PPG sees bright hopes for growth
Print Edition
PPG Industries Inc, a leading paints and coatings maker, said the strong automobile and construction markets in China have propped up its business in the country while signs of a pick-up in the economy bodes well for its prospects.
The slowdown in China’s economy has been “pretty gradual” and the economy is “healthy,” said Mike Horton, president for Asia Pacific of PPG, which makes paints and coatings for autos, aircraft and other industries.
“Over the last couple of months, we’ve seen some encouraging signs that the slowdown has stopped,” he said in a recent interview, citing China’s purchasing managers’ index and export numbers.
Although the auto and construction markets in China remained solid, PPG’s marine business slowed as the slump in global shipping cut demand for ships. But overall, Horton said PPG is confident most of its business in China will grow by double digits.
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