The protective and marine coatings business of PPG Industries Inc. (PPG) has unveiled SIGMA NEXEON, a unique range of copper-free high-activity marine coatings for commercial vessels. The coatings will help to protect ships from fouling during the new-building process and while in service.
SIGMA NEXEON coatings have been designed to keep the vessels underwater hulls free from fouling and discoloration while stationary in seawater so as to minimize cleaning costs before delivery to the field. This will also help to reduce environmental impact without compromising on operational efficiency.
The absence of copper in the coatings makes its application smooth, thus, delivering better fuel efficiency from the start. SIGMA NEXEON coatings do not have the ‘whitening’ effect when applied due to the absence of copper.
The SIGMA NEXEON range of products includes SIGMA NEXEON 710 and SIGMA NEXEON 750. SIGMA NEXEON 710 is the antifouling solution for operational vessels and is applicable at the time of construction and dry docking. SIGMA NEXEON 750 high-activity copper-free topcoat antifouling is for new-builds where outfitting takes longer than six months
The SIGMA NEXEON antifouling solutions have been recently applied to the underwater hulls of four new-build drill ships including NORBE VIII, NORBE IX, NORBE X and NORBE XI, in operation offshore Brazil for Odebrecht Oil & Gas Limited.
This copper-free antifouling solution has been developed through extensive research and testing at PPG’s own facilities and third-party studies at leading universities and test institutes in Korea and Japan. They have concluded that SIGMA NEXEON products are ‘low friction antifouling’ coatings.
PPG’s revenues from the Performance Coatings division, which includes the protective and marine coatings business, shot up 34% year over year to $1.6 billion in the third quarter of 2013 as gains from acquisitions more-than-offset a decline in volumes and unfavorable currency impact. The company witnessed higher sales across aerospace, automotive refinish and North American architectural coatings businesses.
PPG Industries currently carries a Zacks Rank #2 (Buy).
Other companies in the chemical industry worth considering are Asahi Kasei Corp. (AHKSY), Johnson Matthey plc (JMPLY) and Methanex Corp. (MEOH). While Asahi Kasei and Johnson Matthey hold a Zacks Rank #1 (Strong Buy), Methanex retains a Zacks Rank #2 (Buy).