PPG Industries Inc.
) announced that its aerospace products and services business
donated the latest technology, Desothane HD basecoat/clearcoat,
for repainting the first Dassault Mystere 20 production
The Mystere 20 production aircraft was restored by IT Mercure,
a nonprofit aircraft restoration association. The restoration was
done for the 50th anniversary celebration of its first flight.
STTS Group, Europe's largest specialist aerospace painting and
sealing company, repainted the Mystere 20 jet at its Le Bourget
The Mystere 20 aircraft will be on display at Le Bourget in
front of the Advanced Air Support hangar, just outside the show's
static display area. After the show, the Mystere 20 will return
to its permanent display at France premium national air and space
PPG offered its latest and best technology, Desothane HD/CA
9008 basecoat/clearcoat because of its aesthetic application,
performance and environmental benefits of Mystere 20, which was
the best business jet of its age. The painters applied it on a
very tight schedule and the aircraft was painted white, red, blue
and black with silver metallic wings and belly to recreate the
flight-test livery, then clear-coated for enhanced durability and
increased color and gloss retention.
Desothane HD/CA 9008 basecoat/clearcoat consists of high
solids and are chromate free, and have a heavily pigmented
basecoat that provides color in one coat, instead of the
conventional two or three coats, thus saving both material and
application time. The clearcoat provides extended service life,
improved buffability and a smoother surface that is easier to
PPG Industries has a diversified business, both in terms of
products offered and geographical presence. It has a leading
position in several paints and coatings end markets. The company
caters to the aviation industry through its aerospace products
and services business - PPG Aerospace - a global supplier with 18
coatings facilities across the planet.
PPG Industries released its first quarter 2013 results in Apr
2013. The company beat earnings expectations in the quarter
buoyed by continued momentum across automotive OEM and aerospace
markets. It posted earnings from continuing operations (excluding
one-time items) of $1.58 a share in the quarter, which beat the
Zacks Consensus Estimate of $1.56. The adjusted earnings exclude
pension and environmental costs, acquisition expenses and
Consolidated profit, as reported, zoomed to around $2.4
billion or $16.31 per share from $13 million or $0.08 earned in
the prior-year quarter. The bottom line was boosted by a one-time
gain on sale of the commodity chemicals business.
Reported profit from continued operation was $219 million or
$1.48 a share versus a loss of $50 million or $0.32 a year ago.
Revenues were essentially flat year over year at $3,331 million,
missing the Zacks Consensus Estimate of $3,424 million.
PPGIndustries currently holds a short-term Zacks Rank #2
(Buy). Other companies in the chemical space that are worth
). While Methanex retains a Zacks Rank #1 (Strong Buy), BASF and
FMC retain a Zacks Rank #2 (Buy).
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