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PPG INDUSTRIES, INC.

(PPG)
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PPG : Innovation Named Finalist For Automotive News PACEpilot Award

04/29/2021 | 09:28am EDT

Company’s precision application technology streamlines painting of two-tone vehicles

PPG (NYSE:PPG) today announced that its precision application automotive coatings technology has been selected as a finalist for the 2021 Automotive News PACEpilot Award. The PACEpilot Awards recognize pre-commercial, post-pilot innovations in the automotive or future mobility category. PPG is one of 23 companies, and the only vehicle coatings supplier, represented among the award finalists.

The precision application technology is a zero-overspray coating system that greatly streamlines the painting of two-tone vehicles. The system produces crisp paint edges without the use of masking and other time-intensive steps currently required to achieve a two-tone finish.

The process, which applies a specially designed PPG decorative coating using innovative application heads, reduces paint shop time by approximately 50 minutes per two-tone vehicle. The new process also eliminates the need for extra cleaning and detackification. Additionally, this process advances customer sustainability goals by reducing CO2 emissions and eliminating energy-intensive air filtering systems that handle overspray from the paint application process, further reducing costs and improving efficiency without compromising quality.

The conventional process for achieving a two-tone finish requires that a vehicle be fully coated with primer, up to two basecoats and a clearcoat before paint shop personnel mask off areas that will not receive the second color. The vehicle must then be run a second time through the paint line or a repair line, where the contrasting color and an additional clearcoat are applied. In addition to reducing paint shop capacity, this second run can add significant material, labor and energy costs to the total unit cost of the vehicle.

PPG’s new application technology comes at a time when two-tone vehicles are gaining favor. First popularized in the U.S. in the 1950s, these contrasting color schemes can now be found on dozens of models sold in Europe and North America.

“One day, complete cars might be painted using precision application technology, offering OEMs even more options for enhancing the appeal of their vehicle models,” said Wolfgang Klaeger, PPG global manager, decorative technologies, automotive OEM coatings. “The success of this technology in the automotive space, with its stringent performance requirements, could lead to opportunities in other transportation categories such as aerospace, motorcycles, buses and trains.”

Recipients of the 2021 PACEpilot Awards will be announced September 30 at a ceremony in Detroit. For additional information about the PACE Awards program, visit www.autonews.com/awards/pace-program.

PPG: WE PROTECT AND BEAUTIFY THE WORLD™

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for more than 135 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 70 countries and reported net sales of $13.8 billion in 2020. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

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

CATEGORY Automotive OEM Coatings


© Business Wire 2021
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Financials (USD)
Sales 2021 16 656 M - -
Net income 2021 1 739 M - -
Net Debt 2021 4 805 M - -
P/E ratio 2021 23,1x
Yield 2021 1,31%
Capitalization 39 860 M 39 860 M -
EV / Sales 2021 2,68x
EV / Sales 2022 2,47x
Nbr of Employees 46 900
Free-Float 40,6%
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Number of Analysts 24
Average target price 181,55 $
Last Close Price 168,12 $
Spread / Highest target 22,5%
Spread / Average Target 7,99%
Spread / Lowest Target -42,9%
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NameTitle
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
Robert King VP-Global Operations, Industrial Segment
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