PPG Industries (PPG - Free Report) has introduced a new line of corrosion-resistant, direct-to-metal (DTM) polyaspartic coatings, Kwikspar 600 and Kwikspar 600SG. These products, with advanced film-build and fast-cure characteristics, are geared to improve the throughput in field and shop applications.
The new polyaspartic coatings can be overcoated on PPG Industries’ protective and marine coatings (PMC) products like Sigmafast 278 epoxy or Amercoat 370 primers, in highly corrosive environments. This provides an ultra-fast drying which is an alternative to conventional three-coat corrosion protection systems. In cases where the environment is low-to-moderately corrosive, one coat of Kwikspar 600SG or Kwikspar 600 can replace the usual two-coat urethane/ epoxy systems.
The company’s PMC products help to protect assets in some of the most demanding environments and conditions including projects in infrastructure, energy and marine markets.
According to PPG Industries, the technology behind Kwikspar polyaspartic coatings makes them very cost-effective solutions for structural and steel building components which usually require an excellent weathering, corrosion resistance, and color and gloss retention.
When Kwikspar polyaspartic coatings are applied to steel, their fast curing abilities accelerate the production of finished parts and when used in the field for new construction or maintenance projects, their high film building characteristics enables applicators to attain a desired finish faster. This results in multiple benefits for the contractors and owners like saving time, labor and material cost and also helps them to ensure faster return-to-service.
PPG Industries has announced that its Kwikspar coatings are formulated from 73% solids which cure up to eight times quicker than regular polyurethane coatings. They also exhibit outstanding properties like flexibility, durability and scratch resistance.
PPG Industries has underperformed the Zacks categorized Chemicals-Diversified industry over the last one year. The company’s shares have moved up around 6.7% over this period, compared with roughly 7.1% 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 expects moderate growth in emerging economies in 2017.
PPG Industries currently carries a Zacks Rank #4 (Sell).
Stocks to Consider
Some better-ranked companies in the basic materials space are The Sherwin-Williams Company (SHW - Free Report) , Ternium S.A. (TX - Free Report) and Hitachi Chemical Company, Ltd. (HCHMY - Free Report) . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Sherwin-Williams has expected long-term earnings growth rate of 11.4%.
Ternium S.A. has expected long-term earnings growth rate of 18.4%.
Hitachi Chemical has expected long-term earnings growth rate of 5%.
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