PPG Industries, Inc. PPG announced the expansion of the OneChoice UV primer system for incorporating a handheld ultraviolet (UV) LED cure light that will provide a swifter solution.
The expanded system features the company’s advanced aerosol technology — SXA1081 UV primer and SUA1080 UV primer cleaner. It also includes the new UV and light protective gloves and glasses. Per the company, the new system will enable technicians to complete spot refinish repairs in only two-to-three minutes, which will boost cycle-time productivity and performance in automotive repair shops.
The new system has been engineered by PPG Industries to help shops save time as well as boost throughput and productivity by leveraging the efficiency of UV processing. It has combined an industry-leading cure speed with high-build performance. It is already adopted by automotive repair shops across the United States that utilize the company’s refinish paint systems.
Notably, SUA1080 UV primer product is a ‘shake and spray’. It requires no mixing and is quickly ready for sanding at the time of using the new handheld UV LED cure light. The light makes the curing process more convenient and effective compared with fixed-position lamp. Additionally, the SXA1081 primer cleaner enables technician to quickly clean the cured primer before sanding.
Moreover, the OneChoice system works over properly cleaned fiberglass, aluminum, steel and galvanized steel, polyester body filler along with semi-rigid and rigid plastic. However, it does not work on polyethylene and polystyrene. The system is compatible with all original equipment manufacturer and PPG refinish paint systems and suitable for usage across the Unites States and Canada.
Shares of PPG Industries have gained 10.7% in the past year, against the 33.5% decline of the industry.
PPG Industries is gaining from its cost cutting and restructuring initiatives, pricing actions and strategic acquisitions. It is executing significant restructuring actions to improve cost structure. The company expects to achieve roughly $70 million in cost savings in 2019.
The company has also identified certain opportunities to further improve the operating efficiency and also sustain commercial excellence. It is finalizing a new cost-savings program, which targets full-year run-rate savings of roughly $125 million once fully implemented.
However, PPG Industries faces cost pressure associated with raw materials and logistics. The company is also exposed to challenges from sluggish global industrial activities. It also faces headwinds from unfavorable currency translation.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote
Zacks Rank & Key Picks
PPG Industries currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the basic materials space are Materion Corporation MTRN, Flexible Solutions International Inc FSI and AngloGold Ashanti Limited AU. These stocks currently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Materion has an expected earnings growth rate of 27.3% for 2019. The company’s shares have gained 21.8% in the past year.
Flexible Solutions has a projected earnings growth rate of 342.9% for the current year. The company’s shares have surged 144.4% in a year’s time.
AngloGold has an estimated earnings growth rate of 90.6% for the current year. Its shares have rallied 116.8% in the past year.
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