Automobile coatings volumes strong in N America, China – PPG CEO

18 April 2013 21:10  [Source: ICIS news]

HOUSTON (ICIS)--Coatings volumes pertaining to automobile manufacturing and refinishing continue to show strength in North America and China, but Europe continues to be a drag on business, the CEO of PPG Industries said on Thursday.

In its Q1 2013 quarterly earnings report, PPG reported volume declines in the automotive refinish business that it attributed to European market weakness.

Also, PPG said automotive original equipment manufacturer (OEM) coatings volumes grew across the board, including in Europe, despite that region’s slumping auto market.

“We’re seeing the lowest auto builds there in a generation,” said PPG CEO Charles Bunch said in a conference call.

The CEO said PPG expects to continue to see similar growth and challenges in the second quarter of 2013.

Pittsburgh, Pennsylvania-based PPG Industries makes glass and coatings.

By: Jeremy Pafford
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