Despite Poor Economic News, PPG Eyes Bright Future
Nevermind the negative economic news you've heard lately. PPG Industries CEO Charles Bunch joins a growing number of executives of U.S.-based companies, who expect good things to come.
"Even though the growth is uneven around the world and in certain of our end-use markets, we still think it's a solid economic picture and one in which we can continue to prosper," Bunch told Cramer Tuesday.
The 61-year-old executive has good reason to be bullish. After all, his specialty chemicals company recently reported a strong second quarter. PPG's earnings-per-share came in at 30 percent over its previous EPS record while its net income rose by 25 percent, he noted.
The Pittsburgh-based company, which manufactures protective and decorative coatings for a number of industries, has been expanding around the world. Bunch said it's quickly growing in China, India and Korea in particular.
"We have great end-use markets, like aerospace, that despite some of the negative economic news recently, the aerospace business is healthy and we're positioned to take advantage of some excellent growth there," Bunch said.
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