PPG Industries, Inc. manufactures and distributes a broad range of paints, coatings, and specialty materials. The company's vision is to be the first-choice partner to meet customers' evolving needs for innovative paints, coatings, and surface solutions. PPG is a global leader with manufacturing facilities and equity affiliates in more than 70 countries. PPG supplies paints, coatings, and specialty materials to customers serving a wide array of end-uses, including industrial equipment and components; packaging material; aircraft and marine equipment; automotive original equipment; automotive refinish and aftermarket; pavement marking products; as well as coatings for other industrial and consumer products. PPG also serves commercial and residential new build and maintenance customers by supplying coatings to painting and maintenance contractors and directly to consumers for decoration and maintenance.

The coatings industry is highly competitive and consists of several large firms with global presence and many firms supplying local or regional markets. PPG competes in its primary markets with the world's largest coatings companies, most of which have global operations, and with many regional coatings companies.

• Employees: 53,000 (average for FY2023)
• Geographic Footprint: more than 70 countries
• Headquarters: Pittsburgh, Pennsylvania
• Founded: 1883
• Revenue: $18.2 billion (FY2023)
• Key Subsidiaries/Brands: PPG, Glidden, Comex, Olympic, Dulux, PPG Pittsburgh Paints, Mulco, Flood, Liquid Nails, Sico, Renner, Taubmans, White Knight, Bristol, Homax, Sigma, Histor, Seigneurie, Guittet, Peintures Gauthier, Ripolin, Johnstone's, Leyland, Primalex, Dekoral, Trilak, Prominent Paints, Gori, Bondex, Danke!, Tikkurila, Sem, Sprint, Ennis-Flint, Teslin

• CEO: Timothy M. Knavish (since October 2023)
• CFO: Vincent J. Morales (since March 2017)
• Board Chair: Timothy M. Knavish (since October 2023)
• Other Key Executives:
  • Anne M. Foulkes, Senior Vice President and General Counsel (since September 2018)
  • K. Henrik Bergström, Senior Vice President, Architectural Coatings, Latin America, EMEA and Asia Pacific (since May 2023)
  • Kevin D. Braun, Senior Vice President, Industrial Coatings Segment (since May 2023)
  • Amy R. Ericson, Senior Vice President, Protective and Marine Coatings (since January 2023)
  • Chancey E. Hagerty, Senior Vice President, Automotive Refinish Coatings (since May 2023)
  • Ramaprasad Vadlamannati, Senior Vice President, Operations (since January 2023)

Key leaders have extensive experience in the coatings industry and related fields.

• Annual Revenue: $18.2 billion (FY2023)
• Net Income: $1.3 billion (FY2023)
• Total Assets: $21.6 billion (as of December 31, 2023)
• Employees: 53,000 (average for FY2023)
• Key Financial Highlights: Net sales increased by 3% compared to the prior year, driven by higher selling prices. Income before income taxes was $1.7 billion, an increase of $367 million compared to the prior year, primarily due to higher selling prices and lower raw material costs, partially offset by higher selling, general and administrative expense and lower sales volumes.

PPG supplies paints, coatings and specialty materials to customers serving a wide array of end-uses. Key product categories include:

• Aerospace Coatings: Coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, packaging and chemical management services for the aerospace industry.
• Architectural Coatings: Paints, wood stains, adhesives, sealants and purchased sundries for painting and maintenance contractors and consumers for decoration and maintenance of residential and commercial building structures.
• Automotive Refinish Coatings: Coatings, solvents, adhesives, sealants, purchased sundries, software and paint films for automotive and commercial transport/fleet repair and refurbishing.
• Protective and Marine Coatings: Coatings and finishes for the protection of metals and structures for metal fabricators, heavy duty maintenance contractors and manufacturers of ships, bridges and rail cars.
• Traffic Solutions: Paints, thermoplastics, pavement marking products and other advanced technologies for pavement marking for government, commercial infrastructure, and maintenance contractors.
• Automotive OEM Coatings: Specifically formulated coatings, adhesives and sealants, metal pretreatments and paint films for automotive original equipment.
• Industrial Coatings: Specifically formulated coatings, adhesives and sealants and metal pretreatments; services and coatings application for appliances, agricultural and construction equipment, consumer electronics, building products, kitchenware, transportation vehicles and numerous other finished products.
• Packaging Coatings: Specifically formulated coatings for metal cans, closures, and plastic and aluminum tubes for food, beverage and personal care, and promotional and specialty packaging.
• Specialty Coatings and Materials: Amorphous precipitated silicas, TESLIN® substrate, Organic Light Emitting Diode (OLED) materials, optical lens materials and photochromic dyes.

PPG's business is comprised of two reportable business segments:

• Performance Coatings: Primarily supplies a variety of protective and decorative coatings, adhesives, sealants and finishes along with pavement marking products, paint strippers, stains and related chemicals, transparencies, transparent armor and paint films.
• Industrial Coatings: Primarily supplies a variety of protective and decorative coatings and finishes along with adhesives, sealants, metal pretreatment products, optical monomers and coatings, low-friction coatings, precipitated silicas and other specialty materials.

PPG seeks to optimize its investment in research and development to create new products to drive profitable growth. The company aligns its product development with the macro trends in the markets it serves, including a focus on sustainability and productivity, and leverages core technology platforms to develop products to address unmet market needs. Additionally, it operates laboratories in close geographic proximity to its customers, and customizes products for customers' end-use applications. PPG is committed to an efficient and effective innovation process and disciplined portfolio management.

PPG also focuses on improving its competitive cost position and expanding its supply of high-quality raw materials, including strategic initiatives to qualify multiple sources of supply. The company continues to monitor and aggressively manage its cost structure to ensure alignment with the overall demand environment.

PPG operates in the highly competitive coatings industry, which includes several large firms with global presence and many firms supplying local or regional markets. PPG competes with the world's largest coatings companies, most of which have global operations, and with many regional coatings companies.

• Market Position: PPG is a global leader in paints, coatings and specialty materials.
• Key Competitors: Akzo Nobel N.V., Axalta Coating Systems Ltd., BASF Corporation, Benjamin Moore, Hempel A/S, Kansai Paints, the Jotun Group, Masco Corporation, Nippon Paint, RPM International Inc., The Sherwin-Williams Company and 3M Company.
• Industry Trends: The automotive industry is experiencing significant change, including an increase in the production of electric vehicles. The development of customer-facing digital channels is transforming certain retail industries.

• Economic Risks: Increases in prices and declines in the availability of raw materials could negatively impact financial results. The pace of economic growth and level of economic and geopolitical uncertainty could have a negative impact on results of operations and cash flows. Fluctuations in foreign currency exchange rates could affect financial results.
• Competitive Risks: The industries in which PPG operates are highly competitive. An increase in competition may cause PPG to lose market share or lose customers, adversely impacting sales volumes, or compel PPG to reduce prices to remain competitive, which could result in reduced margins for products.
• Operational Risks: Public health crises, including pandemics and the measures taken by public health and government authorities to address them, have adversely impacted and could continue to adversely impact financial condition and results of operations. Business disruptions could have a negative impact on results of operations and financial condition. The security of information technology systems could be compromised which could adversely affect operations or reputation. PPG may not effectively integrate acquired businesses into existing operations.
• Legal, Regulatory, and Tax Risks: PPG is subject to existing and evolving standards relating to the protection of the environment. PPG is subject to a variety of laws and regulations, which could increase compliance costs and could adversely affect results of operations. Changes in the tax regimes and related government policies and regulations in the countries in which PPG operates could adversely affect results and effective tax rate.