PPG CEO mentions ArgexNice to see that PPG CEO are fully aware of Argex and the possibilities ahead. We are not mentioned in the same group as "the other startups businesses around the world".
Operator
Your next question comes from the line of Bill Young, representing Chemspeak.
William Young
My question relates to, any changes in your long-term procurement strategy for raw materials? And along those lines, where do you stand on your licensing agreement with Billions?
Charles E. Bunch - Chairman, Chief Executive Officer and Member of Operating Committee
Long-term procurement strategy for us, we've been trying -- we've had centralized global purchasing of raw materials for many years. And we continue to operate that with the same type of organization and strategy. As we've seen all of this growth for our coatings businesses in Asia and in Europe over the last few years, we think it's going to be a continuation of the same. And the opportunity and the agreement with Billions will give us, we think, as they continue their commitment to continue to grow their position in the global TiO2 industry, we think we have a good opportunity with them and with a number of our other suppliers to continue to grow with them, participate. We've talked -- we had an announcement recently about our Argex commercial development agreement. This is a startup company in Canada, as an example. So we continue to expand as we globalize and expanded our coatings business, expand our relationships with both the traditional and conventional sources of supply, but also new and emerging sources of supply or suppliers in Asia or other startup businesses around the world. So we're pretty confident that our strategy remains the same but we're going to take advantage of some of the new opportunities that we see developing, especially in the emerging regions.