PPG Sinks After Warning on Materials Costs, Weaker China Demand
An employee places a lid on a tin of ready mixed blue paint inside the PPG Industries Inc. paints and coatings factory in Amsterdam, Netherlands.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
PPG Industries Inc. tumbled after saying third-quarter earnings would lag analysts’ estimates because of rising costs and weaker demand for its paints.
Accelerating increases in raw-materials and transportation expenses are eroding profit, the Pittsburgh-based company said in a statement Monday. At the same time, demand in China is softening and sales of automotive paints are weakening.