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MarketScreener Homepage  >  Equities  >  Nyse  >  PPG Industries, Inc.    PPG

PPG INDUSTRIES, INC.

(PPG)
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PPG : Opens China Application Innovation Center in Zhangjiagang

04/01/2021 | 09:47am EDT

Facility marks region’s first cross-business application innovation center

PPG (NYSE: PPG) today announced the opening of its China Application Innovation Center (CAIC) in Zhangjiagang, Jiangsu Province, China. The facility is the company’s first cross-business research and development (R&D) center in the region, serving as a bridge between innovation and customer applications for its industrial, packaging and automotive refinish coatings businesses.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210401005518/en/

PPG announced the opening of its China Application Innovation Center in Zhangjiagang, Jiangsu Province, China. The facility is the company’s first cross-business research and development center in the region, serving as a bridge between innovation and customer applications for its industrial, packaging and automotive refinish coatings businesses. (Photo: Business Wire)

PPG announced the opening of its China Application Innovation Center in Zhangjiagang, Jiangsu Province, China. The facility is the company’s first cross-business research and development center in the region, serving as a bridge between innovation and customer applications for its industrial, packaging and automotive refinish coatings businesses. (Photo: Business Wire)

The CAIC is located in the Jiangsu Yangtze River International Chemical Industrial Park, which is adjacent to PPG’s Zhangjiagang manufacturing plant. The center’s advanced, automated equipment and technologies enable PPG to simulate the diverse environments and climates where PPG paints and coatings may be applied. This allows PPG scientists to test the properties of coating technologies, provide industry-leading color design, and offer customers more customized, high-quality paint products and solutions for broad applications.

The CAIC location also will enable PPG to quickly move newly developed applications to trial production at its Zhangjiagang plant, enabling increased speed to market for PPG innovations and accelerating product and service customization.

“The Zhangjiagang CAIC will play an essential role by fostering further collaboration between PPG businesses, increasing efficiency in product development and testing, and introducing more innovative applications and products to the Chinese market,” said Vincent Robin, PPG president, Asia Pacific. “This investment is an important step for PPG, honoring our commitment to the development of sustainable products, new applications and advanced technology in China and reinforcing our leadership in the industry.”

Added David Bem, PPG vice president, science and technology and chief technology officer, “CAIC is a critical component of PPG’s global lab footprint and further demonstrates our strong commitment to invest in China, our employees and our customers. The CAIC will cover broad markets and customer needs that range from electronic materials to packaging coatings under one roof, making it easier for the PPG science and technology team to provide value-added solutions to our customers.”

“CAIC is set to accelerate PPG innovation, research and development in China by sharing PPG global best practices, cutting-edge technologies and sustainable products,” said Cathy Yan, PPG general manager, corporate and government affairs, Asia Pacific. “This is in full alignment with the objectives and proposals put forward by the Chinese government in its 14th Five-Year Plan for National Economic and Social Development (2021-2025). The sustainable development of the Chinese market and the continuous improvement of the investment environment have further enhanced PPG's confidence in increasing investment and long-term development in the country.”

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 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 Industrial Coatings
CATEGORY Packaging Coatings
CATEGORY Automotive Refinish


© Business Wire 2021
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Financials (USD)
Sales 2021 15 888 M - -
Net income 2021 1 586 M - -
Net Debt 2021 4 347 M - -
P/E ratio 2021 22,9x
Yield 2021 1,45%
Capitalization 36 483 M 36 483 M -
EV / Sales 2021 2,57x
EV / Sales 2022 2,42x
Nbr of Employees 46 900
Free-Float 40,5%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 157,27 $
Last Close Price 153,97 $
Spread / Highest target 20,2%
Spread / Average Target 2,15%
Spread / Lowest Target -43,5%
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Managers and Directors
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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