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PPG Industries Launches New Formulation of Olympic ONE Paints
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PPG Industries’ (PPG - Free Report) Olympic Paints and Stains brand launched an updated formula for its Olympic ONE exterior paint line.
The new formula comes with the Weather-Ready application technology and is rain-ready in 12 hours which reduces the unpredictability of exterior home projects. The formula also features an all climate protection package that helps paint adhere in case of temperature as low as 32 degree fahrenheit and as high as 90 degree fahrenheit.
In addition to this, Olympic ONE exterior paint-and-primer-in-one provides resistance to cracking, peeling, fading and a mildew-resistant coating. The paint includes low volatile organic compound and its low odor formula is ideal for wood, masonry etc.
PPG Industries has underperformed the Zacks categorized Chemicals-Diversified industry over the last one year. The company’s shares have moved up around 7.8% over this period, compared with roughly 23.6% gain recorded by the industry.
PPG Industries is exposed to unfavorable currency exchange translation, especially in emerging markets. It also faces macroeconomic challenges and volatility in raw materials and energy costs.
The company sees higher raw materials costs on a year over year basis in second-quarter 2017. Moreover, some of its end-markets including marine still remain sluggish. The company also sees moderate growth rates in emerging economies in 2017.
Chemours has expected long-term growth of 15.5% and sports a Zacks Rank #1.
BASF has expected long-term growth of 8.9% and carries a Zacks Rank #2 (Buy).
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PPG Industries Launches New Formulation of Olympic ONE Paints
PPG Industries, Inc. Price and Consensus | PPG Industries, Inc. Quote