PPG Receives FAA Approval To Repair Airbus Cockpit Windows

PPG Industries (NYSE:PPG) has secured approval from the Federal Aviation Administration (“FAA”) to repair sliding and aft fixed cockpit windows for Airbus Group’s (OTC:EADSY) Airbus A320 Family jetliners. This allows PPG Industries to repair glass window assemblies produced by all manufacturers of Airbus A318, A319, A320 and A321 airplanes, along with the recently launched New Engine Option Family.

The procedure approved by the FAA includes replacing old glass panels with PPG Industries’ window panels and reusing frame retainers from either PPG or other suppliers. In addition to the FAA-approved repair service, PPG offers replacement for window assemblies and window panels. Prior to the approval of this service, unserviceable window assemblies were discarded and new windows were purchased to replace these. PPG Industries’ service will now reduce costs as well as wastage.

PPG Industries’ Huntsville, AL-based facility, operating under a FAA-licensed repair station, currently makes the original parts as well as replacements, and will now begin the repair service. Made of PPG’s high performance Herculite II glass, the repaired windows provide operators with a wider choice for window maintenance. The cockpit side windows are designed with panels and retainers from distinct components assembled together, enabling replacement and reuse of airworthy retainers. PPG Industries’ expertise in transparency repair services also makes it an ideal choice for operators.

Additionally, the company will be showcasing its latest cockpit side window and windshield design for the A320 Family at the Farnborough International Airshow from Jul 11−17. The benefits of the repair service for airplanes will also be explained at the booth.

Shares of PPG Industries rose around 1.6% in the trading session last Thursday, closing the day at $104.15.

PPG Industries’ adjusted earnings per share for first-quarter 2016 rose 11% year over year, marking the thirteenth consecutive quarter of double-digit growth in earnings. The bottom line also beat the Zacks Consensus Estimate by a penny. Results were aided by higher sales volume, cost management and acquisition-related gains. However, sales of $3.7 billion lagged the Zacks Consensus Estimate.

The company is working on developing as well as commercializing new consumer-driven technology. It is also improvising branding strategies. As in the past, management is focused on reducing costs and completing the previously announced restructuring program. PPG Industries has also reaffirmed its plans to deploy $2–$2.5 billion cash in the 2015–2016 period toward acquisitions and share repurchases.

PPG Industries currently holds a Zacks Rank #2 (Buy).

Some other favorably ranked stocks in the chemical space include Albemarle Corporation (NYSE:ALB) and Innospec Inc. (NASDAQ:IOSP) , both sporting a Zacks Rank #1 (Strong Buy).