PPG Industries, Inc. : PPG Announces Licensing Agreement with China-based Henan Billions for Titanium Dioxide Technology
06/26/2012| 09:30am US/Eastern
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PPG Industries (NYSE:PPG) announced today that it has signed a
memorandum of understanding with Henan Billions Chemicals Co., Ltd.
(Billions), by which PPG will license certain chloride-based
technologies to Billions for use at Billions' titanium dioxide (TiO2)
refinement facilities in China. In addition, PPG has signed a long-term
purchase agreement for titanium dioxide with Billions. Commercial terms
of the agreements and license proceeds from Billions to PPG were not
disclosed.
PPG intends to use the chloride-based TiO2 manufactured by Billions for
various end-use applications, including paints and other coatings. The
TiO2 also would be available for sale to third parties.
"This agreement with Billions provides further evidence of PPG's
commitment to utilize our existing expertise to expand and secure
additional global supply of titanium dioxide," said Charles F. Kahle II,
PPG chief technology officer and vice president, coatings research and
development.
PPG previously manufactured titanium dioxide using the chloride process
at its chemicals facility in Natrium, W.Va., and sold titanium dioxide
pigment for coatings and other end-use applications. Titanium dioxide is
a raw material widely used in the paint and coatings industry as a
pigment to provide hiding, durability and whiteness characteristics.
About Henan Billions Chemicals
China-based Henan Billions Chemicals Co., Ltd., produces and
sells titanium dioxide, zirconium and aluminum sulfate. The company is
located in Jiaozuo City, Henan Province, and had 2011 sales of about
$300 million. Its shares are traded on the Shenzhen stock exchange.
PPG: BRINGING INNOVATION TO THE SURFACE.(TM)
PPG Industries' vision is to continue to be the world's leading coatings
and specialty products company. Through leadership in innovation,
sustainability and color, PPG helps customers in industrial,
transportation, consumer products, and construction markets and
aftermarkets to enhance more surfaces in more ways than does any other
company. Founded in 1883, PPG has global headquarters in Pittsburgh and
operates in more than 60 countries around the world. Sales in 2011 were
$14.9 billion. PPG shares are traded on the New York Stock Exchange
(symbol:PPG). For more information, visit www.ppg.com.
Forward-Looking Statements
Statements in this news release relating to matters that are not
historical facts are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 reflecting the
company's current view with respect to future events or objectives and
financial or operational performance or results. The forward-looking
statements contained herein include statements relating to the expected
benefits of the collaboration with Billions. Actual events may differ
materially from current expectations and are subject to a number of
risks and uncertainties, including the failure to produce a viable
titanium dioxide product, the failure to achieve the other expected
benefits of the collaboration with Billions, and the other risks and
uncertainties discussed in PPG Industries' 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. Forward-looking statements speak
only as of the date of their initial issuance, and PPG Industries does
not undertake any obligation to update or revise publicly any
forward-looking statement, whether as a result of new information,
future events or otherwise.
Bringing innovation to the surface is a trademark of PPG
Industries Ohio, Inc.
PPG Industries, Inc.
Jeremy Neuhart, PPG Corporate Communications,
412-434-3046
neuhart@ppg.com
or
Investors:
Vince
Morales, PPG Investor Relations, 412-434-3740
vmorales@ppg.com
© Business Wire 2012
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