NEW YORK – During PPG Industries’ 2010 Capital Markets Day, Chairman and CEO Charles E. Bunch and other senior management officials described how the company’s strategy has created a leaner, stronger, more global company sharply focused on coatings, specialty products and emerging regions. They also discussed PPG’s recent actions to weather the recession and position the company for continued growth in 2011 and beyond.
“PPG today is well positioned to capitalize on the continued recovery in the global economy,” Bunch said. “During the recession, we hunkered down, took significant restructuring actions, focused on reducing costs and generating cash, and also selectively invested for growth. We succeeded in each of these areas. Our efforts delivered resilient financial performance and superior returns to shareholders.”
In its most recent quarter, the company reported record adjusted earnings of $1.59 per share, despite overall volumes that were nearly 10 percent below pre-recession levels.
“Looking ahead, we plan to continue our strategy to grow and strengthen our coatings and specialty products businesses through innovation and expansion in emerging regions,” Bunch said. “We also intend to leverage our global capabilities and make selective investments.”
With Improved Performance, PPG Expects Continued Growth
December 19, 2010