Sales of PPG Industries’ three coatings business segments – Per- formance Coatings, Industrial Coatings and Architectural Coatings EMEA – combined for
$14.24 billion in revenue in 2015.
“2015 was another record year for our 132-
year- old company,” said Michael McGarry, CEO
of PPG. “Thanks to our customers and employ-
ees, we were able to strengthen our global paint
and coatings businesses despite some challenging
global economic conditions. Throughout the year,
we continued to deliver on our commitment to produce industry
leading paint, coatings and specialty materials that our customers
trust to protect and beautify their products and surroundings. Our
employees’ dedication, energy, innovative spirit and technical know-
how are key reasons why customers rely on PPG.”
PPG reported that it delivered strong financial results in 2015, achiev-
ing the highest adjusted earnings per diluted share in company history.
PPG also completed several strategic initiatives aimed at creating
long-term value for its shareholders.
“This included the successful integration of Comex, the leading
paint supplier in Mexico, which we acquired in late 2014,” McGarry
stated. “The performance of PPG-Comex has been excellent by every
measure. In addition, we have maintained the pace of opening a new
PPG-Comex concessionaire store location approximately every two
days. I am proud to note that we’ve surpassed the milestone of 4,000
store locations in Mexico. While these achievements are significant,
we still have considerable growth opportunities ahead.”
In addition, PPG completed a number of smaller acquisitions
during 2015:
• Acquired specialty wood-care and paint products brand,
FLOOD Australia.
• Acquired REVOCOAT, a global supplier of sealants, adhesives and damper products for the automotive industry.
• Completed the acquisition of Consorcio Latinoamericano, a
network of 57 paint stores in Central America.
• Acquired Cuming Microwave, a manufacturer of coatings that
absorb microwaves and radio waves and that have applica-
tions in military aircraft, electronics, telecommunications and
medical equipment.
• Acquired IVC Industrial Coatings, a U.S.-based manufacturer of
specialty powder and liquid coatings for industrial applications.
• Acquired majority interest in a new joint venture, called Sealants Europe SAS, formed with the aerospace and automotive
sealants and adhesives business of Le Joint Français (LJF).
Looking forward in 2016, PPG remains focused on delivering
higher organic growth, including continued commercialization of its
innovative, industry leading paint, coatings and specialty materials.
“Being the world’s leading paint and coatings company is a journey – not a destination,” said McGarry. “In many ways, our journey
has just begun. So we continue our focus on driving growth from
within our businesses. We also will continue to be aggressive on efficiency and productivity initiatives. As those of you who have followed
us for years know quite well, this is a never ending quest at PPG. We
are always looking for ways to improve our cost structure.”
PPG Reports Sustainability Progress
PPG has released its 2015 Corporate Sustainability Report, which
details the company’s progress toward achieving its 2020 sustainability goals.
The company announced the following progress in 2015:
• Achieved 30 percent of sales from sustainable products, an
increase of 50 percent since 2012.
• Reduced energy intensity 23 percent since 2012.
• Reduced greenhouse gas emissions intensity 17 percent since
2012.
• Reduced its injury and illness rate 26 percent since 2012.
• Implemented a wellness program at 71 percent of its facilities.
• Implemented its community engagement framework at 65
percent of its sites.
• Distributed $7.8 million in charitable contributions.
• Launched the 10-year, $10 million COLORFUL COMMUNITIES
global charitable initiative.
01PPG Pittsburgh, Pennsylvania/USA www.ppg.com
PUBLIC COMPANY
YEAR ESTABLISHED: 1883
REVENUE: $14.24 billion t (2014: $14.25 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, executive chairman; Michael H. McGarry,
president and CEO; Viktor R. Sekmakas, executive VP; Frank S.
Sekmakas, executive VP and CFO; Glenn E. Bost II, senior VP and
general counsel. Bryan N. Iams, VP corporate and governmental
affairs; David S. Bem, VP science and technology and CTO; Jean-
Marie Greindl, senior VP, Architectural Coatings, and president,
PPG EMEA; Timothy M. Knavish, senior VP, Automotive Coatings;
Ram Vadlamannati, senior VP, Protective and Marine Coatings
and Corporate Development; Michael Horton, president, PPG
Asia Pacific, and VP, Protective and Marine Coatings, Asia Pacific;
Marcos Achar Levy, VP, Architectural Coatings, Latin America,
and CEO, PPG Comex; Shelley J. Bausch, VP, Global Industrial
Coatings; David J. Cole, VP, Architectural Coatings, U.S. and
Canada; Barry N. Gillespie, VP, Aerospace Products; Anup Jain,
VP, Specialty Coatings and Materials; John R. Outcalt, VP, Global
Automotive Refinish; Kenneth J. West, VP, Packaging Coatings;
Gregory B. Benckart, VP, Automotive Refinish, Americas; Kevin
D. Braun, VP, Industrial Coatings, Americas; Gary R. Danowski,
VP, Automotive Coatings Operations, Automotive Parts and
Accessories-Decorative and Commercial Vehicles; Diane Kappas,
VP, Protective and Marine Coatings, Americas; Rajesh Lall, VP,
Operations, Industrial Coatings and PPG Asia Pacific; Matt C.
Marek, VP, Automotive Coatings, Americas; David P. Morris, GM
and VP, Americas, Aerospace; Thomas E. Maziarz, VP, Stores and
Dealers, Architectural Coatings, North America; Vincent Robin,
VP, Automotive Coatings, Asia Pacific; Pauline Yuen, VP, Refinish
Coatings, Asia Pacific; Radhika Batra, VP, Purchasing and Logistics.
Michael
McGarry
