PPG Partners SARO/Siccardi, Boosts Powder Coatings Presence in Italy

Partnership and Market Expansion - PPG Industries Inc has partnered with SARO/Siccardi, Italy's largest distributor of powder coatings, to strengthen its distribution network in Italy and enhance customer access to high-quality products and services [1] - The collaboration leverages PPG's global leadership in powder coating technology and SARO/Siccardi's market expertise and strong regional presence to provide superior product protection and an efficient purchasing experience for customers [2] - The partnership will enable closer collaboration with customers, offering specialized solutions, technical support, competitive pricing, and faster access to PPG's advanced powder coating technology through SARO/Siccardi's extensive distribution network [3] Strategic Focus on Powder Coatings - Since 2019, PPG has prioritized expanding its powder coating business through strategic alliances, acquisitions, R&D investments, and capacity enhancements to meet the growing demand for sustainable manufacturing solutions [4] - Powder coatings, which are solvent-free and emit no VOCs, align with PPG's goal of deriving 50% of sales from environmentally advantageous products and processes by 2030 [4] Financial Performance and Outlook - PPG's shares have declined 11.3% over the past year, underperforming the industry's 10.3% decline during the same period [5] - The company anticipates flat organic sales and adjusted earnings per share in the range of $8.15 to$8.30 for full-year 2024 [6] Industry Comparison and Stock Performance - Carpenter Technology Corporation (CRS) has outperformed with a 157.2% share price increase over the past year and an average earnings surprise of 14.1% in the last four quarters [8] - IAMGOLD Corporation (IAG) has seen a 112% share price rally and a 522.2% year-over-year earnings growth estimate, with an average earnings surprise of 203.4% in the last four quarters [9] - CF Industries Inc (CF) has rallied 13.1% over the past year, with an average earnings surprise of 10.3% in the last four quarters [10]