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PPG Industries Offers Non-Stick & Low-Friction Coatings in Malaysia
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PPG Industries Inc. (PPG - Free Report) announced that it has expanded its facilities in Petaling Jaya, Malaysia, to manufacture non-stick coatings for kitchenware, industrial bakeware and low-friction applications. This will aid PPG in meeting the surge in coatings demand in the region. Also, it will have more space dedicated to vital client services, such as a cutting-edge testing laboratory.
The Petaling Jaya factory now has five new production lines for waterborne and solvent-borne non-stick and low-friction coatings. PPG's capacity increase in Petaling Jaya will better equip the company to satisfy the growing demand for high-performance non-stick and low-friction coatings. This dual capability allows PPG to design solutions for a wide range of customer needs and product specifications.
The Petaling Jaya plant will serve customers in the energy sector, as these low-friction coatings provide the necessary corrosion protection and controlled torque for oil and gas applications. The non-stick and decorative coatings created at the plant will provide customers in the kitchen and industrial bakeware industries with PFAS-free coating alternatives.
This expansion underlines PPG's commitment to growing its portfolio of sustainably advantageous solutions for the kitchen and bakeware industries.
PPG’s Outlook
PPG projects adjusted earnings per share (EPS) for the third quarter in the range of $2.10-$2.20. For the full year, the company expects adjusted EPS in the band of $8.15 to $8.30. These projections consider various factors such as current global economic activity, uneven global industrial production, reduced global automotive production, stabilizing demand in Europe, sustained growth in Mexico and India and low single-digit growth in China.
PPG’s Share Price Performance
Shares of PPG have lost 8.7% over the past year compared with a 9.4% decline of its industry.
Image Source: Zacks Investment Research
PPG’s Zacks Rank & Key Picks
PPG currently carries a Zacks Rank #4 (Sell).
Better-ranked stocks in the basic materials space include Carpenter Technology Corporation (CRS - Free Report) , Eldorado Gold Corporation (EGO - Free Report) and Newmont Corporation (NEM - Free Report) .
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.9%. The company's shares have soared 125.1% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Eldorado’s current-year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. EGO, a Zacks Rank #1 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company's shares have rallied roughly 80.5% in the past year.
The Zacks Consensus Estimate for Newmont’s current-year earnings is pegged at $2.82, indicating a rise of 75% from the year-ago levels. The consensus mark for NEM’s earnings has increased 14% in the past 60 days. NEM, a Zacks Rank #1 stock, has gained nearly 35.7% in the past year.
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PPG Industries Offers Non-Stick & Low-Friction Coatings in Malaysia
PPG Industries Inc. (PPG - Free Report) announced that it has expanded its facilities in Petaling Jaya, Malaysia, to manufacture non-stick coatings for kitchenware, industrial bakeware and low-friction applications. This will aid PPG in meeting the surge in coatings demand in the region. Also, it will have more space dedicated to vital client services, such as a cutting-edge testing laboratory.
PPG Boosts Kitchen & Bakeware Industries Portfolio
The Petaling Jaya factory now has five new production lines for waterborne and solvent-borne non-stick and low-friction coatings. PPG's capacity increase in Petaling Jaya will better equip the company to satisfy the growing demand for high-performance non-stick and low-friction coatings. This dual capability allows PPG to design solutions for a wide range of customer needs and product specifications.
The Petaling Jaya plant will serve customers in the energy sector, as these low-friction coatings provide the necessary corrosion protection and controlled torque for oil and gas applications. The non-stick and decorative coatings created at the plant will provide customers in the kitchen and industrial bakeware industries with PFAS-free coating alternatives.
This expansion underlines PPG's commitment to growing its portfolio of sustainably advantageous solutions for the kitchen and bakeware industries.
PPG’s Outlook
PPG projects adjusted earnings per share (EPS) for the third quarter in the range of $2.10-$2.20. For the full year, the company expects adjusted EPS in the band of $8.15 to $8.30. These projections consider various factors such as current global economic activity, uneven global industrial production, reduced global automotive production, stabilizing demand in Europe, sustained growth in Mexico and India and low single-digit growth in China.
PPG’s Share Price Performance
Shares of PPG have lost 8.7% over the past year compared with a 9.4% decline of its industry.
Image Source: Zacks Investment Research
PPG’s Zacks Rank & Key Picks
PPG currently carries a Zacks Rank #4 (Sell).
Better-ranked stocks in the basic materials space include Carpenter Technology Corporation (CRS - Free Report) , Eldorado Gold Corporation (EGO - Free Report) and Newmont Corporation (NEM - Free Report) .
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.9%. The company's shares have soared 125.1% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Eldorado’s current-year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. EGO, a Zacks Rank #1 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company's shares have rallied roughly 80.5% in the past year.
The Zacks Consensus Estimate for Newmont’s current-year earnings is pegged at $2.82, indicating a rise of 75% from the year-ago levels. The consensus mark for NEM’s earnings has increased 14% in the past 60 days. NEM, a Zacks Rank #1 stock, has gained nearly 35.7% in the past year.