PPG Industries, Inc. - PPG STOCK NEWS

PPG announced leadership changes effective March 1, 2022, for its architectural coatings and traffic solutions sectors. Henrik Bergström will transition to vice president for architectural coatings across Latin America, EMEA, and ANZ, joining the operating committee. Javier Sosa will take over as vice president for architectural coatings in Latin America and president of PPG Comex, while Jaime Irick will expand his role to include traffic solutions. These appointments aim to enhance PPG's strategic direction and operational efficiency in key market regions.

PPG (NYSE: PPG) has renewed its sponsorship of Team Penske and two-time INDYCAR champion Josef Newgarden for the 2022 season, marking nearly 40 years of collaboration. Newgarden will drive the No. 2 PPG Chevrolet in eight races this season. PPG's partnership with Team Penske ensures not only visually appealing cars but also performance excellence. PPG recorded net sales of $16.8 billion in 2021 and continues to supply coatings for Penske's diverse automotive operations.

PPG reported record fourth-quarter net sales of approximately $4.2 billion, a 12% increase year-over-year, driven by higher selling prices. However, the company faced challenges, including a 30% rise in raw material costs and continued supply disruptions. Reported EPS was $1.12, down 2% from the prior year, with adjusted EPS at $1.26, a 25% decline. Despite these headwinds, PPG achieved full-year sales of $16.8 billion, a 21% increase, and announced increased acquisition synergies to $150 million. Looking ahead, PPG anticipates ongoing supply disruptions impacting production.

The Board of Directors of PPG has declared a quarterly dividend of 59 cents per share, payable on March 11 to shareholders of record on February 18. This dividend marks the company's 494^th consecutive payment and reflects its commitment to returning value to shareholders, having increased annual dividends for 50 consecutive years. PPG reported net sales of $13.8 billion in 2020 and operates in over 75 countries, providing paints, coatings, and specialty materials.

PPG (NYSE: PPG) is collaborating with Cellforce Group, a joint venture between Porsche and CUSTOMCELLS, to develop sustainable battery cell solutions for electric vehicles. PPG will supply N-Methylpyrrolidone (NMP)-free cathode binder systems, promoting safer production practices in lithium-ion battery manufacturing. The partnership aims to enhance battery performance and sustainability in the growing automotive energy storage market, leveraging PPG's extensive materials expertise to support advancements in energy density, service life, and cost efficiency.

PPG (NYSE: PPG) is investing over $10 million to expand its automotive OEM coatings production in Weingarten, Germany, with completion expected in Q2 2022. The 10,000 square foot facility addition will produce more than 5,000 metric tons of waterborne basecoats annually, enhancing production capabilities and sustainability. This initiative is part of a broader investment strategy across Europe aimed at reducing operational carbon emissions by over 1,000 metric tons of CO2 equivalent per year.

PPG (NYSE:PPG) has announced an expanded partnership with The Home Depot and HD Supply, aimed at providing a wide array of professional paint products exclusively for professional customers. The rollout of the new product lineup began in Q4 2021 across all U.S. Home Depot stores. This collaboration is designed to enhance service delivery to professionals by leveraging PPG's expertise and product offerings in conjunction with The Home Depot's extensive network. The partnership includes PPG's top brands, ensuring comprehensive support for professional customers.

PPG has announced a $2.7 million investment to expand its powder coatings manufacturing capabilities at its Sumaré facility in São Paulo, Brazil. This expansion will enhance production capacity by approximately 40% starting in Q3 2022. New equipment will facilitate the distribution of powder coatings, aligning with PPG's sustainability goal of achieving 40% of sales from sustainably advantaged products by 2025. The plant serves various industries including home appliances and agriculture, emphasizing PPG’s commitment to sustainable innovations.