Reducing Activities: company scaling back some business operations while continuing others

Wait Scaling Back

PPG Industries, Inc. is an American Fortune 500 company and global supplier of paints, coatings, and specialty materials. With headquarters in Pittsburgh, Pennsylvania, PPG operates in more than 70 countries around the globe. By revenue it is the largest coatings company in the world followed by AkzoNobel.

Reducing Activities: company scaling back some business operations while continuing others

Wait Scaling Back
Glob.Revenue, mln.USD
16802

Due to the inability to sustainably operate at even the bare minimum, PPG Industries has made the decision to activate options to exit Russia, including a possible sale or controlled exit from the Russian market.

The Company Statement
March 23, 2022

Reducing operations in Russia due to deteriorating business conditions and regulatory restrictions. Suspending sales to Russian state-owned entities, aerospace markets, and other sanctioned parties. Suspended new investments. Continuing to supply of coatings to food and beverage packaging customers. Continuing sales of essential products in Russia to generate local currency in order to maintain employment and meet payroll. Pledge of donation of net profits generated in 2022 from Russian operations to NPOs for humanitarian support.

June 22, 2022Tikkurila leaves Russia
April 28, 2022The head of the Lipetsk region promised to support PPG
March 24, 2022PPG and Tikkurila scale down their operations in Russia
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