PPG Opens Waterborne Automotive Coatings Plant in Thailand

Company Developments - PPG Industries has launched a waterborne automotive coatings manufacturing plant in Samut Prakan, Thailand, with an annual production capacity of 2,000 tons to meet the rising demand for sustainable coatings in Southeast Asia [1] - The new facility includes an automated spray application center aimed at enhancing services and improving competitiveness in the global market [2] - PPG is focusing on the Southeast Asian market, particularly in the automotive sector, and plans to partner with Chinese brands like BYD and Chery for localized production and technical support [3] Financial Outlook - PPG missed fourth-quarter 2024 earnings and sales estimates but projects adjusted EPS for 2025 to be between $7.75 and $8.05, indicating a 7% increase at the midpoint, with growth expected in the second half of 2025 [4] - PPG aims to achieve over $100 million in annualized share gains in its Industrial Coatings segment starting in the second half of 2025 [4] Industry Comparisons - Dow Inc. anticipates benefits from near-term projects and increased operational focus in 2025, with a cost-cutting initiative of $1 billion, including workforce reductions of 1,500 roles globally [5] - DuPont projects consolidated net sales for 2025 to be between $12.8 billion and $12.9 billion, with adjusted EPS forecasted between $4.30 and $4.40 [6] - Eastman Chemical expects modest volume growth in its specialty businesses in 2025, with an EBITDA growth commitment of $75-$100 million [7]