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PPG Industries, Inc. develops and sells paints, coatings and specialty products for construction, consumer products, industrial, transportation and aftermarket customers. Company news commonly covers segment results in Global Architectural Coatings, Performance Coatings, Industrial Coatings, aerospace coatings, protective and marine coatings, Traffic Solutions, and packaging or automotive OEM coatings.
Recurring updates also include product and technology investments, such as radiation-curable coatings, protective systems for data center infrastructure, and R&D activity across regional laboratories. PPG news also addresses acquisitions that expand coatings lines, dividend declarations, shareholder meeting matters, leadership changes, digital transformation and operational efficiency initiatives.
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PPG (NYSE:PPG) has completed a $15 million investment in its Sylmar, California facility to enhance production of aircraft transparency technologies for military aviation, specifically for Lockheed Martin's F-35 fighter jets. The 30,000-square-foot expansion includes advanced processing equipment and IT infrastructure, aiming to create over 70 new jobs. The facility's growth is part of PPG's longstanding partnership with Lockheed Martin, enhancing support for the growing F-35 fleet. This strategic move is expected to meet the demanding performance requirements of military aircraft transparency products.
PPG (NYSE:PPG) has launched the PPG BOUNDLESS™ CA6500 series, a new line of polyurethane topcoats for the general aviation market in the U.S. and Canada. Specifically designed for light aircraft and helicopters, these coatings feature low VOC emissions while offering high durability and aesthetic appeal. The series addresses previous issues faced by manufacturers, such as low fluid resistance and gloss. PPG is collaborating with Painter’s Supply & Equipment for rapid color-matching services, enhancing customer support for this innovative product line.
PPG (NYSE:PPG) proudly announced that employees Rachel Harris and Kristin Nuzzio have received the 2021 STEP Ahead Awards from the Manufacturing Institute for their exceptional leadership in the manufacturing sector. Harris has significantly advanced digital color visualization techniques since joining PPG in 2017, enhancing productivity and communication with clients. Nuzzio, active in various research and management roles since 2015, leads a team focused on low-temperature curing coatings. Both women have been instrumental in mentoring and promoting STEM education within their communities.
PPG (NYSE:PPG) is expanding its production capacity for overvarnish coatings at its Delaware, Ohio, plant, aiming to increase U.S. output by 40%. This investment addresses the rising global demand for beverage cans while enhancing supply chain security for customers. The new capabilities will ensure better batch consistency in production. PPG is the leading supplier of overvarnish and internal beverage coatings, employing around 400 people at the Delaware facility, which also produces resins and coatings for various markets.
Universal Display Corporation (Nasdaq: OLED) and PPG (NYSE: PPG) announced a multi-million-euro investment in a new manufacturing site in Shannon, expected to create up to 100 high-tech jobs. This facility will enhance the production of UniversalPHOLED® materials, addressing the rising demand in the OLED market. The project showcases confidence in the region's skilled workforce and aims to facilitate energy-efficient OLED technologies and applications. Renovations and regulatory approvals are anticipated to conclude within 12 months, with operations set to begin in 2022.
PPG (NYSE: PPG) reported a strong second quarter 2021, with net sales reaching approximately $4.4 billion, up 45% year-over-year. Adjusted net income was $465 million, or $1.94 per diluted share, despite supply chain disruptions affecting volume growth. The company experienced a 3.5% increase in selling prices and a 24% rise in sales volumes. Additionally, PPG closed several acquisitions contributing to more than 10% sales growth. However, ongoing raw material shortages and logistics challenges are expected to impact future performance.
PPG (NYSE:PPG) announced a 5-cent increase in its quarterly dividend, bringing it to 59 cents per share, payable on Sept. 10 to shareholders of record on Aug. 10. This increase highlights PPG's achievement of 50 consecutive years of annual dividend increases, underscoring the company’s commitment to rewarding shareholders. The upcoming December dividend, pending Board approval, will be the company’s 493rd consecutive dividend payment, reflecting strong confidence in PPG's ability to generate cash flow, bolstered by recent acquisitions.
PPG (NYSE: PPG) has appointed Melissa Wills as vice president of finance administration, effective August 1, 2021. Wills will continue her role as CFO of the Americas while expanding her responsibilities to oversee financial administration in the EMEA and Asia Pacific regions. With over 30 years at PPG, Wills aims to enhance business finance support and transactional processing across the organization. Her extensive experience includes various leadership roles in finance and strategic planning, showcasing her capabilities to drive efficiency.