DOCSLIB.ORG

PPG Industries Annual Report 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
PPG Industries Annual Report 2020 PPG Industries Annual Report 2020 Form 10-K (NYSE:PPG) Published: February 20th, 2020 PDF generated by stocklight.com UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number 1-1687 PPG INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Pennsylvania 25-0730780 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) One PPG Place Pittsburgh Pennsylvania 15272 (Address of principal executive offices) (Zip code) Registrant’s telephone number, including area code: 412 434-3131 Securities Registered Pursuant to Section 12(b) of the Act: Name of each exchange on Title of each class Trading Symbol(s) which registered Common Stock – Par Value $1.66 2/3 PPG New York Stock Exchange 0.875% Notes due 2022 PPG 22 New York Stock Exchange 0.875% Notes due 2025 PPG 25 New York Stock Exchange 1.400% Notes due 2027 PPG 27 New York Stock Exchange Securities Registered Pursuant to Section 12(g) of the Act: None Indicate by check mark if the Registrant is a well-known seasoned issuer as defined in Rule 405 of the Securities Act. Yes ☐ No ☒ Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒ Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by checkmark whether the registrant has submitted electronically every Interactive Date File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ (Do not check if a smaller reporting company) Emerging growth company ☐ If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Indicate by check mark whether the Registrant is a shell company (as defined by Rule 12b-2 of the Act). Yes ☐ No ☒ The aggregate market value of common stock held by non-affiliates as of June 30, 2019, was $27,547 million. 2 As of January 31, 2020, 235,755,928 shares of the Registrant’s common stock, with a par value of $1.66 /3 per share, were outstanding. As of that date, the aggregate market value of common stock held by non-affiliates was $28,220 million. DOCUMENTS INCORPORATED BY REFERENCE Incorporated By Document Reference In Part No. Portions of PPG Industries, Inc. Proxy Statement for its 2020 Annual Meeting of Shareholders III PPG INDUSTRIES, INC. AND CONSOLIDATED SUBSIDIARIES As used in this report, the terms “PPG,” “Company,” “Registrant,” “we,” “us” and “our” refer to PPG Industries, Inc., and its subsidiaries, taken as a whole, unless the context indicates otherwise. TABLE OF CONTENTS Page Part I Item 1. Business 7 Item 1A. Risk Factors 12 Item 1B. Unresolved Staff Comments 16 Item 2. Properties 16 Item 3. Legal Proceedings 16 Item 4. Mine Safety Disclosures 18 Part II Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 19 Item 6. Selected Financial Data 19 Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 20 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 32 Item 8. Financial Statements and Supplementary Data 34 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 80 Item 9A. Controls and Procedures 80 Item 9B. Other Information 80 Part III Item 10. Directors, Executive Officers and Corporate Governance 80 Item 11. Executive Compensation 80 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 80 Item 13. Certain Relationships and Related Transactions, and Director Independence 81 Item 14. Principal Accounting Fees and Services 81 Part IV Item 15. Exhibits, Financial Statement Schedules 81 Item 16. Form 10-K Summary 84 Signatures 85 Note on Incorporation by Reference Throughout this report, various information and data are incorporated by reference from the Company’s 2019 Annual Report (hereinafter referred to as “the Annual Report”). Any reference in this report to disclosures in the Annual Report shall constitute incorporation by reference only of that specific information and data into this Form 10-K. Part I Item 1. Business PPG Industries, Inc. manufactures and distributes a broad range of paints, coatings and specialty materials. PPG was incorporated in Pennsylvania in 1883. PPG’s vision is to be the world’s leading coatings company by consistently delivering high-quality, innovative and sustainable solutions that customers trust to protect and beautify their products and surroundings. PPG has a proud heritage and demonstrated commitment to innovation, sustainability, community engagement and developing leading-edge paint, coatings and specialty materials technologies. Through dedication and industry-leading expertise, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. PPG is a global leader, serving customers in construction, consumer products, industrial and transportation markets and aftermarkets with manufacturing facilities and equity affiliates in more than 70 countries. Performance Coatings and Industrial Coatings PPG’s business is comprised of two reportable business segments: Performance Coatings and Industrial Coatings. The Performance Coatings and Industrial Coatings reportable business segments supply coatings and specialty materials to customers in a wide array of end-uses, including industrial equipment and components; packaging material; aircraft and marine equipment; automotive original equipment; automotive refinish; as well as 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 many regional coatings companies. PERFORMANCE COATINGS Strategic Business Main Distribution Unit Products Primary End-uses Methods Primary Brands Automotive and commercial transport/fleet Coatings, solvents, Automotive Refinish repair and refurbishing, Independent distributors adhesives, sealants, PPG®, SEM® Coatings light industrial coatings and direct to customers sundries, software and specialty coatings for signs Coatings, sealants, transparencies, transparent armor, adhesives, Commercial, military, Direct to customers and Aerospace Coatings engineered materials, regional jet and general company-owned PPG® packaging and chemical aviation aircraft distribution network management services for the aerospace industry Direct to customers, Metal fabricators, heavy company-owned Coatings and finishes for the duty maintenance Protective and architectural coatings protection of metals and contractors and PPG® Marine Coatings stores, independent structures manufacturers of ships, distributors and bridges and rail cars concessionaires PPG®, GLIDDEN®, COMEX®, OLYMPIC®, DULUX® (in Canada), SIKKENS®, PPG Architectural PITTSBURGH PAINTS®, MULCO®, Company-owned stores, Coatings Americas Painting and maintenance FLOOD®, LIQUID NAILS®, SICO®, home centers and other and Asia Pacific contractors and RENNER®, TAUBMANS®, WHITE regional or national Paints, wood stains, consumers for decoration KNIGHT®, BRISTOL®, HOMAX® among consumer retail outlets, adhesives and purchased and maintenance of others paint dealers, sundries residential and SIGMA®, HISTOR®, SEIGNEURIE®, concessionaires, Architectural commercial building GUITTET®, PEINTURES GAUTHIER®, independent distributors Coatings Europe, structures RIPOLIN®, JOHNSTONE’S®, LEYLAND®, and direct to consumers Middle East and PRIMALEX®, DEKORAL®, TRILAK®, Africa (EMEA) PROMINENT PAINTS®, GORI®, BONDEX®, and DANKE!® among others This reportable business segment primarily supplies a variety of protective and decorative coatings, sealants and finishes Segment Overview along with paint strippers, stains and related chemicals, as well as transparencies and transparent armor. Product performance, technology, quality, technical and customer service, price, customer productivity,
Load more

Recommended publications
  • 2017 Annual Report
    2017 Annual Report The PPG Logo and Colorful Communities are registered trademarks and PPG Science Pavilion and We protect and beautify the world are trademarks of PPG Industries Ohio, Inc. Fortune is a registered trademark of Time, Inc. Forbes is a registered trademark of Forbes, LLC. Corporate Equality Index is a registered trademark of Human Rights Campaign Foundation Corporation. IndustryWeek is a registered trademark of Penton Media, Inc. The Wall Street Journal and Barron's are registered trademarks of Dow Jones. UniversalPHOLED is a registered trademark of Universal Display Corporation. ©2018 PPG Industries, Inc. All rights reserved. A Message from Our Chairman From hardtops to rooftops, Our Valued Shareholders, we’ve got you covered. Thanks to our employees and customers, PPG delivered a solid performance in 2017. As I travel to PPG facilities around the world, I am always impressed by our people and their focus on strengthening our company, serving our customers’ needs, and bringing life to our purpose and promise: We protect and beautify the world. Michael H. McGarry Chairman and Chief Executive Officer FINANCIAL This focus, which begins with the with more than $1.2 billion returned HIGHLIGHTS performance of our business, in 2017 through share repurchases was a key to our success in 2017. and dividends. We take great pride With the dedication of our 47,000 in having paid annual dividends for $ employees and the trust of our 118 consecutive years, including a 14.8B customers, we have continued 13 percent per-share increase last Net sales, up more than to strengthen our position as a July that marked 46 consecutive 3 percent versus 2016 global leader in the paint and years of increased per share coatings industry.
    [Show full text]
  • Corporate Sustainability Report Update a Message from the Chairman I Am Pleased to Present the 2009 Update to PPG’S Corporate Sustainability Report
    2009 Corporate Sustainability Report Update A Message From the Chairman I am pleased to present the 2009 update to PPG’s Corporate Sustainability Report. Last year, we published our first sustainability report, covering activities in 2008. At that time, we announced our intention to produce a full report every two years, issuing an update in intervening years to summarize new data and developments. This is the first of these updates, reflecting new activities and information for 2009. As an update to our inaugural Corporate Sustainability Report, it is designed to be read in conjunction with the original report. While 2009 clearly posed challenges for our businesses in terms of difficult economic conditions, I believe that PPG’s performance was admirable under the circumstances. Of equal As I said in my first letter, over the course of our more than importance, however, the economy did not detract from or 125-year history, PPG has grown and thrived by making sound deter our efforts toward driving the concepts of sustainability business decisions, and we are no stranger to the concepts throughout everything we do at PPG. of sustainable business practices. Moreover, we hope that the issuance of these reports and updates encourages our In this update, you’ll read about how our business portfolio stakeholders to engage in a dialogue with our company continues to evolve; how we managed through the recent that results in improved performance and greater mutual recession; new environmentally-beneficial products we understanding. introduced in 2009; our progress toward our environmental, health and safety goals; new philanthropic initiatives; awards and recognition we’ve received, and more.
    [Show full text]
  • 2020 Annual Report
    2020 Annual Report Some photos taken prior to the start of the COVID-19 pandemic. A Message from Our Chairman Dear Shareholders, We generated more than $2.1 billion of cash from operations, which is a record, and we For all of us, 2020 was a year of significant continue to have excellent financial flexibility challenges and many sacrifices. We have with cash and short-term investments of learned to adapt through a global pandemic, about $1.9 billion at year-end. We also respond to an uncertain economic continued our legacy of returning cash environment, meet the changing needs to shareholders, with about $500 million of our customers, help support our returned in 2020 through dividends, communities, and confront social equality including an annual per share dividend and injustice. increase for the 49th consecutive year. Despite these challenges, I am extremely Our capital-light structure enabled us to proud of how our 47,000 employees sustain long-term investments, despite the came together as One PPG. Thanks to challenging economic environment in 2020. the dedication of our people, we’ve seen We continued to invest in mobility and digital countless, extraordinary examples of efforts initiatives that will pay significant dividends to keep our operations running. Today, PPG in the years ahead. We launched new passive remains steadfast in our commitment to fire protection coatings for the inside of develop innovative products and sustainable battery casings for electric vehicles and Our focus on the future solutions that create value for our customers thermal gap fillers, delivering initial wins in and our shareholders – growing sales I strongly believe that we are well-positioned the automotive market beyond our traditional as a company for the coming year and beyond.
    [Show full text]
  • Investor Comex Deep Dive
    Investor Comex Deep Dive June 18th 2015 These matters within the meaning of difficulties in integrating acquired considered to be a complete PPG Comex Section 27A of the Securities Act of businesses and achieving expected statement of all potential risks and 1933, as amended, and Section 21E synergies there from, economic and uncertainties. Unlisted factors may Important Notice of the Securities Exchange Act of political conditions in international present significant additional 1934, as amended, involve risks and markets, the ability to penetrate obstacles to the realization of Forward-Looking Statements uncertainties that may affect PPG’s existing, developing and emerging forward-looking statements. operations, as discussed in PPG’s foreign and domestic markets, Consequences of material differences Statements contained herein relating to filings with the Securities and foreign exchange rates and in results compared with those matters that are not historical facts are Exchange Commission pursuant to fluctuations in such rates, anticipated in the forward-looking forward-looking statements reflecting PPG’s Sections 13(a), 13(c) or 15(d) of the fluctuations in tax rates, the impact statements could include, among Exchange Act, and the rules and of future legislation, the impact of other things, lower sales or earnings, current view with respect to future events regulations promulgated there under. environmental regulations, business disruption, operational and financial performance. Accordingly, many factors could cause unexpected business disruptions, and problems, financial loss, legal liability actual results to differ materially from the unpredictability of existing and to third parties and similar risks, any the forward-looking statements possible future litigation, including of which could have a material contained herein.
    [Show full text]
  • Ppg: Retail Architectural Coatings for the Diy Generation X, Y and Milleneals
    PPG: RETAIL ARCHITECTURAL COATINGS FOR THE DIY GENERATION X, Y AND MILLENEALS AMA Faculty Outreach – Pittsburgh Chapter This case was prepared by Jeananne Nicholls, of Slippery Rock University, for the Pittsburgh Chapter of the American Marketing Association. It is intended as the basis for a regional case competition and is not designed to illustrate effective or ineffective handling of an administrative situation. The case was designed in cooperation with PPG. However, where necessary proprietary information has been safeguarded by changing information. This case is not to be considered a literal representation or interpretation of PPG nor its constituents’ interests, therefore, this case should not be used for research purposes. The author gratefully acknowledges the contributions made to this case by PPG’s Jeff Black and Kristen Canale. PPG: RETAIL ARCHITECTURAL COATINGS FOR DIYers FROM GENERATIONS X, Y AND BEYOND Jeff Black (East Zone Operations Director, US Stores, PPG Architectural Coatings) acknowledged Kristen Canale (East Zone HR Manager & U.S. Dealer, PPG Architectural Coatings) and AMMc, an “up and coming” PPG Retail Color Marketing Manager, as they walked into the meeting room to talk about recruiting college interns for a newly expanded internship in PPG Paints Retail Stores. For the last 12 months Jeff, Kristen and various other PPG colleagues have been meeting to identify strategies for staffing the expanding presence of the retail stores in the East Zone, especially in the Pittsburgh area—the home to PPG Global HQ. There have been numerous discussions to identify ways to create consumer buzz in DIY architectural coatings…a relatively new growth area for PPG…and increase foot traffic in the retail stores.
    [Show full text]
  • Ppg 2014 Def
    PPG Industries, Inc. One PPG Place Pittsburgh, Pennsylvania 15272 March 6, 2014 Dear Shareholder: You are cordially invited to attend the 2014 Annual Meeting of Shareholders of PPG Industries, Inc. to be held on Thursday, April 17, 2014, at the Fairmont Pittsburgh, Grand Ballroom, 510 Market Street, Pittsburgh, Pennsylvania 15222. The meeting will begin at 11:00 a.m., Eastern Time. The following pages contain the formal Notice of Annual Meeting and Proxy Statement. Please review this material for information concerning the business to be conducted at the meeting, including the nominees for election as directors. We are furnishing our Proxy Statement and other proxy materials to our shareholders over the Internet. The “General Matters” section of the Proxy Statement contains instructions on how you can receive a paper copy of the Proxy Statement and the 2013 Annual Report. Your vote is important. Whether you plan to attend the meeting in person or not, we hope you will vote your shares as soon as possible. Please vote via the Internet or telephone, or by paper proxy card or vote instruction form. This will ensure representation of your shares if you are unable to attend the meeting. We look forward to greeting personally those shareholders who will be present in person. Sincerely yours, Charles E. Bunch Chairman of the Board and Chief Executive Officer PPG INDUSTRIES, INC. One PPG Place, Pittsburgh, Pennsylvania 15272 NOTICE OF ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON APRIL 17, 2014 Dear Shareholder: We will hold the 2014 Annual Meeting of Shareholders of PPG Industries, Inc.
    [Show full text]
  • PPG Corporate Sustainability Report Update a Message from the Chairman
    2011 PPG Corporate Sustainability Report Update A Message From the Chairman am pleased to present the 2011 Update to From an economic perspective PPG delivered I PPG’s Corporate Sustainability Report. This record full-year earnings per share of $6.87 in 2011. document provides updates to our 2010 Corporate This represents an increase of 48 percent over 2010 Sustainability Report and is designed to be read in and easily established a new record for the company. conjunction with that report. This strong performance was achieved despite global 2011 was an excellent year for PPG by nearly every growth rates that were uneven by region and varied by measure. True to our “Blueprint” values, we made industry. More importantly, these results demonstrate progress on many of our ethics; environment, health that our mission to continue to be the world’s leading and safety; and community engagement programs. In coatings and specialty products company, supported 2011, we revised our Global Code of Ethics to make by our strategic initiatives to pursue profitable growth it even stronger. For the second consecutive year, and drive operational excellence, is clearly yielding we reduced our significant spill and release rate and results. maintained our low level of injuries and illnesses across In this update, you’ll read about how our businesses the corporation. And, we expanded our community are performing; new “green” products we’ve and social responsibility initiatives on a global scale. introduced this year to help our customers solve some of their technical challenges; our progress toward environmental, health and safety goals; and our new efforts to support PPG communities on a global level.
    [Show full text]
  • PPG Corporate Sustainability Report
    2012 PPG CORPORATE SUSTAINABILITY REPORT Bringing innovation to the surface.™ LETTER FROM THE CHAIRMAN his year marks PPG’s 130th in business. Since our earliest commitment and provide our global employees with the framework T days, sustainable business practices have been embedded to continue to drive environmental stewardship at PPG facilities. in our culture and strategy. Today, our global growth and expansion They also further empower our employees to create safer and continue to be supported by a belief that these practices are not healthier workplaces. 2 only the right things to do, but that they also give PPG and our 0 customers competitive advantages. The launch of our new sustainability vision, values and goals follows 1 more than a year of in-depth internal and external analysis to 2 During the last decade, PPG has transformed itself from a diversified, determine what is most meaningful and impactful to PPG and our multibusiness manufacturer to being the world’s leading coatings stakeholders. These tenets are directly linked to PPG’s core vision P P and specialty products company. In early 2013, PPG completed and values, thereby supporting the sustainability of our enterprise. G two strategic actions first announced in 2012 that have significantly In 2013, we intend to expand and enhance accelerated our transformation. First, we finalized the separation the ways in which we engage employees in I of our former commodity chemicals business and its subsequent innovative programs to achieve our goals. n merger with Georgia Gulf to create Axiall Corporation. Second, we d expanded our architectural coatings portfolio with the acquisition of Metrics in this report include data from our u AkzoNobel’s North American architectural coatings business.
    [Show full text]
  • PPG Industries 2016 Annual Report
    2016 Annual Report The PPG Logo is a registered trademark and Colorful Communities, PPG Paints Arena and We protect and beautify the world are trademarks of PPG Industries Ohio, Inc. Comex is a registered trademark of Consorcio Comex, S.A. de C.V. Pittsburgh Penguins is a registered trademark of Pittsburgh Penguins, L.P. ©2017 PPG Industries, Inc. All rights reserved. 2016 Colorful Communities Initiative Our Valued PPG Shareholders, + PPG had a successful year in 2016, despite a more 40 20 PROJECTS COUNTRIES challenging global economic environment and growing geopolitical uncertainty in many of the regions where we operate. Thanks to our customers and employees, we were able to continue to strengthen our paint and coatings business around the world. 17,415 Highlighting our financial We also completed several strategic In addition, our employees continue VOLUNTEER HOURS performance, we: actions to make PPG stronger and to develop ways to improve the way more resilient in the future. These we operate. Last year, nearly 200 3,430 • Reported net income from included: projects were recognized through our VOLUNTEERS continuing operations of $564 internal sustainability awards initiative. million, or $2.11 per diluted share. • The completion of four acquisitions, We estimate that our sustainability increasing our geographic and and ergonomic-related improvement • Reported adjusted earnings per product scope: MetoKote (U.S. projects in 2016 saved more than diluted share from continuing coatings services), Univer (Italy $30 million. operations of $5.82. architectural coatings), Deutek (Romania architectural coatings, In our communities, PPG volunteers • Achieved 7 percent adjusted closed in January, 2017) and Futian led more than 40 COLORFUL earnings per diluted share growth.
    [Show full text]
  • 2020 Annual Report & Form 10-K
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number 1-1687 PPG INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Pennsylvania 25-0730780 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) One PPG Place Pittsburgh Pennsylvania 15272 (Address of principal executive offices) (Zip code) Registrant’s telephone number, including area code: 412 434-3131 Securities Registered Pursuant to Section 12(b) of the Act: Name of each exchange on Title of each class Trading Symbol(s) which registered Common Stock – Par Value $1.66 2/3 PPG New York Stock Exchange 0.875% Notes due 2022 PPG 22 New York Stock Exchange 0.875% Notes due 2025 PPG 25 New York Stock Exchange 1.400% Notes due 2027 PPG 27 New York Stock Exchange Securities Registered Pursuant to Section 12(g) of the Act: None Indicate by check mark if the Registrant is a well-known seasoned issuer as defined in Rule 405 of the Securities Act. Yes ☐ No ☒ Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒ Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days.
    [Show full text]
  • PPG Corporate Sustainability Report a Message from the Chairman
    2010 PPG Corporate Sustainability Report A Message From the Chairman . 1 Business Performance . 16 Contents Company Profile . 2 Energy & the Environment . 20 Stakeholder Engagement . 4 Employees & the Workplace . 34 Leadership, Innovation & Sustainability . 6 Community Involvement & Social Performance . 42 Ethics & Compliance . 8 Awards & Recognition . .. 50 Corporate Governance . 10 Boundary & Scope of Report, GRI Index . 54 2010 PPG CORPORATE SUSTAINABILITY REPORT A Message From the Chairman hen I think about sustainability at PPG, two It is my belief that, over the next several years, W thoughts come to mind . First, in many ways we will be able to leverage these opportunities and what PPG is doing in terms of sustainability is new . We overcome this obstacle . are taking advantage of new technologies and new When PPG published its first sustainability report in capabilities, and we are bringing a new emphasis 2008, we stated our intent to issue a full report every and management structure to bear on achieving our two years and updates in intervening years . Now, goals . On the other hand, sustainability is business in this second full report, you will not only read the as usual at PPG . An underlying principle for the facts and figures that represent the measurement company since its founding in 1883, a commitment of our efforts over the past two years, but you’ll also to sustainability has been crucial to our long-term see specific examples of how we have elevated our success, and we have grown and thrived by making approach and challenged ourselves to grow in a sound business decisions with profit, people and sustainable way .
    [Show full text]
  • PPG Industries, Inc. All Rights Reserved
    ~$400M Completed $15.3B acquisitions Net sales Full-year 2015 Full-year 2015 $1.5B ~$475M Cash and Capital short-term spending investments and growth At year-end projects Full-year 2015 2015 Annual Report linkedin.com/company/ppg-industries PPG One PPG Place facebook.com/ppgindustries Pittsburgh, PA 15272 twitter.com/ppgindustries 412.434.3131 The PPG Logo is a registeredyoutube.com/user/PPGIndustriesInc trademark and Colorful Communities and We protect and beautify the world are www.ppg.com trademarks of PPG Industries Ohio, Inc. Comex is a registered trademark of Consorcio Comex, S.A. de C.V. Copyright © 2016 PPG Industries, Inc. All rights reserved. Letter from the President For us, making the world and Chief Executive Officer a more beautiful place starts right at home. PPG-Comex recently celebrated the opening of its 4,000th store. NO INK To Our Valued PPG Shareholders, 2015 was another record year for our 132-year- old company. Thanks to our customers and employees, we were able to strengthen our AQUEOUS global paint and coatings businesses despite some challenging global economic conditions. Throughout the year, we continued to deliver on our commitment to produce industry leading paint, coatings and specialty materials that our customers trust to protect and beautify their products and surroundings. Our employees’ DO NOT PRINT dedication, energy, innovative spirit and technical know-how are key reasons why customers rely on PPG. Our Performance PPG delivered strong financial results in 2015, achieving the highest adjusted earnings per diluted share in company history. Our Strategic Actions Highlights of our financial performance include: We also completed several strategic In 2015, we continued to reinvest in our initiatives aimed at creating long-term businesses while also distributing cash • Record full-year adjusted earnings per value for our shareholders.
    [Show full text]