PPG Industries Inc. (PPG) aerospace transparencies group announced the launching of the brand name of its craze-resistant, high-performance aerospace transparency material at the Paris Air Show.
According to the global director for new business development and innovations for transparencies, OPTICOR advanced transparency material by PPG Aerospace happens to be the first new transparent plastic for aerospace applications.
Opticor advanced transparency material fulfills the criteria of being a lightweight transparent plastic that is required for the aerospace industry. Owing to its light weight, fire resistant quality and better craze, it can serve as a substitute for stretched acrylic for passenger-cabin windows and can also be used in cockpit windows because it is an excellent substrate for metallic and nonmetallic coatings.
Gulfstream has selected Opticor advanced transparency material for the outboard surface of the passenger-cabin windows in the new G650 business jet. The advanced transparency material has successfully fulfilled the requirements of Federal Aviation Administration qualification testing in support of the aircraft type certificate. PPG will be displaying a G650 cabin window at its booth during the Paris Air Show.
PPG Aerospace Transparencies is the world’s largest supplier of aircraft windshields, windows and canopies.
Headquartered in Pittsburgh, PPG Industries serves its customers in industrial, transportation, consumer products, and construction markets and after markets. The company aspires to continue as the world’s leading coatings and specialty products company.
PPG released its first quarter results in April 2011, and posted a net income of $228 million or $1.40 per share for the first quarter of 2011, compared with $115 million or 69 cents in the year-ago quarter. The results surpassed the Zacks Consensus Estimate of $1.34 per share.
Net sales for the quarter were $3.5 billion, up 13% from $3.1 billion in the first quarter of 2010. It also outperformed the Zacks Consensus Estimate of $3.3 billion.
The company witnessed double-digit percentage sales across all its major regions. The improvement was attributed to demand improvements, higher pricing in each of its coating businesses, successful cost reduction initiatives and a gradual industrial recovery worldwide, partly offset by rising raw material costs and disappointing trends in the construction markets in the developed economies.
Looking ahead, the company anticipates further pricing gains in every segment, driving volume increase for PPG; an advantage that it expects to leverage into higher earnings through continued cost focus. PPG carries on working on initiatives to deploy its cash to grow earnings.
The company will persistently apply its disciplined approach toward evaluating acquisitions, and looks forward to several small-to-medium-sized bolt-on acquisitions over the next six to nine months.
PPG Industries’ strong first quarter performance along with a successful adoption of growth strategies and their meaningful implementation inspires confidence in the company. In addition, the macro economy and the concerned industry are also showing signs of recovery.
Therefore, PPG Industries has a Zacks #1 Rank (Strong Buy) in the short term and we hold a long-term Neutral recommendation on the stock.
PPG faces stiff competition from the DuPont Performance Coatings segment of EI DuPont de Nemours & Co. (DD) and BASF Coatings AG.
DU PONT (EI) DE (DD): Free Stock Analysis Report
Be the first to comment