Ppg Inds Inc Stock Price, News & Analysis

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.

PPG (NYSE: PPG) announces the resignation of Bill Schaupp, vice president and controller, effective July 31, 2021, to take a senior finance role at a Fortune 75 company. Schaupp has been with PPG since 2008, advancing through various financial positions, becoming controller in 2018. Effective August 1, 2021, Brian Williams, global director of finance for automotive refinish, will serve as acting controller until a permanent replacement is found. Williams joined PPG in 2005 and has held several leadership positions in finance within the company.

PPG (NYSE: PPG) has appointed LG Tackett as vice president of global operations for its industrial segment, effective August 9, 2021. Tackett, who previously held a similar role at DuPont, will manage global manufacturing, supply chain, engineering, and continuous improvement. His extensive background includes leadership roles at Valspar and Aleris International, as well as 15 years at Celanese. Tackett holds a bachelor’s and master’s degree in Mechanical Engineering from West Virginia University.

PPG (NYSE: PPG) announced its participation at Surcar Europe 2021, showcasing advancements in sustainable automotive color technology. Presentations by Sabine Griesbeck and Sven Reil will focus on digital color development and precision application methods, respectively, on July 1. PPG's digital styling program aims to reduce the color development time from nine months to a more efficient process, minimizing waste. Additionally, the new precision application technique can cut paint shop time significantly, enhance customization, and lower CO₂ emissions, promoting sustainability in automotive manufacturing.