PITTSBURGH--(BUSINESS WIRE)--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
