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PPG Industries (PPG) Launches Coraflon Platinum Coatings

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PPG Industries, Inc. (PPG - Free Report) recently announced the introduction of PPG Coraflon Platinum powder coatings for architectural extrusions, taking its Coraflon coating products to the next level. This coating technology has a more than 20% efficiency rate and improved corrosion resistance compared to traditional FEVE powder coatings.

PPG Coraflon Platinum powder coatings are available in a wide range of product features, consisting of colors and glosses for architectural applications requiring maximum resistance to corrosion and weathering. Besides, there are additional color and texture options that are visually appealing and give the look and feel of cement, terracotta and other natural finishes.

They have the unique feature of achieving the look of anodized aluminum while providing corrosion resistance and color durability benefit, which are not possible through traditional anodized techniques.

The coatings are compliant with the Fenestration and Glazing Industrial Alliance and American Architectural Manufacturers Association (FGIA/AAMA) 2605 and have passed intensive corrosion testing and stringent environmental standards, including Europe’s Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH). Additionally, they are also covered by an AAMA 2605 20-year warranty.

For more than two decades, PPG customers have enjoyed the durability assurance of its products and with this new technology, there is an addition of a broader range of options in colors and finishes and an improved application process that is distinct from other FEVE powders.

Shares of PPG Industries have surged 86.6% in a year, outperforming the industry’s growth of 66.4%. Its earnings growth rate for the current year is pegged at 41.7%.

In the first quarter of 2021, PPG recorded adjusted earnings of $1.88 per share, increasing from $1.31 logged in the year-ago quarter and topping the Zacks Consensus Estimate of $1.58. Net sales rose roughly 15% year over year to $3,881 million, exceeding the Zacks Consensus Estimate of $3,691.6 million.

The company expects growth in sales and earnings, riding on the back of economic revival and recent acquisitions, to continue further and also sees structural cost savings from its restructuring actions. It expects its overall global demand to continue to be broad-based in many of its end-use markets. Higher domestic flight activities in various parts of the world are also expected to support the gradual recovery in the aftermarket aerospace coatings demand in the second half of 2021.

 

Zacks Rank & Other Stocks to Consider

Currently, PPG Industries holds a Zacks Rank #2 (Buy).

Other top-ranked stocks in the basic materials space are Cabot Corporation (CBT - Free Report) , Dow Inc. (DOW - Free Report) and Olin Corporation (OLN - Free Report) , each carrying a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Cabot has a projected earnings growth rate of 125.9% for the current year. The company’s shares have risen 78.6% in a year.

Dow has a projected earnings growth rate of 261.5% for the current year. The company’s shares have jumped 90.6% in a year.

Olin has a projected earnings growth rate of 473.3% for the current year. The company’s shares have seen a huge surge of 310.7% in a year.

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