We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PPG Opens EUR 45M Paint and Coatings Facility in Russia
Read MoreHide Full Article
PPG Industries (PPG - Free Report) said that it has opened a €45 million ($49 million) paint and coatings manufacturing plant in the Lipetsk region of Russia. The site will make 25 million liters (6.6 million gallons) of coatings at full capacity.
The plant houses administrative offices and technical laboratories in addition to having facilities for producing and distributing coatings for automotive, industrial, packaging, and protective and marine applications. The facility will employ around 200 people.
The company’s investment in the new plant underscores its sustained focus to improve services to its existing customers in Russia and Eastern Europe as well as expand its foothold in the Europe, Middle East and Africa (“EMEA”) region. The facility will allow PPG Industries to address rising demand for its paint and coatings products in that region.
PPG Industries has outperformed the Zacks categorized Chemicals-Diversified industry over the last six months. The company’s shares have gained around 16.2% over this period, compared with roughly 7.7% gain recorded by the industry.
PPG Industries is taking steps for growing organically as well as cutting costs. The company also remains committed to deploy cash on acquisitions and share repurchases. The company plans to deploy at least $2.5 billion to $3.5 billion of cash on acquisitions and share repurchases in 2017 and 2018 combined.
PPG Industries should also gain from its broad restructuring actions, particularly focused on the weaker end-markets. The restructuring actions are expected to deliver $120-$130 million in annual savings, with $40-$50 million of savings expected to be realized in 2017.
However, the company is exposed to currency headwind, which may continue to affect its top line. Moreover, PPG Industries faces macroeconomic challenges and some of its end-markets including marine still remain sluggish. The company sees moderate growth rates in emerging economies in 2017. It is also exposed to volatility in raw materials and energy costs.
PPG Industries currently carries a Zacks Rank #3 (Hold).
Huntsman has an expected long-term earnings growth of 7%.
BASF has an expected long-term earnings growth of 8.9%.
Chemours has an expected long-term earnings growth of 15.5%.
Looking for Stocks with Skyrocketing Upside? Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
PPG Opens EUR 45M Paint and Coatings Facility in Russia
PPG Industries (PPG - Free Report) said that it has opened a €45 million ($49 million) paint and coatings manufacturing plant in the Lipetsk region of Russia. The site will make 25 million liters (6.6 million gallons) of coatings at full capacity.
The plant houses administrative offices and technical laboratories in addition to having facilities for producing and distributing coatings for automotive, industrial, packaging, and protective and marine applications. The facility will employ around 200 people.
The company’s investment in the new plant underscores its sustained focus to improve services to its existing customers in Russia and Eastern Europe as well as expand its foothold in the Europe, Middle East and Africa (“EMEA”) region. The facility will allow PPG Industries to address rising demand for its paint and coatings products in that region.
PPG Industries has outperformed the Zacks categorized Chemicals-Diversified industry over the last six months. The company’s shares have gained around 16.2% over this period, compared with roughly 7.7% gain recorded by the industry.
PPG Industries is taking steps for growing organically as well as cutting costs. The company also remains committed to deploy cash on acquisitions and share repurchases. The company plans to deploy at least $2.5 billion to $3.5 billion of cash on acquisitions and share repurchases in 2017 and 2018 combined.
PPG Industries should also gain from its broad restructuring actions, particularly focused on the weaker end-markets. The restructuring actions are expected to deliver $120-$130 million in annual savings, with $40-$50 million of savings expected to be realized in 2017.
However, the company is exposed to currency headwind, which may continue to affect its top line. Moreover, PPG Industries faces macroeconomic challenges and some of its end-markets including marine still remain sluggish. The company sees moderate growth rates in emerging economies in 2017. It is also exposed to volatility in raw materials and energy costs.
PPG Industries currently carries a Zacks Rank #3 (Hold).
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. Price and Consensus | PPG Industries, Inc. Quote
Stocks to Consider
Better-ranked stocks in the chemical space include Huntsman Corporation (HUN - Free Report) , BASF SE (BASFY - Free Report) and The Chemours Company (CC - Free Report) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Huntsman has an expected long-term earnings growth of 7%.
BASF has an expected long-term earnings growth of 8.9%.
Chemours has an expected long-term earnings growth of 15.5%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>