Brief of diving:
- PPG Industries Announced on Thursday It will invest $ 380 million to establish a new facility of aerospace coatings and sealants in Shelby, North Carolina.
- The 198,000 square feet building will initially include storage and units of manufacture to produce The full line of PPG aerospace products, according to the statement.
- The factory will create more than 110 jobs, with an average salary of $ 66,861, Governor Josh Stein said in his statement. The construction will begin in October and will be completed in 2027, the company said.
Divide vision:
As part of PPG’s plans, The next facility will be strategically located near Interstate 85 and Charlotte Douglas and International Airports of Greenville-Partanburg, which the painting company said it will improve its supply chain and shipping logistics.
The new factory will install advanced manufacturing technologies and processes aimed at reducing its environmental impact, maintaining quality and safety, said PPG in launch.
Clean sales of the first quarter of PPG dropped 4% year -on -year to $ 3.7 billion due to change rates and unfavorable disinvestments of foreign currency, according to a April 29 Launch of results. However, the net sales of the performance coating segment, of which aerospace coatings are part, increased by $ 7% to $ 1.3 billion.
The increase was driven by PPG aerospace products, which the company said in record sales for the first quarter with a two -digit percentage sales growth and a decline of $ 300 million. Growth was due to higher sales prices and sales volumes, the company said in a statement of values.
The demand for its aerospace products has increased progressively over the last two years. This was partly driven by aerospace manufacturers who exhausted their inventories at the height of Covid-19 Pandemic when production declined, said President and CEO Tim Knavish. The earnings call on April 30. Now, the aerospace industry gradually reconstructs the manufacturing pipes of subsequent and original equipment.
“Military, Commercial, General Avoiding Aftermarket, strong, strong, strong, strong,” Knavish said. “Retakes are years in these segments, not months, no quarters, years.”
Knavish used Boeing as an example, that was reported last month this It had a delay valued at more than $ 500 million.
PPG hopes that the demand for the aerospace product will grow in the Q2. Thus, the painting manufacturer has spent money on incremental production and making their manufacturing processes more efficient, especially for aerospace, Knavish said.
“Just say, be alert to larger capital investments that are under engineering analysis now that they would position this business for even better growth of rewards for our long -term shareholders,” said Knavish.
PPG has 177 Manufacturing Facilities Around the world, including three aerospace coatings and plant manufacturing sealants in Mojave, California; Gonfreville-Elcher, France; and Shildon, UK, According to your website.
