The commercial coatings group of
) automotive refinish business has entered into an agreement with
Van Nay, LLC to expand its Electrolysis Corrosion Kontrol (ECK)
corrosion-prevention product line that has been distributed by
PPG. The company will now be offering a full line of ECK
products, including both quart and aerosol versions to the
existing squeeze tubes that it offered earlier.
ECK products are built with a patented compound that helps to
avoid expensive repairs caused by dissimilar metal corrosion in
an economical way. Aluminum products assembled with
stainless-steel fasteners are naturally prone to corrosion. ECK
coatings which are rich in zinc prevent the electrolytic
reaction, thus providing a long-lasting, moisture-resistant
ECK coatings are better than the traditional corrosion prevention
methods that use silicone-based products and plastic insulating
tape applications. ECK coatings can be applied on heavy-duty
truck bodies, military vehicles, trailers, agricultural and
construction equipment and have a variety of other metallic
usage. Bolts and fasteners can be prevented from galling and
seizing with the usage of ECK coatings.
PPG Industries released its fourth-quarter 2013 results on Jan
16. The company reported adjusted earnings from continuing
operations (excluding acquisition-related expenses of $4 million
or 3 cents per share) of $1.81 a share for the quarter, up 45%
year over year from $1.25 per share reported in the year-ago
quarter. The results exceeded the Zacks Consensus Estimate of
$1.73 per share.
Profit from continued operations (as reported) was $254
million or $1.78 per share in the fourth quarter, surging roughly
33% from $191 million or $1.23 per share posted in the prior-year
quarter. Healthy results in the fourth quarter were also backed
by continuing operating and cost discipline coupled with a higher
level of organic sales growth.
Revenues rose 14% year over year to $3,702 million in the quarter
from $3,243 million in the year-ago quarter and were also ahead
of the Zacks Consensus Estimate of $3,698 million. The
year-over-year rise is attributable to higher industry demand in
aerospace and automotive OEM coatings. The results were also
aided by stabilizing regional demand in Europe.
PPG Industries is a Zacks Rank #2 (Buy) stock.
Other companies in the chemical industry worth considering
Northern Technologies International Corp.
The Dow Chemical Co.
). While both Methanex and Northern Technologies carry a Zacks
Rank #1 (Strong Buy), Dow Chemical holds a Zacks Rank #2
DOW CHEMICAL (DOW): Free Stock Analysis
METHANEX CORP (MEOH): Free Stock Analysis
NORTHERN TECH (NTIC): Free Stock Analysis
PPG INDS INC (PPG): Free Stock Analysis
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