Welcome to our dedicated page for PPG Industries news (Ticker: PPG), a resource for investors and traders seeking the latest updates and insights on PPG Industries stock.
PPG Industries, Inc. (symbol: PPG) is a global leader in the production of high-quality coatings and specialty materials. Established in 1883 and headquartered in Pittsburgh, PPG operates in over 70 countries worldwide. The company is committed to delivering innovative and sustainable solutions that customers trust to protect and beautify their products and surroundings.
PPG’s operations span across various markets, including automotive, aerospace, construction, and industrial. The company is recognized as the world’s largest producer of coatings after acquiring assets from Akzo Nobel. Additionally, notable acquisitions like Comex demonstrate PPG’s focus on expanding into emerging regions.
Renowned for its leadership in innovation, sustainability, and color, PPG constantly seeks to add value to its customer base, providing advanced products that enhance more surfaces than any other company. The company’s financial strength is evident, with a reported net sales of $15.4 billion in 2014, and its shares being traded on the New York Stock Exchange under the symbol PPG.
Recent Achievements and Current Projects
- PPG has recently made significant strides in sustainable product development, ensuring that its offerings meet stringent environmental standards.
- The company is involved in various projects aimed at enhancing product durability and aesthetic appeal, tailored to the specific needs of different markets.
- Partnerships with leading automotive and aerospace companies have solidified PPG’s position as a trusted supplier of advanced coatings and materials.
By consistently innovating and adapting to market demands, PPG Industries, Inc. continues to reinforce its vision of being the world's leading coatings company.
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.
PPG (NYSE: PPG) has launched a new business unit called Traffic Solutions, following its acquisition of Ennis-Flint. This unit will focus on manufacturing pavement-marking products to serve various sectors including government and commercial infrastructure. It will collaborate with PPG's mobility team to enhance coatings for autonomous and connected vehicles. CEO Michael McGarry highlighted this as a strategic fit to improve infrastructure for safer driving systems.
PPG (NYSE: PPG) has appointed Bhaskar Ramachandran as the new vice president and chief information officer (CIO), succeeding Chris Caruso, who will retire on March 1, 2021. Ramachandran comes from Jabil Inc., where he led a cloud-based strategy for improved production efficiency. His extensive background includes leadership roles at Textron, Sybase, Prudential Financial, and IBM/PwC. Caruso, who has been with PPG for 24 years, is recognized for his contributions to IT innovation and strategy development.
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