Axalta Coating Systems Ltd. - AXTA STOCK NEWS

Axalta (NYSE: AXTA), a global coatings supplier, was awarded Best Supplier by CAOA Chery in Brazil, marking its second consecutive win. The recognition highlights Axalta's commitment to providing innovative and high-quality coating solutions. Additionally, the company received accolades for Innovation and Excellence in Direct Purchase. The awards commend the outstanding service and performance of 14 companies in the automotive sector, reinforcing Axalta's strong partnership with CAOA Chery and its dedication to helping customers achieve productivity goals.

Axalta (NYSE: AXTA) has recognized Dr. Carmen Flosbach and Dr. Michael Koerner as Axalta Fellows, the highest honor for scientists within the company. This acknowledgment highlights their significant contributions to Axalta's innovation and technology leadership. Dr. Flosbach, with over 100 patents, excels in resin synthesis for various coatings, while Dr. Koerner specializes in waterborne coatings. Both have over three decades of experience and have played pivotal roles in advancing Axalta's R&D capabilities, enhancing the company’s market position.

Axalta Coating Systems reported a 72.6% increase in Q2 2021 net sales to $1.126 billion, driven by significant recovery in end-markets post-COVID-19.

Income from operations surged to $190.4 million compared to a loss of $64.5 million in Q2 2020. Diluted EPS was $0.54, rebounding from $(0.35) in the previous year.

Axalta announced plans to acquire U-POL, enhancing its strategic position in the Refinish business. The company remains focused on managing inflation and supply chain challenges while pursuing growth opportunities.

Axalta (NYSE: AXTA) has launched Imron^® Industrial NISO 3325, a non-isocyanate acrylic enamel topcoat designed for the agriculture, construction, and earthmoving equipment markets. This innovative product offers superior weathering performance, high gloss, and excellent flexibility, comparable to urethanes, while eliminating health risks associated with isocyanates. The coating can be applied using various equipment types and is available in factory-packaged colors. This advancement positions Axalta favorably within the ACE market, addressing the demand for durable, environmentally-friendly coatings.

Axalta (NYSE: AXTA) will release its Q2 2021 financial results on July 26, 2021, after trading closes. The results will be accessible on the Investor Relations section of axalta.com. A conference call will follow on July 27 at 8 a.m. ET, featuring CEO Robert W. Bryant and CFO Sean Lannon, discussing the company’s financial performance. Interested parties can listen via the provided live webcast link. A replay of the call will be available until August 3, 2021. For more details, visit axalta.com.

Axalta (NYSE: AXTA) has announced global price increases across all business lines due to persistent inflationary pressures affecting raw materials and operating costs. Effective immediately or as contracts allow, the increases are necessitated by dramatic rises in costs for raw materials, freight, energy, and labor. CFO Sean Lannon stated that despite stringent cost-control measures, extraordinary inflation has made price adjustments essential to maintain quality and service. Details of the price increases will be communicated directly to customers.

On July 7, 2021, Axalta Coating Systems (NYSE: AXTA) announced its definitive agreement to acquire U-POL Holdings Limited for £428 million (approximately $590 million). U-POL, a UK-based manufacturer of automotive refinishing products, is expected to generate net sales of $145 million and adjusted EBITDA of $38 million in 2021. The acquisition will enhance Axalta's market access and operational synergies, projected to yield $10 million in annual efficiencies within 18 to 24 months. The deal is subject to antitrust clearance and is anticipated to close in H2 2021.

Axalta Coating Systems Ltd. (NYSE: AXTA) has appointed Jun Liao as the new Regional President for Asia-Pacific, effective July 15, 2021. Liao, who has over 30 years of experience in the chemical industry, will oversee Axalta's operations in the region and help drive growth strategies. CEO Robert Bryant emphasized Liao's collaborative leadership style and strong customer relationships, which are crucial in a rapidly expanding market. Liao's previous role was at Bekaert, where he held senior positions, including Executive Vice President.

Axalta Coating Systems (NYSE: AXTA) has appointed Tyrone Michael Jordan to its Board of Directors, effective immediately. Mr. Jordan will participate in the Environment, Health, Safety & Sustainability Committee and the Nominating and Corporate Governance Committee. He brings extensive experience from his previous roles in the global mobility and aerospace sectors, notably as President & COO of DURA Automotive Systems. His expertise in scaling technologies aligns with Axalta's growth strategy, particularly in promoting its Mobility business. The Board now comprises ten directors with diverse expertise.