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PPG to Invest $60 Million in New Manufacturing Facility in Lipetsk, Russia

Post Time:Oct 03,2013Classify:Industry NewsView:64

PPG Industries (NYSE:PPG)announced on September 30, 2013 plans to invest $60 million in a new manufacturing facility and commercial operation for its coatings businesses in the Lipetsk region of Russia. The company anticipates project completion in the second half of 2015. The facility is expected to employ more than 150 people and manufacture a wide variety of industrial and performance coatings.  

The investment further demonstrates PPG's commitment to growth in Europe, the Middle East and Africa (EMEA). PPG currently has operations in Russia and is supplying customers across a variety of industries in the country. The new facility is expected to facilitate PPG's growth in the market and help the company directly meet growing local demand for its coatings products.

In addition to the manufacturing hub, the facility will include a new warehouse and distribution center as well as administrative offices and technical labs.

"We are delighted to expand our operations and commitment in Russia," said Jens Brackebusch, PPG general manager, Russia. "We appreciate the ongoing loyalty of our Russian customers and are excited about this opportunity, which will allow us to grow with them."

PPG: BRINGING INNOVATION TO THE SURFACE.(TM)

PPG Industries' vision is to continue to be the world's leading coatings and specialty products company. Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Sales in 2012 were $15.2 billion. For more information, visit CONTACT: PPG Industries, Inc. Media: Ken Armistead, PPG Communications Manager, EMEA, +44-1924-354848 karmistead@ppg.com or Mark Silvey, PPG Corporate and Government Affairs, +1-412-434-3046 silvey@ppg.com or Investors: Vince Morales, PPG Investor Relations, +1-412-434-3740 vmorales@ppg.com

Source: http://www.glassonweb.com/news/index/20323/Author:

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