PPG Industries (PPG) Enhances Direct Draw Roving Portfolio

PPG Industries, Inc. PPG has enhanced its fiber glass direct draw roving portfolio with the addition of APE-free products. The company has declared plans to showcase these products at The Composites and Advanced Materials Expo (“CAMX”) to be held at the Dallas Convention Center in Texas from Oct 26–29, 2015. PPG Industries also stated that the products will be exhibited at trade shows, expositions and other industry events throughout 2016.

The APE-free products are hydrolysis-resistant and have strength-retention properties. The HYBON 2052 direct draw roving, available in E-Glass and E-CR Glass compositions, is meant for high- and low-pressure epoxy pipe applications and pressure vessels. The product also complements amine- and anhydride-cured epoxy resin systems.

According to Camilo Serrano, PPG global business manager, direct draw fiber glass products, these products are well suited for epoxy resin systems. Moreover, due to their hydrolysis resistance and strength retention, these products offer superior long-term composite durability for customers. The products are widely available in the U.S. in various TEX/YIELD options, in filament diameters ranging from 16–23 microns.

PPG Industries' shares closed around 2% lower at $102.50 last Wednesday. The stock is down roughly 19% so far this year.

PPG Industries has a diversified business and a leading position in several paints and coatings end markets. Its adjusted earnings per share for second-quarter 2015 topped the Zacks Consensus Estimate. However, sales fell short of expectations. Unfavorable currency translation weighed on revenues in the quarter. The company also saw a decline in its profit, hurt by hefty restructuring charges.

Further, the company’s revenues from the Glass segment dropped 3% in second-quarter 2015 to $279 million, as currency headwinds more than offset pricing gains. Glass volumes were flat due to the sale of a production unit in 2014. Fiber glass volumes were flat year over year.

PPG Industries currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the chemical space are Innospec Inc. IOSP, LyondellBasell Industries N.V. LYB and Akzo Nobel N.V. AKZOY. While Innospec sports a Zacks Rank #1 (Strong Buy), both LyondellBasell and Akzo Nobel carry a Zacks Rank #2 (Buy).