PPG reports second quarter 2016 financial results
PPG today reported second quarter 2016 net sales of $4.1 billion, down less than 1 percent versus the prior year. Net sales in local currencies grew by more than 1 percent year-over-year, and acquisition-related sales contributed more than 1 percent. Sales volumes and selling prices were flat versus the prior-year period. Unfavorable foreign currency translation impacted net sales by more than 2 percent, or about $95 million.
Racecar features first-ever composite rear suspension with PPG fiber glass
PPG announced that Polystrand Inc., a Denver-based manufacturer of thermoplastic composite materials, used TUFROV® 4510 and TUFROV 4588 fiber glass roving products by PPG to build a racecar featuring the world’s first thermoplastic composite rear suspension.
PPG signs agreement for sale of European fiber glass operations to Nippon Electric Glass
PPG today announced that it has signed an agreement for the sale of its European fiber glass operations to glass manufacturer Nippon Electric Glass Co. Ltd. (NEG). The transaction is subject to completion of employee consultation processes, receipt of regulatory clearances and other customary closing conditions. PPG and NEG expect to close the transaction in the second half of 2016.
PPG awarded DOE partnership for fiber glass manufacturing improvement project
PPG will partner with Lawrence Livermore National Laboratory (LLNL) to use high-performance computers to help reduce glass fiber breakage during the fiber glass manufacturing process. The PPG/LLNL collaboration was recently awarded through the U.S. Department of Energy’s new High Performance Computing for Manufacturing (HPC4Mfg) program.
PPG reports sustainability progress, updates 2020 goals
PPG today released its 2015 Corporate Sustainability Report, which details the company’s progress toward achieving its 2020 sustainability goals. The report is available at sustainability.ppg.com.
PPG marks successful 2015, record financials at annual meeting
PPG today held its annual meeting of shareholders in Pittsburgh, where President and Chief Executive Officer Michael H. McGarry spoke about the company’s continued strategic progress and record financial performance.
PPG reports record first quarter earnings per diluted share
PPG today reported first quarter 2016 net sales of $3.7 billion, consistent with the prior year. Net sales in local currencies grew 4 percent year-over-year, with acquisition sales contributing 3 percent and sales volume growth adding one percent. Unfavorable foreign currency translation impacted net sales by nearly 4 percent, or about $140 million.
PPG Foundation donates $5,000 to Cleveland County Schools
The PPG Foundation recently donated $5,000 to Cleveland County Schools in Shelby, North Carolina, to develop a mobile creation and experimentation makerspace for use in district programs. The grant was made on behalf of the local PPG fiber glass facility.
PPG Foundation donates $5,000 to American Red Cross of Northern South Carolina
The PPG Foundation recently donated $5,000 to the American Red Cross of Northern South Carolina to assist with disaster relief in the state following historic flooding this past October. The grant was made on behalf of PPG’s fiber glass plant in Chester.
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PPG Foundation supports Dorman High School Engineering Club
Rebecca Richardson, dean of the School of Engineering, Manufacturing and Industrial Technology at Dorman High School in Roebuck, South Carolina, recently accepted a $1,000 PPG Foundation check for the school Engineering Club to fund talks by guest speakers, visits to local manufacturing sites, and materials for engineering mini-projects to build bridges, balloon-powered cars and gliders.