PPG Industries, Inc. - PPG STOCK NEWS

PPG (NYSE: PPG) has launched PPG ERGOLUXE™ powder coatings, specifically designed for metal office furniture. This new product utilizes a polyester-hybrid technology to enhance durability and sustainability compared to traditional coatings. Key features include a transfer efficiency rate of up to 85%, a formulation with up to 13% recycled content, and options for strong scratch resistance. PPG has processed over 6 million pounds of recycled materials since 2017, reinforcing their commitment to eco-friendliness while providing versatile and reliable coatings for modern office designs.

PPG's Olympic Stains introduced its first-ever 2021 Stain Color of the Year, Light Oak, designed to enhance DIY home improvement projects. The soft, semi-transparent tan color aims to create a connection to nature, revitalizing outdoor spaces such as decks and fences. Light Oak complements outdoor furnishings and is available in various Olympic stain products. PPG emphasizes empowering homeowners with quality products and guidance for their projects, highlighting the growing importance of DIY activities during the pandemic.

PPG (NYSE: PPG) has acquired Cetelon Lackfabrik GmbH, a German manufacturer of coatings for automotive wheels, with undisclosed financial terms. Cetelon, established in 1948, specializes in a range of coating systems and operates globally from Ditzingen, Germany. This acquisition enhances PPG's existing coatings and color matching capabilities, leveraging Cetelon's customer relationships and expertise to drive growth in the transportation sector. The acquisition is seen as mutually beneficial, expanding PPG's portfolio and market reach.

PPG (NYSE:PPG) reported first quarter 2021 net sales of approximately $3.9 billion, marking a 15% increase year-over-year. Selling prices rose by nearly 2%, while sales volumes improved by 7%. Net income reached $378 million or $1.58 per diluted share, with adjusted net income at $450 million or $1.88 per diluted share. Despite challenges from raw material inflation and subdued demand in certain sectors, the company achieved structural cost savings of $35 million and forecasted $25 million to $30 million in synergies from acquisitions.

PPG (NYSE:PPG) held its annual shareholder meeting virtually, where CEO Michael H. McGarry reviewed the company’s strategic progress and resilient performance in 2020 amidst COVID-19 challenges. PPG reported $13.8 billion in net sales and $5.70 adjusted earnings per share. The company achieved record operating cash flow of nearly $2.1 billion and announced six value-creating acquisitions. Sustainability efforts included a 24% reduction in greenhouse gas emissions. Looking ahead, PPG aims for above-market earnings growth despite ongoing economic uncertainties.

PPG (NYSE:PPG) has declared its regular quarterly dividend of 54 cents per share, payable on June 11 to shareholders of record by May 10. This dividend marks the 491st consecutive payment, reinforcing PPG's commitment to shareholder returns with a history of 49 years of annual dividend increases. The company has been paying uninterrupted annual dividends since 1899. With annual net sales of $13.8 billion reported in 2020, PPG continues to serve diverse markets globally.

PPG (NYSE:PPG) has extended the tender offer period for all shares of Tikkurila Oyj (NASDAQ OMX:TIK1V) to May 11, 2021, initially set to expire on April 14, 2021. The offer has received approval from the European Commission and Finnish authorities, while approval from Kazakhstan has also been granted. The tender offer's completion is contingent on pending regulatory approval from the Federal Antimonopoly Service of Russia, anticipated within the extended period. PPG expects to close the acquisition shortly after the new deadline.