146.0

12.0

13.0

        Repurchase/Retirement of Common

-92.0

-858.0

-586.0

-59.0

-7.0

    Common Stock, Net

30.0

-777.0

-440.0

-47.0

6.0

Issuance (Retirement) of Stock, Net

30.0

-777.0

-440.0

-47.0

6.0

        Short Term Debt Issued

-

-

-

1.0

329.0

        Short Term Debt Reduction

-

-

-

-633.0

-442.0

    Short Term Debt, Net

-1.0

9.0

-23.0

-1,063.0

-505.0

        Long Term Debt Issued

397.0

7.0

998.0

429.0

2,681.0

        Long Term Debt Reduction

-203.0

-407.0

-239.0

-12.0

-2,857.0

    Long Term Debt, Net

194.0

-400.0

759.0

417.0

-176.0

Issuance (Retirement) of Debt, Net

193.0

-391.0

736.0

-646.0

-681.0

Cash from Financing Activities

-351.0

-1,632.0

-104.0

-1,123.0

-1,057.0

 

 

 

 

 

 

Foreign Exchange Effects

24.0

-41.0

27.0

17.0

-10.0

Net Change in Cash

-151.0

116.0

284.0

36.0

495.0

 

 

 

 

 

 

Net Cash - Beginning Balance

1,457.0

1,341.0

1,057.0

1,021.0

526.0

Net Cash - Ending Balance

1,306.0

1,457.0

1,341.0

1,057.0

1,021.0

Cash Interest Paid

219.0

212.0

189.0

201.0

228.0

Cash Taxes Paid

503.0

353.0

198.0

197.0

300.0

 

 

 

PPG Industries, Inc.

 

Pittsburgh, Pennsylvania, United States, Tel: 412-434-3131, URL: http://www.ppg.com

Annual Income Statement

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Updated Normal
31-Dec-2011

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net sales

15,200.0

14,885.0

13,423.0

12,239.0

15,849.0

Total Revenue

15,200.0

14,885.0

13,423.0

12,239.0

15,849.0

 

 

 

 

 

 

    Cost of sales, exclusive of depreciation

9,069.0

9,081.0

8,214.0

7,539.0

10,155.0

    Selling, general and administrative

3,335.0

3,234.0

2,979.0

2,936.0

3,432.0

    Depreciation

355.0

346.0

346.0

354.0

428.0

    Amortization

110.0

121.0

124.0

126.0

135.0

    Research and development net

455.0

430.0

394.0

388.0

451.0

    Interest expense

210.0

210.0

189.0

193.0

254.0

    Interest Income

-39.0

-42.0

-34.0

-28.0

-26.0

    Asbestos settlement net

12.0

12.0

12.0

13.0

4.0

    Business restructuring

208.0

0.0

0.0

186.0

163.0

    Other Charges

232.0

73.0

84.0

65.0

61.0

    Royalty Income

-51.0

-55.0

-58.0

-45.0

-52.0

    Share of net earnings (loss) of equity a

-11.0

-37.0

-45.0

5.0

-3.0

    Gain on sale of assets

-4.0

-12.0

-8.0

-36.0

-

    Gain on divestiture of automotive glass

-

-

-

-

-23.0

    Other Other Non-operating Income

-83.0

-

-

-

-

    Other earnings

-

-73.0

-69.0

-74.0

-61.0

    In Process Research and Development

-

-

0.0

0.0

23.0

Total Operating Expense

13,798.0

13,288.0

12,128.0

11,622.0

14,941.0

 

 

 

 

 

 

Net Income Before Taxes

1,402.0

1,597.0

1,295.0

617.0

908.0

 

 

 

 

 

 

Income tax expense

338.0

385.0

415.0

191.0

284.0

Net Income After Taxes

1,064.0

1,212.0

880.0

426.0

624.0

 

 

 

 

 

 

    net income attributable to noncontrollin

-123.0

-117.0

-111.0

-90.0

-86.0

Net Income Before Extra. Items

941.0

1,095.0

769.0

336.0

538.0

    Discontinued Operation

-

-

-

0.0

0.0

Net Income

941.0

1,095.0

769.0

336.0

538.0

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

941.0

1,095.0

769.0

336.0

538.0

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

941.0

1,095.0

769.0

336.0

538.0

 

 

 

 

 

 

Basic Weighted Average Shares

153.4

157.3

164.5

164.8

164.6

Basic EPS Excluding ExtraOrdinary Items

6.13

6.96

4.67

2.04

3.27

Basic EPS Including ExtraOrdinary Items

6.13

6.96

4.67

2.04

3.27

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

941.0

1,095.0

769.0

336.0

538.0

Diluted Weighted Average Shares

155.1

159.3

165.9

165.5

165.4

Diluted EPS Excluding ExtraOrd Items

6.07

6.87

4.64

2.03

3.25

Diluted EPS Including ExtraOrd Items

6.07

6.87

4.64

2.03

3.25

DPS-Ordinary Shares

2.34

2.26

2.18

2.13

2.09

Gross Dividends - Common Stock

358.0

355.0

360.0

353.0

343.0

Normalized Income Before Taxes

1,869.0

1,654.0

1,214.0

639.0

1,075.0

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

450.6

398.7

389.0

197.8

329.0

Normalized Income After Taxes

1,418.4

1,255.3

825.0

441.2

746.0

 

 

 

 

 

 

Normalized Inc. Avail to Com.

1,295.4

1,138.3

714.0

351.2

660.0

 

 

 

 

 

 

Basic Normalized EPS

8.44

7.24

4.34

2.13

4.01

Diluted Normalized EPS

8.35

7.15

4.30

2.12

3.99

Advertising Costs

288.0

245.0

288.0

268.0

310.0

Research & Development Exp

455.0

430.0

394.0

388.0

451.0

Interest Expense

210.0

210.0

189.0

193.0

254.0

Interest Capitalized

-8.0

-9.0

-7.0

-9.0

-8.0

Depreciation

465.0

346.0

346.0

354.0

428.0

BC - Depreciation of Intangible Assets

110.0

-

-

-

-

Amort of Intangibles

-

121.0

124.0

126.0

135.0

Rental Expense

233.0

249.0

233.0

241.0

267.0

    U.S. Federal

332.0

193.0

62.0

3.0

140.0

    Non U.S.

203.0

176.0

170.0

129.0

141.0

    State & Local - U.S.

28.0

20.0

15.0

15.0

29.0

Current Tax - Total

563.0

389.0

247.0

147.0

310.0

    U.S. Federal

-162.0

11.0

70.0

53.0

54.0

    Non U.S.

-48.0

-17.0

2.0

-13.0

-86.0

    State & Local - U.S.

-15.0

2.0

11.0

4.0

6.0

    One-time charge, tax law change

0.0

0.0

85.0

-

-

Deferred Tax - Total

-225.0

-4.0

168.0

44.0

-26.0

Income Tax - Total

338.0

385.0

415.0

191.0

284.0

Service Cost - Pension

61.0

63.0

64.0

67.0

72.0

Interest Cost - Pension

239.0

254.0

249.0

244.0

258.0

Expected Return on Assets - Pension

-292.0

-312.0

-278.0

-228.0

-283.0

Amort. of Prior Service Cost - Pension

0.0

1.0

5.0

6.0

11.0

Amort. of Actuarial Gain/Loss - Pension

151.0

120.0

121.0

129.0

69.0

Curtailment & Special Termination - Pen.

0.0

5.0

0.0

0.0

39.0

Domestic Pension Plan Expense

159.0

131.0

161.0

218.0

166.0

Service Cost - Post-Retirement

22.0

19.0

19.0

20.0

21.0

Interest Cost - Post-Retirement

57.0

63.0

64.0

68.0

66.0

Amort. of Prior Service Cost - Post-Ret.

0.0

-12.0

-5.0

-13.0

-16.0

Amort. of Actuarial Gain/Loss - Post-Ret

-12.0

30.0

19.0

34.0

26.0

Curtailment & Spl. Termination - P-Ret.

0.0

0.0

0.0

0.0

-5.0

Post-Retirement Plan Expense

67.0

100.0

97.0

109.0

92.0

Multi-Employer Post retirement Plans

-

-

-

-

1.0

Multi-Employer Healthcare Expense

-

-

-

-

1.0

Defined Contribution Pension Plan

42.0

38.0

31.0

25.0

22.0

Total Pension Expense

268.0

269.0

289.0

352.0

282.0

Discount Rate - Pension

4.60%

5.30%

5.70%

6.10%

6.20%

Expected Rate of Return - Pension

7.00%

7.60%

7.80%

7.90%

8.00%

Compensation Rate - Pension

3.90%

3.80%

3.90%

3.90%

4.10%

Discount Rate - Post-Retirement

4.60%

5.30%

5.70%

6.10%

6.20%

Expected Rate of Return - Post-Ret.

7.00%

7.60%

7.80%

7.90%

8.00%

Compensation Rate - Post-Retirement

3.90%

3.80%

3.80%

3.90%

4.10%

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

UpdateType/Date

Updated Normal
31-Dec-2012

Updated Normal
31-Dec-2011

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate

1

1

1

1

1

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash and cash equivalents

1,306.0

1,457.0

1,341.0

1,057.0

1,021.0

    Short-term investments

1,087.0

25.0

637.0

7.0

-

    A/R - Gross

2,645.0

2,583.0

2,538.0

2,405.0

2,640.0

    Equity affiliates

22.0

28.0

24.0

28.0

22.0

    Other

223.0

290.0

307.0

317.0

245.0

    Doubtful Accts.

-77.0

-71.0

-91.0

-122.0

-103.0

    Finished Products

980.0

935.0

912.0

918.0

1,045.0

    Work in Process

144.0

144.0

136.0

125.0

134.0

    Raw Materials

443.0

414.0

411.0

390.0

412.0

    Supplies

120.0

114.0

114.0

115.0

111.0

    Deferred Taxes

430.0

473.0

451.0

485.0

515.0

    Other

392.0

302.0

278.0

256.0

306.0

Total current assets

7,715.0

6,694.0

7,058.0

5,981.0

6,348.0

 

 

 

 

 

 

    Land & Improv.

504.0

482.0

477.0

478.0

453.0

    Buildings

1,568.0

1,482.0

1,467.0

1,476.0

1,416.0

    Machinery/Equip.

5,952.0

5,736.0

5,587.0

5,507.0

5,338.0

    Other

735.0

694.0

652.0

689.0

604.0

    Cnstrn.in Prog.

271.0

220.0

232.0

163.0

232.0

    accumulated depreciation

-6,142.0

-5,893.0

-5,729.0

-5,559.0

-5,245.0

    Investments in equity affliates

262.0

261.0

416.0

365.0

381.0

    Investments

160.0

126.0

134.0

134.0

128.0

    Goodwill

2,761.0

2,660.0

2,719.0

2,784.0

2,641.0

    Other Intangibles, Gross

516.0

-

-

-

-

    Other Intangibles, Gross

1,010.0

-

-

-

-

    Brand/Patent/Market/ArtisticIntangible,G

120.0

-

-

-

-

    Other Intangibles, Gross

34.0

-

-

-

-

    Intang. Assets

-

1,604.0

1,640.0

1,659.0

1,570.0

    Acquired Trademark, Net

324.0

316.0

323.0

334.0

339.0

    Acc Amort Acquired techonology

-342.0

-

-

-

-

    Acc Amort Customer related intangible

-491.0

-

-

-

-

    Acc Amort Trademarks

-57.0

-

-

-

-

    Acc Amort Other Intangibles

-29.0

-

-

-

-

    Amortization

-

-795.0

-695.0

-577.0

-437.0

    Other Assets

1,007.0

795.0

694.0

806.0

930.0

Total Assets

15,878.0

14,382.0

14,975.0

14,240.0

14,698.0

 

 

 

 

 

 

    Short-term debt and current portion of l

642.0

108.0

28.0

272.0

903.0

    Asbestos Settle

683.0

593.0

578.0

534.0

491.0

    Trade creditors

1,620.0

1,612.0

1,626.0

1,384.0

1,402.0

    Accured payroll

459.0

414.0

405.0

355.0

378.0

    Customer rebates

212.0

201.0

218.0

207.0

208.0

    Other postretirement and pension benefit

103.0

108.0

109.0

103.0

102.0

    Income Taxes

71.0

51.0

56.0

33.0

62.0

    Other

596.0

610.0

588.0

566.0

572.0

    Business restructuring

75.0

5.0

17.0

123.0

92.0

Total Current Liabilities

4,461.0

3,702.0

3,625.0

3,577.0

4,210.0

 

 

 

 

 

 

    Long-term debt

3,368.0

3,574.0

4,043.0

3,074.0

3,009.0

Total Long Term Debt

3,368.0

3,574.0

4,043.0

3,074.0

3,009.0

 

 

 

 

 

 

    Asbestos settlement

237.0

241.0

243.0

238.0

244.0

    Deferred income taxes

231.0

272.0

293.0

328.0

425.0

    Accrued Pensions

1,057.0

968.0

819.0

944.0

1,250.0

    Other postretirement benefits

1,287.0

1,307.0

1,151.0

1,010.0

1,072.0

    Other liabilities

915.0

872.0

968.0

1,147.0

999.0

    Noncontrolling interests

259.0

197.0

195.0

169.0

156.0

Total Liabilities

11,815.0

11,133.0

11,337.0

10,487.0

11,365.0

 

 

 

 

 

 

    Common Stock

484.0

484.0

484.0

484.0

484.0

    Additional paid-in capital

870.0

783.0

725.0

609.0

580.0

    Retained earnings

9,871.0

9,288.0

8,548.0

8,139.0

8,156.0

    Treasury stock, at cost

-5,496.0

-5,506.0

-4,708.0

-4,218.0

-4,259.0

    Accumulated other comprehensive loss

-1,666.0

-1,800.0

-1,411.0

-1,261.0

-1,628.0

Total Equity

4,063.0

3,249.0

3,638.0

3,753.0

3,333.0

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

15,878.0

14,382.0

14,975.0

14,240.0

14,698.0

 

 

 

 

 

 

    S/O-Ordinary Shares

153.6

151.9

160.4

165.7

164.2

Total Common Shares Outstanding

153.6

151.9

160.4

165.7

164.2

T/S-Ordinary Shares

137.0

138.7

130.2

124.9

126.4

Acc Amort Acquired techonology

342.0

-

-

-

-

Acc Amort Customer related intangible

491.0

-

-

-

-

Acc Amort Trademarks

57.0

-

-

-

-

Acc Amort Other Intangibles

29.0

-

-

-

-

Accumulated Intangible Amortization

-

795.0

695.0

577.0

437.0

Full-Time Employees

39,200

38,400

38,300

39,900

44,900

Number of Common Shareholders

17,348

18,151

18,894

19,467

21,784

Long Term Debt Payable within 1 Year

603.0

75.0

2.0

4.0

119.0

Long Term Debt Payable within 2 Years

9.0

613.0

477.0

10.0

378.0

Long Term Debt Payable within 3 Years

405.0

2.0

1,088.0

477.0

1.0

Long Term Debt Payable within 4 Years

400.0

391.0

-

605.0

76.0

Long Term Debt Payable within 5 Years

77.0

421.0

402.0

2.0

601.0

fjshadf'sad

964.0

-

-

-

-

Long Term Debt Payable-Remaining Maturit

-

2,125.0

2,521.0

1,956.0

1,951.0

Total Long Term Debt, Supplemental

2,458.0

3,627.0

4,490.0

3,054.0

3,126.0

Capital Lease Payable within 1 Year

3.0

2.0

2.0

2.0

2.0

Capital Lease Payable between 2-3 Years

5.0

4.0

4.0

3.0

1.0

Capital Lease Payable between 4-5 Years

5.0

4.0

4.0

3.0

1.0

Capital Lease - Remaining Maturites

19.0

22.0

24.0

24.0

2.0

Total Capital Leases, Supplemental

32.0

32.0

34.0

32.0

6.0

Operating Lease Payable within 1 Year

171.0

162.0

160.0

129.0

126.0

Operating Lease Payable within 2 Years

135.0

124.0

127.0

103.0

107.0

Operating Lease Payable within 3 Years

107.0

97.0

225.0

82.0

82.0

Operating Lease Payable within 4 Years

83.0

74.0

76.0

64.0

65.0

Operating Lease Payable within 5 Years

64.0

55.0

135.0

54.0

51.0

Operating Lease - Remaining Maturities

135.0

131.0

145.0

214.0

202.0

Total Operating Leases, Supplemental

695.0

643.0

868.0

646.0

633.0

Projected Benefit Obligation - Pension

5,784.0

5,333.0

4,952.0

4,545.0

4,096.0

FV of Plan Assets - Pension

4,750.0

4,382.0

4,127.0

3,594.0

2,837.0

Funded Status - Pension

-1,034.0

-951.0

-825.0

-951.0

-1,259.0

Unfunded Plan Obligations

1,362.0

1,394.0

1,235.0

1,089.0

1,150.0

Accumulated Benefit Obligation - Pension

5,517.0

5,117.0

4,695.0

4,245.0

3,773.0

Total Funded Status

-2,396.0

-2,345.0

-2,060.0

-2,040.0

-2,409.0

Discount Rate - Pension

4.60%

5.30%

5.70%

5.70%

6.10%

Compensation Rate - Pension

3.90%

3.80%

3.90%

3.90%

3.90%

Discount Rate - Post-Retirement

4.60%

5.30%

5.70%

5.70%

6.10%

Compensation Rate - Post-Retirement

3.90%

3.80%

3.90%

3.90%

3.90%

Accrued Benefit Liability - Pension

-1,041.0

-961.0

-812.0

-937.0

-1,245.0

Accounts Payable/Accrued Liab. - Pension

-20.0

-13.0

-13.0

-14.0

-14.0

Accounts Payable/Accrued Liab. - P.Ret.

75.0

87.0

84.0

79.0

78.0

Liability - Defined Contribution Plan

-13.0

-13.0

-18.0

-17.0

-15.0

Accrued Benefit Liability - Post-Ret.

1,287.0

1,307.0

1,151.0

1,010.0

1,072.0

Accts. Payable/Accrued Liab.- Dfrd. Comp

-102.0

-95.0

-99.0

-96.0

-90.0

Investments - Dfrd. Compensation Plan

64.0

59.0

63.0

60.0

51.0

Net Assets Recognized on Balance Sheet

250.0

371.0

356.0

85.0

-163.0

Equity Securities % - Pension

24.02%

30.50%

38.00%

45.00%

46.00%

Debt Securities % - Pension

64.61%

61.20%

59.00%

53.00%

49.00%

Real Estate % - Pension

11.37%

8.30%

3.00%

2.00%

5.00%

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Reclassified Normal
31-Dec-2012

Reclassified Normal
31-Dec-2012

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net income attributable to the controlli

1,064.0

1,212.0

880.0

426.0

624.0

    Depreciation and amortization

465.0

467.0

470.0

480.0

563.0

    Pension expense

159.0

131.0

161.0

-

-

    Environmental remediation charge

159.0

0.0

0.0

-

-

    Charge related to change in U.S. tax law

0.0

0.0

85.0

0.0

0.0

    Equity affiliate earnings, net of divide

1.0

-18.0

-39.0

17.0

15.0

    Asbestos settlement, net of tax

7.0

7.0

7.0

8.0

2.0

    Business restructuring

208.0

0.0

0.0

186.0

163.0

    Cash contributions to pension plans

-81.0

-121.0

-340.0

-

-

    Restructuring cash spending

-88.0

-18.0

-103.0

-142.0

-27.0

    Loss from discontinued operations, net o

-

-

-

0.0

0.0

    Writeoff of in process research and deve

-

-

-

0.0

23.0

    Bad Debt Expense

-

-

-

59.0

52.0

    Increase in receivables

90.0

-129.0

-188.0

235.0

-4.0

    Increase in inventories

29.0

-73.0

-34.0

232.0

79.0

    Current Assets

4.0

-32.0

16.0

62.0

-123.0

    (Decrease) increase in net accrued pensi

-10.0

22.0

306.0

-22.0

78.0

    crease) decrease in noncurrent assets

-30.0

-3.0

-9.0

12.0

21.0

    (Decrease) increase in accounts payable

-

-

-

-152.0

15.0

    Increase (decrease) in noncurrent liabil

-45.0

-12.0

-22.0

-61.0

-132.0

    Change in accrued tax and interest

-158.0

39.0

170.0

-

-

    Cash from (used for) operating activitie

-

-

-

0.0

0.0

    (Decrease) increase in accounts payable

13.0

-36.0

-50.0

5.0

88.0

Cash from operating activities

1,787.0

1,436.0

1,310.0

1,345.0

1,437.0

 

 

 

 

 

 

    Additions to property and long-term inve

-411.0

-390.0

-307.0

-239.0

-383.0

    Business acquisitions, net of cash balan

-122.0

-56.0

-34.0

-26.0

-1,673.0

    Release of cash held in escrow

19.0

0.0

1.0

-

-

    Deposit of cash into escrow

-35.0

-16.0

-7.0

0.0

0.0

    Proceeds from termination of currency sw

1.0

0.0

5.0

0.0

208.0

    Proceeds from maturity of short-term inv

250.0

749.0

0.0

-

-

    Purchase of short-term investments

-1,332.0

-125.0

-624.0

0.0

0.0

    Payments on cross currency swap contract

-23.0

-10.0

-9.0

-3.0

0.0

    Collection of notes receivable, equity a

0.0

90.0

0.0

-

-

    Return of capital, equity affiliate

0.0

78.0

0.0

-

-

    Sale of Automotive Glass and Services bu

-

-

-

0.0

225.0

    Proceeds from termination of cross curre

-

-

-

22.0

1,740.0

    Reductions of other property and investm

42.0

33.0

26.0

43.0

45.0

    Deposits Held in Escrow

-

-

-

0.0

-37.0

Cash from Investing Activities

-1,611.0

353.0

-949.0

-203.0

125.0

 

 

 

 

 

 

    Proceeds from other debt

0.0

7.0

15.0

-

-

    Proceeds from long term debt (net of dis

397.0

0.0

983.0

0.0

1,538.0

    Net change in borrowings with maturities

-1.0

9.0

-23.0

-431.0

-392.0

    Proceeds from term loan (See Note 9)

-

-

-

400.0

0.0

    Repayment of other debt

-13.0

-7.0

-239.0

-

-

    Repayment of acquired debt

-119.0

0.0

0.0

-

-

    Repayment of long-term debt

-71.0

-400.0

0.0

0.0

-1,557.0

    Decrease / (increase) in other current a

-

-

-

1.0

329.0

    ST Debt Repayment

-

-

-

-517.0

-442.0

    Repayment of 7.05% Notes due 2009 (See N

-

-

-

-116.0

0.0

    Proceeds from other long-term debt

-

-

-

29.0

0.0

    Repayment of acquired SigmaKalon debt (S

-

-

-

0.0

-1,259.0

    Borrowings to refinance acquired SigmaKa

-

-

-

0.0

1,143.0

    Settlement of forward starting swaps

-121.0

0.0

0.0

-

-

    Proceeds from termination of interest ra

29.0

19.0

0.0

0.0

40.0

    Repymt. LT Debt/Lses

-

-

-

-12.0

-41.0

    Repay./ESOP Loan

-

-

-

0.0

0.0

    Purchase of treasury stock

-92.0

-858.0

-586.0

-59.0

-7.0

    Dividends paid on subsidiary common stoc

-111.0

-106.0

-87.0

-77.0

-79.0

    Issuance of treasury stock

122.0

81.0

146.0

12.0

13.0

    Other

-13.0

-22.0

47.0

0.0

0.0

    Dividends paid

-358.0

-355.0

-360.0

-353.0

-343.0

Cash from Financing Activities

-351.0

-1,632.0

-104.0

-1,123.0

-1,057.0

 

 

 

 

 

 

Effect of currency exchange rate changes

24.0

-41.0

27.0

17.0

-10.0

Net (decrease) / increase in cash and ca

-151.0

116.0

284.0

36.0

495.0

 

 

 

 

 

 

Cash and cash equivalents, beginning of

1,457.0

1,341.0

1,057.0

1,021.0

526.0

Cash and cash equivalents, end of year

1,306.0

1,457.0

1,341.0

1,057.0

1,021.0

    Cash Interest Paid

219.0

212.0

189.0

201.0

228.0

    Cash Taxes Paid

503.0

353.0

198.0

197.0

300.0

 

PPG Industries, Inc.

 

Pittsburgh, Pennsylvania, United States, Tel: 412-434-3131, URL: http://www.ppg.com

Financial Health

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

Key Indicators USD (mil)

 

Quarter
Ending
30-Sep-2013

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2012

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue (?)

3,980.0

3.51%

15,200.0

2.12%

7.49%

4.46%

Research & Development (?)

-

-

455.0

5.81%

5.45%

5.51%

Operating Income (?)

435.0

-10.49%

1,402.0

-12.21%

31.47%

1.29%

Income Available to Common Excl Extraord Items (?)

220.0

-35.10%

941.0

-14.06%

40.96%

1.91%

Basic EPS Excl Extraord Items (?)

1.54

-30.35%

6.13

-11.88%

44.37%

3.35%

Capital Expenditures (?)

155.0

26.02%

411.0

5.38%

19.81%

2.46%

Cash from Operating Activities (?)

494.0

13.82%

1,787.0

24.44%

9.93%

10.95%

Free Cash Flow (?)

339.0

9.00%

1,376.0

31.55%

7.55%

14.51%

Total Assets (?)

-

-

15,878.0

10.40%

3.70%

4.69%

Total Liabilities (?)

-

-

11,815.0

6.13%

4.05%

6.86%

Total Long Term Debt (?)

-

-

3,368.0

-5.76%

3.09%

22.90%

Employees (?)

-

-

39200

2.08%

-0.59%

2.35%

Total Common Shares Outstanding (?)

-

-

153.6

1.10%

-2.50%

-1.28%

Market Cap (?)

-

-

20,785.2

63.91%

28.93%

12.56%

Key Ratios

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Profitability

Gross Margin (?)

40.34%

38.99%

38.81%

38.40%

35.93%

Operating Margin (?)

9.22%

10.73%

9.65%

5.04%

5.73%

Pretax Margin (?)

9.22%

10.73%

9.65%

5.04%

5.73%

Net Profit Margin (?)

6.19%

7.36%

5.73%

2.75%

3.39%

Financial Strength

Current Ratio (?)

1.73

1.81

1.95

1.67

1.51

Long Term Debt/Equity (?)

0.83

1.10

1.11

0.82

0.90

Total Debt/Equity (?)

0.99

1.13

1.12

0.89

1.17

Management Effectiveness

Return on Assets (?)

7.03%

8.26%

6.02%

2.94%

4.57%

Return on Equity (?)

25.74%

31.80%

20.81%

9.48%

14.38%

Efficiency

Receivables Turnover (?)

5.39

5.31

4.97

4.51

5.70

Inventory Turnover (?)

5.51

5.71

5.26

4.64

6.28

Asset Turnover (?)

1.00

1.01

0.92

0.85

1.16

Market Valuation USD (mil)

P/E (TTM) (?)

25.80

.

Enterprise Value (?)

25,118.9

Price/Sales (TTM) (?)

1.67

.

Enterprise Value/Revenue (TTM) (?)

1.67

Enterprise Value/EBITDA (TTM) (?)

11.30

.

Market Cap (?)

25,118.9

 

 

 

PPG Industries, Inc.

 

Pittsburgh, Pennsylvania, United States, Tel: 412-434-3131, URL: http://www.ppg.com

Ratio Comparisons

Traded: New York Stock Exchange: PPG

Financials in: USD (actual units)

Industry: Chemical Manufacturing

As of 18-Oct-2013

Sector: Basic Materials

 

 

Company

Industry

Sector

S&P 500

Valuation Ratios

P/E Excluding Extraordinary (TTM) (?)

25.80

23.47

24.91

19.68

P/E High Excluding Extraordinary - Last 5 Yrs (?)

28.83

29.37

40.00

32.79

P/E Low Excluding Extraordinary - Last 5 Yrs (?)

12.15

11.37

8.69

10.71

Beta (?)

1.43

1.21

1.47

1.00

Price/Revenue (TTM) (?)

1.67

2.41

2.38

2.57

Price/Book (MRQ) (?)

-

4.13

3.90

3.67

Price to Tangible Book (MRQ) (?)

-

7.79

5.81

5.21

Price to Cash Flow Per Share (TTM) (?)

15.50

14.85

13.98

14.22

Price to Free Cash Flow Per Share (TTM) (?)

-

40.81

37.21

26.26

 

 

 

 

 

Dividends

Dividend Yield (?)

1.39%

1.82%

1.75%

2.26%

Dividend Per Share - 5 Yr Avg (?)

2.20

2.13

2.50

1.99

Dividend 5 Yr Growth (?)

2.78%

10.42%

1.06%

0.08%

Payout Ratio (TTM) (?)

-

31.59%

29.68%

25.98%

 

 

 

 

 

Growth Rates (%)

Revenue (MRQ) vs Qtr 1 Yr Ago (?)

3.51%

20.41%

20.15%

15.58%

Revenue (TTM) vs TTM 1 Yr Ago (?)

5.84%

15.77%

23.47%

17.69%

Revenue 5 Yr Growth (?)

4.46%

6.26%

7.38%

8.97%

EPS (MRQ) vs Qtr 1 Yr Ago (?)

-30.36%

2.09%

13.63%

19.49%

EPS (TTM) vs TTM 1 Yr Ago (?)

32.66%

12.44%

42.74%

32.55%

EPS 5 Yr Growth (?)

3.29%

19.42%

8.05%

9.86%

Capital Spending 5 Yr Growth (?)

2.46%

11.74%

9.93%

-2.04%

 

 

 

 

 

Financial Strength

Quick Ratio (MRQ) (?)

-

1.35

1.78

1.24

Current Ratio (MRQ) (?)

-

2.18

2.73

1.79

LT Debt/Equity (MRQ) (?)

-

0.76

0.81

0.64

Total Debt/Equity (MRQ) (?)

-

0.82

0.88

0.73

Interest Coverage (TTM) (?)

10.29

13.67

11.21

13.80

 

 

 

 

 

Profitability Ratios (%)

Gross Margin (TTM) (?)

42.02%

33.98%

32.32%

45.21%

Gross Margin - 5 Yr Avg (?)

38.46%

32.62%

31.54%

44.91%

EBITD Margin (TTM) (?)

14.77%

19.75%

22.23%

24.43%

EBITD Margin - 5 Yr Avg (?)

13.69%

17.18%

18.43%

22.84%

Operating Margin (TTM) (?)

11.00%

14.67%

16.99%

20.63%

Operating Margin - 5 Yr Avg (?)

8.13%

13.24%

13.64%

18.28%

Pretax Margin (TTM) (?)

9.66%

14.52%

15.86%

17.95%

Pretax Margin - 5 Yr Avg (?)

8.13%

12.15%

12.57%

17.10%

Net Profit Margin (TTM) (?)

7.49%

10.56%

11.55%

13.65%

Net Profit Margin - 5 Yr Avg (?)

5.87%

8.73%

8.64%

12.10%

Effective Tax Rate (TTM) (?)

22.49%

27.39%

28.04%

28.45%

Effective Tax rate - 5 Yr Avg (?)

27.72%

27.15%

29.65%

29.92%

 

 

 

 

 

Management Effectiveness (%)

Return on Assets (TTM) (?)

-

8.26%

8.05%

8.54%

Return on Assets - 5 Yr Avg (?)

5.80%

7.52%

7.49%

8.40%

Return on Investment (TTM) (?)

-

6.33%

5.86%

7.90%

Return on Investment - 5 Yr Avg (?)

8.09%

5.79%

5.78%

8.27%

Return on Equity (TTM) (?)

-

22.07%

18.78%

19.72%

Return on Equity - 5 Yr Avg (?)

20.35%

19.44%

17.45%

20.06%

 

 

 

 

 

Efficiency

Revenue/Employee (TTM) (?)

384,030.60

665,165.50

613,510.56

927,613.77

Net Income/Employee (TTM) (?)

28,750.00

84,229.57

82,492.56

116,121.92

Receivables Turnover (TTM) (?)

-

7.02

8.71

13.25

Inventory Turnover (TTM) (?)

-

8.06

8.16

14.53

Asset Turnover (TTM) (?)

-

0.80

0.82

0.93

 

PPG Industries, Inc.

 

Pittsburgh, Pennsylvania, United States, Tel: 412-434-3131, URL: http://www.ppg.com

Annual Ratios

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Financial Strength

Current Ratio (?)

1.73

1.81

1.95

1.67

1.51

Quick/Acid Test Ratio (?)

1.17

1.16

1.31

1.03

0.91

Working Capital (?)

3,254.0

2,992.0

3,433.0

2,404.0

2,138.0

Long Term Debt/Equity (?)

0.83

1.10

1.11

0.82

0.90

Total Debt/Equity (?)

0.99

1.13

1.12

0.89

1.17

Long Term Debt/Total Capital (?)

0.42

0.52

0.52

0.43

0.42

Total Debt/Total Capital (?)

0.50

0.53

0.53

0.47

0.54

Payout Ratio (?)

38.15%

32.47%

46.63%

104.47%

63.94%

Effective Tax Rate (?)

24.11%

24.11%

32.05%

30.96%

31.28%

Total Capital (?)

8,073.0

6,931.0

7,709.0

7,099.0

7,245.0

 

 

 

 

 

 

Efficiency

Asset Turnover (?)

1.00

1.01

0.92

0.85

1.16

Inventory Turnover (?)

5.51

5.71

5.26

4.64

6.28

Days In Inventory (?)

66.29

63.91

69.34

78.67

58.12

Receivables Turnover (?)

5.39

5.31

4.97

4.51

5.70

Days Receivables Outstanding (?)

67.75

68.76

73.50

81.00

64.06

Revenue/Employee (?)

387,755

387,630

350,470

306,742

352,984

Operating Income/Employee (?)

35,765

41,589

33,812

15,464

20,223

EBITDA/Employee (?)

50,434

53,750

46,084

27,494

32,762

 

 

 

 

 

 

Profitability

Gross Margin (?)

40.34%

38.99%

38.81%

38.40%

35.93%

Operating Margin (?)

9.22%

10.73%

9.65%

5.04%

5.73%

EBITDA Margin (?)

13.01%

13.87%

13.15%

8.96%

9.28%

EBIT Margin (?)

9.22%

10.73%

9.65%

5.04%

5.73%

Pretax Margin (?)

9.22%

10.73%

9.65%

5.04%

5.73%

Net Profit Margin (?)

6.19%

7.36%

5.73%

2.75%

3.39%

R&D Expense/Revenue (?)

2.99%

2.89%

2.94%

3.17%

2.85%

COGS/Revenue (?)

59.66%

61.01%

61.19%

61.60%

64.07%

SG&A Expense/Revenue (?)

21.94%

21.73%

22.19%

23.99%

21.65%

 

 

 

 

 

 

Management Effectiveness

Return on Assets (?)

7.03%

8.26%

6.02%

2.94%

4.57%

Return on Equity (?)

25.74%

31.80%

20.81%

9.48%

14.38%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share (?)

8.96

6.89

6.25

6.68

6.42

Operating Cash Flow/Share  (?)

11.64

9.45

8.17

8.12

8.75

 

Current Market Multiples

Market Cap/Revenue (TTM) (?)

1.67

Market Cap/EBIT (TTM) (?)

14.53

Market Cap/EBITDA (TTM) (?)

11.30

Enterprise Value/Revenue (TTM) (?)

1.67

Enterprise Value/EBIT (TTM) (?)

14.53

Enterprise Value/EBITDA (TTM) (?)

11.30

 

PPG Industries, Inc.

 

Pittsburgh, Pennsylvania, United States, Tel: 412-434-3131, URL: http://www.ppg.com

Stock Report

  

 

Stock Snapshot    

 

 

Traded: New York Stock Exchange: PPG  

As of 18-Oct-2013    US Dollars

Recent Price

$175.77

 

EPS

$8.35

52 Week High

$176.58

 

Price/Sales

1.65

52 Week Low

$113.70

 

Dividend Rate

$2.44

Avg. Volume (mil)

0.67

 

Price/Earnings

24.25

Market Value (mil)

$25,118.90

 

Price/Book

6.64

 

 

 

Beta

1.43

 

Price % Change

Rel S&P 500%

4 Week

5.71%

3.62%

13 Week

10.44%

7.12%

52 Week

47.59%

23.30%

Year to Date

29.86%

6.16%

 

 

2 Year Weekly End Price & Volume

 

 

 

 

 

Stock History    

 

 

Market Cap History

 

30-Jun-13

% Chg

31-Mar-13

% Chg

31-Dec-12

% Chg

30-Sep-12

% Chg

Total Common Shares Outstanding

143

0.2

143

-7.1

154

0.1

153

0.4

Market Cap

20,923.1

9.5

19,106.1

-8.1

20,785.2

18.0

17,610.8

8.7

Yearly Price History

 

2013

% Chg

2012

% Chg

2011

% Chg

2010

% Chg

2009

% Chg

High Price

176.58

29.1

136.79

39.9

97.81

15.6

84.59

35.8

62.31

-12.2

Low Price

128.20

54.0

83.27

25.3

66.43

16.6

56.96

102.3

28.16

-21.6

Year End Price

175.77

29.9

135.35

62.1

83.49

-0.7

84.07

43.6

58.54

38.0

Monthly Price History

Price Ending Date

Open

High

Low

Close

Volume

 

18-Oct-13

167.13

176.58

160.76

175.77

12,845,671

 

30-Sep-13

158.54

172.21

156.35

167.06

11,451,282

 

30-Aug-13

156.26

165.64

155.27

156.21

13,125,760

 

31-Jul-13

147.05

162.26

144.58

160.44

15,681,621

 

28-Jun-13

154.47

157.22

145.21

146.41

14,370,167

 

31-May-13

145.82

160.83

145.11

153.61

14,304,119

 

30-Apr-13

133.65

148.56

130.56

147.14

24,334,957

 

28-Mar-13

133.64

143.50

131.95

133.94

20,423,119

 

28-Feb-13

139.35

140.92

128.20

134.66

70,824,164

 

31-Jan-13

138.34

147.99

136.20

137.87

103,462,448

 

31-Dec-12

124.99

136.79

118.75

135.35

36,989,086

 

30-Nov-12

118.68

128.42

113.81

124.27

18,123,878

 

31-Oct-12

115.28

120.00

113.40

117.08

15,462,735

 


Standard & Poors

United States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks, Rising Debt Burden; Outlook Negative

Publication date: 05-Aug-2011 20:13:14 EST

 

        We have lowered our long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA' and affirmed the 'A-1+' short-term rating.

         We have also removed both the short- and long-term ratings from CreditWatch negative.

         The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics.

        More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.

        Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon.

        The outlook on the long-term rating is negative. We could lower the long-term rating to 'AA' within the next two years if we see that less reduction in spending than agreed to, higher interest rates, or new fiscal pressures during the period result in a higher general government debt trajectory than we currently assume in our base case.

TORONTO (Standard & Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services said today that it lowered its long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA'. Standard & Poor's also said that the outlook on the long-term rating is negative. At the same time, Standard & Poor's affirmed its 'A-1+' short-term rating on the U.S. In addition, Standard & Poor's removed both ratings from CreditWatch, where they were placed on July 14, 2011, with negative implications.

 

The transfer and convertibility (T&C) assessment of the U.S.--our assessment of the likelihood of official interference in the ability of U.S.-based public- and private-sector issuers to secure foreign exchange for

debt service--remains 'AAA'.

 

We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process. We also believe that the fiscal consolidation plan that Congress and the Administration agreed to this week falls short of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade.

 

Our lowering of the rating was prompted by our view on the rising public debt burden and our perception of greater policymaking uncertainty, consistent with our criteria (see "Sovereign Government Rating Methodology and Assumptions ," June 30, 2011, especially Paragraphs 36-41). Nevertheless, we view the U.S. federal government's other economic, external, and monetary credit attributes, which form the basis for the sovereign rating, as broadly unchanged.

 

We have taken the ratings off CreditWatch because the Aug. 2 passage of the Budget Control Act Amendment of 2011 has removed any perceived immediate threat of payment default posed by delays to raising the government's debt ceiling. In addition, we believe that the act provides sufficient clarity to allow us to evaluate the likely course of U.S. fiscal policy for the next few years.

 

The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year's wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently. Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements,

the containment of which we and most other independent observers regard as key to long-term fiscal sustainability.

 

Our opinion is that elected officials remain wary of tackling the structural issues required to effectively address the rising U.S. public debt burden in a manner consistent with a 'AAA' rating and with 'AAA' rated sovereign peers (see Sovereign Government Rating Methodology and Assumptions," June 30, 2011, especially Paragraphs 36-41). In our view, the difficulty in framing a consensus on fiscal policy weakens the government's ability to manage public finances and diverts attention from the debate over how to achieve more balanced and dynamic economic growth in an era of fiscal stringency and private-sector deleveraging (ibid). A new political consensus might (or might not) emerge after the 2012 elections, but we believe that by then, the government debt burden will likely be higher, the needed medium-term fiscal adjustment potentially greater, and the inflection point on the U.S. population's demographics and other age-related spending drivers closer at hand (see "Global Aging 2011: In The U.S., Going Gray Will Likely Cost Even More Green, Now," June 21, 2011).

 

Standard & Poor's takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.'s finances on a sustainable footing.

 

The act calls for as much as $2.4 trillion of reductions in expenditure growth over the 10 years through 2021. These cuts will be implemented in two steps: the $917 billion agreed to initially, followed by an additional $1.5 trillion that the newly formed Congressional Joint Select Committee on Deficit Reduction is supposed to recommend by November 2011. The act contains no measures to raise taxes or otherwise enhance revenues, though the committee could recommend them.

 

The act further provides that if Congress does not enact the committee's recommendations, cuts of $1.2 trillion will be implemented over the same time period. The reductions would mainly affect outlays for civilian discretionary spending, defense, and Medicare. We understand that this fall-back mechanism is designed to encourage Congress to embrace a more balanced mix of expenditure savings, as the committee might recommend.

 

We note that in a letter to Congress on Aug. 1, 2011, the Congressional Budget Office (CBO) estimated total budgetary savings under the act to be at least $2.1 trillion over the next 10 years relative to its baseline assumptions. In updating our own fiscal projections, with certain modifications outlined below, we have relied on the CBO's latest "Alternate Fiscal Scenario" of June 2011, updated to include the CBO assumptions contained in its Aug. 1 letter to Congress. In general, the CBO's "Alternate Fiscal Scenario" assumes a continuation of recent Congressional action overriding existing law.

 

We view the act's measures as a step toward fiscal consolidation. However, this is within the framework of a legislative mechanism that leaves open the details of what is finally agreed to until the end of 2011, and Congress and the Administration could modify any agreement in the future. Even assuming that at least $2.1 trillion of the spending reductions the act envisages are implemented, we maintain our view that the U.S. net general government debt burden (all levels of government combined, excluding liquid financial assets) will likely continue to grow. Under our revised base case fiscal scenario--which we consider to be consistent with a 'AA+' long-term rating and a negative outlook--we now project that net general government debt would rise from an estimated 74% of GDP by the end of 2011 to 79% in 2015 and 85% by 2021. Even the projected 2015 ratio of sovereign indebtedness is high in relation to those of peer credits and, as noted, would continue to rise under the act's revised policy settings.

 

Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade.

 

Our revised upside scenario--which, other things being equal, we view as consistent with the outlook on the 'AA+' long-term rating being revised to stable--retains these same macroeconomic assumptions. In addition, it incorporates $950 billion of new revenues on the assumption that the 2001 and 2003 tax cuts for high earners lapse from 2013 onwards, as the Administration is advocating. In this scenario, we project that the net general government debt would rise from an estimated 74% of GDP by the end of 2011 to 77% in 2015 and to 78% by 2021.

 

Our revised downside scenario--which, other things being equal, we view as being consistent with a possible further downgrade to a 'AA' long-term rating--features less-favorable macroeconomic assumptions, as outlined below and also assumes that the second round of spending cuts (at least $1.2 trillion) that the act calls for does not occur. This scenario also assumes somewhat higher nominal interest rates for U.S. Treasuries. We still believe that the role of the U.S. dollar as the key reserve currency confers a government funding advantage, one that could change only slowly over time, and that Fed policy might lean toward continued loose monetary policy at a time of fiscal tightening. Nonetheless, it is possible that interest rates could rise if investors re-price relative risks. As a result, our alternate scenario factors in a 50 basis point (bp)-75 bp rise in 10-year bond yields relative to the base and upside cases from 2013 onwards. In this scenario, we project the net public debt burden would rise from 74% of GDP in 2011 to 90% in 2015 and to 101% by 2021.

 

Our revised scenarios also take into account the significant negative revisions to historical GDP data that the Bureau of Economic Analysis announced on July 29. From our perspective, the effect of these revisions underscores two related points when evaluating the likely debt trajectory of the U.S. government. First, the revisions show that the recent recession was deeper than previously assumed, so the GDP this year is lower than previously thought in both nominal and real terms. Consequently, the debt burden is slightly higher. Second, the revised data highlight the sub-par path of the current economic recovery when compared with rebounds following previous post-war recessions. We believe the sluggish pace of the current economic recovery could be consistent with the experiences of countries that have had financial crises in which the slow process of debt deleveraging in the private sector leads to a persistent drag on demand. As a result, our downside case scenario assumes relatively modest real trend GDP growth of 2.5% and inflation of near 1.5% annually going forward.

 

When comparing the U.S. to sovereigns with 'AAA' long-term ratings that we view as relevant peers--Canada, France, Germany, and the U.K.--we also observe, based on our base case scenarios for each, that the trajectory of the U.S.'s net public debt is diverging from the others. Including the U.S., we estimate that these five sovereigns will have net general government debt to GDP ratios this year ranging from 34% (Canada) to 80% (the U.K.), with the U.S. debt burden at 74%. By 2015, we project that their net public debt to GDP ratios will range between 30% (lowest, Canada) and 83% (highest, France), with the U.S. debt burden at 79%. However, in contrast with the U.S., we project that the net public debt burdens of these other sovereigns will begin to decline, either before or by 2015.

 

Standard & Poor's transfer T&C assessment of the U.S. remains 'AAA'. Our T&C assessment reflects our view of the likelihood of the sovereign restricting other public and private issuers' access to foreign exchange needed to meet debt service. Although in our view the credit standing of the U.S. government has deteriorated modestly, we see little indication that official interference of this kind is entering onto the policy agenda of either Congress or the Administration. Consequently, we continue to view this risk as being highly remote.

 

The outlook on the long-term rating is negative. As our downside alternate fiscal scenario illustrates, a higher public debt trajectory than we currently assume could lead us to lower the long-term rating again. On the other hand, as our upside scenario highlights, if the recommendations of the Congressional Joint Select Committee on Deficit Reduction--independently or coupled with other initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high earners--lead to fiscal consolidation measures beyond the minimum mandated, and we believe they are likely to slow the deterioration of the government's debt dynamics, the long-term rating could stabilize at 'AA+'.

 

On Monday, we will issue separate releases concerning affected ratings in the funds, government-related entities, financial institutions, insurance, public finance, and structured finance sectors.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.29

UK Pound

1

Rs.101.36

Euro

1

Rs.84.59

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

New Business

 

--

 

This score serves as a reference to assess SCs credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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