PPG Industries Inc. PPG will display its range of superior coatings for the marine and offshore industry at this week’s Australasian Oil and Gas (“AOG”) Exhibition in Perth, Western Australia.
Among all the products, the company expects PITT-CHAR XP and SIGMASHIELD 800 to grab the maximum attention. PITT-CHAR XP is a dual-performance cryogenic spill-protection coating which provides superior resistance against extremely high and low temperatures in marine and industrial environments. The SIGMASHIELD 800 – a two-component, abrasion-resistant, multipurpose adhesive – is mainly used for offshore splash-zone maintenance.
PPG Industries has a good track record in the offshore and marine products markets. Moreover, AOG provides the perfect platform to PPG Industries to expand its footprint and reach out to customers in the Australasia region while demonstrating the benefits of its products directly to them.
PPG Industries is striving to grow its business by expanding its diverse product portfolio along with its geographic presence. The company is pursuing an aggressive cost-cutting and restructuring strategy. It is also taking steps toward growing its business inorganically by making a number of acquisitions.
The buyout of Mexico’s leading paint company, Comex, for $2.3 billion represents a major move by PPG Industries. This acquisition reinforces its architectural coatings business in Mexico and Central America by offering a leading architectural coatings portfolio.
The company spent $2.5 billion on acquisitions in 2014. It expects to deploy $1.5–$2.5 billion of cash in the 2015–2016 period on acquisitions and share buybacks.
PPG Industries currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the diversified chemical space include Asahi Kasei Corp. AHKSY, Innospec Inc. IOSP and Air Products & Chemicals Inc. APD. While Asahi Kasei and Innospec sport a Zacks Rank #1 (Strong Buy), Air Products carries a Zacks Rank #2 (Buy).
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