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PPG INDUSTRIES, INC.

(PPG)
  Report
Real-time Estimate Cboe BZX  -  02:14 2022-10-05 pm EDT
119.84 USD   +0.58%
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PPG announces PPG INNOVEL PRO technology, an upgrade to its non-bisphenol beverage can coating

08/01/2022 | 09:46am EDT

Enhanced internal spray increases production efficiency for aluminum cans

PPG (NYSE: PPG) today announced PPG INNOVEL® PRO, an enhanced internal spray coating that uses no bisphenol-A (BPA) or bisphenol starting substances and provides more robust application properties for the infinitely recyclable aluminum beverage can.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220801005497/en/

PPG INNOVEL® PRO coating is an enhanced internal spray coating that uses no bisphenol-A (BPA) or bisphenol starting substances while offering better application properties for aluminum beverage cans. (Photo: Business Wire)

PPG INNOVEL® PRO coating is an enhanced internal spray coating that uses no bisphenol-A (BPA) or bisphenol starting substances while offering better application properties for aluminum beverage cans. (Photo: Business Wire)

PPG Innovel PRO is a next-generation, high-performance acrylic coating that draws on PPG Innovel’s nearly 10 years as the market’s most widely used non-BPA internal beverage spray coatings. The company estimates that PPG Innovel coatings have been used on more than 220 billion cans in more than 40 countries to date.

PPG Innovel PRO coating complies with all global food contact standards for consumer safety, and its improved application properties provide operational benefits for can plants around the world.

“The growing and dynamic beverage can industry requires solutions that satisfy all global regulations to remove bisphenols from food contact coatings while ensuring maximum can line production speeds and minimal spoilage,” said Amy Ericson, PPG senior vice president,

Packaging Coatings. “PPG Innovel PRO coating is a future-forward solution that doesn’t rely on BPA or any other bisphenol starting substances while protecting both can and beverage integrity.”

Validated with the PPG SAFEASSURE™ protocol for safe food-contact coating development, PPG Innovel PRO coating reliably supports the ever-widening range of filling goods that beverage brands want to can. It features a lower migration profile than standard epoxy and epoxy-mimic coatings, and all PPG Innovel internal spray coatings have achieved Platinum CRADLE-TO-CRADLE® material health certification from the Cradle-to-Cradle Products Innovation Institute.

“The innovation goes beyond the product itself,” Ericson said. “PPG offers customers a resilient supply chain with manufacturing sites across the globe. The new coating also comes with the support of industry-leading technical and regulatory support teams, which provide on-site expertise to keep customer operations running smoothly. PPG Innovel PRO coating is a big step forward for the industry, enabling major beverage brands to more efficiently offer safer and more sustainable metal-packaged drinks that today’s consumers can feel good about.”

For more information about PPG Innovel coatings, visit www.packagingcoatings.com/en-US/innovel-pro

PPG: WE PROTECT AND BEAUTIFY THE WORLD®

At PPG (NYSE: PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for nearly 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 75 countries and reported net sales of $16.8 billion in 2021. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

PPG SafeAssure is a trademark and Innovel, the PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.

Cradle-to-Cradle is a registered trademark of Cradle to Cradle Products Innovation Institute

CATEGORY Packaging Coatings


© Business Wire 2022
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Analyst Recommendations on PPG INDUSTRIES, INC.
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Financials (USD)
Sales 2022 18 011 M - -
Net income 2022 1 290 M - -
Net Debt 2022 5 394 M - -
P/E ratio 2022 21,8x
Yield 2022 2,01%
Capitalization 28 000 M 28 000 M -
EV / Sales 2022 1,85x
EV / Sales 2023 1,80x
Nbr of Employees 49 300
Free-Float 40,4%
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 119,15 $
Average target price 143,24 $
Spread / Average Target 20,2%
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Managers and Directors
Michael H. McGarry Chairman & Chief Executive Officer
Vincent J. Morales Chief Financial Officer & Senior Vice President
David S. Bem CTO, Vice President-Science & Technology
Bhaskar Ramachandran Chief Information Officer & Vice President
Timothy M. Knavish Chief Operating Officer
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