Top Companies Report


July 7, 2016

Pittsburgh, Pennsylvania/USA

REVENUE: $14.24 billion (2014: $14.25 billion)

• Aerospace coatings
• Packaging coatings
• Automotive OEM coatings
• Industrial coatings
• Automotive refinish coatings
• Protective and Marine coatings
• Architectural coatings
• Specialty coatings and materials

Charles E. Bunch, executive chairman; Michael H. McGarry, president and CEO; Viktor R. Sekmakas, executive VP; Frank S. Sklarsky, executive VP and CFO; Glenn E. Bost II, senior VP and general counsel. Bryan N. Iams, VP corporate and governmental affairs; David S. Bem, VP science and technology and CTO; Jean-Marie Greindl, senior VP, Architectural Coatings, and president, PPG EMEA; Timothy M. Knavish, senior VP, Automotive Coatings; Ram Vadlamannati, senior VP, Protective and Marine Coatings and Corporate Development; Michael Horton, president, PPG Asia Pacific, and VP, Protective and Marine Coatings, Asia Pacific; Marcos Achar Levy, VP, Architectural Coatings, Latin America, and CEO, PPG Comex; Shelley J. Bausch, VP, Global Industrial Coatings; David J. Cole, VP, Architectural Coatings, U.S. and Canada; Barry N. Gillespie, VP, Aerospace Products; Anup Jain, VP, Specialty Coatings and Materials; John R. Outcalt, VP, Global Automotive Refinish; Kenneth J. West, VP, Packaging Coatings; Gregory B. Benckart, VP, Automotive Refinish, Americas; Kevin D. Braun, VP, Industrial Coatings, Americas; Gary R. Danowski, VP, Automotive Coatings Operations, Automotive Parts and Accessories-Decorative and Commercial Vehicles; Diane Kappas, VP, Protective and Marine Coatings, Americas; Rajesh Lall, VP, Operations, Industrial Coatings and PPG Asia Pacific; Matt C. Marek, VP, Automotive Coatings, Americas; David P. Morris, GM and VP, Americas, Aerospace; Thomas E. Maziarz, VP, Stores and Dealers, Architectural Coatings, North America; Vincent Robin, VP, Automotive Coatings, Asia Pacific; Pauline Yuen, VP, Refinish Coatings, Asia Pacific; Radhika Batra, VP, Purchasing and Logistics.

Sales of PPG Industries’ three coatings business segments – Performance Coatings, Industrial Coatings and Architectural Coatings EMEA – combined for $14.24 billion in revenue in 2015.

“2015 was another record year for our 132-year- old company,” said Michael McGarry, CEO of PPG. “Thanks to our customers and employees, we were able to strengthen our global paint and coatings businesses despite some challenging global economic conditions. Throughout the year, we continued to deliver on our commitment to produce industry leading paint, coatings and specialty materials that our customers trust to protect and beautify their products and surroundings. Our employees’ dedication, energy, innovative spirit and technical know-how are key reasons why customers rely on PPG.”

PPG reported that it delivered strong financial results in 2015, achieving the highest adjusted earnings per diluted share in company history.

PPG also completed several strategic initiatives aimed at creating long-term value for its shareholders.

“This included the successful integration
of Comex, the leading paint supplier in Mexico, which we acquired in late 2014,” McGarry stated. “The performance of PPG-Comex has been excellent by every measure. In addition, we have maintained the pace of opening a new PPG-Comex concessionaire store location approximately every two days. I am proud to note that we’ve surpassed the milestone of 4,000 store locations in Mexico. While these achievements are significant, we still have considerable growth opportunities ahead.”

In addition, PPG completed a number of smaller acquisitions during 2015:
  • Acquired specialty wood-care and paint products brand, FLOOD Australia.
  • Acquired REVOCOAT,
 a global supplier of sealants, adhesives and damper products for the automotive industry.
  • Completed the acquisition of Consorcio Latinoamericano, a network of 57 paint stores in Central America.
  • Acquired Cuming Microwave, a manufacturer of coatings that absorb microwaves and radio waves and that have applications in military aircraft, electronics, telecommunications and medical equipment.
  • Acquired IVC Industrial Coatings, a U.S.-based manufacturer of specialty powder and liquid coatings for industrial applications.
  • Acquired majority interest in a new joint venture, called Sealants Europe SAS, formed with the aerospace and automotive sealants and adhesives business of Le Joint Français (LJF).
Looking forward in 2016, PPG remains focused on delivering higher organic growth, including continued commercialization of its innovative, industry leading paint, coatings and specialty materials.

“Being the world’s leading paint and coatings company is a journey – not a destination,” said McGarry. “In many ways, our journey has just begun. So we continue our focus on driving growth from within our businesses. We also will continue to be aggressive on efficiency and productivity initiatives. As those of you who have followed us for years know quite well, this is a never ending quest at PPG. We are always looking for ways to improve our cost structure.”

PPG Reports Sustainability Progress
PPG has released its 2015 Corporate Sustainability Report, which details the company’s progress toward achieving its 2020 sustainability goals.

The company announced the following progress in 2015:
  • Achieved 30 percent of sales from sustainable products, an increase of 50 percent since 2012.
  • Reduced energy intensity 23 percent since 2012.
  • Reduced greenhouse gas emissions intensity 17 percent since 2012.
  • Reduced its injury and illness rate 26 percent since 2012.
  • Implemented a wellness program at 71 percent of its facilities.
  • Implemented its community engagement framework at 65 percent of its sites.
  • Distributed $7.8 million in charitable contributions.
  • Launched the 10-year, $10 million COLORFUL COMMUNITIES global charitable initiative.