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LONDON, UK / ACCESSWIRE / May 22, 2017 / Active Wall St. blog coverage looks at the headline from Research Frontiers Inc. (NASDAQ: REFR) as the Company announced on May 19, 2017 that its licensee France's Vision Systems had signed a commercial agreement with PPG Industries, Inc.'s (NYSE: PPG) Aerospace division. The partnership is for the development of new applications using Vision Systems electronic window shading solutions for aircrafts. Register with us now for your free membership and blog access at:
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One of Research Frontiers' competitors within the Industrial Electrical Equipment space, Belden Inc. (NYSE: BDC), reported on May 03, 2017, its Q1 FY17 results for the period ended April 02, 2017. AWS will be initiating a research report on Belden in the coming days.
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The commercial agreement outlines a broad framework wherein PPG and Vision Systems can leverage each other's expertise to take advantage of opportunities available in commercial, regional, military and general aviation for the new applications jointly developed by them. The commercial and financial details of the agreement were not shared by either party.
Research Frontiers is the developer of SPD-SmartGlass, electronically tintable window technology. Its patented SPD-SmartGlass technology effectively blocks UV and infrared rays regardless of whether the glass is in its clear or tinted state. Vision Systems is licensed to sell SPD-Smart products for aircraft, trains, recreational vehicles, busses, trucks, mobile cranes and construction vehicles.
Pittsburgh, Pennsylvania based PPG Aerospace provides a range of innovative products and services for the global aerospace business. The portfolio includes coatings, sealants, transparencies, packaging and application systems, and transparent armor, as well as chemical management and other services. It has presence in 70 countries, and in 2016, the company reported net sales of $14.8 billion.
Reaction from the parties to the agreement
Sharing his views on the partnership between PPG and Vision Systems, Joseph M. Harary, President and CEO of Research Frontiers said:
"The combination of these two companies with their focus, resources, and combined experience and expertise, is a major win for aircraft customers around the world who want the finest and best performing systems to enhance the passenger experience."
Brent Wright from PPG added:
"As a pioneer in the electrochromic window segment, PPG recognized the added value offered by Vision Systems to the standard dimmable film technology, especially with the interface that makes its system work."
Catherine Robin, Group Managing Director of Vision Systems also commented on the partnership:
"This agreement is fully in-line with our commitment to continuous innovation and customer satisfaction. Furthermore, this constructive collaboration will allow Vision Systems to strengthen its presence throughout the world."
All about Vision Systems and its dimmable window solutions
Lyon, France based Vision Systems is a tier-one system supplier for the aeronautic, land transport, and marine industries offering customized designs and product solutions as per industry requirements. It specializes in solar protection including Electronically Dimmable Windows, wireless entertainment systems. and high-end composite solutions. The solar protection solutions include roller and pleated shades, driver blinds, and cockpit sun visors, and Electronically Dimmable Windows. The Company has a production and sales office in Florida USA, and trade offices in Singapore and Dubai.
In September 2016, Vision Systems started a new Business Unit dedicated to dimmable solutions - Smart Lite. This new generation of solutions helps in improving visual and thermal comfort. They offer variable shading from clear to dark to control daylight, glare, and heat while preserving the view. Due to the darkest possible shade, the system offers heat rejection and UV blockage resulting in cooler interiors which in turn reduces the consumption of air conditioning. These dimmable windows can be easily operated and controlled. When controlled individually, a seat-side wired or wireless interface is used and when controlled cabin-wide it can be done through the aircraft's cabin window management system. These windows use integrated electronics and hence are low maintenance.
Since these dimmable window solutions have no size limitations relative to aircraft transparency application, applications for larger transparencies with flat or curved shapes as well as retrofit installations including with add-on panels can be easily developed.
Vision Systems' latest-generation Nuance V2 dimmable window is being produced by its Smart Lite division. It is based on suspended particle device film technology licensed from Research Frontiers and an innovative Vision Systems interlayer that offers unprecedented optical quality with 2.5% haze, 100% clarity, and 99.6% blockage of visible light with the ultra-dark version of the Nuance product.
Advantages of the commercial partnership
Both PPG and Vision Systems have an established history of supplying electronically dimmable window shading systems. While PPG has been supplying electrochromic window shading systems for commercial aircraft and ground vehicles since 2007, Vision Systems is an established supplier of aircraft shading systems and associated electronics. PPG's Global Business Director for Aerospace Transparencies, Brent Wright feels that the partnership will allow the company to provide innovative solutions that are enhanced with Vision Systems' product for managing window light and heat transmission to its customers.
Stock Performance
At the close of trading session on Friday, May 19, 2017, Research Frontiers' stock price rose 10.00% to end the day at $1.10. A total volume of 161.83 thousand shares were exchanged during the session, which was above the 3-month average volume of 59.97 thousand shares. The stock currently has a market cap of $24.00 million.
At the close of trading on May 19, 2017, PPG's shares closed at $106.73 with a gain of 1.27%. Approximately 1.08 million shares exchanged hands at the end of the trade session. The stock has gained 0.70% in the last 30 days and 4.64% in the last 90 days. Comparatively, the stock gained 11.60% in the last six-month and 2.63% in the last 12-month periods. The stock has a dividend yield of 1.50% and is trading at a PE ratio of 49.76. The market capital of the stock is $27.49 billion.
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