PPG Industries PPG is displaying its four premium marine coatings solutions at the SSM in Hamburg, Germany.
Sigmaglide 1290 is one of the coatings that PPG Industries will showcase at the event. The fouling release coating is part of the company's latest innovations with the silicone binder fouling release system utilizing a dynamic surface regeneration technology that helps eliminate slime problems and drastically saves fuel compared to existing fouling release products. Fouling release technologies tend to become less effective over time, particularly at the waterline level. This innovative solution has been engineered to restart the beneficial surface configuration properties once water reduces the surface energy of the coating.
PPG Industries' marine solution can enhance the effectiveness of the coating as well as the performance and stability of the product throughout its lifetime. Along with this solution, the company will also showcase the Sigmashield MTC system. The system has been designed particularly for the cargo holds of dry bulk carriers and provides a commercially viable solution for spot and full repairs as well as application when built to optimize performance.
Two other coatings being displayed are Sigma Sailadvance RX and GX coatings. These coatings produce less friction, linear polishing, lower idle time tolerance and aid savings in fuel consumption. The solutions can be used on a wide range of vessels and ships. They address manufacturers' desire to reduce energy consumption and costs.
PPG INDS INC Price
PPG Industries' adjusted earnings of $1.85 per share for the second quarter of 2016 improved 10.8% year over year. Sales in the quarter were fairly consistent with the prior-year quarter, at $4,064 million. While earnings beat the Zacks Consensus Estimate, sales lagged the same. The bottom line was primarily boosted by the successful commercialization of innovative products, strong business and cost management as well as earnings-accretive cash deployment.
The performance coatings segment's sales in the second quarter fell 3% year over year to $2.34 billion due to lower global architectural coatings volumes. However, earnings in the segment increased 4% year over year to $428 million on cost management, restructuring and acquisition-related benefits.
PPG Industries currently carries a Zacks Rank #4 (Sell).
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