PPG to build new paint and coatings manufacturing facility in Tennessee as part of $300 million investment in advanced manufacturing in North America
2024年5月21日 - 9:59PM
ビジネスワイヤ(英語)
- Aimed at driving growth and operational efficiency in
automotive coatings
- Investments in PPG’s Cleveland, Ohio and San Juan Del Rio,
Mexico facilities will enhance production capabilities
PPG (NYSE: PPG) today announced it will invest $300 million in
advanced manufacturing in North America to support increased demand
for paints and coatings in the automotive industry. These
investments will commence in 2024 and span a four-year period.
As part of the initiative, PPG will build a new paint and
coatings manufacturing plant in Loudon County, Tennessee. The
250,000-square-foot facility, PPG’s first new manufacturing plant
to be built in the U.S. in more than 15 years, will initially
produce paints and coatings products and solutions for automakers
and automotive parts suppliers. The facility could eventually
supply other industrial segments, including transportation, heavy
duty equipment, building and construction, and consumer products.
Once fully operational, the facility will employ approximately 130
full-time employees and produce more than 11 million gallons of
paint and coatings annually. Construction of the facility will
begin in August 2024 and is expected to be completed in 2026.
PPG’s advanced manufacturing investments will also enhance and
expand activities at existing facilities in Cleveland, Ohio and San
Juan Del Rio, Mexico. The investments cover new equipment and
processes that will increase manufacturing efficiencies, resulting
in improved processing times, and will expand PPG’s capabilities to
meet growing demand for sustainable solutions, such as waterborne
coatings. The investment represents a strategic, growth-focused
investment for PPG, but does not represent a change in the
company’s overall capital investment spending levels, which will be
consistent with prior years.
“Innovation is at the forefront of PPG’s purpose in protecting
and beautifying the world. These investments continue to modernize
and digitize our manufacturing capabilities, and demonstrate PPG’s
continued focus on quality and service to our customers as the
premier single-source coatings supplier for every vehicle surface,”
said Tim Knavish, PPG chairman and chief executive officer. “As we
continue to see a resurgence of manufacturing in the U.S., PPG will
leverage this new facility and our other site investments to
maximize quality, improve operational efficiency, and reduce
product complexity within our manufacturing footprint.”
“As the automotive industry continues to transform, we’re
excited to expand our manufacturing capabilities to meet the
evolving needs of our automotive customers,” said Alisha Bellezza,
PPG senior vice president, automotive coatings. “The strategic
location of PPG’s new facility in Tennessee also creates a more
efficient and effective supply chain with close proximity to many
automotive manufacturing facilities, which will further enhance the
service experience for our customers.”
“Tennessee is leading the nation in attracting top global brands
like PPG. I welcome PPG and thank this company for its commitment
to creating greater opportunity for the Tennesseans across the
Greater Knoxville region,” said Tennessee Governor Bill Lee.
To learn more about PPG’s automotive products, visit
ppg.com/autocoatings.
PPG: WE PROTECT AND BEAUTIFY THE WORLD®
At PPG (NYSE:PPG), we work every day to develop and deliver the
paints, coatings and specialty materials that our customers have
trusted for more than 140 years. Through dedication and creativity,
we solve our customers’ biggest challenges, collaborating closely
to find the right path forward. With headquarters in Pittsburgh, we
operate and innovate in more than 70 countries and reported net
sales of $18.2 billion in 2023. We serve customers in construction,
consumer products, industrial and transportation markets and
aftermarkets. To learn more, visit www.ppg.com.
Forward-Looking Statements
The forward-looking statements contained herein include
statements relating to the timing of and expected benefits of the
new paint and coatings manufacturing plant in Loudon County,
Tennessee and other manufacturing investments in Cleveland, Ohio
and San Juan Del Rio, Mexico. Actual events may differ materially
from current expectations and are subject to a number of risks and
uncertainties, including the timing of the completion of these
projects, the realization of the expected benefits of these
projects, and the other risks and uncertainties discussed in PPG’s
periodic reports on Form 10-K and Form 10-Q and its current reports
on Form 8-K filed with the Securities and Exchange Commission.
CATEGORY Corporate
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version on businesswire.com: https://www.businesswire.com/news/home/20240521466578/en/
PPG Media Contact: Mark Silvey Corporate Communications
silvey@ppg.com PPG Investor Contact: Jonathan Edwards
Investor Relations +1-412-434-3466 jonathanedwards@ppg.com
investor.ppg.com
PPG Industries (NYSE:PPG)
過去 株価チャート
から 5 2024 まで 6 2024
PPG Industries (NYSE:PPG)
過去 株価チャート
から 6 2023 まで 6 2024