PPG Industries Inc. (PPG) has announced its participation in Automechanika Frankfurt 2024, the world’s leading trade fair for the automotive aftermarket. The event, scheduled from September 10th to 14th at the Messe Frankfurt exhibition center in Germany, will see PPG showcasing its latest digital and sustainable solutions. This participation marks the fifth anniversary of the introduction of the PPG Moonwalk automated mixing machine.
Visitors will have the opportunity to experience firsthand the innovative solutions designed to enhance the efficiency, precision, and sustainability of automotive refinishing processes. PPG will be demonstrating its advanced digital technologies, including tools from the PPG LINQ digital ecosystem. These tools are designed to improve precision and productivity within body shops.
PPG will also be highlighting products and processes that promote sustainability within the automotive sector. Customers can achieve their environmental goals by utilizing featured solutions like airdry technology and innovations in primer and basecoat technology. These innovations lead to substantial energy savings and carbon emission reductions due to shorter processing times and lower curing temperatures.
PPG’s methodology, which assesses product features and their contribution to the UN Sustainable Development Goals, is used to identify these sustainably advantageous products.
Over the past year, PPG shares have experienced an 8% decline, while its industry has seen a 9.8% decline. In the second quarter, PPG witnessed a mid-single-digit percentage year-over-year decline in organic sales for automotive refinish coatings. While sales volumes in the United States declined, Latin America saw modestly lower organic sales. Demand in Europe remained stable, while China saw a demand recovery for refinish products.
PPG’s LINQ services subscriptions experienced growth, and the company added approximately 230 Moonwalk installations during the quarter. These additions further support customer productivity and associated market share gains.
PPG projects adjusted earnings per share for the third quarter in the range of $2.10-$2.20. For the full year, the company anticipates adjusted EPS in the range of $8.15 to $8.30. These projections incorporate various factors such as current global economic activity, uneven global industrial production, reduced global automotive production, stabilizing demand in Europe, sustained growth in Mexico and India, and low single-digit growth in China.
