PaintSquare.com
      | Connect Follow us on Twitter Like us on Facebook
About | Subscribe | Advertise
  

 

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.

Armakleen Company, The
ARMEX when nondestructive cleaning is critical

When cleaning substrates that cannot be damaged the only blast abrasive to use is ARMEX. Other blast abrasives can remove surface materials damaging the substrate.


Abrasives Inc.
See the difference immediately Black Magic®

Quality blast abrasive goes farther. Use Black Magic® The Tough Stuff coal slag. Cleaner, consistent, less dust. Order yours today!
Abrasives Inc. 800-584-7524


SAFE Systems, Inc.
Portable Blast &
Recovery Equipment

Trailer or skid mounted blast and recovery equipment. Systems designed for maximum versatility, environmental compliance
and overall cost savings.
Call 1-800-634-7278


Termarust Technologies
Termarust (HR CSA) Chemically Stops
Active Corrosion

Hydro Utility Penstock Overcoated in 1997. Was power washed and overcoated with major cost saving. No environmental impact with Termarust's low LC50 of 41,007 ppm.


WINOA Group
W Abrasives - Surf Prep Pack

Experts in surface preparation are not working only on greens. To discover the SURF PREP PACK dedicated to experts, come to visit us during the GIFA (Hall15 - D14).


Clemco Industries Corp.
Powerful Protection in a Small Package

Mounts inside blast helmet, alerts operator to dangerous breathing-air condition by audible, visual, and vibratory alarms. Easily calibrated, battery operated.


Trelawny Surface Preparation Technology
Surface Preparation Equipment

Manufacturer of needle scalers, grinders, scarifiers and scabblers. Pneumatic tools for Marine and Construction. US distributor CS Unitec: 800-700-5919


Novetas Solutions
Number 1 Crushed Glass Abrasive in America!

6 NEW plants coast to coast! Safe for environment, 100% recycled glass. White Metal Finish! No unsafe toxins like Beryllium & Arsenic!
Call 866-775-6226

 
 
 
Technology Publishing

The Technology Publishing Network

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

 
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 2000-2015, 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