PPG Industries Inc. (NYSE:PPG) recently announced that LOT Polish Airlines has chosen PPG’s new chrome-free aerospace primer coatings system that provides resistance from corrosion. The coatings system is eco-friendly and provides excellent gloss as well as shine to repaint three Embraer E175 jets and a 737-400 airplane.
High-solids Desoprime 7065 chrome-free polyurethane primer applied over Desoprime CFWP 7530 chrome-free wash primer pretreatment are made to work together to inhibit corrosion. Further, the LOT Polish Airlines aircraft are being painted with high-solids Desothane HS 8800 buffable topcoat by PPG Industries that has excellent color and gloss retention, so that they can maintain their appearance for years.
LOT Polish Airlines is the first European airline to use the PPG primer and topcoat system to paint complete aircraft. Desoprime CFWP 7530 wash primer has good washability and provides outstanding adhesion for chrome-free Desoprime 7065 primer, which has resistance to fingerprints.
LOT Aircraft Maintenance Services (LOTAMS), a leading MRO (maintenance, repair and overhaul), repainted the 737-400 airplane and the first E175 jet at its Warsaw plant, where it will also repaint the additional two E175 jets. LOTAMS, for the first time in Europe, has painted an aircraft using a new, chrome-free primer system made by PPG.
The price of PPG industries has fallen 10.81%, while the Zacks categorized Chemical industry has fallen 2.26% in the past three months. The company is seeing weakness in Europe of late, evident from slower-than-expected volume growth in its last quarter. Weakness in some parts of the region is affecting architectural coatings volumes. Moreover, demand is anticipated to remain subdued in Latin America in the near term. The company projects a modest improvement in global demand in fourth-quarter 2016.
Further, PPG Industries remains exposed to significant currency headwinds. Some of its end-markets including marine also remain sluggish.
PPG Industries currently carries a Zacks Rank #5 (Strong Sell).
Stocks to Consider
Some better-ranked companies in the chemical space include Koppers Holdings Inc. (NYSE:KOP) , The Chemours Company (NYSE:CC) and Kronos Worldwide, Inc. (NYSE:KRO) , all sporting a Zacks Rank #1 (Strong Buy). You can the complete list of today’s Zacks #1 Rank stocks here.
Koppers Holdings has an expected long-term growth of 10%.
Chemours has an expected long-term growth of around 15.5%.
Kronos Worldwide has an expected long-term growth of around 5%.
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PPG INDS INC (PPG): Free Stock Analysis Report
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