SHANGHAI--(BUSINESS WIRE)--
Axalta Coating Systems (NYSE: AXTA), a leading global supplier of liquid
and powder coatings, will introduce price increases for customers in
greater China in response to a substantial increase in the costs of raw
materials. Price increases will affect certain refinish and industrial
coatings customers and select light and commercial vehicle OEMs and
sub-suppliers to these end markets. Specific price increases will be
communicated directly to affected customers.
“The upward pricing pressure on the cost of our raw materials reflects
multiple factors beyond our control including the availability of
feedstocks, increased regulatory requirements, and a limited number of
suppliers that meet our rigorous quality standards,” said Steven
Markevich, Axalta Executive Vice President and President, Transportation
Coatings and Greater China.
“While we have been absorbing cost inflation for the past several
months, we have come to a point where we need our customers’ help and
support in sharing a portion of these raw material increases. This has
become necessary in order to continue to provide customers with the
products, services and technologies that they rely upon from Axalta to
support their growth,” explained Michael Cash, Senior Vice President and
President, Industrial Coatings.
About Axalta Coating Systems
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 more than 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 axalta.com
and follow us @Axalta on Twitter
and on LinkedIn.
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Source: Axalta Coating Systems