PPG Industries PPG has opened a liquid coatings application development center at its Oak Creek, WI plant. The coatings giant has invested $3 million for this state-of-the-art climate simulating center. It includes advanced equipment that helps replicate the climatic conditions of industrial coatings customers' manufacturing plants to optimize the application process.
The new center consists of multiple curing ovens, robotic paint applicators and spray booths. The temperature and humidity levels in the rooms can be controlled to match the environmental conditions faced by the company's extensive customer base.
PPG Industries' customers apply liquid coatings in a range of climatic conditions - from hot and humid summers to cold weather. The company will simulate the same conditions at its new facility to ensure superior performance by its products. Imitating the actual conditions of production will also offer PPG Industries' technical experts a chance to work closely with customers during the development stage, understanding and solving any problem they may be facing in the process.
PPG Industries remains committed to ensuring customer satisfaction and development. This expansion is another step reflecting the company's innovation as well as dedication toward providing customers with complete coatings solutions. This facility will not only complement the application validation process of the company's industrial coatings division, but will also minimize manufacturing difficulties faced by customers.
Shares of PPG Industries rose around 0.9% in the trading session on May 5, closing the day at $108.58.
PPG Industries saw higher profits in the first quarter of 2016, aided by its cost-management initiatives and contributions from acquisitions. Adjusted earnings for the quarter beat the Zacks Consensus Estimate while revenues missed expectations. The company raised its quarterly dividend by 11% and also reaffirmed its plans to deploy $2-$2.5 billion cash over 2015-2016 toward acquisitions and share repurchases .
PPG Industries currently holds a Zacks Rank #2 (Buy).