A holding company with its subsidiaries that manufactures, markets and sells various chemical product lines, including paints, protective coatings and roofing systems, sealants and adhesives.
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PPG manufactures everything needed for a wide range of industries from food to tires, for manufacturers as well as the aftermarket refinishers. PPG's products include glass products such as flat and fabricated glass, continuous-strand fiber glass for the construction,furniture, and electronics industries, automotive original equipment and automotive replacement markets.
Chemicals include chlor-alkali chemicals, including chlorine, caustic soda, calcium hypochlorite and phosgene derivatives. It sells directly to manufacturing companies in the chemical processing, rubber and plastics, paper, metals and water treatment industries.
Some of PPG's well known products are,
Pittsburgh Paints
Manor Hall Paint
Porter Paints
Olympic Paint & Stain
Monarch Paint
Lucite Paint
IdeaScapes-used by designers and homeowners to match paint and glass used in the construction of homes and commercial buildings. This found at PPG's website.
Low-E glass- glass that has a low emissivity coating to increase energy efficiency of windows and doors and to decrease the UV effects of the sun.
PPG has incurred remediation settlement costs on September 27, 2006 of $106 million and $14 million in settlement costs. This has cut Q3 EPS by $0.72. The environmental remediation is expected at a chromium manufacturing facility in Jersey City, NJ and at its Lake Charles, LA facility. The $14 million in charges is for the settlement of a federal lawsuit related to antitrust issues in the US auto refinishing industry from 1993 through 2000.
The financials for PPG are as follows,
Trailing P/E (ttm) 15.33
Forward P/E (fye 31 December 07) 12.86
EBITDA (ttm) $1.70 billion
Revenue $10.51 billion
Revenue per share (ttm) $63.071
Quarterly revenue growth 6.30%
Gross Profit (ttm) $3.73 billion
Diluted EPS (ttm) $4.38
Quarterly earnings growth 21.20%
Total cash $419 million
Operating cash flow $1.13 billion
Forward annual dividend $1.92
Trailing annual dividend $1.90
PPG is a buy and hold for my book!
Yes, PPG is a wonderful company, but how is that related to RPM.PPG and Sherwin Williams are the best known paint companies in the US. RPM is a player in parts of the market. Benjamin Moore is owned by Warren Buffet's Berkshire Hathaway. Glidden used to be ICI, was just acquired by Akzo. Valspar is a stand alone, but not so well known as they use regional brand names (although now Valspar paint is at home improvement stores). Most other paint companies are small regional companies. Dutch Boy is a Sherwin Williams brand. SW bought the Sears paint supplier some years ago. Dupont and BASF continue to be players in some of the automotive coatings businesses and related specialties.PPG is the largest US based global player. But they are biggest in primers for autos.