The industrial paint manufacturer founded in 1883, whose moto is “we protect and beautify the world”, has promised to stop selling lead-based paints by 2020 it was announced this week!
As a multi-faceted business PPG Industries has to work hard to maintain its reputation as a company that cares. It has therefore announced it will remove all lead from its industrial paint products by 2020. It ceased selling lead based paint to consumers many years ago and this is considered the next stage in that process.
Lead paint was banned from residential use in 1978 as prolonged exposure can damage children’s brains. A group of shareholders at the company tried to push PPG Industries to remove lead altogether in 2014. However the board was against the proposal. We learned SEC said the company did not have to put the request to a shareholder vote in 2015.
But this decision was reversed as the business has stared to re-brand. The negative impact of lead on the environment is outweighed by the positive response and feedback received by the company since the decision was made. Michael McGarry CEO of PPG Industries Inc. said :
We are phasing out of lead,” he said. “In our latest sustainability report we note that we have been reducing that over the years. From a strategic standpoint, we took several actions to strengthen our paint and coatings business. Our acquisition pipeline remains robust as we continue to evaluate acquisitions around the world.