Sales of PPG Industries’ three coatings business segments – Performance Coatings, Industrial Coatings and Architectural Coatings EMEA – combined for $14.25
billion in revenue in 2014, up from $12.78 bil-
lion the year before.
“PPG achieved record results in 2014
and further strengthened its position as the
world’s leading and largest coatings com-
pany,” Charles Bunch, chairman and CEO of
PPG stated in the company’s annual report.
“Thanks to our customers and employees
throughout the world, 2014 was another suc-
cessful year for our 131-year-old company,
both financially and strategically. We achieved record financial
results that have further strengthened our leading position within
the global coatings industry.”
PPG also completed several important strategic acquisitions in
2014 to drive future earnings growth. “Most notably, we acquired
Comex, the leading architectural coatings company in Mexico,”
Bunch said. “This was the second largest acquisition in PPG’s his-
tory and positions us as the number one coatings company in this
important and growing economy. We are pleased to have added this
high-quality business to the PPG family.”
The transaction, valued at $2.3 billion, added a leading archi-
tectural coatings business to PPG’s portfolio. Comex manufactures
coatings and related products in Mexico and sells them in Mexico
and Central America through more than 3,700 stores that are inde-
pendently owned and operated by more than 700 concessionaires.
Comex also sells PPG’s products through regional retailers and
wholesalers and directly to customers.
PPG also made several targeted acquisitions that strengthened
its diverse coatings product portfolio, such as The Homax Group,
Hi-Temp Coatings and Canal Supplies. The Homax Group is the
industry’s leading supplier of decorative aerosol drywall and ceiling
texturing applications utilized primarily for home repair. In addi-
tion, it supplies various epoxy finishes, patching, caulking and mesh
tape repair products, and other painting tools and accessories. The
company’s products are sold through major home improvement
centers, hardware stores and paint suppliers. Hi-Temp Coatings
Technology manufactures industry-leading coatings that withstand
extreme temperatures to protect both carbon steel and stainless steel
substrates in stacks, piping, boilers and similar equipment. Hi-Temp
coatings products are used widely in refineries, petrochemical plants,
pulp and paper mills, and power plants.
PPG has ambitious plans for 2015 and beyond. “As we look
forward into 2015, we expect sales of our coatings businesses to
approach 95 percent of PPG’s total sales,” Bunch stated. “We are
well positioned to benefit from continuing global growth due to our
broad geographic reach, excellent product offering, and pipeline of
new and innovative products. Additionally, we will maintain our
heritage of operational excellence and cost management.”
Key Developments 2014
• Hi-Temp Coatings Technology (protective and marine coatings) –
acquired March 2014
• Divested 51 percent ownership interest in Transitions Optical joint
venture and wholly-owned sunlens business (specialty coatings
and materials) – closed April 2014
• Canal Supplies Inc. (protective and marine coatings) – acquired
June 2014
• The Homax Group (architectural coatings – Americas) – acquired
July 2014
• Consorcio Comex, S.A. de C.V. (architectural coatings – Americas;
established PPG-Comex business) – acquired November 2014
01PPG Industries Pittsburgh, Pennsylvania/USA www.ppg.com
PUBLIC COMPANY
YEAR ESTABLISHED: 1883
REVENUE: $14.25 billion s (2013: $12.78 billion)
SEGMENT BREAKDOWN
• Aerospace coatings • Packaging coatings • Automotive
OEM coatings • Industrial coatings • Automotive refinish
coatings • Protective and Marine coatings • Architectural
coatings • Specialty coatings and materials
KEY EXECUTIVES
Charles E. Bunch, chairman and CEO; Michael H. McGarry,
executive VP; Viktor R. Sekmakas, executive VP; Cynthia
A. Niekamp, senior VP, automotive OEM coatings; Bryan
Iams, VP, corporate and government affairs; Charles F.
Kahle II, VP, coatings research and development and
CTO; Marcos Achar Levy, VP, Architectural Coatings, Latin
America, and CEO, PPG-Comex; Shelley J. Bausch, VP,
Global Industrial Coatings; David J. Cole, VP, Packaging
Coatings; Barry N. Gillespie, VP, Aerospace Products;
Anup Jain, VP, Specialty Coatings and Materials; Timothy
M. Knavish, VP, Global Protective and Marine Coatings;
John R. Outcalt, VP, Global Automotive Refinish; Jean-
Marie Greindl, president, PPG EMEA, and VP, Automotive
Coatings, EMEA; Michael Horton, president, PPG Asia
Pacific, and VP, Protective and Marine Coatings, Asia
Pacific; Gregory B. Benckart, VP, Automotive Refinish,
Americas; Kevin D. Braun, VP, Industrial Coatings,
Americas; Gary R. Danowski, VP, Automotive Refinish,
EMEA; Diane Kappas, VP, Protective and Marine Coatings,
Americas; Matt C. Marek, VP, Automotive Coatings,
Americas; John C. Richter, VP, Operations, Coatings,
Asia Pacific; Vincent Robin, VP, Automotive Coatings,
Asia Pacific; Scott B. Sinetar, VP, Architectural Coatings,
North America; Ram Vadlamannati, VP, Architectural
Coatings, EMEA and Asia Pacific; Willie Wu (Chunping),
VP, Industrial Coatings, Asia Pacific; Pauline Yuen, VP,
Refinish Coatings and Light Industrial Coatings, Asia.
Charles Bunch,
Chairman and CEO
