Global macro winds turning more positive: PPG CEO

26 September 2013 16:16  [Source: ICIS news]

NEW YORK (ICIS)--The global economic winds appear to be shifting more favourably for US-based coatings company PPG Industries, with positive signs in the US, Europe and China, PPG’s chief executive said on Thursday.

“The US economy is continuing a modest recovery, and we are pleased that our automotive OEM and residential construction businesses are continuing to get moderately better,” said Charles Bunch, chairman and CEO of PPG Industries.

“In Europe, we saw a rough first half of 2013 after tough conditions in 2012. But things are stabilising at a low level and we see some early signs of small improvement. We are hopeful,” he added.

For China, Bunch admits he is “more optimistic than most”.

“We see improvement in 2014 in Europe, and China will be a good story for us. The automotive market is quite strong there, and after a pause with the new government, there are now policies in place for growth in the construction market,” Bunch said.

Bunch will be awarded the ICIS Kavaler Award, sponsored by The Chemists’ Club, for outstanding and newsworthy achievement at an event at the Lotos Club in New York City on 30 October.

By: Joseph Chang
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