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PPG to Launch TRIVEX Lens Practice Program

Zacks Equity Research

PPG Industries (PPG) and its U.K. partners have introduced a new TRIVEX Lens Specialist Practice program for 2014 for the U.K. market in order to increase the interest and growth of TRIVEX lens materials among independent eye care professionals in the U.K.

PPG, which is well known as the inventor of CR-39 lens material, also develops optical innovations such as TRANSITIONS photochromic lenses and TRIVEX lens material.

The program is designed to provide knowledge and training to eye care providers and opticians who wish to broaden their expertise and gain experience about Trivex lens material along with its marketing tools so that they can recommend a lens that will truly exceed their patients’ expectations.

Every eye care provider taking part will be identified as a TRIVEX Lens Specialist Practice and provided with point-of-sale materials and important information regarding dispensing TRIVEX lenses. They will also get the opportunity to participate in an online training seminar and get invitations to various social gatherings.

PPG Industries has a diversified business, both in terms of products offered and geographical presence. It is a global leader in protective and marine coatings and has a leading position in several paints and coatings end markets.

PPG Industries saw its profit jump in fourth-quarter 2013, reported on Jan 16, on strength in its coatings business and its cost management initiatives. Adjusted earnings of $1.81 per share topped the Zacks Consensus Estimate by 8 cents. Healthy momentum across aerospace and automotive markets aided the results. PPG Industries envisions favorable market conditions across these end markets in 2014.

Revenues rose 14% year over year to $3,702 million in the quarter from $3,243 million in the year-ago quarter. The number was also ahead of the Zacks Consensus Estimate of $3,698 million. The year-over-year rise is attributable to a higher industry demand in aerospace and automotive OEM coatings. The results were also aided by stabilizing regional demand in Europe.

Moving ahead, PPG Industries envisions growth to retain its strong base in the U.S. with healthy trends across several coatings end-use markets. The company expects measured growth in the European region in 2014, which represents about one-third of its sales.

PPG Industries currently carries a Zacks Rank #2 (Buy).

Other companies in the chemical industry worth considering include Northern Technologies International Corp. (NTIC), The Dow Chemical Company (DOW) and Methanex Corporation (MEOH). While Northern Technologies carries a Zacks Rank #1 (Strong Buy), both Dow and Methanex hold a Zacks Rank #2.

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