PPG Industries Inc. (PPG - Analyst Report) announced that its fiber glass business is providing heavyweight, reusable 2,000-pound bulk bag package option for its CHOPVANTAGE wet chop chopped strand products.
The launch of sack packaging option enables wet chop gypsum customers to process the fiber glass more quickly and easily through their systems, resulting in minimum downtime and conversion between packages. Further, PPG is also benefited as the packaging can be reused and recycled, thereby reducing energy costs and greenhouse gas emissions. The sack packaging option will be available in addition to the corrugated carton packaging options that are available in 1,000-pound and 2,500-pound volumes by weight.
CHOPVANTAGE wet chop chopped strands offer customers a variety of products to achieve maximum performance in gypsum and roofing applications. Wet chop chopped strands are produced from continuous filament strands with unique sizing chemistry. They also provide many advantages including quick and easy fiber dispersion.
PPG Fiber Glass has provided the composites industry with fiberglass reinforcements. Focusing on solutions and next-generation technologies, PPG Fiber Glass offers market-driven solutions to its customers. The goal is to find unmet market needs and transform them into growth opportunities for the entire supply chain. PPG has been developing and providing product technology for these wet chop chopped strand products for the past three decades.
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 11 cents. 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.
PPG Industries currently carries a Zacks Rank #3 (Hold).
Other companies in the chemical industry worth considering are Air Products and Chemicals Inc. (APD - Analyst Report), FMC Corp. (FMC - Analyst Report) and BASF SE (BASFY). All of them hold a Zacks Rank #2 (Buy).