PPG Industries Introduces Advanced Sound Absorbing Roving
PPG Industries PPG has introduced a new composition of direct-draw fiber glass roving, Innofiber TS 2402, to absorb sound through superior volumizing within the muffler cavities for automotive and industrial exhaust systems.
The new roving is based on the technology of the previously developed Innofiber CR roving with added advancements. The Innofiber TS 2402 is also based on the corrosion-resistant, high-temperature composition, but is made without boron. This increases the glass softening point and meets automakers’ stringent performance requirements.
The Innofiber TS 2402 has also been tested by Tier 1 suppliers to the automotive industry and has been validated to volumize more swiftly and effectively than other similar products. The company believes the product sets new standards for sound attenuation.
PPG Industries’ Innofiber TS 2402 roving is one of the three new products the company added last month to its existing product lines. The other two products were Hybon 2732, to increase the strength of composite structural products made of pultruded fiber-reinforced polymer, and Tufrov 4520, to provide a combination of high mechanical strength and improved long fiber thermoplastic processing.
PPG INDS INC Price
PPG INDS INC Price | PPG INDS INC Quote
PPG Industries’ shares fell 4.2% to close at $100.86 on Sep 9.
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 figure of $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 glass segment’s sales in the second quarter rose 1.1% year over year to $282 million on higher prices, partially offset by currency headwinds. The fiber glass industry grew modestly by varying degrees in each region. The segment’s income of $43 million was 16.2% higher than the year-ago quarter. Higher net sales and benefits of cost improvements were partly due to $3 million flat glass facility repair and startup related expenditure as well as lower equity earnings from Asian joint ventures.
PPG Industries currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the chemical space include Mitsubishi Chemical Holdings Corporation MTLHY, Shin-Etsu Chemical Co., Ltd. SHECY and Innospec Inc. IOSP, all sporting a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
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