PPG Industries Inc.’s PPG OLYMPIC Paint and Stain brand was redefined with the launch of its new color changing two-in-one ceiling paint cum primer. This unique paint is pink in color when applied, but eventually dries white, thereby helping homeowners to easily locate covered as well as left out spots on the ceilings.
The Olympic ONE color changing ceiling paint featuring quick dry, low splatter, allows easy application, leaving ceilings with a uniform and flat finish. Further, it comes with a lifetime warranty. The new product is a boost to the existing Olympic ONE product portfolio and is available exclusively at Lowe’s. According to Olympic brand’s senior manager, Lia Gancas, this kind of product will not only help homeowners to have beautiful ceilings, but will also reduce the chances of missing a spot on the wall.
PPG Industries recently reported its first-quarter 2015 results. The Pittsburgh-based coatings giant recorded profit from continued operations (as reported) of $321 million or $2.33 per share in the reported quarter, a rise of roughly 16% from $277 million or $1.97 per share posted a year ago.
However, currency translations weighed on the company’s revenues in the quarter. Revenues for the first quarter were $3,662 million, a modest 1% year-over-year rise. Currency impact reduced sales by 7% (around $260 million), offsetting contributions from acquisitions and moderate volume gains.
PPG Industries is focused on developing new products and effectively deploying cash toward further earnings-accretive opportunities. The company has an active acquisition pipeline and expects share buybacks to remain a key part of its cash allocation.
Other well-placed companies in the chemical diversified industry include Celanese Corporation CE, Cytec Industries Inc. CYT and LyondellBasell Industries N.V. LYB
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