Coatings giant PPG Industries’ (PPG - Analyst Report) PPG PITTSBURGH PAINTS brand has introduced a palette of 42 colors named the Atlantic Color Collection. One can avail the collection at Kent locations in any of the PPG Pittsburgh Paints paint lines.
The shades are in tune with the coastal hues of Canada’s Atlantic region. The inspiration behind this collection was drawn from the nature’s true east coast warmth and relaxed mood. The palette combines local marine-inspired shades for both interior and exterior home color combinations.
The new collection combines shades that bring to life the natural essence of the Atlantic region and the colors are influenced by the deep green foliage of the forests, mystical blues of the sky and waves, warm tones of the sand dunes and tranquil grays of the seashells and ocean mist.
The palette’s ‘Bay of Fundy’ and ‘Foggy Beach’ shades reflect the influences of the water and natural landscapes capturing a soft light that accompanies the area’s long winters and moody waters. PPG color experts traveled the Atlantic region and picked color memories and used its resemblances in each and every color of the palette.
The Atlantic Color Collection, developed by local PPG architectural coatings representatives and color experts, is part of PPG Pittsburgh Paints’ The Voice of Color program. The Voice of Color program is a design system that depends on the hypothesis that every color speaks and there is an emotional attachment of the colors with the individuals who are drawn to various colors for reasons mainly tied to their unique personality and complement their styles.
PPG Industries posted its second quarter 2013 results on Jul 18. The company posted earnings (barring one time items) from continuing operations of $2.45 a share in the quarter, which beat the Zacks Consensus Estimate by $0.11. The adjusted earnings exclude acquisition charges.
Revenues rose 16% year over year to $4,095 million, yet missed the Zacks Consensus Estimate of $4,115 million. Solid results in the coatings business was driven by sales gains across automotive OEM coatings, automotive refinish and aerospace. However, the architectural coatings business was the weakest link in the quarter
Revenues from the Architectural Coatings (Europe, Middle East and Africa) division fell 5% to $571 million on lower volumes. Sustained economic weakness led to lower demand in the region.
PPG Industries envisions sustained earnings momentum in the third quarter driven by similar factors that aided results in the first half, including prudent cost management. Innovation is key to the company’s growth and the launch of the new collection is expected to augment sales of the company’s architectural coatings business.
PPG Industries currently carries a Zacks Rank #2 (Buy).
Other companies in the chemical industry worth considering are Northern Technologies International Corp. , Cytec Industries Inc. and Eastman Chemical Co. (EMN - Analyst Report). All of them hold a Zacks Rank #2 (Buy).