HOUSTON (ICIS)--PPG plans to raise prices by 6% on average for its industrial coatings technologies in North America effective 1 November, the US paint and coatings company said on Wednesday.
The change applies to all industrial coatings end-use segments, the company said.
PPG vice president of industrial coatings in the Americas Kevin Braun cited "significant" increases in raw materials and labour costs as reasons for the increase.
“While PPG continues to look for ways to respond to cost increases through more efficient operations, cost-control measures have not sufficiently offset rapidly rising costs in the supply chain,” Braun said.
Market sources have reported unseasonably healthy demand in some sectors. While industrial and automobile coatings continue to be sluggish, a source said, architectural-paint demand appears to be healthy, especially for this time of year.
Additional reporting by Larry Terry