PPG responds to Lowe's paint plans

Pittsburgh-based paint giant PPG responded to Lowe’s previously reported decision to expand its relationship with Sherwin-Williams. As part of the move, Lowe’s said Sherwin-Williams will become the only nationwide supplier to Lowe's U.S. retail outlets for interior and exterior paints.

PPG’s statement regarding the new Lowe's-Sherwin-Williams deal included the following:

“PPG today announced that late in the day on Feb. 27, 2018, Lowe’s informed PPG that it will discontinue the sale of Olympic brand paints and stains in its U.S. retail stores, effective mid-2018.

“PPG has had a long-standing relationship with Lowe’s, which provided a primary sales channel for a number of PPG’s brands, including its time-honored Olympic brand paints and stain products. While PPG is disappointed with Lowe’s decision, PPG believes this will create an opportunity to expand the distribution of its products, including Olympic brand products, through PPG stores, dealers and other distribution partners.

“Sales at Lowe’s stores in the U.S. represent less than $300 million of PPG’s annual sales. PPG plans to aggressively and appropriately adjust its cost structure to adapt to this change in its business. PPG continues to value its longstanding relationship with Lowe’s and will continue to supply certain specialty building materials to Lowe’s stores.

“PPG’s architectural paints, stains and coatings products are distributed through a diverse network that includes more than 900 company-owned stores, more than 4,000 independent dealers, and approximately 8,000 major retailer locations.”