PPG Industries Inc. PPG said that it has started using chloride-grade titanium dioxide (TiO2) made in commercial quantities by Henan Billions Chemicals Co., Ltd., including PPG’s licensed chloride-based technology. Henan Billions is based in China and makes and markets TiO2 and zirconium.
PPG Industries is utilizing the TiO2 to produce standard grades of its coatings products. The plant that produced the chloride-grade TiO2 is located in the Henan Province of China. At present, it can produce 100,000 metric tons of chloride-grade TiO2 annually and has the capacity to expand. TiO2 is a key raw material that is used by PPG and other paint and coatings makers as a pigment to provide hiding, durability and whiteness characteristics.
PPG Industries licensed some chloride-based technologies for the production of TiO2 to Henan Billions for use on a worldwide basis. The company has also supported the startup of Henan Billions’ new chloride process facility with quality and process improvements, analytical testing support and product evaluations.
PPG Industries is well placed to gain from continued strength across North American automotive and aerospace markets, synergies from acquisitions and cost-saving measures. Healthy momentum across automotive OEM, automotive refinish and aerospace markets are expected to support its results moving ahead. The company is also taking steps to grow its business inorganically by making a number of acquisitions.
PPG Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked companies in the diversified chemical space include Celanese Corp. CE, Innospec Inc. IOSP and Akzo Nobel N.V. AKZOY. All these stocks sport a Zacks Rank #1 (Strong Buy),
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