PPG Industries Inc. has outperformed competitors despite recent losses. The company has confirmed its plans to lay off 1,800 workers as part of a company-wide cost-cutting plan and part of this plan includes selling off the company's coatings unit. Additionally, they struck a deal to sell the architectural coatings business in the U.S and Canada to American Industrial Partners. Despite these challenges, the firm is still favored by institutional owners who hold about 86% of the company. PPG Industries face challenges due to weak industrial coatings demand and missed Q3 earnings estimates. Regardless, the company sees these ventures as stepping stones to more strategic ventures and value creation. The company's stock has, nevertheless demonstrated resilience, outperforming many of its competitors despite the fallout from the recent losses on the day. They have also named a new color of the year for 2025, Brick Red Spray Paint. Lastly, the company is investing a whopping $300 million to bolster manufacturing in North America.
Ppg Industries PPG News Analytics from Mon, 26 Feb 2024 08:00:00 GMT to Sat, 02 Nov 2024 09:42:42 GMT -
Rating -4
- Innovation -3
- Information 6
- Rumor -5
