PPG Industries Inc. (PPG - Free Report) announced that it will exhibit its entire range of aerospace products and services at Singapore Airshow, which will be held between Feb 11 and Feb 16.
Singapore Airshow is Asia’s largest aerospace and defense event. Notably, it is held biannually at the Changi Exhibition Centre in Singapore.
At Singapore Airshow, the company’s booth will feature a range of innovative industry offerings, (such as coatings, transparencies, sealants, packaging and application systems, engineered materials, and transparent armor), chemical management and other services.
PPG Industries will also exhibit its PPG Solaron Blue Protection UV blocking technology for aircraft windows alongside its wide range of sustainable and lightweight products. Notably, PPG Solaron Blue Protection UV helps protect aircrews, passengers and interiors of aircraft from solar radiation.
PPG Industries is investing in a 3,600-square-meter application support center (ASC) at the Seletar Aerospace Park in Singapore. Notably, the project is the largest investment (at around $15 million) that the company has made to date in Southeast Asia.
The company stated that the ASC will accommodate higher demand for aerospace coatings, adhesives, transparencies and sealants, chemical management services, and packaging of third-party products. Notably, the ASC is slated for completion in mid-2020.
Shares of PPG Industries have rallied 17.1% in the past year against the industry’s decline of 25.4%.
For 2020, the company expects continued organic growth in the Performance Coatings unit. For the Industrial Coatings unit, it expects a rebound in volume growth in the second half of 2020.
While PPG Industries is beginning to witness a modest recovery in industrial demand in China, it expects soft general industrial demand to persist in the United States and Europe.
For 2020, it projects adjusted earnings per share growth of 4-9%, which excludes the impact of currency translation. First-quarter 2020 earnings per share from continuing operations are projected between $1.32 and $1.42.
Further, the company expects sales growth of 1-3% (on a constant-currencies basis) for 2020, including acquisitions.
PPG Industries, Inc. Price and Consensus
Zacks Rank & Stocks to Consider
PPG Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Daqo New Energy Corp. (DQ - Free Report) , Royal Gold, Inc. (RGLD - Free Report) and Commercial Metals Company (CMC - Free Report) .
Daqo New Energy has a projected earnings growth rate of 326.3% for 2020. The company’s shares have rallied 73.8% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Royal Gold has an estimated earnings growth rate of 79.3% for fiscal 2020. It currently flaunts a Zacks Rank #1. The company’s shares have rallied 22.3% in a year.
Commercial Metals has a Zacks Rank #2 (Buy) and a projected earnings growth rate of 20.2% for 2020. The company’s shares have rallied 34.1% in a year.
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