PPG INDUSTRIES, INC.

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PPG Named Official Paint and Finishing Supplier of Indianapolis Motor Speedway, NTT INDYCAR SERIES

12/13/2021 | 11:02am EDT

PPG (NYSE: PPG) has reached an agreement to become the Official Paint and Finishing Supplier of the Indianapolis Motor Speedway (IMS) and the NTT INDYCAR SERIES.

As part of the multiyear agreement, PPG is also the Official Sponsor of Indianapolis 500 qualifying weekend. Drivers will compete for the prestigious Indianapolis 500 pole and one of the coveted 33 spots in the field for “The Greatest Spectacle in Racing” during PPG Presents Armed Forces Qualifying on Saturday, May 21 and Sunday, May 22 at IMS.

“PPG is one of the most loyal and trusted partners in the history of our sport, and we’re proud to pair IMS and INDYCAR with such an iconic and globally recognized brand,” Roger Penske said. “Like us, PPG is built on quality and leadership in the marketplace with a strong tradition of excellence spanning more than a century. We look forward to seeing and supporting PPG’s sponsorship activation, especially during Indy 500 qualifying weekend.”

“We are excited to continue and further expand our relationship with racing and specifically with the historic Indianapolis Motor Speedway,” said Michael McGarry, PPG chairman and chief executive officer. “PPG paints, coatings and specialty materials have been used throughout racing for decades, and now to have them be part of the future INDYCAR SERIES and IMS experience is an exciting opportunity. Our company purpose is ‘to protect and beautify the world,’ and this partnership will provide opportunities to bring this to life in new and colorful ways.”

The partnership revives a relationship between PPG, IMS and INDYCAR that began decades ago. PPG served as the title sponsor of the INDYCAR SERIES from 1980 to 1997. The company sponsored the Indianapolis 500 Pole Award and was an Indy 500 contingency sponsor from the mid-1970s until the late 1990s. PPG sponsored the winner’s trophy for the NASCAR Brickyard 400 at IMS from its inaugural race in 1994 through 2000.

PPG has enjoyed a longstanding relationship with Team Penske in both the NTT INDYCAR SERIES and NASCAR, dating back to 1984 when PPG provided the paint for Team Penske’s numerous race cars. Today, PPG’s involvement with the team includes primary sponsorship of Team Penske’s cars in both INDYCAR and NASCAR.

PPG: WE PROTECT AND BEAUTIFY THE WORLD™

At PPG (NYSE: PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for more than 135 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 75 countries and reported net sales of $13.8 billion in 2020. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

We protect and beautify the world is a trademark and the PPG Logo is a registered trademark of PPG Industries Ohio, Inc.

CATEGORY Automotive Refinish


ę Business Wire 2021
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Financials (USD)
Sales 2022 18 417 M - -
Net income 2022 1 501 M - -
Net Debt 2022 5 546 M - -
P/E ratio 2022 20,1x
Yield 2022 1,92%
Capitalization 29 366 M 29 366 M -
EV / Sales 2022 1,90x
EV / Sales 2023 1,75x
Nbr of Employees 49 300
Free-Float 40,5%
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Number of Analysts 22
Last Close Price 124,33 $
Average target price 158,50 $
Spread / Average Target 27,5%
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Managers and Directors
Michael H. McGarry Chairman & Chief Executive Officer
Vincent J. Morales Chief Financial Officer & Senior Vice President
David S. Bem CTO, Vice President-Science & Technology
Bhaskar Ramachandran Chief Information Officer & Vice President
Timothy M. Knavish Chief Operating Officer
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