PPG Industries, Inc. is a multinational manufacturer specializing in the production of coatings and specialty materials. The company operates through two main business segments: Performance Coatings and Industrial Coatings, supplying a wide range of protective and decorative coatings, adhesives, sealants, and related chemicals . PPG's products are distributed globally, serving diverse markets such as industrial equipment, packaging, automotive, aerospace, and architectural applications .
- Performance Coatings - Supplies protective and decorative coatings, adhesives, sealants, finishes, paint strippers, stains, and related chemicals. This segment includes automotive refinish coatings, aerospace coatings, architectural coatings (Americas, Asia Pacific, and EMEA), protective and marine coatings, and traffic solutions.
- Industrial Coatings - Provides a variety of protective and decorative coatings and finishes, adhesives, sealants, metal pretreatment products, optical monomers and coatings, low-friction coatings, paint films, precipitated silicas, and other specialty materials. This segment includes automotive original equipment manufacturer (OEM) coatings, industrial coatings, packaging coatings, and specialty coatings and materials.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Timothy M. Knavish ExecutiveBoard | Chairman and CEO | Director at Rockwell Automation, Inc. | Joined PPG in 1987; became Chairman and CEO in October 2023. Extensive experience in coatings and acquisition strategy. | View Report → |
Amy R. Ericson Executive | Senior Vice President, Protective and Marine Coatings | None | Joined PPG in January 2023; previously led Packaging Coatings. | |
Chancey E. Hagerty Executive | Senior Vice President, Automotive Refinish Coatings | None | Joined PPG in 2020; became SVP in May 2023. Previously led global industrial coatings. | |
K. Henrik Bergström Executive | Senior Vice President, Architectural Coatings, Latin America, EMEA, and Asia Pacific | None | Joined PPG in 2017; oversees architectural coatings in key global regions. | |
Kevin D. Braun Executive | Senior Vice President, Operations | None | Joined PPG in 1991; became SVP of Operations in October 2024. Extensive experience in coatings and industrial segments. | |
Vincent J. Morales Executive | Senior Vice President and CFO | None | Joined PPG in 2007; CFO since March 2017. Long-standing leadership in finance and investor relations. | |
Catherine R. Smith Board | Director | CFO and Treasurer of Nordstrom, Inc.; Director at Baxter International Inc. | Director since 2019; extensive financial leadership experience, including roles at Target and Bright Health Group. | |
Christopher N. Roberts III Board | Director | Trustee at Young Life | Director since October 2023; extensive leadership experience in food and beverage industries. | |
Gary R. Heminger Board | Director | Director at Fifth Third Bancorp | Director since 2017; former Chairman and CEO of Marathon Petroleum Corporation. | |
Guillermo Novo Board | Director | Chairman and CEO of Ashland Inc. | Director since 2021; also leads Ashland Inc. as Chairman and CEO. | |
Kathy L. Fortmann Board | Director | Director at FMC Corporation | Director since July 2024; nearly 35 years of global business experience in food, agriculture, and specialty chemicals. | |
Martin H. Richenhagen Board | Director | Director at Linde plc and Daimler Truck Holding AG | Director since 2007; extensive experience in global manufacturing and corporate governance. | |
Melanie L. Healey Board | Director | Director at Hilton Worldwide, Verizon Communications, and Kenvue Inc. | Director since 2016; former Group President at Procter & Gamble. | |
Michael W. Lamach Board | Independent Lead Director | Director at Honeywell International Inc. and Nucor Corporation | Director since 2015; became Independent Lead Director in October 2023. Former Chairman and CEO of Trane Technologies. |
- Given that general industrial activity in the U.S. and Europe was lackluster and your Industrial Coatings organic sales declined by a mid-single-digit percentage despite growth in China and India, what specific strategies are you implementing to reverse this trend and drive growth in these regions?
- With the divestiture of your Architectural Coatings U.S. and Canada business for $550 million and the announced restructuring program to eliminate stranded costs and rationalize your footprint, how confident are you in achieving the projected $175 million in savings, and what challenges do you foresee in fully realizing these savings?
- In the Aerospace business, despite your optimism for high single-digit growth in the fourth quarter and an outstanding year in 2025, how are you addressing potential risks such as customer strikes and supply chain disruptions that could impact your growth projections?
- Considering the decrease in insurance claims affecting your automotive refinish business due to factors like higher totals and consumers not turning in claims, what strategies are you employing to mitigate this impact and sustain growth in this market segment?
- With the recent thinning of your M&A pipeline and your commitment to only pursue acquisitions where you have a strong right to win, what specific criteria are you using to evaluate potential targets, and how will you ensure these acquisitions align with your strategic focus and deliver shareholder value?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Akzo Nobel N.V. | Listed as a global competitor in the coatings industry, competing in primary markets with global operations. |
Listed as a global competitor in the coatings industry, competing in primary markets with global operations. | |
BASF Corporation | Listed as a global competitor in the coatings industry, competing in primary markets with global operations. |
Kansai Paints | Listed as a global competitor in the coatings industry, competing in primary markets with global operations. |
Nippon Paint | Listed as a global competitor in the coatings industry, competing in primary markets with global operations. |
Listed as a global competitor in the coatings industry, competing in primary markets with global operations. | |
Benjamin Moore | Listed as a global competitor in the coatings industry, competing in primary markets with global operations. |
Hempel A/S | Listed as a global competitor in the coatings industry, competing in primary markets with global operations. |
the Jotun Group | Listed as a global competitor in the coatings industry, competing in primary markets with global operations. |
Listed as a global competitor in the coatings industry, competing in primary markets with global operations. | |
Listed as a global competitor in the coatings industry, competing in primary markets with global operations. | |
Listed as a global competitor in the coatings industry, competing in primary markets with global operations. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Arsonsisi S.p.A. Powder Coatings | 2022 | PPG acquired the powder coatings business of Arsonsisi S.p.A., with the deal announced on February 7, 2022, expected to close in Q1 2022 subject to customary closing conditions and ultimately completed on April 1, 2022 as part of PPG's strategy to enhance its powder coatings manufacturing capabilities. |
Recent press releases and 8-K filings for PPG.
- PPG reported Q1 2025 sales of $3.7 billion, reflecting a 4% decline year-over-year due to unfavorable foreign currency translation and divestitures, though organic growth was seen in regions such as the U.S. and Asia.
- The company achieved a record segment EBITDA margin of 19.4% and an adjusted EPS of $1.72, underscoring improved operational performance amid challenging market conditions.
- Capital deployment remained a priority with approximately $400 million in share repurchases executed in Q1 and a cumulative repurchase of $1.2 billion over the past six quarters, alongside dividend payments of around $160 million.
- PPG enhanced its balance sheet by issuing EUR 900 million of debt at 3.25%, with upcoming maturities expected in Q2 and Q4, while also managing FX headwinds and tariff impacts effectively.