Tag Archives: North American

Mobile users clam up, use more data, survey shows

Mobile users in North America are hanging up and using email, text or social networking at a rapid pace, according to a survey by PriceWaterhouseCoopers.

Postpaid subscribers, who pay a regular bill for mobile service at the end of each month, spent an average of 673 minutes per month talking on the phone in the year as of June 30, 2012. That was down from 714 minutes per month a year earlier, while those same subscribers’ monthly data use grew from 548MB to 694MB, according to a PwC survey of North American mobile operators released on Friday.

Cost-conscious consumers finally joining the mobile revolution is probably one reason for the fall in talk minutes, PwC said, but data services are definitely on the rise. Customers using new, faster networks are consuming 700 percent more data than the average subscriber. The average user of these so-called mobile broadband networks used about 4.8GB of data per month as of June 2012, up from about 3.6GB the previous June.

Smartphones are the gateway to these new mobile habits for many consumers. In June 2012, 56 percent of postpaid subscribers had smartphones, up from just 39 percent a year earlier, PwC reported. Tablets are playing a big role, too: For the average North American carrier surveyed, the number of tablet connections to the mobile network grew by almost 43 percent from 2011 to 2012.

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From: http://www.pcworld.com/article/2036007/mobile-users-clam-up-use-more-data-survey-shows.html#tk.rss_all

Tested! 2014 Mazda 6 Brings Andretti Family Values to the Mid-Size Sedan

By Tony Quiroga

The Continental

Long limbed and slightly poisonous, the yellow sac spider (Cheiracanthium inclusum) is a North American native whose looks are as terrible as you’d expect from anything with “sac” in its name. The little creature fell hard for the previous-generation Mazda 6, and for reasons unknown outside the arachnid world, the eight-eyed webmasters started shacking up in the 6’s evaporative canister vent line at some point between the plant and dealerships, prompting the recall of 65,000 cars. However, while spiders voted with their feet for the 6, Mazda always struggled to get actual humans into the car. READ MORE ››

From: http://feedproxy.google.com/~r/caranddriver/blog/~3/WRrCOz5HYFY/2014-mazda-6-i-sport-test-review

Kimberly-Clark Posts Higher Profit on Strong Int'l Growth

By Reuters

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Jeff Chiu/AP

Kimberly-Clark posted a bigger-than-expected jump in first-quarter earnings and raised its forecast for the year Friday as the maker of Kleenex tissues and Huggies diapers saw strong growth in its international markets and cut costs.

The company, which competes against larger rival Procter & Gamble Co. (PG) in categories such as diapers and paper products, said it cut $85 million in costs during the quarter.

Shares of the company rose 2.6 percent to $104 in trading before the market opened.

Excluding items such as restructuring costs, Kimberly-Clark earned $1.48 a share, well ahead of an average forecast by analysts of $1.34, according to Thomson Reuters I/B/E/S.

Net income rose to $531 million, or $1.36 a share, from $468 million, or $1.18 a share, a year earlier.

Sales rose 1.5 percent to $5.32 billion, topping analysts’ forecast of $5.28 billion.

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In personal care, the company’s largest segment with products such as Huggies diapers, North American sales were flat as a 1 percent price increase offset lower sales volumes. Sales of these products rose 4 percent in international markets, helped by a 2 percent price increase and growth in countries such as China, Russia and South Korea.

Kimberly-Clark Corp. (KMB) said it expected to post 2013 earnings a share of $5.60 to $5.75, excluding items, versus its prior target of $5.50 to $5.65. The analysts’ average forecast is $5.59.

While the company has been cutting some expenses, materials and distribution costs rose in the quarter. Input costs were up $35 million from a year earlier, with increases of $15 million for fiber, $10 million for other raw materials and $10 million for distribution, it said.


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From: http://www.dailyfinance.com/2013/04/19/kimberly-clark-earnings/

Report: Acura built just 91 examples of the ILX last month, here's why

By Jonathon Ramsey

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The short life of the Acura ILX has been vexed by one glaringly odd standard equipment choice, mediocre reviews, getting outsold by its competition as it posted slower-than-projected sales and a pledge by Honda to upgrade its supposedly upgraded offering. Therefore, when Automotive News reports that just 91 of the Civic-based Acura sedans were manufactured last month – after a string of production months in double-digits – it would be easy to press the button for the alarm bells.

But that would be hasty, because it is actually the 2013 Honda Civic that is crimping the production pipeline of the ILX. The vastly higher sales numbers of the Honda meant that all three North American plants that produce it needed to crank up output to satisfy dealer inventory needs, including the Greenburg, Indiana plant that makes both the Civic and the ILX. As the classic guns-vs-butter Economy 101 lesson taught us – in which making more of one necessarily means making less of the other – well, the Civic is the gun.

Honda prepared for this eventuality by cranking out the Acuras while it got ready for Civic production. The ILX has held steady at about 500 units shy of company projections every month, and the current inventory represents about 90 days worth of sales. That makes Greenburg’s ostensibly low numbers in line with the realities of the ILX, and the situation probably won’t change much as Acura gets ready for the improved 2014 ILX.

Acura built just 91 examples of the ILX last month, here’s why originally appeared on Autoblog on Thu, 18 Apr 2013 19:30:00 EST. Please see our terms for use of feeds.

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From: http://feeds.autoblog.com/~r/weblogsinc/autoblog/~3/8yvxcvHspEU/

KAR Auction Services, Inc. to Announce First Quarter 2013 Earnings

By Business Wirevia The Motley Fool

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KAR Auction Services, Inc. to Announce First Quarter 2013 Earnings

CARMEL, Ind.–(BUSINESS WIRE)– KAR Auction Services, Inc. (NYS: KAR) announced today that it will be releasing its first quarter 2013 earnings on Wednesday, May 1, 2013.

KAR Auction Services, Inc. will also be hosting an earnings conference call and webcast on Thursday, May 2, 2013 at 11:00 a.m. EDT (10:00 a.m. CDT). The call will be hosted by KAR Auction Services, Inc.’s Chief Executive Officer, Jim Hallett and Executive Vice President and Chief Financial Officer, Eric Loughmiller. The conference call may be accessed by calling 1-888-466-4414and entering participant passcode 156725 while the live web cast will be available at the investor relations section of www.karauctionservices.com.

A replay of the call will be available for two weeks via telephone starting approximately 30 minutes after the completion of the call. The replay may be accessed by calling 1-888-203-1112and entering pass code 1235452. The archive of the web cast will also be available following the call and will be available at the investor relations section of www.karauctionservices.com for a limited time.


About KAR Auction Services, Inc.

KAR Auction Services, Inc. (NYS: KAR) is the holding company for ADESA, Inc. (“ADESA”), Insurance Auto Auctions, Inc. (“IAA”), and Automotive Finance Corporation (“AFC”). ADESA is a leading provider of wholesale used vehicle auctions with 67 North American locations and its subsidiary OPENLANE provides a leading Internet automotive auction platform. Insurance Auto Auctions is a leading salvage vehicle auction company with 163 sites across North America. Automotive Finance Corporation is a leading provider of floorplan financing to independent and franchise used vehicle dealers with 104 sites across North America. Together, KAR Auction Services provides a unique, comprehensive, end-to-end solution for our customers’ remarketing needs. Visit karauctionservices.com for additional information.

KAR Auction Services, Inc.
Treasurer and Vice President, Investor Relations
Jonathan Peisner, 317-249-4390
jonathan.peisner@karauctionservices.com

KEYWORDS:   United States  North America  Indiana

INDUSTRY KEYWORDS:

The article KAR Auction Services, Inc. to Announce First Quarter 2013 Earnings originally appeared on Fool.com.

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From: http://www.dailyfinance.com/2013/04/17/kar-auction-services-inc-to-announce-first-quarter/

Wonderbook’s Second Game’s Release Window

Sony has announced new information about Diggs Nightcrawler, the second game to utilize the Wonderbook controller. Diggs Nightcrawler will hit Europe first on May 29th, while North American gamers will simply see the game “this Holiday.”

As described on the PlayStation blog, Diggs Nightcrawler is a film noir-style mystery following famous characters including Little Bo Peep, the Itsy Bitsy Spider, the Three Little Pigs and Humpty Dumpty.

According to Sony, “Diggs is a detective bookworm who knows he’s inside a book, whose world is made from books, and who travels throughout the course of the game to different sections of the library, meeting unique characters along the way. Of course, being Wonderbook, this is no ordinary hardcover. It is your controller as you tilt, rotate and turn the pages to help Diggs get the bottom of Humpty’s downfall.”

Continue reading…

From: http://www.ign.com/articles/2013/04/16/diggs-nightcrawler-wonderbook-release-window-announced

How hacking fixed the worst video game of all time

According to urban legend, a landfill somewhere in the small city of Alamogordo, New Mexico, bulges with millions of copies of the worst game ever made—a game that many observers blamed for the North American video-game sales crash of 1983. Atari’s bubble burst because of a little alien.

In December 1982, Atari released E.T. the Extra-Terrestrial for the Atari 2600, and critics quickly labeled it the worst game of all time. In light of many more-recent debacles—I’m looking at you Aliens: Colonial Marines and SimCitygranting “worst game ever” status to E.T. in perpetuity seems somewhat unfair. Nonetheless, this primordial Atari 2600 title continues to top “worst of” charts, including our own, time and time again.

So why should you give it another chance? Because code hackers managed to fix some of the games most glaring problems, and now it’s actually fun to play.

What went wrong?

When Atari finally got the rights to the E.T. name in late July 1982, it wanted to make the game a holiday-season sales hit. Steven Spielberg chose Howard Scott Warshaw (designer of both Yars’ Revenge and Raiders of the Lost Ark, two of the best Atari games ever) to design the game, and Atari established a schedule that gave him just five weeks to do the job.

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From: http://www.pcworld.com/article/2032869/how-hacking-fixed-the-worst-video-game-of-all-time.html#tk.rss_all

Is This the Biggest Threat to OPEC?

By Arjun Sreekumar, The Motley Fool

Filed under:

The Organization of the Petroleum Exporting Countries, or OPEC, describes itself as “a permanent intergovernmental organization of 12 oil-exporting developing nations that coordinates and unifies the petroleum policies of its Member Countries.”

Historically, the organization has exerted considerable influence on the world oil market, with many even characterizing it as a cartel. Over the past three decades or so, it has produced a little less than half of the world’s oil, with its Gulf State members still controlling most of the world’s crude oil spare capacity. By lowering their collective output, OPEC members can push global oil prices higher, or so the logic goes.

But now, there is convincing evidence that OPEC’s sway in the oil market is waning. Let’s take a closer look at some of the major recent developments that may be keeping OPEC members up at night.

OPEC’s glory days
In previous decades, OPEC‘s influence on the global oil market was almost undeniable. The surge in oil prices during 1973, for instance, can be attributed largely to OPEC actions, which included a dramatic increase in “posted prices” for their oil, as well as a wave of nationalizations among OPEC member nations and the organization’s temporary embargo against the U.S. and others.

But a lot has changed since those days. Since 2008, non-OPEC oil supplies have increased dramatically, fueled by growing production from U.S. shale, Canada‘s oil sands, and deepwater discoveries off the coasts of Brazil, Africa and other parts of the globe.

This year, non-OPEC supplies are projected to grow by almost 1 million barrels a day, largely because of advances in drilling technologies that have allowed energy companies to extract massive quantities of oil from leading U.S. shale plays such as North Dakota‘s Bakken and Texas’ Eagle Ford.

In the Bakken, for instance, Kodiak Oil & Gas roughly tripled its average production between 2011 and 2012 and is projecting to double this year’s production from last year’s levels. And in the Eagle Ford, Chesapeake Energy reported fourth-quarter daily net production of 62,500 barrels per day, representing a whopping 266% year-over-year increase.

Not surprisingly, North Dakota‘s field production of crude oil has increased more than fivefold over the past five years, going from 45.1 million in 2007 to 242.5 million barrels last year, while Texas’ crude oil production has almost doubled over the same period, from 391.1 million barrels to 721.4 million.

OPEC lowers its forecast
Though senior OPEC officials initially downplayed the threat of rising North American oil supplies, it looks as though the organization has now started to seriously consider the shale boom as a major threat.

Last month, it reduced its forecast of demand for its crude oil this year by 100,000 barrels per day to 29.7 million barrels a day, citing growth in U.S. shale production as a major factor underlying the downward revision. If the new forecast turns out to be accurate, demand for OPEC crude would be 350,000 barrels a day

From: http://www.dailyfinance.com/2013/04/14/is-this-the-biggest-threat-to-opec/

What Does GE's Recent Purchase Say About the Oil Industry?

By Tyler Crowe and Aimee Duffy, The Motley Fool

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On the surface, General Electric‘s  announcement that it will buy Lufkin Industries  just appears to be a manufacturing giant picking up an oilfield services manufacturing specialist. If you dig deeper, though, you find that this could be a big signal of what is to come in North American oil and gas production. Lufkin’s specialty is building artificial lift equipment for oil and gas wells, a service normally reserved for mature wells that need a little extra help bringing resources to the surface. 

With so much drilling happening in the U.S. over the past few years, there may be a big boom for this type of particular equipment in the next couple of years. With this purchase, not only is GE locking up a larger market share in this particular industry, but the high price it paid, it shows how valuable this market could be. in this video, Fool.com contributor Tyler Crowe discusses how the deal went down, and he also gives some possible investment ideas that follow this particular trend.

For GE, the recent financial crisis struck a blow, but management took advantage of the market‘s dip to make strategic bets in energy. If you’re a GE investor, you need to understand how these bets could drive this company to become the world’s infrastructure leader. At the same time, you need to be aware of the threats to GE‘s portfolio. To help, we’re offering comprehensive coverage for investors in a premium report on General Electric, in which our industrials analyst breaks down GE‘s multiple businesses. You’ll find reasons to buy or sell GE today. To get started, click here now.

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From: http://www.dailyfinance.com/2013/04/14/what-does-ges-energy-purchase-say-about-the-indust/

The U.S. Oil Import Story in 5 Charts

By Aimee Duffy, The Motley Fool

Filed under:

You can’t read the news lately without some mention of the current domestic energy boom. The U.S. is producing more oil than it has in a long time, and as a result we are importing less oil than we have in decades. Today, I’m going to take a closer look at five charts to show what it is exactly we are importing, where it comes from, where it goes, and what our energy import future really looks like.

1. Imports by type
Unless explicitly referred to as crude oil, when we read about “oil imports” the number tossed about often includes refined petroleum products such as diesel, jet fuel, and gasoline. Though the overwhelming majority of our oil imports are in fact comprised of crude oil, we do import significant quantities of refined products. In March, crude oil imports were about 7.6 million barrels per day, while products imports came to about 1.8 million barrels per day. The chart below shows the types of products and relative quantities that made up the bulk of our petroleum imports last year, not including crude oil.

Source: EIA 

2. Imports from world regions
Many politicians tout “North American” energy independence as an achievable goal in the coming years, and the chart below indicates why. As recently as March of this year, Mexico and Canada were two of our three top sources for oil imports. In fact, in January Mexico actually sent us more oil than Saudi Arabia did, the difference between imports from the two countries often comes down to volumes as small as 100 barrels per day.

Source: EIA 

You’ll notice that imports from Nigeria and Angola are among the smallest slivers in this pie chart. Light sweet crude from West Africa has almost completely been replaced by light sweet crude produced domestically in places like North Dakota and South Texas.

3. Imports to U.S. regions
Our changing import story has different effects on different regions of the country. For example, the major refining center on the Gulf Coast has drastically cut imports, as evidenced by the chart below. That move makes sense: Domestic oil is cheaper, so refiners are buying that instead.

Source: EIA 

The Midwest region is increasing imports, which sounds perplexing; after all, the Midwest is home to the Bakken Shale, the source of much of U.S. production growth right now. But the Midwest also serves as a hub for Canadian crude imports, and that line on our chart will probably continue to tick upward in the future.

4. Watch out for falling imports
Last month, the EIA released a report that indicated that if everything goes according to plan, next year the U.S. will produce more oil than it imports for the first time since 1995.

Source: EIA 

5. Surging domestic production
As the chart above shows, increasing production is a big part of

From: http://www.dailyfinance.com/2013/04/13/the-us-oil-import-story-in-5-charts/

Will the Falling EUR Knife Carve Out Forex Gains?

By Dean Popplewell, Contributor

It’s mostly a crowded trade and one currency – the yen against all others — has consumed the foreign exchange market. Today will be another short day of Euromarket moving data. Investors will be waiting for North American trading antics around U.S. retail sales and consumer sentiment reports released this morning for fundamental market guidance. Will it possibly change their already pre-conceived convictions?

From: http://www.forbes.com/sites/deanpopplewell/2013/04/12/will-the-falling-eur-knife-carve-out-forex-gains/

Paris court OKs sale of North American artifacts

A Paris court has ruled to allow an auction of dozens of Native American tribal masks opposed by the Hopi tribe and its supporters including actor Robert Redford, and despite the U.S. government‘s plea for the sale to be delayed.

The potentially landmark decision with transatlantic repercussions means the planned sale can go ahead across town later Friday.

The auctioneer argued that blocking the sale would have tremendous implications and potentially force French museums to empty their collections. Arizona’s Hopi Indians insist the masks were stolen spiritual vessels — and want them back.

The striking masks feature surreal faces made from wood, leather, horse hair and feathers, painted in vivid colors.

The U.S. Ambassador to France on Thursday asked the French government and the auction house to delay the sale.

From: http://feeds.foxnews.com/~r/foxnews/world/~3/SDCXHqPq82w/

NTRR Explores New Ways to Make Medical Cannabis Healthier, More Effective

By Business Wirevia The Motley Fool

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NTRR Explores New Ways to Make Medical Cannabis Healthier, More Effective

SARASOTA, Fla.–(BUSINESS WIRE)– As Neutra Corp. (OTCBB: NTRR) explores the market potential for various smoke-free cannabinoid delivery systems, the company is seeking out new innovations on the cutting edge of the swelling U.S. medical marijuana market. Topical treatments, oral capsules and throat sprays could hold the key to achieving NTRR‘s aggressive corporate growth goals as more and more patients turn to healthier, more effective alternatives to smoking.

With new North American markets opening up for cannabinoid-related products and services every year, NTRR is seeking out new products and potential partners capable of maximizing its position in $1.7 billion U.S. medical marijuana industry.

“Alternative prescribed cannabinoid delivery systems offer several advantages over herbal cannabis,” said NTRR CEO Cindy Morrissey. “They’re the future of this industry, and we want to position NTRR at the ground floor of the coming boom.”

NTRR is seeking out potential partners who are developing breakthrough delivery systems capable of dramatically improving the benefits of prescribed cannabinoids to patients. The effects of throat sprays, oral capsules and topical creams are typically more predictable, more discrete, less invasive and less harmful than smoking cannabis.

The company is dedicated to commercializing innovative, all-natural products to compete in the fast-growing medical marijuana sector alongside Cannabis Science Inc. (PINK: CBIS), Medical Marijuana Inc. (PINK: MJNA), HEMP Inc. (PINK: HEMP) and Growlife Inc. (PINK: PHOT).

For more information on NTRR‘s initiatives, please visit www.neutracorp.com/investors.html.

Follow NTRR on Twitter at www.twitter.com/neutracorp.

About Neutra Corp.

Neutra Corp. (www.neutracorp.com) is a healthy lifestyle company that specializes in the development and marketing of natural wellness solutions, including cannabis-related products and services as well as protective, anti-microbial coatings for indoor and outdoor surfaces. For investing information and performance data, please visit www.neutracorp.com/investors.html.

Notice Regarding Forward-Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance

From: http://www.dailyfinance.com/2013/04/12/ntrr-explores-new-ways-to-make-medical-cannabis-he/

Hasbro Ranks at No. 7 in CR Magazine's Annual "100 Best Corporate Citizens" List

By Business Wirevia The Motley Fool

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Hasbro Ranks at No. 7 in CR Magazine’s Annual “100 Best Corporate Citizens” List

Hasbro honored for efforts in environmental sustainability, manufacturing ethics, philanthropy, and governance

PAWTUCKET, R.I.–(BUSINESS WIRE)– Global branded play company Hasbro, Inc. (NAS: HAS) has been named to CR Magazine’s“100 Best Corporate Citizens” list for the second year in a row, this year ranking in the top ten at #7. The maker of some of the world’s most popular brands including TRANSFORMERS, MY LITTLE PONY, PLAY-DOH and MONOPOLY was recognized for its increasing transparency regarding the Company’s Corporate Social Responsibility (CSR) efforts, including product safety, environmental sustainability and manufacturing ethics as well as philanthropy. Other notable companies making the list this year include AT&T, Gap, Inc., Campbell Soup Co. and Intel.

“We are proud to be honored for the second consecutive year for our leadership and advancements in corporate social responsibility, including environmental sustainability, manufacturing ethics, philanthropy, and governance,” said Brian Goldner, Hasbro’s President and CEO. “This recognition is a testament to the dedication of our employees around the world, and the strides we’re making in helping to build a safe and sustainable world for future generations.”

This recognition builds on the leadership distinction Hasbro has received from several prestigious organizations over recent years. In March, Hasbro was recognized as one of the “2013 World’s Most Ethical Companies” by the Ethisphere Institute, a leading global business ethics think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability.

Highlights of Hasbro’s CSR efforts include:

  • Reduced packaging: In 2012, Hasbro began to reduce the amount of material used in packaging for products in its brand portfolio. This builds upon Hasbro’s ongoing sustainable packaging commitment.
  • Phase-out of PVC in packaging: Hasbro has already phased out polyvinyl chloride (PVC) from new product packaging, and will continue to reduce PVC in all packaging until completely eliminated.
  • Using Materials Responsibly: Hasbro’s owned and operated North American factory which makes many of the company’s board games and puzzles uses vegetable-based printing inks and aqueous

    From: http://www.dailyfinance.com/2013/04/11/hasbro-ranks-at-no-7-in-cr-magazines-annual-100-be/

Report: How the US market will help Alfa triple sales in three years

By Zach Bowman

Alfa Romeo 4C

Filed under:

Automotive News Europe reports Alfa Romeo has a plan to triple its global sales by 2016, meaning the automaker will need to increase its sales to around 300,000 units in less than three years. Fiat CEO Sergio Marchionne has set the ambitious targets for the brand, but Alfa Romeo head Louis-Carl Vignon believes the numbers are realistic, thanks in no small part to the fact that the company is headed to the US market. Right now, Alfa Romeo relies on selling its old MiTo and Giullietta in Europe – a region that continues to suffer at the hands of an extended economic downturn.

Moving forward, Alfa Romeo will have new products available in new markets outside of the EU. The brand will return to the US this year for the first time since 1995, and the company plans to be in Africa, Russia and the Middle East by 2016 as well.

The 4C will lead the brand’s return to American soil, with the mid-engined sports car headed to this year’s LA Auto Show for a North American debut. Shortly thereafter, the company’s Giulia sedan and wagon as well as an unnamed large premium sedan will also show up on dealer lots.

How the US market will help Alfa triple sales in three years originally appeared on Autoblog on Thu, 11 Apr 2013 14:16:00 EST. Please see our terms for use of feeds.

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From: http://feeds.autoblog.com/~r/weblogsinc/autoblog/~3/dDICdTSaF7Y/

1 Pipeline Trend to Watch

By Aimee Duffy and Tyler Crowe, The Motley Fool

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As American oil production continues to increase, pipeline companies are starting to get creative when it comes to connecting producers to the most lucrative markets. Oil gets put on trains, trucks, and barges. In this video, Fool.com contributor Aimee Duffy talks to fellow Foolish contributor Tyler Crowe about the growing trend of midstream companies converting natural gas pipeline to oil, why these companies are making changes, and where it is happening.

The growing production of natural gas from hydraulic fracturing and horizontal drilling is flooding the North American market and resulting in record-low prices for natural gas. Enterprise Products Partners, with its superior integrated asset base, can profit from the massive bottlenecks in takeaway capacity by taking on large-scale projects. To help investors decide whether Enterprise Products Partners is a buy or a sell today, click here now to check out The Motley Fool’s brand-new premium research report on the company.

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From: http://www.dailyfinance.com/2013/04/11/1-pipeline-trend-to-watch/

PPG to Acquire Aerospace Coatings Producer Deft

By Business Wirevia The Motley Fool

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PPG to Acquire Aerospace Coatings Producer Deft

PITTSBURGH–(BUSINESS WIRE)– PPG Industries (NYS: PPG) today announced that it has reached a definitive agreement to acquire certain assets of Deft Incorporated, a privately-owned specialty coatings company based in Irvine, Calif. Deft’s primary business is supplying structural primers and military topcoats to the North American aviation industry, and it has smaller architectural and industrial coatings businesses.

Acquiring Deft will advance PPG‘s strategy to remain a leading aerospace coatings supplier,” said Barry Gillespie, PPG vice president, aerospace. “Deft’s waterborne and chrome-free technologies complement PPG‘s existing coatings capabilities and will provide PPG with a broader product portfolio, particularly within the aerospace industry.”

Gillespie added, “The aviation industry continues to drive toward improved environmentally sustainable solutions, and both PPG and Deft have long histories of developing technologies that support this trend. Deft’s ‘green’ coating systems support PPG‘s ongoing commitment to sustainability, and we will be able to offer an even wider selection of innovative coatings that benefit our customers and lessen the impact on the environment.”

The transaction is expected to close in the second quarter subject to customary closing conditions. Financial terms were not disclosed.

PPG Aerospace is the aerospace products and services business of PPG Industries and a diverse, global supplier with 18 coatings facilities around the world. PPG Aerospace – PRC-DeSoto is the leading global producer of aerospace sealants, coatings, and packaging and application systems. PPG Aerospace – Transparencies is the world’s largest supplier of aircraft windshields, windows and canopies.

About Deft

Founded in 1938, Deft Incorporated is a global leader in waterborne structural primers and chrome-free primers and topcoats for the aerospace and general industrial markets. Deft also manufactures wood finishes for the retail market. The company employs 140 people.

PPG: BRINGING INNOVATION TO THE SURFACE.(TM)

PPG Industries’ vision is to continue to be the world’s leading coatings and specialty products company. Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Sales in 2012 were $15.2 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For

From: http://www.dailyfinance.com/2013/04/11/ppg-to-acquire-aerospace-coatings-producer-deft/