PHILADELPHIA--(BUSINESS WIRE)--
Axalta Coating Systems (NYSE: AXTA), a leading global supplier of liquid
and powder coatings, has announced the acquisition of the automotive
interior rigid thermoplastics coatings business of Michigan-based United
Paint and Chemical Corporation. Production will temporarily remain at
United Paint’s Southfield, Michigan facilities and will transfer to
Axalta’s facilities in a phased manner. Financial terms of the
transaction were not disclosed.
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J. Geoff Piceu, CEO of United Paint (left), and David Grimes, Axalta Vice President, Global Automotive Plastic Components, announcing Axalta’s acquisition of the automotive interior rigid thermoplastics coatings business of Michigan-based United Paint and Chemical Corporation. (Photo: Axalta)
“United Paint’s interior rigid thermoplastics coating technology is a
great fit for Axalta as we fulfill our commitment to provide our
customers in the global vehicle manufacturing industry with a complete
range of coating systems,” said Steven R. Markevich, Axalta Executive
Vice President and President of Transportation Coatings and Greater
China. “Vehicle interiors are a logical extension of the expertise we
have developed to serve the growing automotive plastic components market
as traditional materials are replaced by lightweight alternatives.
Vehicle manufacturers will benefit by being able now to rely on Axalta
as a single source supplier of coatings for vehicle interiors as well as
exterior surfaces.”
“We believe Axalta is an excellent long-term home for our automotive
interior rigid thermoplastics coatings business,” said J. Geoff Piceu
CEO of United Paint. “With its leadership position in the automotive
exterior coatings market, its history of innovation, focus on customers
and its global scale and reach, we are confident Axalta will allow the
individuals, products and customers associated with this segment of our
business to maximize their global potential.”
Founded in 1953, United Paint is a formulator and manufacturer of highly
innovative coatings for automotive interior applications with approvals
of its products by 25 of the world’s leading vehicle manufacturers. Its
coating systems enhance the durability and aesthetic qualities of
components, such as instrument panels, consoles and appliques, inside
many of the world’s most successful automotive programs. The divestiture
of this segment of United’s business will allow it to continue a 63-year
legacy of reinvestment in niche coating technologies. For more
information visit unitedpaint.com.
About Axalta Coating Systems – Celebrating 150 Years in the Coatings
Industry
Axalta is a leading global company focused solely on coatings and
providing customers with innovative, colorful, beautiful and sustainable
solutions. From light OEM vehicles, commercial vehicles and refinish
applications to electric motors, buildings and pipelines, our coatings
are designed to prevent corrosion, increase productivity and enable the
materials we coat to last longer. With 150 years of experience in the
coatings industry, the approximately 12,800 people of Axalta continue to
find ways to serve our more than 100,000 customers in 130 countries
better every day with the finest coatings, application systems and
technology. For more information visit axaltacoatingsystems.com
and follow us @axalta on Twitter and on LinkedIn.
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Source: Axalta Coating Systems