07.13.11
Charles Bunch, chairman and CEO, PPG Industries
The strategic actions that PPG has undertaken over the past decade have served to transform our company from a diversified, North American-centric manufacturer to a global coatings leader. As a result, sales from our combined coatings businesses in 2010 accounted for 74 percent of the company. In addition, we significantly expanded our presence in emerging regions last year by 20 percent. These regions now account for about 27 percent of PPG, and the U.S. and Canada now represent less than 50 percent of our sales versus 75 percent ten years ago.
As we begin 2011, we expect the economic recovery to strengthen and broaden in most end-use markets and regions. However, construction in the developed regions and in Eastern Europe was depressed throughout 2010 and remains challenging. We also experienced higher coatings raw material costs in 2010, particularly in the second half of the year. As a result, we raised our selling prices over the course of 2010 in all of our businesses, and we are in the process of implementing further pricing initiatives to offset this per
The strategic actions that PPG has undertaken over the past decade have served to transform our company from a diversified, North American-centric manufacturer to a global coatings leader. As a result, sales from our combined coatings businesses in 2010 accounted for 74 percent of the company. In addition, we significantly expanded our presence in emerging regions last year by 20 percent. These regions now account for about 27 percent of PPG, and the U.S. and Canada now represent less than 50 percent of our sales versus 75 percent ten years ago.
As we begin 2011, we expect the economic recovery to strengthen and broaden in most end-use markets and regions. However, construction in the developed regions and in Eastern Europe was depressed throughout 2010 and remains challenging. We also experienced higher coatings raw material costs in 2010, particularly in the second half of the year. As a result, we raised our selling prices over the course of 2010 in all of our businesses, and we are in the process of implementing further pricing initiatives to offset this per
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