Following an earlier announcement for the same reason in the Asian region, PPG said it would increase prices and surcharges in Europe "to offset a significant rise in raw material costs". The price changes will impact a select group of automotive OEM (original equipment manufacturer) and industrial coatings products, effective 1 May or as contracts permit.
"The recent input cost increases in Europe, similar to what we experienced in Asia, are due to a significant tightening of commodity supply, supplier capacity constraints and regional feedstock availability," said the supplier's automotive OEM coatings head Tim Knavish.
"While we must work with our customers to share the burden of these cost increases, we remain committed to providing them with global coatings solutions that offer outstanding value, world-class service and the latest technologies," added Shelley Bausch, PPG vice president, industrial coatings.
Details of the price increases will be detailed directly to customers, PPG said.