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PPG Industries Unveils Spectracron 128 Industrial Shop Primer

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PPG Industries, Inc. (PPG - Free Report) introduced PPG Spectracron128, a fast-drying, low-volatile-organic-compound (VOC) industrial shop primer. This product has been designed for applicators seeking fast dryingand strong protection over steel substrates.
PPG Spectracron 128 shop primer contains only 2.8 pounds per gallon of VOC and offers rust-inhibitive protection in corrosive environments. The latest product meetsthe stringent environmental regulations and can be used for structural steel, agricultural equipment, industrial equipment, material handling equipment and other miscellaneous metal fabrication applications. 
The product is easy to use and is available in gray and red oxide. Also, the primer works well with PPG Spectracron FSC, Spectracron 100, Spectracron 110 and Spectracron 150 Series topcoats.
Shares of the company have moved up around 5.3% over a year, underperforming the roughly 8.4% growth recorded by its industry.
To improve cost structure, PPG Industries is pursuing significant restructuring actions that are mainly focused on regions and end-use markets with the weakest business conditions. The restructuring activities are projected to deliver around $125 million in annual savings with roughly $50 million of savings already realized in 2017 and another $45-$50 million expected in 2018.
During the fourth-quarter call, PPG Industries stated that it is committed toward deploying at least $2.4 billion of cash in 2018 on acquisitions and share repurchases as part of its earlier communicated goal of deploying $3.5 billion in 2017 and 2018 combined.
PPG Industries is also implementing appropriate pricing strategies to offset the impact of raw materials cost inflation. The company anticipates raw material inflation to continue through first-half 2018.

PPG Industries, Inc. Price and Consensus
PPG Industries currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the basic materials space include LyondellBasell Industries N.V. (LYB - Free Report) , Kronos Worldwide Inc. (KRO - Free Report) and Methanex Corporation (MEOH - Free Report) .
LyondellBasell has an expected long-term earnings growth rate of 9% and sports a Zacks Rank #1 (Strong Buy). The company’s shares have moved up 18.1% in a year.You can see the complete list of today’s Zacks #1 Rank stocks here.
Kronos has an expected long-term earnings growth rate of 5% and flaunts a Zacks Rank #1. Its shares have gained 39.2% over a year.
Methanex has an expected long-term earnings growth rate of 15% and carries a Zacks Rank #2 (Buy). Its shares have moved up 34.2% in a year.
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