PPG Industries, Inc. - PPG STOCK NEWS

PPG (NYSE: PPG) has announced an agreement to sell its silicas products business to QEMETICA S.A. for approximately $310 million in pre-tax proceeds. The transaction is expected to close in Q4 2024, subject to customary conditions. The sale includes manufacturing facilities in Lake Charles, Louisiana, and Delfzijl, The Netherlands, with leasing arrangements for operations in Barberton, Ohio, and Monroeville, Pennsylvania. The business, representing 1-2% of PPG's total net sales in 2023, employs about 400 people.

PPG CEO Tim Knavish stated that this move will allow the company to focus on its core coatings and specialty products businesses. QEMETICA, a leading chemical manufacturer in Central Europe, aims to expand its global presence through this acquisition.

PPG (NYSE:PPG) has completed upgrades to expand capacity at its Yen Phong industrial coatings plant in Bắc Ninh province, Vietnam. The expansion includes a new production line for PPG AQUACRON™ waterborne coatings for consumer electronics, along with advanced testing equipment and automated spray booths. The plant now has six production lines, aimed at reducing turnaround times and improving customer support.

This investment supports the growing demand for sustainable products from multinational consumer electronics brands in Southeast Asia. The facility also produces coatings for transportation, architectural, and electronic materials. PPG aims to achieve 50% of its sales from sustainably advantaged products by 2030. The company reported net sales of $18.2 billion in 2023 and operates in over 70 countries.

PPG (NYSE: PPG) has launched PPG PITT-THERM® 909 spray-on insulation (SOI) coating, a silicone-based solution for high-heat environments in oil and gas, chemical, petrochemical, and critical infrastructure industries. This innovative coating offers improved safety, asset protection, and operational efficiency compared to traditional insulation materials. Key features include:

- Temperature resistance up to 500°F (260°C)
- Reduces external surface temperatures to 310°F (154°C), minimizing burn risks
- Application thickness up to 250 mils (6.35 mm) per coat
- Total coating thickness up to 500 mils
- Can be applied to hot and cold substrates without operational shutdowns
- Exceptional corrosion resistance and prevention of corrosion under insulation (CUI)
- Meets ASTM E84 Class A fire rating requirements

Available in the US and Canada, PPG PITT-THERM 909 coating represents PPG's commitment to advancing industry standards through innovation.

PPG (NYSE: PPG) has been awarded the 2024 Altair Enlighten Award for its ENVIRO-PRIME® EPIC 200X electrocoat technology. The award, presented by Altair Engineering, recognizes sustainability and lightweighting advancements in the automotive industry. PPG and Toyota North America were named runners-up in the Sustainable Process category for implementing this technology at Toyota's plant in Canada.

The EPIC 200X electrocoat, applied at the Toyota Motor Manufacturing Canada North Plant in Cambridge, Ontario, offers enhanced corrosion protection while significantly reducing environmental impact. Key benefits include:

• Reduction of 3,500 metric tons of CO2 emissions annually
• 0.6 kg less product applied per vehicle
• 5.6 million kWh energy savings per year
• 1.8 million gallons of water saved annually

This recognition follows PPG's recent American Chemistry Council (ACC) 2024 Sustainability Leadership Award for its ENVIRO-PRIME EPIC 300 electrocoat, which cures at lower temperatures, further reducing greenhouse gas emissions in automotive manufacturing.

PPG (NYSE:PPG) has introduced PPG PRIMERON Optimal zinc epoxy powder primer, a patent-pending product with optimized zinc content. This innovative primer offers:

• Better transfer efficiency than standard zinc-rich primers
• Corrosion protection meeting ISO C5 specifications
• Lower specific gravity (2.0 vs 3.6) for easier application
• 85% transfer efficiency, requiring half the product of standard primers
• Zero VOC emissions

The primer excels in adhesion and corrosion resistance, even in coastal environments. It's part of PPG's new Primeron powder primer series, which includes various formulations for different applications. The series offers sustainability benefits, including reduced waste and energy consumption.

PPG (NYSE:PPG) announced significant energy savings and emission reductions from using PPG CORASEAL® 4-Wet Sealer in Stellantis' light commercial vehicles production. This innovative sealer cures in one step, compared to three steps in traditional methods, offering substantial sustainability benefits for automotive OEM paint shops. The implementation results, presented at the Strategies in Car Body Painting conference in Berlin, showed:

- Nearly 8% reduction in energy consumption
- Almost 5% cut in CO₂ emissions
- Enhanced productivity and simplified maintenance

This technology aligns with both PPG's and Stellantis' sustainability targets, demonstrating a significant advancement in automotive manufacturing processes.

PPG (NYSE: PPG) has launched the PPG DURANEXT™ portfolio of energy-curable coatings for coiled metal. These electron-beam (EB) and ultraviolet (UV) curable products include backers, primers, basecoats, and clearcoats, offering faster finishing and energy savings for metal coil coaters. Unlike traditional systems, PPG DuraNEXT coatings cure in seconds at ambient temperatures, without significant thickness or weight loss.

Key benefits include reduced energy usage, water consumption, and CO2 emissions, VOC-free formulations, and customizable solutions for various requirements. The portfolio encompasses backers, primers, basecoats in various finishes, and clearcoats for digitally printed inks. This innovation leverages PPG's 30 years of expertise in energy-curable coatings for wood, now applied to metal building products.

PPG (NYSE:PPG) has been included in the FTSE4Good Index Series for the sixth consecutive year, recognizing its strong environmental, social, and governance (ESG) practices. The company reported significant progress towards its 2030 sustainability targets, including:

• 44% of sales from sustainably advantaged products
• 10% reduction in greenhouse gas emissions (scope 1 and 2)
• 12% reduction in value chain emissions (scope 3)
• 45% of process waste reused, recycled, or recovered
• 13% reduction in water intensity in water-stressed areas
• 97% of key suppliers assessed against sustainability criteria

PPG has also received recognition from EcoVadis, MSCI, Barron's, Corporate Knights, Newsweek, and JUST Capital for its sustainability efforts.

PPG has extended its partnerships with the Indianapolis Motor Speedway (IMS), INDYCAR®, and Team Penske through 2029. The agreement includes entitlement rights for the Brickyard 400 NASCAR® CUP series race at IMS. PPG remains the official paint and finishing supplier for IMS and INDYCAR, protecting various track elements. The company's blue-and-white livery is prominently featured on Team Penske cars.

Tim Knavish, PPG's CEO, expressed excitement about strengthening these relationships, while Roger Penske highlighted PPG's long-standing dedication to motorsports. This extension builds on PPG's four-decade partnership with Team Penske and reinforces its commitment to enhancing communities across INDYCAR and at the Indianapolis Motor Speedway.