PPG Industries, Inc. - PPG STOCK NEWS

PPG (NYSE:PPG) has appointed Pascal Tisseyre as vice president of Architectural Coatings for the EMEA South region, effective March 1. Tisseyre, who joined PPG in 2008 following its acquisition of SigmaKalon, previously served as general manager, successfully enhancing the region's go-to-market strategy and implementing digital technologies. He holds a master’s degree in finance from the University of Dauphine in Paris. This leadership change aims to further strengthen PPG's growth strategies and product offerings for its customers.

PPG (NYSE:PPG) has published its 2020 automotive color popularity report, revealing that blue hues have risen to 9% of global share, up from 8% in 2019. The increase is attributed to consumer preferences influenced by the COVID-19 pandemic, with blue becoming more prominent in vehicles, particularly in Asia-Pacific, where it saw a 1% rise. While white remains the most popular color at 34%, its share decreased by 1%. The report forecasts that blue will continue to evolve into vibrant and desaturated shades, while overall, natural tones are gaining traction, reflecting changing consumer attitudes.

PPG (NYSE:PPG) has announced that Leigh-Ann Humbert, senior research manager in automotive OEM coatings, has received the American Chemical Society (ACS) Pittsburgh Award for her innovative contributions to coatings technology. Over her 30-year career at PPG, Humbert played a pivotal role in developing energy-efficient, low-VOC coatings, including the B1:B2™ Compact Paint System, which reduces operational costs for manufacturers. This recognition highlights PPG's commitment to innovation within the automotive coatings sector.

PPG (NYSE: PPG) has successfully acquired approximately 9.32% of Tikkurila's shares from Varma Mutual Pension Insurance Company, Mandatum Life Insurance Company Limited, and Kaleva Mutual Insurance Company for about €140 million, at €34 per share. Additionally, Tikkurila's largest shareholder, Oras Invest Oyj, holding about 20.01%, has agreed to sell its shares upon regulatory approval. This acquisition could total around 29.34% of Tikkurila's shares. PPG's tender offer commenced on January 15, 2021, and is expected to close by March 2021, pending customary conditions.

PPG (NYSE:PPG) and Tikkurila (NASDAQ OMX:TIK1V) have amended their definitive combination agreement, increasing PPG's cash offer to €34.00 per share, valuing the transaction at approximately €1.52 billion. This revised offer follows a competing bid from AkzoNobel made on January 28, 2021.

PPG's offer includes an 8.8% premium over AkzoNobel's bid and lowers the tender acceptance threshold to 66.7%. Tikkurila's Board has unanimously recommended the offer, citing better price, certainty, and timing. The transaction is expected to close by March or early Q2 2021.

PPG (NYSE:PPG) has provided coatings and sealants to restore the 74-year-old Douglas C-54 Skymaster aircraft, used during significant military operations. The restoration, driven by the Save the Skymaster initiative, aims to make the aircraft airworthy within 18 to 24 months. PPG supplied various aerospace products, highlighting its commitment to preserving aviation history and aiding engineering graduates through practical experience. PPG reported net sales of $13.8 billion in 2020 and operates globally in aerospace sectors.

PPG reported Q4 2020 net sales of approximately $3.8 billion, a 2% increase year-over-year. Despite a 1.5% decline in sales volumes due to the COVID-19 impact, favorable currency translation added about $60 million. Reported net income was $272 million ($1.14 per diluted share), while adjusted net income was $378 million ($1.59 per diluted share). The company achieved a 20% increase in adjusted EPS, driven by its Industrial Coatings segment. PPG announced a record operating cash flow of $2.1 billion for 2020 and projected positive trends ahead despite ongoing pandemic uncertainties.

PPG (NYSE:PPG) has declared a quarterly dividend of 54 cents per share, set to be paid on March 12 to shareholders of record by February 19. This marks the 490th consecutive dividend payment for PPG, which has raised its annual dividend payout for 49 years and has continuously paid dividends since 1899. Amidst dedicated efforts from employees, PPG remains committed to delivering value through its paints, coatings, and specialty materials, serving various markets worldwide.