PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

Paint and Coatings Industry News

Main News Page


PPG Posts Q2 Sales and Earnings

Tuesday, August 18, 2009

Comment | More

PPG Industries (Pittsburgh, PA) reported that it ended the second quarter of 2009 with more than $1 billion of cash on hand and with an increase in earnings over Q4 2008 and Q1 2009. Sales for Q2 2009, which ended June 30, were $3.1 billion, a decline of 30% and $1.4 billion, versus Q2 2008.

Charles E. Bunch, chairman and CEO, stated, “While sales and earnings were down versus last year, our cash generation was up 25%, and our earnings rose considerably in comparison to the previous two quarters.” He noted that the coatings segments combined with the Optical and Specialty Materials segment accounted for 90% of total segment earnings and were considerably stronger than the previous quarter. “Specifically, our Architectural Coatings—EMEA and Performance Coatings segments delivered nearly flat year-over-year earnings in local currencies,” said Bunch.

The Performance Coatings segment decreased by 16%, or $203 million, compared to Q2 2008. The protective and marine coatings and aerospace businesses experienced mild volume declines.

The Industrial Coatings segment’s sales fell by $411 million, or 36%, and segment earnings were $28 million, down by $81 million from Q2 2008. However, earnings in the segment were $68 million higher than in the fourth quarter of 2008.

Architectural Coatings—EMEA segment fell by $140 million, or 21%, but volume trends improved from Q1 2009.

Optical and Specialty Chemicals were down by $55 million, or 18%, as a result of lower sales volumes, including a 35% decline in silicas business sales. Commodity Chemicals had a sales decline of $176 million, or 36%.

Glass segment sales decreased by $374 million compared with the prior year due largely to the AG&S business divestiture, according to the company.

   

Tagged categories: Finance; PPG

Comment Join the Conversation:

Sign in to our community to add your comments.

Minerals Research & Recovery

HIGH PERFORMANCE ABRASIVES


“Made in the USA!”

Why recycle waste from other countries? Go FASTER, CLEANER, at 1/3 THE COST with MR&R “All-American” Sharpshot®HP!!

WATCH THE VIDEO


Polyval Coatings
Polyflex® Polyurea Linings

exhibit outstanding versatility in use; providing abrasion resistance, superior seamless waterproofing and high-chem corrosion protection. www.polyflexlinings.com


ITW Binks
Built for Tough Jobs

From Epoxies to Urethanes to other high solid coatings, the new Binks Airless 75 delivers a great finish using an ergonomic design. Visit binks.com for more information.


DeFelsko Corporation
PosiTector Dew Point Meter

Measures and records
environmental conditions
during surface prep and
painting. 4 Models
Available – Standard
or Advanced features,
Built-in or Separate probe.


Elcometer, Inc.
Elcometer 266
DC Holiday Detector

Easily Finds Pinholes, Flaws & Thin Spots; Safer, More Reliable Testing; Voltage-Adjustable Keypad; Dual-Safety Switch On Handle.


HP Spartacote, a Division of LATICRETE International
Fully Integrated Polyaspartic Coating Systems

HP Spartacote manufactures a full line of patented high performance resinous flooring systems which offer rapid return to service, outstanding durability and chemical resistance.


N.T. Ruddock Co.

Our Abrasives Hold Up Under Pressure

N. T. Ruddock focuses on abrasive selection, equipment evaluation, equipment maintenance & reduction of abrasive consumption. Other services include Screen Analysis & Background Radiation Testing.

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker JPCL Europe

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2014, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com