The price increase of 5-7% will take place on 1 October, or as permissible by contract. “The increase in chopped strand pricing reflects the increasing costs of raw materials and historically weak pricing in the market,” says Kevin McDonald, PPG general manager, fiber glass. “As worldwide demand returns, price increases are needed to cover cost increases and enable reinvestment in furnace capacity.” Pittsburgh, USA, based PPG (NYSE: PPG) is a global supplier of paints, coatings, optical products, speciality materials, chemicals, glass and fibre glass.
