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PPG Industries, Inc. (PPG) - free report >>
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PPG Industries, Inc. (PPG) - free report >>
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PPG Industries Unveils EC550 EN-V Ultra Gloss Clearcoat
PPG Industries Inc. (PPG - Free Report) announced that its automotive refinish business has unveiled EC550 EN-V Ultra Gloss Clearcoat, a production-friendly clearcoat formulated specifically for use with ENVIROBASE High Performance waterborne basecoat.
The new clearcoat can be applied easily and provides excellent gloss. It is used for applications in a number of panels and adds to the newest collection of Envirobase High Performance clearcoat lineup. EC550 uses PPG Industries’ advanced resin technology that is also used in the market-leading EC530 En-V Performance Clearcoat. The En-V technology possesses properties like outstanding flow and leveling qualities that lead to providing a superior appearance.
EC550 does not require polishing and can be sprayed in all application conditions, including adverse temperatures and humidity, successfully. C550 En-V Ultra Gloss is suitable for all North-American refinish markets.
PPG Industries reported adjusted earnings of $1.31 per share for first-quarter 2016, beating the Zacks Consensus Estimate of $1.30 by a penny. However, sales of $3.7 billion missed the mark. The glass segment of the company reported 2% lower sales from the prior-year quarter at $261 million. The demand for fiber glass improved in Europe but was lower in the domestic market. Income for the segment was $28 million, including a facility repair charge of $8 million. The company is taking steps toward its goal of developing and commercializing customer-driven technologies and consumer branding strategies.
Shares of PPG Industries rose around 0.1% on Jun 3 following the news and closed the day at $107.67.
PPG Industries currently holds a Zacks Rank #2 (Buy).
Some other favorably ranked companies in the chemical space include Axiall Corporation , Asahi Kasei Corporation (AHKSY - Free Report) and Albemarle Corporation (ALB - Free Report) , all sporting a Zacks Rank #1 (Strong Buy).
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