- PPG Industries, Inc. (NYSE:PPG) plans to invest $11 million to double the production capacity of its powder coatings plant in San Juan del Rio, Mexico.
- The expansion project is expected to be completed by mid-2023 and will allow the plant to meet the expected future demand for powder coatings in Mexico.
- “With this investment, the plant will have new, state-of-the-art manufacturing technology, enhancing production practices and process flow,” said Guillermo Peña, PPG director, Industrial Coatings, Mexico.
- Additionally, Temple Economic Development Corporation (Temple EDC) stated that PPG plans to invest $9 million to expand an existing product line at its Temple, Texas facility, pending final negotiations with Temple EDC, the City of Temple, and Bell County.
- The project includes expanding PPG’s adhesives and sealants line, which will create 12 jobs.
- Price Action: PPG shares are trading higher by 0.52% at $127.89 on the last check Tuesday.
Exane BNP Paribas Downgrades Peloton Interactive to Underperform, Announces $8 Price Target
Exane BNP Paribas analyst Laurent Vasilescu downgrades Peloton Interactive (NASDAQ:PTON) from Neutral to Underperform and announces $8 price target.
