PPG recently reported fourth quarter 2016 net sales of $3.5 billion, down more than 1% vs. the prior year. Reported net income in the fourth quarter of 2016 from continuing operations was $77 million. Net sales in the performance coatings segment in the fourth quarter were $1.98 billion, a decrease of $80 million, or less than 4%, vs. the prior year. Sales volumes dropped less than 1%, with acquisition-related sales providing a minimal benefit.

Automotive refinish sales grew organically by a low-single-digit percentage, led by increased demand in Europe. Aerospace sales in local currencies were reportedly consistent with the prior year, as industry demand growth remained modest. Protective and marine coatings sales volumes declined by a low-double-digit percentage year-over-year as growth in protective coatings was more than offset by further weakness in shipbuilding activity in Asia-Pacific.