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Axalta Coating Systems Ltd. (NYSE: AXTA) stands out as a premier global coatings company solely focused on the development, manufacture, and sale of liquid and powder coatings. This specialization has positioned Axalta as a leader in serving a diverse range of sectors including automotive, transportation, general industrial, and architectural and decorative markets.
With over 145 years of experience in the coatings industry, Axalta continues to innovate and deliver superior solutions. The company operates through two main segments: Performance Coatings and Mobility Coatings. The Performance Coatings segment provides products to refinish and industrial markets, while the Mobility Coatings segment focuses on original equipment manufacturers (OEMs) of light and commercial vehicles.
Axalta's extensive global presence includes 35 manufacturing facilities, 7 research and development centers, and operations in 130 countries. It employs over 12,000 people dedicated to creating, manufacturing, distributing, and supporting its extensive product portfolio. The company holds or has pending more than 1,800 patents, underscoring its commitment to innovation.
Recent notable achievements highlight Axalta's innovative drive. The company has been recognized with three 2024 Edison Awards™ for its cutting-edge products, including the Axalta Irus Mix, Voltatex® 7345 A ECO Wire Enamel, and its Low Carbon Footprint Sustainable Coating System. These accolades reflect Axalta's focus on sustainability and advanced technology.
Axalta's commitment to sustainable practices is further evidenced by its recent partnership with Solera to integrate its refinish paint systems into Solera’s Sustainable Estimatics platform. This initiative allows customers to estimate their CO2 emissions per repair, supporting eco-conscious decisions and contributing to Axalta's goal of becoming carbon neutral by 2040.
Additionally, Axalta is pursuing strategic growth through acquisitions, as evidenced by its agreement to acquire The CoverFlexx Group. This acquisition is expected to enhance Axalta's refinish business by expanding its product offerings and market reach.
For more information on Axalta Coating Systems Ltd., visit axalta.com and follow the company on LinkedIn and X.
Axalta Coating Systems Ltd. (NYSE: AXTA) has appointed Jacqueline Scanlan as the new Senior Vice President & Chief Human Resources Officer, effective June 14, 2021. CEO Robert Bryant expressed excitement over this addition, highlighting Scanlan's experience in building high-performing HR organizations. She previously worked at Haemonetics and has held roles at various prominent companies. Scanlan replaces Lynne Sprinkle, who is leaving the company in June. Axalta aims to leverage her expertise to attract and retain top talent as part of its growth strategy.
On May 14, 2021, Axalta (NYSE: AXTA) partnered with the Philadelphia Eagles to honor 10 local teachers through its sixth annual All-Pro Teachers program, recognizing their contributions to STEM education. Shirley Posey, a biology teacher at Imhotep Institute Charter High School, was named the 2020 Axalta All-Pro Teacher of the Year. Each honoree received support for STEM education in their schools, along with tickets to an Eagles game and other rewards. Axalta's CEO, Robert Bryant, emphasized the importance of education for future growth.
Axalta (NYSE: AXTA) announced a Tenth Amendment to its Credit Agreement, increasing its revolving credit facility from $400 million to $550 million and extending its maturity to 2026. This enhancement is designed to strengthen Axalta's long-term capital structure and financial flexibility, leveraging its strong free cash flow generation. The amendment was supported by a lending syndicate led by Barclays Bank PLC. Axalta aims to utilize this increased capacity to advance its strategic growth initiatives.
On May 5, 2021, Axalta Coating Systems hosted a virtual Capital Markets Day, outlining its growth strategy and financial targets. CEO Robert Bryant expressed optimism about the company's unique position to leverage competitive advantages amid COVID-19 recovery. Axalta projects 4-5% organic net sales growth and adjusted Earnings Per Share between $2.90 and $3.10 through 2024, alongside $2.4 billion in cumulative free cash flow primarily for acquisitions and share repurchases. The statement included caution regarding uncertainties stemming from the pandemic's economic impact.
Axalta Coating Systems (AXTA) has successfully expanded its waterborne coatings plant in Jiading, Shanghai, enhancing its production capacity to meet the rising demand for sustainable coatings in automotive and industrial sectors. The new facility includes advanced technology for waterborne basecoat and primer production, doubling the plant's capacity. This strategic investment aligns with Axalta’s commitment to eco-friendly solutions and supports its long-term growth strategy. The plant is now operational, catering to significant OEMs and industrial clients in China.
Axalta Coating Systems reported a strong Q1 2021 with net sales of $1,063.6 million, an 8.1% year-over-year increase, driven by volume growth across all markets. Adjusted EBIT rose 37.8% to $182.8 million, marking record first-quarter results. However, diluted EPS fell to $0.06 from $0.22 in Q1 2020 due to a $94.4 million operating charge. The company also acquired Anhui Shengran, enhancing its China presence. Cash flow from operations was solid at $39.6 million, and Axalta repurchased $63.6 million of its stock. Overall, the outlook remains positive despite supply chain challenges.
Axalta (NYSE: AXTA) has announced a strategic cooperation agreement with JETOUR during Auto Shanghai 2021. This partnership focuses on developing eco-friendly and intelligent vehicles in China. Axalta aims to leverage its advanced coating technologies to enhance sustainable practices in the automotive industry. Previous collaborations with Chery, JETOUR's parent company, have successfully reduced VOC emissions and energy usage in production. The partnership aligns with Axalta's commitment to delivering innovative, sustainable coating solutions, utilizing its extensive R&D capabilities in Shanghai.
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