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Project(s): View 3 related projects in PECWeb
Plant(s): View 3 related plants in PECWeb
Released October 25, 2016 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--PPG Industries Incorporated (NYSE:PPG) (Pittsburgh, Pennsylvania) has reported a net loss of $201 million for third-quarter 2016, compared to net income of $415 million for third-quarter 2015. Industrial Info is tracking projects with a combined value of $202.2 million belonging to PPG, including projects in the U.S., China and Russia.
"The largest shortfall that we experienced during the third quarter was slower than expected volume growth in Europe," said Michael Mcgarry, president and chief executive officer of PPG, in an earnings conference call last week. "This region has been one of our strongest growth engines over the past year plus. Our year-over-year European volumes, which have been growing by low- to mid-single digit percentages, came in essentially flat for the quarter."
Industrial Info continues monitoring PPG projects in the U.S. and abroad. In Russia, the company is constructing a $30+ million grassroot plant to produce 25,000 tonnes per year of water-based coatings. Construction began in late 2014 and expected to be completed before the end of this year.
Among the top U.S. PPG projects being tracked by Industrial Info is the $55 million expansion at the company's plant in Westlake, Louisiana. Upon completion of a debottlenecking project, the company will expand the plant to accommodate new product lines and area utilities. The expansion is expected to kick off in early 2017 and be completed by the end of the year.
Also on the books is the company's $10 million planned plant expansion in Barberton, Ohio, which includes the addition of four new reactor vessels to increase the company's production of electronic specialty chemicals. The project is expected to kick off later this year and be completed in the second quarter of 2017.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
"The largest shortfall that we experienced during the third quarter was slower than expected volume growth in Europe," said Michael Mcgarry, president and chief executive officer of PPG, in an earnings conference call last week. "This region has been one of our strongest growth engines over the past year plus. Our year-over-year European volumes, which have been growing by low- to mid-single digit percentages, came in essentially flat for the quarter."
Industrial Info continues monitoring PPG projects in the U.S. and abroad. In Russia, the company is constructing a $30+ million grassroot plant to produce 25,000 tonnes per year of water-based coatings. Construction began in late 2014 and expected to be completed before the end of this year.
Among the top U.S. PPG projects being tracked by Industrial Info is the $55 million expansion at the company's plant in Westlake, Louisiana. Upon completion of a debottlenecking project, the company will expand the plant to accommodate new product lines and area utilities. The expansion is expected to kick off in early 2017 and be completed by the end of the year.
Also on the books is the company's $10 million planned plant expansion in Barberton, Ohio, which includes the addition of four new reactor vessels to increase the company's production of electronic specialty chemicals. The project is expected to kick off later this year and be completed in the second quarter of 2017.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
