PPG Industries

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PPG
Public
Traded as
Industry Chemicals
Founded 1883; 133 years ago (1883)
Creighton, Pennsylvania, U.S.
Founder
Headquarters Pittsburgh, Pennsylvania, U.S.
Area served
Worldwide
Key people
Chuck Bunch
(Executive Chairman)
Michael McGarry
(President & CEO)
Products
Services Manufacturing
Revenue Increase US$15.1 billion (2013)
Increase US$1.5 billion (2013)
Increase US$1.0 billion (2013)
Total assets Increase US$15.9 billion (2013)
Total equity Increase US$4.9 billion (2013)
Number of employees
42,600 (2013)
Slogan We protect and beautify the world
Website www.ppg.com

PPG is an American Fortune 500 company and global supplier of paints, coatings, specialty materials, chemicals, glass, and fiberglass. With headquarters in Pittsburgh, Pennsylvania, PPG operates in more than 70 countries around the globe. By revenue it is the largest coatings company in the world.[1] It is headquartered in PPG Place, an office and retail complex in downtown Pittsburgh, and is known for its glass facade designed by Philip Johnson.

History[edit]

Founding and 20th century[edit]

Pittsburgh Plate Glass Company plaque in the plaza at PPG Place

Pittsburgh Plate Glass Company was founded in 1883 by Captain John Baptiste Ford and John Pitcairn, Jr., at Creighton, Pennsylvania.

Based in Creighton, Pennsylvania (about 20 miles north of Pittsburgh along the Allegheny River), PPG soon became the United States' first commercially successful producer of high-quality, thick flat glass using the plate process. PPG was also the world's first plate glass plant to power its furnaces with locally produced natural gas, an innovation which rapidly stimulated widespread industrial use of the cleaner-burning fuel.[2]

PPG expanded quickly. By 1900, known as the "Glass Trust", it included 10 plants, had a 65 percent share of the U.S. plate glass market, and had become the nation's second largest producer of paint.[3] Today, known as PPG Industries, the company is a multibillion-dollar, Fortune 500 corporation with 150 manufacturing locations around the world. It now produces coatings, glass, fiberglass, and chemicals.[2]

Pitcairn served as a director of PPG from its start, its president from 1897 to 1905, and chairman of the board from 1894 until his death.[4]

20th century[edit]

On 19 December 1968 the company changed its name to PPG Industries, Inc., to show its diverse offerings. Ditzler Color Company, established in 1902 in Detroit as an automotive color concern, was purchased by Pittsburgh Plate Glass Company (now PPG) in 1928. In the mid-1980s, Cipisa, a Spanish paint company was acquired and renamed PPG Ibérica. The CEO of Cipisa, Pere Nadal Carres became CEO of PPG Ibérica.[citation needed] In 1990 PPG founded Transitions Optical as a joint venture with Essilor.[5]

21st century[edit]

In October 2000, PPG Industries announced it had agreed to buy Courtaulds Aerospace for $512.5 million.[6] Based in Glendale, CA, the aerospace business has annual sales of approximately $240 million (U.S.), employs 1,200 people. It manufactures sealants in Glendale, CA, and Shildon, England; coatings and sealants in Mojave, CA; glazing sealants at Gloucester City, NJ; and coatings at Gonfreville, France. The business also operates 14 application-support centres in North America, Europe, Africa, Asia and Australia.

In 2007, the company was involved in a lawsuit on failing to disclose a purchase reduction of its two major auto glass customers.[7] On 2 January 2008, PPG acquired the SigmaKalon Group of companies for $3.2 billion from private investment firm Bain Capital, strongly increasing its paint and specialty coatings business.[8]

In 2008, PPG renamed their automotive glass division PGW (Pittsburgh Glass Works) and sold a majority of it to Kohlberg & Company. PPG retained 40% ownership of PGW until March 2016 when they sold their stake to automotive parts salvage company LKQ [9]

In April 2013, PPG completed the acquisition of AkzoNobel North American architectural coatings business including Glidden, Liquid Nails, and Flood brands.[10] 2013 revenue was US$15.1 billion, while assets were US$15.9 billion.[citation needed]

On April 1, 2014, PPG finalized the sale of Transitions Optical to its joint venture partner, Essilor International of France, however, PPG’s technical center in Monroeville will continue to provide research and development services for Transitions.[11][12] On November 5, 2014 PPG closed a deal, to purchase Mexican Consorcio Comex, S.A. de C.V. (“Comex”) for $2.3 billion [13]

In April 2015, PPG Industries completed the acquisition of REVOCOAT, a global supplier of sealants.[citation needed] Chuck Bunch remains Executive Chairman, while Michael McGarry serves as President & CEO.

In July 2016, PPG announced its sale of the flat glass business to Vitro, a glass manufacturer based in Mexico, for the sum of $750 million. [14]

Environmental record[edit]

In November 2010, PPG agreed to remove 700,000 tons of toxic waste from Canal Crossing, a brownfield site in Jersey City, New Jersey where the company operated a chromium processing plant between 1954 and 1963.[15][16][17][18] Stringent standards were agreed to in a federal court settlement.[19]

Lime Lake Reclamation Project of PPG Industries in Barberton, Ohio, received special awards in the National Beneficial Use of Biosolids Program from Environmental Protection Agency’s (EPA) region 5 in 1998.[citation needed]

Gallery[edit]

See also[edit]

References[edit]

  1. ^ http://www.coatingsworld.com/heaps/view/1788/1/
  2. ^ a b "125 Anniversary". PPG Industries. 2008. Retrieved Nov 10, 2008. 
  3. ^ Garrett, Jeff (Aug 1, 2006). "Our Local Heritage : Tarentum-Area Glass Companies". Alle-Kinski Today Online. Retrieved Nov 10, 2008. 
  4. ^ Ingham, John M. (1983). Biographical Dictionary of American Leaders. Greenwood Publishing Group. pp. 1101–1102. ISBN 0-313-21362-3. 
  5. ^ Gannon, Joyce (January 15, 2013). "PPG, Essilor may make transition - Pittsburgh Post-Gazette". Pittsburgh Post-Gazette. 
  6. ^ "PPG to Acquire Former Courtaulds Aerospace Business from Akzo Nobel". pcimag.com. Retrieved 13 November 2015. 
  7. ^ Gannon, Joyce (January 4, 2008). "Retired exec returns to PPG auto glass unit". Pittsburgh Post-Gazette. Retrieved Jul 18, 2013. 
  8. ^ "PPG Completes Acquisition of SigmaKalon Group". Reuters. January 2, 2008. 
  9. ^ https://www.zacks.com/stock/news/209144/ppg-industries-ppg-to-sell-minority-interest-in-pgw
  10. ^ "PPG completes acquisition of AkzoNobel North American architectural coatings business" April 1, 2012
  11. ^ Gannon, Joyce (April 1, 2014). "PPG finalizes sale of Transitions Optical for $1.73 billion - Pittsburgh Post-Gazette". Pittsburgh Post-Gazette. 
  12. ^ http://www.ppg.com/optical/opticalproducts/Pages/default.aspx
  13. ^ "PPG completes acquisition of Comex" November 5, 2014
  14. ^ http://www.reuters.com/article/us-vitro-ppg-idUSKCN1011V3
  15. ^ McDonald, Terrence T. (March 6, 2011). "More than 50,000 tons of soil removed from chromium site in Jersey City". The Jersey Journal 
  16. ^ Frohling, John B. (April 15, 2009). "Morris Canal Associates/Proposed Settlement Agreement Between PPG and the City of Jersey City" (PDF). www.state.nj.us/Frohling Assoc, LLC. 
  17. ^ Murray, Brian T. (June 12, 2009). "N.J. delays decision on setting stricter limits on carcinogen chromium". The Star-Ledger 
  18. ^ Arrue, Karina L. (October 21, 2010). "Jersey City is only New Jersey recipient of $2.3 million in federal grant money to fund planning for 7,000-unit development on 111-acre wasteland currently being cleaned of toxins". Jersey Journal. Retrieved 2011-04-03 
  19. ^ Navarro, Miyera (April 5, 2011). "Better Cleanup Planned at Former Chrome Plant". The New York Times. Retrieved 2011-04-06 

External links[edit]