PPG Industries launches a new product

On March 12, PPG Industries (PPG) announced the launch of its Powercron 160 electrocoat in North America. The Powercron 160 electrocoat is a next-generation epoxy coating. The new product offers a high film build and has a low volatile organic compound (VOC) content.

PPG Launches Powercron 160 Electrocoat in North America

The Powercron 160 electrocoat uses proprietary chemistry, which enables high film builds. The coating is targeted to meet automotive and heavy-duty equipment manufacturers and other metal finishers’ requirements. Jim Gezo, PPG’s Substrate Protection Systems product manager for Industrial Coatings, said, “While other anionic e-coat products are limited to specific pretreatments and substrates, PPG Powercron 160 e-coat enables coaters to provide corrosion performance over multiple pretreatments and on high-profile substrates. The unique chemistry also allows these performance enhancements to be executed with a product that is lower in VOC content than other anionic technologies.”

Stock price updates

PPG Industries’ stock price rose 0.4% and closed at $110.03 for the week ending March 15. The gains caused PPG Industries stock to trade 4.6% above its 100-day moving average price of $105.24, which indicates the positive trend in the stock. The company’s 14-day relative strength index is at 53, which indicates that the stock isn’t overbought or oversold.

On a year-to-date basis, PPG Industries stock has risen ~8.7%. Sherwin-Williams (SHW) and Axalta (AXTA) have risen 10.6% and 13.5%, respectively, while RPM International (RPM) has fallen 1.9%.

Investors could hold PPG Industries indirectly by investing in the Guggenheim S&P 500 Equal Weight Materials ETF (RTM). RTM rose 1.1% during the week. RTM has invested 4.0% of its portfolio in PPG Industries as of March 15.

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