PPG Industries Inc.
) announced the unveiling of a world-class organic light-emitting
diode (OLED) materials production facility at its Barberton, Ohio
plant. This new facility will aid the expanded development and
Universal Display Corporation
) phosphorescent OLED (UniversalPHOLED) materials.
The facility will provide the necessary resources to both PPG
and Universal Display to meet the increasing demand for
energy-efficient, high-performance OLED displays and lighting
devices. This collaboration between PPG and Universal Display is
a major expansion project in Ohio and will strengthen Ohio's
position in advanced manufacturing and polymers markets
PPG Industries is the exclusive manufacturer of Universal
Display's UniversalPHOLED emitter materials, which have
considerable advantages over conventional OLED technologies.
Universal Display is a world leader in the development of
innovative OLED technology for use in flat panel displays,
lighting and organic electronics.
Universal Display's highly-skilled team builds cutting-edge
OLED technology, offers technology transfer and assistance to its
partners, and develops and fabricates a variety of technology
prototypes for the partners' customized needs. PPG and
Universal Display joined forces in 2000 for the commercialization
and production of UniversalPHOLED materials.
PPG Industries released its third-quarter 2013 financial
results in Oct 2013. Barring one-time items, the company raked in
earnings from continuing operations of $2.44 a share in the
quarter, which topped the Zacks Consensus Estimate of $2.34. The
adjusted earnings exclude one-time items including restructuring
and acquisition charges.
Profit from continued operation (as reported), however, fell
around 24% to $220 million or $1.52 per share from $288 million
or $1.86 per share a year ago, hurt by hefty restructuring and
other charges. On a consolidated basis (including discontinued
operation), profit declined 33% year over year to $226 million or
$1.56 per share.
Revenues climbed roughly 17% year over year to $3,980 million,
beating the Zacks Consensus Estimate of $3,960 million. Healthy
results in the coatings business was led by gains across
automotive original equipment manufacturer coatings, automotive
refinish and aerospace. However, the architectural coatings
business was somewhat weak in the quarter.
PPG Industries currently carries a Zacks Rank #3 (Hold).
Other companies in the chemical industry worth considering are
Asahi Kasei Corporation
). Both hold a Zacks Rank #1 (Strong Buy).
ASAHI KASEI CP (AHKSY): Get Free Report
METHANEX CORP (MEOH): Free Stock Analysis
UNIVL DISPLAY (OLED): Free Stock Analysis
PPG INDS INC (PPG): Free Stock Analysis
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