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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 (NYSE: AXTA) has completed the acquisition of The CoverFlexx Group from Transtar Holding Company, enhancing its automotive refinish and aftermarket coatings segment. This strategic move aligns with Axalta's priority to grow its Refinish business, as stated by CEO Chris Villavarayan. The acquisition broadens Axalta’s product offerings, adding established brands like Transtar, Pro-Form, and Aftermkt Armor. The CoverFlexx Group, which operates manufacturing and development sites in Michigan and Ontario, will now be integrated into Axalta’s operations to bolster its market presence in North America.
Axalta (NYSE: AXTA), a leading global coatings company, has announced a partnership with Solera, a global leader in vehicle lifecycle management. This partnership will integrate Axalta's conventional and Fast Cure Low Energy (FCLE) refinish paint systems into Solera's Sustainable Estimatics platform. This integration allows Axalta customers to estimate CO2 emissions per repair, considering various factors like repair methods, paint application, and drying conditions. Customers will have access to a live dashboard for energy-conscious, data-driven decisions. Axalta aims for carbon neutrality by 2040, and this partnership supports their BELEAF initiative, focusing on sustainability and eco-conscious products.
Solera, a leader in vehicle lifecycle management, announces a strategic partnership with Axalta (NYSE: AXTA), a global supplier of coatings. This collaboration integrates Axalta’s refinish paint systems into Solera’s Sustainable Estimatics platform to accurately calculate CO2 emissions per vehicle repair. The initiative will help body shops and insurers make data-driven decisions to reduce carbon footprints, aligning with EU's CSRD regulations. Axalta aims to be carbon neutral by 2040, and this partnership supports its sustainability goals, providing eco-conscious products, tools, and resources.
Axalta Coating Systems (NYSE: AXTA) announced its three-year strategy plan, the 2026 A-Plan, during a Strategy Day event at its Global Innovation Center. The plan focuses on five key growth areas: cultural transformation, operational excellence, optimized portfolio strategy, sustainable innovation, and effective capital allocation. Axalta aims to achieve $500 million in net sales growth, more than 60% Adjusted Diluted EPS growth, and adjusted EBITDA margins exceeding 21% by 2026. CEO Chris Villavarayan emphasized the ongoing transformation and efforts to accelerate performance in the coming years.
Transtar Holding Company announces that Axalta Coating Systems is set to acquire The CoverFlexx Group, a subsidiary specializing in automotive coatings, with a workforce of over 120 employees. The transaction is expected to close in the third quarter pending regulatory approval.
Axalta Coating Systems (AXTA) announced the acquisition of The CoverFlexx Group for $285 million, plus an additional $10 million earnout. The deal is expected to close in the third quarter, pending regulatory approval. The CoverFlexx Group focuses on aftermarket coatings for economy customers in North America, generating $78 million in revenue in 2023.
Axalta Coating Systems announced its financial results for the first quarter of 2024, with net sales increasing by 0.8% to $1.3 billion. The company reported an estimated annual $75 million run-rate savings from the 2024 Transformation Initiative. Although net income declined by $22 million to $39 million due to restructuring charges, Adjusted EBITDA saw a $46 million increase to $259 million. Diluted EPS dropped by $0.09 to $0.18, while Adjusted Diluted EPS rose by $0.13 to $0.48. The company also paid down $75 million of principal on term loan and approved a $700 million share repurchase program.
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