PPG Comments Crucial This was tacken from the conference Call with PPGs CEO Bunch..Crucial
Laurence Alexander- Jefferies & Company, Inc., Research Division
Two quick questions. First, could you give an update on your thinking about alternative TiO2 supplies in the sense of either encouraging technology distribution in China or the projects up in Canada with, I believe, it was Argex?
Charles E. Bunch- Chairman, Chief Executive Officer and Member of Operating Committe
Yes, we're continuing to pursue these initiatives and opportunities. As I mentioned earlier, the TiO2 pricing, although moderating now, is still up year-over-year if you look at the third quarter of 2011 and not insignificantly. So that I think that the trends would say that we're not going to back off our initiatives either on productivity or expanding our supply base or in trying to use our history in manufacturing in the TiO2 business to enable current TiO2 suppliers to improve their capabilities. We're not backing off any of those initiatives because we've had a few months of stable to slightly lower pricing. So those are continuing and we feel that they will help to position ourselves and hopefully the entire industry to be in a better supply-demand balance going forward